TO RENT OR TO BUY?
Every pilot has probably dreamt of owning an airplane at one time or another. Making sense of the decision to own an airplane vs. rent depends on a number of factors but the first to consider is;
How much do you expect to fly?
If you are an occasional flier (less than 100hrs a year) who wants cost effective access to high quality aircraft then Synergy’s Membership Rental Program is probably best for you. However, if you plan to fly 150 hours or more in a year, ownership starts to compare favorably to renting depending on the type of aircraft you want and performance you need it to achieve.
For example compare the economics of owning a used 1975 Cessna 172M to renting Synergy’s 2013 Cessna 172S NAV III. At approximately 84 flight hours a year our owner pilot will spend about the same amount at $17,800 as a Synergy Member at $17,820 (figure 1).
However, if we factor in the value of the additional amenities included with a Synergy Membership including 4 hours of Simulator Use, Heated Hangar, XM weather, IFR Inspections, and GPS Database Subscriptions our owner pilot now has to fly 133 hours a year to compare favorably (figure 2).
Beyond 84 flight hours a year renting will cost a pilot more than owning. If we take Membership amenities into account an owner has to fly more than 133 hours a year but these numbers don’t take into account the financial costs of aircraft depreciation as well as intangibles such as flying a late model, comfortable, well maintained, IFR capable aircraft with state of the art avionics (including synthetic vision!) with none of the hassle of aircraft ownership.
Some folks just want to have their own plane and that’s all there is to it. This is great choice and can be a fun and rewarding option! And Synergy stands ready to help you with your aircraft acquisition needs. For everyone else Synergy’s Membership Rental Program is designed to provide you with access to a high quality aviation experience free from the burdens of personal aircraft ownership.