AirTalk.org Aviation discussions newsgroups   Archives   FAQ   Search   Memberlist   Usergroups   Register   Profile   Log in to check your private messages   Log in  Cost of owning a Diamond DA40, new vs 5-6 years old          AirTalk.org Forum Index -> Owning Airplanes View previous topic :: View next topic   Author Message Guest Posted: Tue Oct 17, 2006 6:11 am    Post subject: Cost of owning a Diamond DA40, new vs 5-6 years old Any DA40 owners here ? Assume one flies 100-150 hours/year, how much is the annual cost associated with owning a new DA40 ? What about a 5-6 years 2nd hand one ? I don't own business and have no way of writting off any of the costs. Thanks in advance. P S Back to top Peter R. Guest Posted: Tue Oct 17, 2006 6:11 am    Post subject: Re: Cost of owning a Diamond DA40, new vs 5-6 years old <mistersky (AT) gmail (DOT) com> wrote: Quote: What about a 5-6 years 2nd hand one ? I don't own business and have no way of writting off any of the costs. Responding here as a one time owner of new and used small aircraft, I would look to purchase a used aircraft rather than a new one, especially in the case where one is unable to write off the large depreciation expense. In my experience, new single-engine aircraft these days are just like new automobiles. Fly them off the showroom floor and the damn things depreciate 20 percent that instant. Wait another year and resale value falls even more. Perhaps not so dramatically, but it is a significant expense that outweighs the protection of a new airplane warranty. But that is only one man's opinion... -- Peter Back to top Guest Posted: Tue Oct 17, 2006 6:11 am    Post subject: Re: Cost of owning a Diamond DA40, new vs 5-6 years old Peter R. wrote: Quote: mistersky (AT) gmail (DOT) com> wrote: What about a 5-6 years 2nd hand one ? I don't own business and have no way of writting off any of the costs. Responding here as a one time owner of new and used small aircraft, I would look to purchase a used aircraft rather than a new one, especially in the case where one is unable to write off the large depreciation expense. In my experience, new single-engine aircraft these days are just like new automobiles. Fly them off the showroom floor and the damn things depreciate 20 percent that instant. Wait another year and resale value falls even more. Perhaps not so dramatically, but it is a significant expense that outweighs the protection of a new airplane warranty. But that is only one man's opinion... -- Peter Indeed. There is a clifff on the price trend. It falls off quite steeply in 5-6 years. Which is why I'm staring at the 5-6 year old planes. A new one does give one the assurance that no one has buried any fatigues in the structure. Only issue is I'm sensitive to both the initial and the ongoing costs. P S Back to top Steve C Guest Posted: Tue Oct 17, 2006 6:05 pm    Post subject: Re: Cost of owning a Diamond DA40, new vs 5-6 years old I have a 2001 Star, which I purchased new 5 years ago. As others have noted, there is a big depreciation on new airplanes. On the other hand, new Diamonds come with a 2 year warranty. I spent zero on repairs during the first two years (and very little since then). You can calculate your own expenses such as debt service, hangar or tiedown. Figure 9 gal/hr fuel burn. Insurance is relatively inexpensive, as there is a good loss experience with Diamonds. All the new Stars are G1000 equipped and run close to $300K. The older Garmin or Bendix King equipped models are lots cheaper. Steve mistersky (AT) gmail (DOT) com wrote: Quote: Any DA40 owners here ? Assume one flies 100-150 hours/year, how much is the annual cost associated with owning a new DA40 ? What about a 5-6 years 2nd hand one ? I don't own business and have no way of writting off any of the costs. Thanks in advance. P S Back to top Guest Posted: Wed Oct 18, 2006 6:11 am    Post subject: Re: Cost of owning a Diamond DA40, new vs 5-6 years old Nothing major to fix for the first 5 years. What a luxury. For the last 3 years, how much did the annuals cost ? I actually don't care much about the G1000 panel. I can live with it, but don't feel a loss with anything else. In this respect, the 5-6 years old planes are not any less desirable. Steve C wrote: Quote: I have a 2001 Star, which I purchased new 5 years ago. As others have noted, there is a big depreciation on new airplanes. On the other hand, new Diamonds come with a 2 year warranty. I spent zero on repairs during the first two years (and very little since then). You can calculate your own expenses such as debt service, hangar or tiedown. Figure 9 gal/hr fuel burn. Insurance is relatively inexpensive, as there is a good loss experience with Diamonds. All the new Stars are G1000 equipped and run close to $300K. The older Garmin or Bendix King equipped models are lots cheaper. Steve mistersky (AT) gmail (DOT) com wrote: Any DA40 owners here ? Assume one flies 100-150 hours/year, how much is the annual cost associated with owning a new DA40 ? What about a 5-6 years 2nd hand one ? I don't own business and have no way of writting off any of the costs. Thanks in advance. P S Back to top Steve C Guest Posted: Wed Oct 18, 2006 5:29 pm    Post subject: Re: Cost of owning a Diamond DA40, new vs 5-6 years old mistersky (AT) gmail (DOT) com wrote: Quote: how much did the annuals cost ? About $450 per. I do owner assisted annuals, my IA charges $300 for the inspection. Other Star owners report about $1800 for an annual, without the owner assist. It is a relatively easy airplane to work on, no corrosion issues to deal with because of the composite structure. There are currently NO ADs on the DA40 airframe. There is one recurring AD inspection on all Lycoming fuel injected engines, including the IO360-M1A in the Star. One issue with the non-G1000 airframes is future resale value. If you plan to keep the airplane for a while, the steam gauge version is a 'best buy'. Steve Back to top Guest Posted: Sat Oct 21, 2006 6:11 am    Post subject: Re: Cost of owning a Diamond DA40, new vs 5-6 years old Peter wrote: Quote: mistersky (AT) gmail (DOT) com wrote Nothing major to fix for the first 5 years. What a luxury. Not unusual. I bought a new Socata TB20 in 2002; spent nothing in the first two years and spent close to nothing since. The warranty bill was massive though; about US$100k of mostly American (Honeywell) avionics had to be replaced... I firmly expect to spend close to nothing for another 5-10 years. Then, airframe parts will start to go. I firmly believe that every penny saved by buying an old airplane is returned, plus hassle, in the form of extra maintenance costs. This is a very interesting statement. I bet it is especially true to owners whos hourly earning rates are above the usual range . Quote: It's not like cars, which tend to be very reliable nowadays all the way through their life, and start to cost big money only when they start to rust right through, and that takes ~ 15 years on most of the decent types (here in Europe, anyway); BMW, Honda, Toyota, etc. By that time the car is worth close to zero anyway; in fact it's worth close to zero (say less than 10% of its purchase price) a long before then. I bought a 10 year old Toyota last year and expect to get 10 more out of it. Cars are not a valid comparison, IMHO. The DA40 seems to be largely problem free - except for the Thielert diesel engines which have a long history of troubles and it isn't apparent that this is sorted, but as an American you are probably not looking at that version. Yes. I try to stay alive first, then worry about the environment . 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