M20J 201 Operating Costs

[N6784N]

the reason for applying the fixed costs to your hourly cost makes sense to me. if you didnt have the plane then you wouldnt need the fixed costs so they really are in relation to your airplane in that you fly and that is based on hours flown. I can see your point but I think it might be based on the fact that should I rent a airplane or more benificial to own. if you fly 150 to 250 hours per year then taking on the expense of owner is more attractive then renting a slower plane at a higher hourly rate. IMO

[Mooney65E]

Quote: Hank

     One thing I've never understood is why people include hangars, insurance and annuals when they calculate "operating cost."

[Ned Gravel]

I'm with Lyle on this.  I track the costs too, but I know full well that I do this because I love to do it.  Sometimes, I get reimbursed for the business use of my personal aircraft (gas and parking fees), but until I get my commercial licence, that is as far as that can go. 

Maybe next year, with some of the advantages that Parker has - using his Mooney for "hire or reward" beyond his obvious love of flying, and flying a Mooney to boot!!

Besides, I am 57 and my major overhaul was completed last year.  If I do the math, it is not likely to recur during the remainder of my ownership of this aircraft. Unless I turn out to be as good as Bob Hoover??

[jmills]

A lot. That's my answer. Frankly, I don't like to look TOO closely or else I'll scare my wallet. Also, too bad we can't do like the gov't and just print money to operate our toys.

/carry-on with meaningful cost discussion

[mikefox]

My partbers and I have owned a 1989 M20J for 8 years.  Fairly reliably the variable cost (all maintenance other than basic annual inspection + engine and airframe fund) has been $50 /hour + fuel.  The basic annual inspection (before extra repairs) has been around $1800/year.

Unfortunately, hangars are very expensive in San Diego!

Good luck with your airplane purchase!  You are doing it right by getting the figures upfront before committing....

[Mooney_Allegro]

For my M20J with hangar, insurance, annual, and fuel based on flying 125 hours/year, I calculated it cost me $18,863/year based on fuel of $5.30/gallon.   It comes out to $150.91/hour.  This past year I put on 220 hours though, so the numbers will be higher.  Fixed costs are $82.56/hour and variable costs are $68.35/hour.  This doesn't include any reserve for engine overhaul. 

[NotarPilot]

I just posted a new topic about this but I'll also post my figures here so the information is easily searchable.

I know this topic comes up a lot for prospective buyers so I thought I would use my experience to help prospective owners of M20Js determine what their operating costs would be.  I find the M20J has been a reasonably affordable aircraft to own. I keep very thorough records on just about every penny that goes into my plane so what I've done here is I've removed costs that are considered upgrades and improvements and only involved costs that included maintenance items, insurance, oil changes, oil usage, engine and prop overhaul reserve and fuel.  I'll also break down the usage and costs per year and an average cost over the 4 years I've had my plane.  

For anyone considering airplane ownership keep in mind the more hours you fly the cheaper each hour gets.  Hours used are all based on TACH time and not Hobbs time so keep that in mind.  When I used to rent airplanes I hated to think I was paying the same waiting to take off that I was to fly.  I did not include the payment of the plane or the cost of hangaring in these figures since I do not consider these as "operating costs" and they vary from person to person and place to place.  Data subscriptions are not included either.

Plane: 1978 M20J with 2 bladed prop with IO-360-A1B6D

Flying experience when purchased (Presented for insurance purposes): Approx 2700 hours (Mostly helicopter) about 57 hours fixed wing time including 4.3 hours complex time.  Ratings held: Private SEL fixed wing; Comm Heli w/ instrument rating.  Oddly, when getting an insurance quote they only asked for total hours and I don't think they differentiated between rotorcraft and fixed wing.  I think my instrument rating in the helicopter helped.

2012 Expenses

Maintenance summary: Annual inspection; complied with AD 2012-05-09; purchased new Concorde battery, 3 new tires and tubes; dynamic prop balancing.

Hours flown 81.18

Maintenance expenses                                      $3,523 / 81.18 = $43.40 hr

Insurance                                                           $1,339 / 81.18 = $16.49 hr

Oil changes (Includes cost of Camguard          $226.36 / 81.18 = $2.79 hr

added during oil change. Oil change conducted once every 3 months or 35 hours of tach time, whichever comes first)

Oil usage per hour (8 hrs/1 qt @ $6.50 per qt)                             $0.81 hr

Engine overhaul 2,000 hr TBO (Corona Aircraft                           $12.00 hr

Engines cost $23,995) however I plan to fly past TBO and determine overhaul time based on condition.

Propeller overhaul (Santa Monica Propeller $2,800) based on    $2.80 hr

overhauling prop in 12 years which should equal about 1,000 hours. OEM recommends overhaul at 2,000 or 6 years whichever occurs first. I went 18 years and almost 1,500 hours since new before overhauling the prop without issue. I finally decided to OH out of an abundance of caution.

Fuel (Average 2012 fuel $5.81/gal) at 10 GPH                             $58.10

Total                                                                                             $136.39

2013 Expenses

Maintenance summary: Annual inspection; new brake pads, spark plugs, air filter; repaired stall switch; IFR recertification; repaired and replaced landing gear motor; replaced alternator with new Plane Power alternator and new voltage regulator; removed and overhauled MP and tach gauges.

Hours flown 82.62

Maintenance expenses                                   $3,411.64 / 82.62 = $41.29 hr

Insurance                                                                $983 / 82.62 = $11.90 hr

Oil changes (Includes cost of Camguard           $226.36 / 82.62 = $2.74 hr

added during oil change. Oil change conducted once every 3 months or 35 hours of tach time, whichever comes first)

Oil usage per hour (8 hrs/1 qt @ $6.50 per qt)                               $0.81 hr

Engine overhaul 2,000 hr TBO ($23,995 overhaul cost)                 $12.00 hr

Propeller overhaul based on 1,000 hours ($2,800 overhaul cost)  $2.80 hr

overhauling prop in 12 years which should equal about 1,000 hours. OEM recommends overhaul at 2,000 or 6 years whichever occurs first. I went 18 years and almost 1,500 hours since new before overhauling the prop without issue. I finally decided to OH out of an abundance of caution.

Fuel (Average 2013 fuel $5.50/gal) at 10 GPH                               $55.00

Total                                                                                               $126.54

 

2014 Expenses

Maintenance summary: Annual inspection and replaced ELT battery

Hours flown 66.35

Maintenance expenses                                      $853.60 / 66.35 = $12.87 hr

Insurance                                                                $980 / 66.35 = $14.77 hr

Oil changes (Includes cost of Camguard           $226.36 / 66.35 = $3.41 hr

added during oil change. Oil change conducted once every 3 months or 35 hours of tach time, whichever comes first)

Oil usage per hour (8 hrs/1 qt @ $6.50 per qt)                               $0.81 hr

Engine overhaul 2,000 hr TBO ($23,995 overhaul cost)                 $12.00 hr

Propeller overhaul based on 1,000 hours ($2,800 overhaul cost)  $2.80 hr

Fuel (Average 2014 fuel $5.02/gal) at 10 GPH                               $50.20

Total                                                                                               $98.66

 

2015 Expenses

Maintenance summary: Annual inspection; replaced VSI with new unit, IFR recertification; Garmin GDL-69A and GMA 340 repair; new Concorde battery; replaced old landing gear blisters; removed dual magneto and had 500 hour inspection performed.

Hours flown 73.2

Maintenance expenses                                     $3,411.64 / 73.2 = $41.29 hr

Insurance                                                                  $983 / 73.2 = $11.90 hr

Oil changes (Includes cost of Camguard             $226.36 / 73.2 = $2.74 hr

added during oil change. Oil change conducted once every 3 months or 35 hours of tach time, whichever comes first)

Oil usage per hour (8 hrs/1 qt @ $6.50 per qt)                               $0.81 hr

Engine overhaul 2,000 hr TBO ($23,995 overhaul cost)                 $12.00 hr

Propeller overhaul based on 1,000 hours ($2,800 overhaul cost)  $2.80 hr

Fuel (Average 2015 fuel $4.34/gal) at 10 GPH                               $43.40

Total                                                                                               $114.94

Average hourly operating cost over 4 years                              $119.13