The iconic Cirrus SR22T is a widely sought-after single-engine, piston-powered airplane. As an aviation enthusiast, I have always dreamed of owning one and took it upon myself to investigate the costs associated with purchasing and maintaining a Cirrus SR22T. In this article, I will share my findings for both new and pre-owned SR22Ts.
How much will a Cirrus SR22T cost me? A brand new Cirrus SR22T has a price tag of $779,900 in 2023, while a pre-owned Cirrus SR22T (manufactured between 2002 and 2022) ranges from approximately $199,500 to $1,249,000. Factoring in expenses such as insurance, maintenance, and hangar fees, the total annual cost of ownership (excluding depreciation) is estimated at $29,125. The variable operating cost is roughly $90 per hour, assuming 100 hours of flight time per year.
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Why the Cirrus SR22T is a Favored Choice
The Cirrus SR22T is a top choice for newly licensed private pilots due to its moderate pricing, fuel efficiency, and effortless handling. This exceptional aircraft offers an ideal balance of performance and affordability, making it a popular option in the aviation community.
The Cirrus SR22T is an impressive aircraft capable of carrying up to 4 passengers, including the pilot. In this article, we will discuss the total cost of ownership and various financing options for purchasing a Cirrus SR22T.
Our guide on choosing a small plane for your needs will help you find the perfect fit.
Cost of Purchasing a Cirrus SR22T
There is a significant price difference between buying a new or used Cirrus SR22T. A new Cirrus SR22T has a starting price of approximately $779,900. When purchasing a new aircraft, you can expect it to be in perfect working condition. There are numerous optional extras to consider, such as avionics, upholstery selections, an enhanced visibility package, autopilot, TKS deicing system, air conditioning, oxygen system, and other add-ons.
If you’re working with a budget, a well-maintained used Cirrus SR22T can be found within the price range of $199,500 to $1,249,000 for a 2002 to 2022 model. By carefully considering your requirements and budget, you can find the perfect Cirrus SR22T for your needs.
The Cirrus SR22T, a highly popular aircraft, offers a wide range of prices based on factors such as its condition, age, and location. With its launch in 2001 and continued production, there is an abundance of SR22Ts available in the market. You can likely find a decent condition Cirrus SR22T for around $199,500, but keep in mind that these aircraft tend to sell quickly once listed.
Ownership Costs of a Cirrus SR22T
Purchasing a Cirrus SR22T is just the beginning of the expenses you will incur. Be prepared for the fixed and variable running costs, which amount to an estimated total cost of ownership of $29,125 annually.
Based on 100 annual flying hours, you can expect fixed costs of approximately $14,225 and variable costs around $14,900. Depreciation costs are also a factor to consider, though it’s difficult to estimate these for your specific situation due to the numerous variables involved.
At PilotPassion, our mission is to provide the most engaging and accurate aviation content for enthusiasts and student private pilots alike. We strive to put ourselves in your shoes, aiming to save you time and effort in your search for reliable information regarding the costs of owning and operating a Cirrus SR22T.
Owning an airplane, such as a Cirrus SR22T, involves various fixed and variable costs that beginners might not be aware of. This applies to all aircraft, not just the SR22T. If you purchase your new or used Cirrus with a lump sum cash payment, you won’t need to worry about financing costs. However, if you secure a loan to finance the purchase, remember to account for interest repayment costs.
What Are the Fixed Costs for Cirrus SR22T Ownership?
Fixed costs of aircraft ownership are expenses that you’ll have to pay regardless of whether the aircraft is flown or not. So even if you buy an SR22T and never fly it, you’ll still need to cover fixed costs such as the one-time purchase price, hangar fees at the airport, insurance costs, and the annual inspection cost. The total fixed costs are estimated to be around $14,225.
Additionally, you should consider the depreciation of your aircraft as an asset. However, due to the many variables involved, such as age, initial cost, resale value, and market conditions, we cannot provide an accurate figure for depreciation.
To adequately prepare for the annual inspection, you will likely need to pay for any necessary maintenance required to pass the inspection. Some people categorize these maintenance costs as variable costs, but we recommend classifying them as fixed costs since you’ll probably need to pay for them regardless of whether you fly or not. We have also taken into account some regular subscriptions you might be paying for, such as weather services or ForeFlight.
Hangar Costs for a Cirrus SR22T
Hangar costs for a Cirrus SR22T can vary significantly based on the location and the storage facility you choose to rent from. In the US, hangar space can be found for as low as $70 per month, though it’s advisable to allocate a higher budget for improved amenities and security. Renting is not the sole option; alternatively, you may consider building or purchasing your own hangar.
How much does insurance cost for a Cirrus SR22T?
Contrary to popular belief, insurance for owning and operating a Cirrus SR22T might be more affordable than expected. Similar to hangar costs, insurance premiums vary greatly depending on factors such as location, flight frequency, aircraft value, and coverage type.Insurance pricing for aircraft can greatly differ due to multiple factors, making it essential to shop around for the best rates.
Keep in mind that lower rates usually only include liability coverage, which does not cover damage or loss to the aircraft itself but does cover injury or damage to third parties. The primary factor in determining the cost of insuring a Cirrus SR22T is the airplane’s valuation.
The cost to insure a used Cirrus SR22T is approximately $8,700 per year. However, insuring a brand new Cirrus SR22T can cost significantly more due to the high replacement value of a new aircraft.
How much is an annual inspection for a Cirrus SR22T?
The FAA requires an annual inspection for all aircraft, which typically costs around $1,600 for a Cirrus SR22T. In addition to the inspection, it’s vital to ensure that all parts are functioning correctly and that oil and other fluids are topped up as needed. The fixed maintenance costs, including the annual inspection, can amount to approximately $14,225 per year.
What Are the Variable Costs for Cirrus SR22T Ownership?
Variable costs associated with owning a Cirrus SR22T include expenses such as fuel, oil, unscheduled maintenance, and miscellaneous costs like landing fees, parking, and minor travel expenses. These costs can amount to approximately $14,900 per year.
The hourly variable cost for operating the SR22T is estimated at around $149. It is essential to note that these figures are approximations, as individual experiences may differ. The longer you own the aircraft, the more likely it is for annual variable costs to increase. Unlike fixed costs, variable expenses are only incurred when the plane is in operation.
Cirrus SR22T Fuel Costs
The Cirrus SR22T aircraft operates on avgas, which incurs an expense of approximately $90 per flight hour. With the current avgas price set at around $5 per gallon, the Cirrus SR22T consumes an average of 16.4 gallons per hour. It is advisable to compare avgas prices at various airports, as the rates may vary based on location and facility usage.
Cirrus SR22T Oil Maintenance
For those with technical expertise, performing oil changes on the Cirrus SR22T can be a cost-saving measure by eliminating labor expenses.In order to avoid additional expenses for labor, oil, and filters, it is essential to consider the maintenance costs associated with a Cirrus SR22T. The oil cost for this aircraft typically amounts to approximately $4 per running hour.
Cirrus SR22T Engine Maintenance Costs
Every 2,000 hours, the engine of a Cirrus SR22T requires an overhaul. The cost of overhauling an airplane engine is subject to various factors, including the engine’s condition, age, and hours of wear and tear. Ensuring safety is of utmost importance, making this overhaul process a crucial aspect of aircraft maintenance.
During the engine overhaul, each component is meticulously examined. This inspection includes the pistons, bearings, cylinders, and other vital engine parts. By employing SEO-optimized language and maintaining conciseness and readability, this revised text informs readers about the maintenance costs and processes associated with a Cirrus SR22T.
Repairs or replacements are performed as needed. As more flight hours accumulate on an engine, the frequency of complete overhauls increases. Now that we’ve discussed fixed and variable costs, let’s explore how to afford a Cirrus SR22T!
Financing Options for Purchasing a Cirrus SR22T
There are several financing alternatives available for purchasing a Cirrus SR22T, which I’m aware of through friends who own this type of aircraft. One option is to secure a loan from a bank or financial institution.
Another possibility is leasing the aircraft, allowing you to use it for a specified period before returning or purchasing it at the end of the lease. You might consider buying a share in a Cirrus SR22T with a trusted group of individuals.
This collaborative approach can make ownership more accessible and cost-effective. Whichever method you choose to purchase a Cirrus SR22T, ensure that you thoroughly read and understand the terms and conditions before signing any documents. It is crucial to comprehend the complete terms and potential costs you may be responsible for.
Taking out a loan for a Cirrus SR22T
One option for financing a Cirrus SR22T is applying for a conventional loan from a bank or credit union. If you possess a high credit score and a strong financial background, this could be a smart choice. Alternatively, you could consider applying for a loan specifically designed for aircraft financing. These loans often provide more lenient terms and may be more willing to work with you if you have less-than-perfect credit.
Practical advice: Before selecting a lender, it is always recommended to shop around and compare rates and terms from various lending institutions. Carefully evaluate your financial situation and ensure that you can comfortably manage the loan payments.
For those who are not interested in purchasing an aircraft outright, leasing a Cirrus SR22T can be an easy and cost-effective financing solution. With a lease, you agree to use the aircraft for a predetermined period—usually several years—in exchange for a fixed monthly payment.
At the end of the lease, you have two options: return the aircraft to the owner or purchase it for a predetermined sum. There are wet leases (which include a pilot) and dry leases (only the aircraft). The dry lease option is what most people choose.
It is essential to thoroughly explore and compare leasing opportunities from different providers. Leasing agreements can involve substantial paperwork, so it’s crucial to read the fine print. Just like with loans, consider your ability to make payments throughout the entire lease term.
Buying a Share in a Cirrus SR22T
Investing in a share of an aircraft allows you to own a portion of the plane and operate it jointly with other owners. This co-ownership option can be a practical alternative to full ownership or long-term leasing, especially if you require consistent access to an aircraft.
Commonly known as ‘shared ownership’ or ‘fractional ownership,’ this approach allows individuals or organizations to own a portion of an aircraft, typically through an initial investment followed by ongoing maintenance and operational costs. Often, local flying clubs facilitate such arrangements, introducing many people to the concept of owning a share in a Cirrus SR22T, for example.
Fractional ownership provides the benefits of aircraft ownership without incurring the entire purchase cost, making it accessible for those seeking a more affordable solution. By sharing the aircraft’s initial purchase price and subsequent maintenance and operational expenses, owners can reduce overall costs. The extent of each owner’s access and maintenance responsibilities depends on their individual share size.
This option can be appealing to people who wish to fly for personal or professional reasons but lack the funds or necessity to own an entire plane. It also serves as a practical alternative for businesses requiring regular access to an aircraft without assuming the responsibilities of full ownership.
Cirrus SR22T Specifications
Manufacturer: Cirrus Aircraft Model: Cirrus SR22T First flight: SR22 model introduced in 2001, SR22T model introduced in 2010 Production years: 2001-present (SR22 series), 2010-present (SR22T model) Role: Light, single-engine piston aircraft Seating capacity: Up to 5 passengers (including pilot) Engine: 1 x Continental TSIO-550-K turbocharged, air-cooled, horizontally-opposed piston engine Horsepower: 315 hp (235 kW) Wingspan: 38 ft 4 in (11.68 m) Length: 26 ft 0 in (7.92 m) Height: 8 ft 11 in (2.72 m) Maximum speed: 213 mph (343 km/h, 185 kt) Cruise speed: 211 mph (339 km/h, 183 kt) Range: 1,200 miles (1,930 km, 1,041 nautical miles) Service ceiling: 25,000 ft (7,620 m) Rate of climb: 1,203 ft/min (6.11 m/s) Wing loading: 23.6 lb/ft² (115.2 kg/m²) Power/mass: 0.13 hp/lb (0.21 kW/kg) Fixed tricycle landing gear configuration Known for: Advanced avionics, luxurious interiors, and built-in Cirrus Airframe Parachute System (CAPS) for enhanced safety Popular uses: Personal transportation, flight training, and air taxi services Garmin Perspective+ avionics suite: Offers state-of-the-art navigation, communication, and flight management capabilities
The ownership cost of a Cirrus SR22T, or any aircraft for that matter, can indeed be quite steep. However, it all depends on one’s perspective. For those who are passionate about flying and can afford the expenses, the investment can be truly worthwhile.
In comparison to other aircraft, the SR22T’s costs are rather reasonable. A rough estimation puts the operating cost for this particular aircraft at approximately $291 per hour, including both fixed and variable expenses. The variable costs, which encompass fuel, oil, and maintenance, account for around $149 per hour.
Many newly certified private pilots choose to rent a Cirrus SR22T instead of purchasing one, as this option may be more financially viable for them. With that said, we’ve reached the end of this article.
Wishing you safe and enjoyable flying experiences!