Im Gonna Do It.

[ForrestS]

Alright i found a place to get my pilots licence. I was gonna get into ultralights but i heard bad things about them. (hehe)

The school is in Arlington Texas. So its not far away.

Technacly im working on it right now because im studing the yellow Drivers Licence book. I got to get my permit, and a job. But im GONNA DO IT.

Its around 6,000 for

20 Hours of Dual Instruction in C172
15 Hours of Solo Flight in C172
Computer Based Instruction Kit
Charts
Ground School
Medical
Written test

They said you can pay 75 a month untill its paid off.

Im not gonna buy a plane im just going to rent them on weekends or when ever i have the time and money.  

Will yall check out the site and tell me if im makeing a good decision.

Skymates  

They also let you rent from them. They have Cessna 172's, 182's, Piper Seminole, and a Beech Duchess.

[Golfer]

Those numbers are all the minimums.  Bare bones minimums.  With the price of fuel well over double (triple in some cases) from when I did my initial training budget $10,000.  You'll be happier to come in under budget rather than have to stop your training several times because you ran out of money which costs you more in the long run.  You'll want to plan on at least 30 hours of dual and 20 hours solo.  The "average" student used to be around 60 hours for their private checkride.  I've had them good to go at 35 hours and had to make a few lunch trips to get the time but I also gave a guy his first signoff at 120 hours and 3 years.  He'd flown 40 hours a year for 3 years which hurt much more than helped.  

I've seen it done several times and in one case I actually offered a student an advance on his multiengine checkride for the airplane because he called me to explain he was out of money two days before his practical test.  He passed with flying colors and made good on the advance within a month.

Good luck and have fun with it

[Xasthur]

This is what I'll be doing mine in:

[ForrestS]

Originally posted by Golfer
Those numbers are all the minimums.  Bare bones minimums.  With the price of fuel well over double (triple in some cases) from when I did my initial training budget $10,000.  You'll be happier to come in under budget rather than have to stop your training several times because you ran out of money which costs you more in the long run.  You'll want to plan on at least 30 hours of dual and 20 hours solo.  The "average" student used to be around 60 hours for their private checkride.  I've had them good to go at 35 hours and had to make a few lunch trips to get the time but I also gave a guy his first signoff at 120 hours and 3 years.  He'd flown 40 hours a year for 3 years which hurt much more than helped.  

I've seen it done several times and in one case I actually offered a student an advance on his multiengine checkride for the airplane because he called me to explain he was out of money two days before his practical test.  He passed with flying colors and made good on the advance within a month.

Good luck and have fun with it

 

wait so it might cost 10,000???. what do suggest i do then. There site says u can pay by the month. They said 75 a month. But the gas and other stuff might raise it, so how much a month do you think it will be. And what do you mean "bare minimums". Do you have to fly a cernatin amount, or do you just have to be able to pass a test? Thank you for the help:D

[Meatwad]

Id say figure $150-$200 per month that that may get you into the ballpark

[BaDkaRmA158Th]

Just wait for the end of the world, the muleitary will be willing to put anyone in anything that fly's and can shoot or drop any type of ord.

[ForrestS]

Originally posted by Meatwad
Id say figure $150-$200 per month that that may get you into the ballpark

 

Ya i figured it would be around 200 or so.

[Golfer]

It certainly has the potential to cost you $10,000.  That $150-200/month is only one hour or so with an airplane and instructor.  You're required a minimum of 40 hours total time...you'll probably need 60+ if you're not flying 2-3x a week.  If you figured an average of 2 lessons a week at 2 hours each you're looking at 250 a pop.  500 a week.  2,000/month.

The cheapest you'll do a private for anymore is probably $5,000-$6,000 with the price of fuel what it is being built into the hour rental rates.  Plan accordingly.  It's worth every penny!

[ForrestS]

Dude!!!!!!!!!!!!!!!.  

That means i have to be rich or something. How can i pull this off. I really need some help. Theres no way in hell i can aford 2000 a month.

[ForrestS]

Originally posted by Golfer
It certainly has the potential to cost you $10,000.  That $150-200/month is only one hour or so with an airplane and instructor.  You're required a minimum of 40 hours total time...you'll probably need 60+ if you're not flying 2-3x a week.  If you figured an average of 2 lessons a week at 2 hours each you're looking at 250 a pop.  500 a week.  2,000/month.

The cheapest you'll do a private for anymore is probably $5,000-$6,000 with the price of fuel what it is being built into the hour rental rates.  Plan accordingly.  It's worth every penny!

 


Dude i just remembered there site said you can borrow up to 100% of the cost.

Financing  

Go there and tell me if im right or wrong. And if this is what i should do.  PLEEEEEEEEEASE:D

IM SOOOO SAVED. I hope they will let me.

[Meatwad]

Financing can couse more trouble then what its worth.

I have an honest question, how old are you?


When you ask a company for money, they check two main things: income and credit history. To them if you dont make enough, they wont give you anything (too great of risk). Poor or no credit, the same thing. If you are too young (minor), they wont even give you the time of day. I dont think your parents would sign for it, especially if they think you will have trouble paying it back. It can come back on them and ruin their credit and in the worst case the financing company take them to court for collection.


Another big thing to consider is the terms and interest rate. If you borrow $10,000 you will NEVER pay back that amount only. You will pay a  big part of interest too. For example the one at skymates:

Loan terms 10-15 years
No prepayment penalty
New deferment option - 12 months of payments at only $10 a month /
24 month co-borrower release option
Can apply with a co-borrower
Variable Rate from Prime +1 to Prime +9 based on credit ratings
Online application with a quick turnaround


Say you borrow $10,000 with an interest rate of 8%.
You have a monthly payment of about $96. Takes 15 years to pay it off, you will pay over $7000 interest for a grand total of $17,202.60

10 years is about $122/month for a grand repayment total of about $15,000.

If you are a first time borrower with no credit history and maybe one of your parents as a cosigner, your interest rate will be around 20% if not higher (most likely case)

The following is figured at 20% interest

at 10 years, you pay around $193 a month for a grand total of over $23,191 ($10,000 principal, $13,191 interest).  15 years is about $176/month for a total of $31,613.40 ($10K principal, $21,618 interest)

Borrowing companies bait you in with hopes of low interest, but the real life actual terms/interest is ALWAYS more then what they make you believe.

[Gh0stFT]

Originally posted by ForrestS
Dude!!!!!!!!!!!!!!!.  

That means i have to be rich or something.

imagine, some cant even afford a car today!
flying just for fun is luxus, of course you should have the $.

Even some Airline/Millitary pilots have paragliding for hobby ( )
because flying with fuel is expensive compared with just fly with the wind,
that should a 4 year old know.

[Blooz]

I can give you the wisdom of my father.

When he asked me what I wanted to do after finishing high school I said, "I'd like to go to college."

He said, "Good luck."



Skydiving is cheaper.

You get to ride around in planes, just not as long as the pilot.

[ForrestS]

Hmm. Hard choices here. I HATE school so i think collage is out of the question.  But maybe just maybe my moms boyfriend will help me out. Btw im 16. Im pretty sure he has a good credit history. He just got my mom a new truck and he got himself one to. So it might be possible.  17k would be not too bad. Its really the only choice i have, because i cant afford 2000 a month.  I could just get him to do it and i could just pay him instead.

Dude im gonna be eating ramen noodles for a LONG time.

[Golfer]

Instead of finding a way for others to help you start finding a way for you to help yourself.  You:

A.)  Don't pay rent
B.)  Have no car payment
C.)  Are legal to work
D.)  Probably do not have a girlfriend

Go get a job and pigeon hole money away to pay for your lessons.  Better yet why don't you go get a job working at the flight school and have yourself a nice employee discount on the rentals while actually learning a few things about aviation along the way.

And FWIW if you choose to fly professionally you will be eating ramen noodles for an even longer time.