Own vs. Rent? Mwahahah!
Fellas, I don't make a trip to the men's room without running the numbers. So when I decided to buy my Citabria, I built a pretty detailed spreadsheet, that included things like cost of capital, escrow for engine overhaul, escrow for instrument overhaul, annuals, oil changes, fuel costs, insurance and hangar. And about 20 other variables that you wouldn't even think would enter into aircraft ownership.
The breakeven point, expressed in hours, between owning my Citabria and renting a similar one (a 7ECA) was about 100 hours per year.
Which, if you and a buddy are getting your tickets, and live in an area like the desert southwest where there are hundreds of VFR days per year, is entirely reasonable.
Unfortunately, reality reared it's ugly head: I'm embarrassed to say how many actual hours I put on the Citabria last year, but it was nowhere NEAR 100. Which means that economically, it's cheaper to rent.
Now, who can put a value on knowing that YOU were the last one to fly the airplane? That was pretty important to me, especially when you consider that it's an aerobatic airplane-- you do NOT want the guy before you pulling 9g when he botches a snaproll, and then not mentioning it. My Citabria has metal wings, new spars, new covering, etc., and most rentals tend to be pretty well-used. So that's a factor.
All in all, I'm not saying don't buy an airplane, but I am saying, make a very realistic assessment of your hourly usage, then cut that number in half and run it through your model. If it works out, great!
And wait just a damned minute, how dare you fellas bust on the C150? It's the PERFECT training airplane. . . particularly if it has a turquoise/brown paint scheme, manual flaps, and smells like a mix of engine oil and vomit. Now THAT's renting!
Also, you don't need no fancy GPS. Pilots today are encouraged to learn situational awareness by looking at pictures on a box. Not good: someday that fancy box is going to take a dump, and you'll be DEAD. Learn it the old-fashioned way, by looking out the window with a sectional chart. I'm not talking about dead reckoning, with a chart, a compass and your watch. Just your eyes and the chart. Once you've mastered the "OK, there's a lake that looks like a goat's head, and here's a lake that looks like a goat's head on my chart" THEN you're ready for "OK, I've been flying for 1 hour on a magnetic heading of 090 and I estimate the wind correction angle using my E6B to be seven degrees and therefore I'm somewhere near Goat's Head Lake." Then ADF. Then VOR. Then, and only then, should your hand reach for the power switch on the magic box.
And keeping your eyes out of the cockpit, particularly if you are learning to fly in California, is a GREAT idea for traffic avoidance. As my Grandfather (Private, 1952, Instrument Instructor, Boeing Airplane Co. -1982) was fond of saying, "Better a stiff neck than a broken one."
This was a fun thread. . . .
http://forums.pelicanparts.com/showthread.php?threadid=185721&highlight=citabria