Thinking of buying a cessna 152 and leasing it out. Any thoughts?

Question

Thinking of buying a cessna 152 and leasing it out. Any thoughts?

Answer 1

Don't buy, don't buy, don't buy!!!!!!!! If it flies, floats or fornicates, RENT IT.

Answer 2

I wouldnt due it if you think your going to make money.

Lease-backs are a way of people owning an aircraft, while offsetting the cost of ownership such as hangar costs, insurance... etc.

Its a way for someone to own their own aircraft, having it available to them when they want it, but not paying all the costs of ownership.

The only draw back is that aircraft do see alot of abuse, especially when leased back to a flight school, so its a trade off.  Make sure that the flight school is responsible for ALL Maintence, otherwise your lease may cost you more money.

Answer 3

I think I might consider a partnership first. Leasing it out, particularly to a flight school can be hard on the plane and up your insurance costs.

If its a good write-off for you though, it might be worth it. Check with your accountant for the details.

Answer 4

It depends, you need to give more information. Do you have a specific Cessna 152 in mind? Do the engine hours match the aircraft hours? How long has it been since this aircraft was last flown? What are the interior and exterior ratings? Do you have a mechanic in mind? What kind of avionics package does it have? Is there any corrosion? Before you consider what the resale value would be, decide if its something you really want to fly. Is it safe, or are there going to be a lot of hidden maintenance costs?

Good luck!

Answer 5

There would be a market for it...however keep in mind that it would be your responsibility to keep the aircraft in airworthy condition.  If you are driven to make your plan work, then it is absolutely possible and a good plan at that!  Best of luck to you.

Answer 6

go for it!

Answer 7

If a cessna 152 is a car....absolutely not.  A car drops in value immediately.

Answer 8

James S - please, god, tell me you were kidding.

Answer 9

It can work but it will take a lot of effort on your part to understand and comply with the rules, make a good buying decision, find renters, etc.

The best part is you get to fly it essentially for free!

I would highly suggest starting an LLC and having the LLC buy it rather than yourself. That way you are more protected in case it loses money or your negligence causes an accident.

There is a lot of info about this out there. Try Googling "aircraft ownership." For example: http://www.ben.com/flying/costown.html.

I'm thinking of doing the same thing. Fuel prices have me scared though.

You can always go into it with a group of people as well, to split the cost.