I paid $19K for my plane, no loan. The engine had 2000 hrs SMOH when I bought it, so I set aside another $12K for the eventual overhaul. I set up a checking account just for airplane expenses. Each month I deposited $400 into it. After all expenses (maintenance, hangar, insurance, annual, fuel & oil for about 80 hrs of flying, misc repairs, improvements...), each year I usually have about $500 left. My average hourly cost is $55, not counting the "cost of money" to buy the plane. I've owned it since March 2001. I enjoy it. No regrets.

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