With its powerful single turboprop engine and spacious pressurized cabin, the SOCATA TBM 700 is a top choice for owner-pilots wanting a high-performance travel machine. I’ve long admired the TBM 700, so I decided to thoroughly research the costs of purchasing and operating this exceptional airplane.

In this in-depth article, I’ll share everything I learned about the TBM 700’s price tag, operating expenses, maintenance needs and financing options. Whether you aspire to own this turbine marvel or just love learning about unique aircraft, read on!

Why Pilots Love the SOCATA TBM 700

First flown in 1990, the TBM 700 appealed to pilots thanks to strengths like:

  • Efficient 750 shp Pratt & Whitney PT6A-64 turboprop engine provides excellent cruise speeds up to 320 ktas.
  • Pressurized fuselage maintains a comfortable cabin altitude up to 31,000 feet.
  • With long range tanks, the TBM 700 offers an impressive 1,730 nm range.
  • The luxurious cabin can comfortably seat 6 adults, with belted lavatory and enclosed baggage area.
  • Sleek high-speed design powered by a proven reliable turboprop engine.
  • State-of-the-art Garmin G1000 avionics suite features fully integrated glass cockpit.

For owner-pilots needing a roomy, pressurized turboprop with luxury comfort and travel flexibility, the TBM 700 hits a sweet spot. Now let’s explore the costs in detail.

What’s the Price Tag on a TBM 700?

While new production of the TBM 700 ceased in 2018, some new old stock aircraft may still be available from SOCATA for around $3.5 million as of 2023. However, most buyers sensibly pursue pre-owned models to get the best value. The used market is far more reasonably priced.

When purchased new, TBM 700 models optioned with luxury interiors, premium paint, maximum avionics and other extras could list for well over $4 million. But today’s pre-owned pricing is much more accessible.

What’s a Realistic Cost for a Pre-Owned TBM 700?

Since the TBM 700 has been out of production for a few years now, purchasing used is the only route.

For a TBM 700 built between 1993 and 2018 that’s in good overall condition with mid-time engines, nice paint and a decent avionics suite, expect to spend $1.5 million to $3.5 million. Many clean examples can be found for under $2 million.

As with any used aircraft purchase, the specifics of condition, maintenance history, engine times, avionics outfitting and interior finish impact pricing significantly. Models needing engine overhaul or major maintenance will be at the lower end of that range.

So while still a substantial investment, a pre-owned TBM can be had for a fraction of the cost of a new comparable turbine-powered aircraft with similar performance.

What Are the Annual Fixed Operating Costs on a TBM 700?

When your TBM 700 is parked in the hangar, you’ll still have yearly fixed operating expenses. Plan on budgeting around $74,605 annually including:

Hangar Costs

For a cabin-class turbine aircraft like the TBM 700 with a nearly 42-foot wingspan, enclosed hangar storage will cost at least $2,000 per month or $24,000 annually. In higher cost urban areas expect to pay upwards of $4,000 monthly.

If hangar space is unavailable at your home airport, covered tiedown may be an option to reduce costs, but keep the aircraft protected.

Insurance Costs

To cover a multi-million dollar turbine-powered aircraft, expect to spend around $25,000 per year for comprehensive hull and liability insurance coverage. Premiums vary based on aircraft value, location, pilot experience and other factors.

Miscellaneous Fixed Expenses

Minor fixed costs like subscriptions for navigation databases, weather services, tiedown or parking fees, maintenance tracking software and similar recurring expenses could total around $605 per year.

So keep around $74,605 set aside in your annual budget for fixed TBM 700 operating expenses even when not flying.

What Are the Variable Costs to Fly the TBM 700?

When you take to the skies and rack up flight hours in your TBM 700, variable operating expenses will accumulate. These will total approximately $68,400 annually assuming 100 flight hours per year.

Fuel Costs

The TBM 700 burns around 60 gallons of jet fuel per hour. At current jet fuel prices around $5.40 per gallon, you can expect to pay about $324 per flight hour on fuel.

Fuel burns more quickly at higher altitudes and power settings, so plan on higher hourly fuel costs if flying max cruise speeds. You can reduce fuel burn by throttling back when possible.

Maintenance Reserves

It’s smart to budget reserves for the TBM’s turbine engine maintenance and future overhaul. Allow around $150 per flight hour, or $15,000 annually based on 100 hours. The initial PT6 engine overhaul is recommended at 3,600 hours.

Unscheduled Maintenance

Even well-maintained turbine engines require occasional unscheduled repairs and maintenance that annual inspections don’t cover. With an advanced engine like the TBM 700’s, budget around $175 per hour, or $17,500 per year for 100 hours.

Miscellaneous Variable Costs

Figure around $25 per flight hour for incidental variable expenses like pilot supplies, landing and parking fees, crew meals and such that aren’t included in your fixed annual budget.

Variable operating costs depend directly on how often you fly your TBM 700. For 100 hours annually, budget around $68,400. The more hours flown, the higher the variables.

What’s the Total Cost Per Hour to Operate the TBM 700?

When fixed and variable costs are combined and divided across an average of 100 flight hours annually, the total hourly operating cost comes out to approximately $1,430. Here’s the breakdown:

  • Fuel Costs: $324/hr
  • Maintenance Reserves: $150/hr
  • Unscheduled Maintenance: $175/hr
  • Miscellaneous Variable Costs: $25/hr
  • Fixed Costs (Annualized): $746/hr

So while not an inexpensive aircraft to operate, the TBM 700 provides excellent turboprop performance and true travel comfort for a reasonable price – both to acquire and fly.

For owner-pilots who need capability well beyond a typical piston single, and routinely carry passengers long distances, the overall operating costs can absolutely be justified.

What Creative Financing Options Exist for the TBM 700?

Very few pilots can afford to purchase a TBM 700 for $1.5 million+ in cash up front. But creative financing options make ownership attainable including:

Aircraft Loans

Banks and credit unions may provide financing, normally with a 20-30% down payment required due to the aircraft’s high value. Interest rates are usually slightly higher than standard auto or home loans. Shop multiple aviation lenders for the best terms.

Leasing

Leasing through a specialty finance company allows you to operate the aircraft without purchasing it outright. This reduces the high upfront capital requirement. Typical lease terms are 4-7 years. At lease end, you either return the aircraft or exercise a purchase option.

Shared/Fractional Ownership

For pilots who can’t afford a whole TBM 700, splitting the purchase price as well as operating costs with a partner or ownership group makes the aircraft more accessible. You have to share availability, but costs are reduced.

Business Entity Ownership

There can be tax advantages to purchasing the aircraft through a business entity rather than individually, especially if used for business travel. Consult an aviation tax expert to explore potential benefits.

For many pilots, creative financing is the only realistic pathway to owning this marvel of turboprop engineering. While owning a TBM 700 outright requires serious capital, shared ownership or leasing open the possibility to more potential buyers.

Is Buying a SOCATA TBM 700 Ultimately Worth the Investment?

There’s no sugar-coating the fact that owning a TBM 700 requires major financial means and long-term commitment. Upfront acquisition costs, ongoing maintenance, engine reserves, insurance coverage and other expenses associated with this level of aircraft are major considerations.

However, pilots that frequently need to carry passengers and luggage across long distances will find the operating costs can absolutely be justified.

The TBM 700 provides excellent efficiency, proven reliability after decades of service, and true transcontinental-capable comfort few turboprop singles can match.

For owner-pilots running aircraft-intensive businesses, or those who simply desire the capabilities of a well-equipped pressurized turbine single, the TBM represents a fantastic ownership experience that can enhance aviation enjoyment, safety, and utility.

While chartering a TBM is always an option for pilots with more modest budgets, nothing quite compares to having your own plane tailored to your missions and needs. With prudent budgeting and financing, ownership is attainable for many pilots.

I hope this detailed look at the SOCATA TBM 700’s costs, capabilities and financing options has provided prospective owners helpful guidance.

This exceptional aircraft remains one of the most desirable turboprop singles even after production ceased, for good reason! Perhaps I’ll see you cruising high one day in your very own TBM.

My name is Sean Walsh, and I'm the founder and writer of this website. For as far back as I can remember, I've always been interested in flying. A few years ago, I passed my check ride and got my PPL certificate! I'm now a private pilot with over 500 hours of flying time. Read more about me here.