From: serafin@epcot.spdc.ti.com (Mike Serafin)
Subject: Some ramblings on ownership
Organization: TI Semiconductor Process and Design Center
Date: Wed, 7 Oct 1992 15:44:22 GMT

I just read the request for information about aircraft loans and while I don't
have any of that kind of information to share, I thought I would share my
limited experiences in aircraft ownership.  

I am relatively new to aircraft ownership, purchased my first aircraft in March
of this year.  I had thoroughly researched the matter and did not have any
misconceptions about the cost of aircraft ownership.  My purchase was a 1964
Cessna 310I.  I have put about 80 hours in the plane since it was purchased and
have thoroughly enjoyed every minute.  This isn't to say there haven't been any
problems, just that the ups are higher than the downs :-). The only true
surprise was replacement of both props 3 months ago.  They had been sent in for
overhaul and during tear down and inspection it was discovered that all 4
blades had cracks near the hubs.  Kind of a love/hate type thing, you hate the
fact that you have to shell out the $$$$ but are REAL glad you discovered them
this way and not in the air. Its all part of aviation in general, you gotta be
prepared to deal with the unexpected.  The rest of my costs this year had been
expected, some came sooner than others, but nothing shocking.  At least I know
what maintenance is being done to the plane, what needs to be done, when it
will get done, and even if it will get done.  Can't really say that about by
days as a renter pilot. So much for the downs.                  

The biggest advantage I have found in ownership is the ability to take a trip
whenever and whereever I want to and I always get to fly my favorite plane.
There is much to be said for flexibility and when considering aircraft
ownership, it is a big part of the decision.  Several of the trips I made this
year probably would not have been possible if I were renting.  I no longer have
to worry about getting the plane back by a certain time or planning trips far
in advance just to get the plane.  I can decide the Friday of a holiday weekend
that I want to go somewhere and not worry about being able to schedule my
favorite plane.  I can decide to extend my trip and extra day or longer without
incurring the wrath of FBO or disgruntled renters (just the Wrath of BOSS).
This flexibility is probably the biggest reason aircraft owners are just that.
No cost model available can put a figure on flexibility.  If we based our
decisions solely on cost of owning vs. cost of renting, I am sure a lot of us
would not be aircraft owners.  There are just somethings you can't put a price
on.  

Just a few ramblings for the benefit of those who might be considering
purchasing an airplane.  Hope it helps.  I would encourage you to investigate
the option thoroughly, and if it makes sense to you, DO IT, you won't regret
it. 

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Mike "Dragonmaster" Serafin    PP-ASMEL-I      email=serafin@epcot.spdc.ti.com
1964 C310I N48WM                                             Texas Instruments 
HQZ (Hudson Muni, Mesquite TX)                                   Dallas, Texas
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