COSTS TO OWN A CIRRUS SR20! Also...who left the door open?

How much does it cost to own a Cirrus SR20 you ask? Since I have been doing maintenance on the ol’ girl, I thought I would use this follow-up test flight to break it down for ya’! Also, BIG SAFETY TIP in this video! Keep your eyes peeled for it!
I am NOT a Certified Flight Instructor and my videos are not for instruction purposes. The video is intended for my own personal experiences and for entertainment purposes only. Do not use my video content as information about how to fly an airplane. To properly learn how to fly you MUST visit your local flight school and work with an experienced Certified Flight Instructor.
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[@randyg.743]

Just doing an internet search, I found this: "Based on 450 annual owner-operated hours and $7.25-per-gallon fuel cost, the CIRRUS SR20 has total variable costs of $72,900.00, total fixed costs of $80,760.00, and an annual budget of $153,660.00." If true, that puts it out of reach for me. But if your numbers are correct I can afford to buy a decent used one without financing and the annual cost isn't so oppressive.

[@QuantumFly]

This is an old video. Since I published it, the cost of Citrus aircraft has gone through the roof! You are likely very accurate , in that the costs are far higher now than they were last year.

[@wgrasqu]

Nice videos. My Arrow is parked at the West hangers at SFB and my IA is right across your hanger on the East side. Small world.

[@QuantumFly]

Who is your IA? Walter or Chick? They are near my hangar. I use Chick Gregg at Airwerks.

[@richardc6843]

Great video, I have a much better understanding of what to expect when I finally pull the plug. Thanks for the shout out too.

[@QuantumFly]

Absolutely! Glad you liked it. Thanks fir the feedback. Let me know if you want to see anything else. We are about to do some formation flying! Don’t forget to subscribe and KZbin will notify you when I post.

[@mojogrip]

Good stuff. I’m curious how many hours on average do you fly per month or per year at those numbers?

[@QuantumFly]

To be honest, not enough! I have only owned the aircraft for 2 years and have logged less than 100 hours. I hope to use the Cirrus exclusively for business travel this year throughout the Southeast. Thanks for the comment, I also watch your videos!

[@mojogrip]

@@QuantumFly Gotcha! I'm just in the beginning of my calculations but I'm approaching 20-25 hrs in a month.

[@QuantumFly]

@@mojogrip those are great numbers! Since I use my plane for business mainly, it would be far cheaper to run at 100 hours per year and nearly debt-free at 150 hours.

[@DoogieFresh]

MIIIIIIIKE! 😁

[@juliocesarmendezcarvajal7042]

@@QuantumFly nice video !! Debt-free. It caught my attention, and I think there is much for me to learn about owning a plane. If you don't mind, can you please elaborate a little bit more about 150 hours will be nearly debt-free? Are you writing that off?

[@Orlandorider]

Thanks for including approximate cost for owning and operating your Cirrus!

[@ChaseAviation]

Dude, these are some great videos. Keep them coming.

[@QuantumFly]

Thanks for watching!

[@Mobev1]

Nice video. Congratulations on being an entrepreneur too. I grew up in that area and i own a nice business just south of dc. I fly a cirrus and id like to move to the melbourne area as a snow bird when i get a wee bit older. Im flying a 22 but dont own one. Ill buy one when interest rayes hit 17% and just pay 100k cash for it!

[@QuantumFly]

Melbourne is a great area. I am currently on a 2-Year contract. I sold the company in October 2021. It’s one of the reasons I bought my SR22.

[@speedomars]

You need to include the annual property tax/12. Also insurance cost/12. Things like fuel, oil, landing fees are computing on an hourly basis.

[@QuantumFly]

Great point! This is where I discussed the cost of NOT flying. All those fixed costs add up if I am not using the asset. In my case, I use it for business travel as well as pleasure. In those (business) cases, the cost of ownership can be recouped based on the business use.

[@NGC008]

Crikey! All that money to own and run that plane and they couldn’t fit a warning light on the dash to tell you the door is open! Really? My cars have done that for years. 😃😃😃😃😃

[@QuantumFly]

@Billy Bob, it's crazy....right?? Unfortunately MOST planes don't have this feature, but the new airplane DOES have a way to close and then secure the door by pushing down on the handle. A much better design and only a few hundred thousand dollars more!!! :)

[@bodenmaddoxmain]

Enjoyed the video. I find owner perspectives on repairs and costs very interesting and informative. Thanks. :-) As an aside, did you know that since you mark your videos as safe for kids, I can't turn on alerts? When I try to turn them on it tells me that feature is not available for content marked as safe for kids. Because of that, I can't easily tell when you have new content. :-( KZbin sure doesn't make it easy for small channels to grow.

[@QuantumFly]

Thanks for the feedback. I have a secondary login and it does allow me to ring the bell. Not sure what is causing it not to work for you. I’ll keep checking.

[@bodenmaddoxmain]

@@QuantumFly I captured a quick video of what I see if that helps you... kzbin.info/www/bejne/gYPNlIumpc2eopY

[@AsH-fp3fx]

Insurance? Tax? Annual reserved? And do you save per hour for TBO and Chute repack?

[@QuantumFly]

@AsH - those are included under "Misc." I understand your point on annual and re-pack reserves, but I do not do that because the aircraft is in its own LLC. Those are all part of the expenses to the company, some of which are written off. If I owned the aircraft as a private individual, I would have considered those costs.

[@AsH-fp3fx]

@@QuantumFly good to know, I guess then you should clarify this as it this video does not represent the actual cost to own an airplane

[@QuantumFly]

@@AsH-fp3fx Yes, all the costs are there. The insurance is embedded into the monthly miscellaneous costs as indicated. Typically, my monthly cost for insurance is around 140-175 per month. These costs change based on flight hours and certificate.

[@josephs3973]

Money discussion starts at 5:40

[@hosegooseman5]

Thanks for sharing. Very useful info. When you noticed the door issue? While flying or watching the video? If flying, you noticed anything significantly different, like sound? Saludos !!!

[@QuantumFly]

Thanks for subscribing Jose! Believe it or not, I only noticed it on the video when I was doing my editing! I DID notice a slightly higher external noise while flying and this now makes sense. The Cirrus door design is good and bad at the same time. The GOOD is that the door can never just fly open like a Cessna or a Piper as the wind provides pressure to keep it closed. The BAD is that it is very difficult if you need to close it in the air.

[@hosegooseman5]

@@QuantumFly thanks for the quick reply. I’ve been out of the PIC seat for a very long time and really enjoy these type of videos. I’m hoping to be able to get back to the saddle in the near future and your content is very useful and entertaining for sure. I had a chance to do a demo flight on a SR-22 when I lived in Miami and to this day I remembered like it was yesterday. What an aircraft, specially coming from Piper’s and Cessna’s mostly. First experience with a glass panel, side yoke and I was more lost than ever but the demo pilot was very nice and guided me through the whole thing allowing to do the complete sequence from take off, maneuvers and landing all while dodging the usual Florida weather. Again, thanks for the quick response. Saludos !!!

[@guythomas9977]

I didn't see insurance on your list?

[@QuantumFly]

That was a while ago. The SR 20 was only about $2500/yr. the SR 22 went way higher than that! I will make sure I RE-run the numbers when I have owned it for a while.

[@jasonherbst3908]

Love the shirt ;D

[@andrewschmertz]

Another good video! Just don't add the plane to a 135 certificate. costs go up about 300%!

[@QuantumFly]

Wow! I had previous planes in a Part 91 Ground School, but one of the students broke the plane, so NO MORE!

[@andrewschmertz]

@@QuantumFly that's why people go with us. we've never allowed our planes to be flown by renters. Only commercial and ATP rated pilots who are trained by us.

[@stba1127]

Hi, what you mean with Aircraft payment thousand dollar a month? This what you pay to the bank a month for the credit? Interesting to know how much your plane cost without purchasing cost. Thank you

[@QuantumFly]

It is hard to say what the "values" are on SR20's these days. I bought my plane BEFORE ADSB requirements and typical aircraft were selling for anywhere from $150K - $225K. The monthly value on the video is my payment to the bank on the current outstanding balance.

[@zacharynorman397]

Over $600 a month for the hangar?! Is that pretty avg?

[@QuantumFly]

No it is not. The Southeast Ramp is generally more than public T-Hangers would be. Also, we have a nice pilot lounge, fuel co-op and other “high-end” benefits. I pay more because of this and it is so close to my business.

[@ChiliStyles]

What mount do you use for your wingtip camera. I’m picking up a sr-20 in a couple weeks and was wondering if it’s that standard sticky mount.

[@QuantumFly]

Congratulations on the SR20! I have thoroughly enjoyed owning mine! I have been using the NFlight ball mount for the wing cam. I thought this mount was sufficient and less invasive than the multi-screw bracket mount. Just use one of the wingtip screws to secure it! It has worked very well for me. Here's a link: www.aircraftspruce.com/catalog/avpages/nflight11-14395.php

[@ChiliStyles]

@@QuantumFly thank you for responding quick

[@Rico11b]

One of the many reasons I'd not want to buy a Cirrus. I want a plane where the builders are so confident that they say, "we don't need no stinking parachute".

[@QuantumFly]

I can absolutely guarantee you that you you would NOT have that same cavalier attitude in an engine loss on a moonless night over a forest. You're life would be nearing its completion in most other airplanes. I fly a Cirrus not because I doubt my skills, but because I can never see the future.

[@Rico11b]

@@QuantumFly Nothing cavalier about it. If you always fly with the mindset that the engine could possibly quit at any moment then you'd never put yourself in that position to begin with. Even new engines can fail. Along your routes you should always be on the look out for alt landing locations should the engine fail, and have enough altitude to glide to it. Funny you mentioned "moonless" nights as I have had my ass hanging in the breeze under a canopy on a moonless cloudy night, landing in the trees. I was pretty banged up, but survived. The decent rate on the Cirrus chute is so high, that the plane is trashed and there's no guarantee that you'll survive impact in the forest under that canopy. Landing in a thick forest of trees it won't matter if you stall in our come down under canopy, it'll still be a crap shoot. That mess has nothing to do with YOUR skills, that's just rolling the dice. Moral of the story, don't fly low over the forest especially on a moonless night. :)

[@MattSalsa]

@@Rico11b You seemingly contradict yourself in these two messages. The idea behind flying with the mindset that the engine could quit at any time is a super great recognition that even brand new well designed technology is fallible. The idea that Cirrus engineers only put in a parachute because they weren't confident in their platform is silly to me; instead I view it as them making the same conclusion you just did-- things can go wrong even when we have good plans and good technology. The more options we have in these scenarios the better. People using the parachute as an out for bad decisions are already making bad decisions in the first place, parachute or not.

[@Necknation44]

That hanger fee is a lot

[@QuantumFly]

Yeah, it is, but it is close to work and has really great facilities. I will be moving to a new larger hanger with Mike (see other video) and we will split the cost. This will save a little cabbage monthly!

[@NowSmile4TheCamera]

Thanks for the video! What about insurance? And is the cost of chute repack factored in to miscellaneous costs or anything else out listed? Or will you just knock that out when it’s due. Just curious. Thanks again!

[@QuantumFly]

Thanks for watching and subscribing! The costs are for ACTUAL costs from January to October 2020 including hangar, maintenance and chart subscriptions. There is no factor in there for chute re-packing or maintenance. My last Annual was only $1,500.00 as I have had my A&P do many other tasks in the meantime. I also included the annual maintenance in the IFD/ADSB upgrade program, so that saved me money too. There is absolutely NO replacement for having a competent, honest A&P for your plane. I am fortunate that AirWerks, LLC is right on the Southeast Ramp at KSFB! You can find a video on the site of the Avidyne ADSB upgrade. I have been very happy with the IFD-540 so far.