The Cirrus SR22-G5 is a standout aircraft in the general aviation sector, celebrated for its blend of advanced technology, performance, and safety features. As the fifth generation of the SR22 series, it represents a culmination of years of innovation, offering pilots and owners a unique experience. However, understanding the price and operating costs associated with this aircraft is crucial for prospective buyers and current owners alike.
Acquisition Cost of the Cirrus SR22-G5
When considering the purchase of a Cirrus SR22-G5, the initial acquisition cost is one of the most significant factors. As of the latest market analysis, the base price for a new Cirrus SR22-G5 starts at approximately $729,000. This price can fluctuate based on customization options, additional features, and avionics packages that a buyer may choose.
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Base Price: $729,000
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Customized Features: Custom paint, interiors, and additional avionics can increase the price by $50,000 to $100,000.
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Special Edition Models: Limited edition models or those with exclusive features can push the price up to $800,000 or more.
Used Cirrus SR22-G5 aircraft are available at a lower cost, with prices ranging from $500,000 to $650,000 depending on the year, condition, total flight hours, and maintenance history.
Financing Options
For many buyers, financing is a key part of the purchase process. Financing a Cirrus SR22-G5 typically involves a down payment of 15% to 25% of the purchase price, with interest rates ranging from 4% to 6%. Loan terms often extend up to 20 years, making it possible for buyers to manage their financial commitments while enjoying the benefits of ownership.
Example Financing Breakdown
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Aircraft Price: $750,000
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Down Payment (20%): $150,000
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Loan Amount: $600,000
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Interest Rate: 5%
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Monthly Payment: Approximately $3,960 over 20 years
Operating Costs
Owning a Cirrus SR22-G5 goes beyond the initial purchase. Operating costs are a critical aspect of ownership that includes fuel, maintenance, insurance, and hangar fees. Let’s break down each of these costs in detail.
Fuel Costs
The Cirrus SR22-G5 is powered by a Continental IO-550-N engine, which runs on 100LL avgas. The fuel burn rate is approximately 18-20 gallons per hour (GPH) at a cruise speed of 180 knots. Given the current average price of $6.00 per gallon for 100LL, here’s how the fuel cost would look:
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Average Fuel Consumption: 19 GPH
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Cost per Hour: 19 GPH * $6.00 = $114 per hour
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Annual Fuel Cost (200 flight hours): $114 * 200 = $22,800
Maintenance Costs
Maintenance is another significant expense. The Cirrus SR22-G5 requires regular inspections, parts replacement, and repairs to ensure it remains in peak operational condition. Maintenance costs can be categorized into scheduled and unscheduled expenses.
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Scheduled Maintenance: Includes annual inspections, oil changes, and minor repairs. Expect to pay between $5,000 to $7,000 annually for scheduled maintenance.
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Unscheduled Maintenance: Covers unexpected repairs due to wear and tear, which can vary widely. On average, owners should budget an additional $3,000 to $5,000 annually.
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Overhaul Costs: The engine typically requires an overhaul after 2,000 flight hours, which can cost around $40,000 to $50,000.
Insurance
Insurance is a mandatory cost for aircraft owners. The cost of insuring a Cirrus SR22-G5 depends on several factors, including the pilot’s experience, the aircraft’s value, and the coverage limits. On average, annual insurance premiums range from $6,000 to $10,000.
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Liability Coverage: Provides protection against third-party claims. Typical coverage limits are $1 million.
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Hull Coverage: Covers damage to the aircraft itself. This can be based on an agreed value or actual cash value, depending on the policy.
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Premiums: Highly experienced pilots may receive lower premiums, while less experienced pilots could pay more.
Hangar Fees
Hangaring your aircraft is essential to protect it from the elements and extend its lifespan. Hangar fees can vary significantly based on location, amenities, and the type of hangar.
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T-Hangar: Basic shelter, costing between $300 to $600 per month.
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Shared Hangar: Offers more amenities, with fees ranging from $600 to $1,200 per month.
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Private Hangar: The most expensive option, offering complete privacy and customization, with costs ranging from $1,500 to $3,000 per month.
Annual Fixed Operating Costs Summary
| Expense | Estimated Annual Cost |
|---|---|
| Fuel | $22,800 |
| Scheduled Maintenance | $5,000 – $7,000 |
| Unscheduled Maintenance | $3,000 – $5,000 |
| Insurance | $6,000 – $10,000 |
| Hangar Fees | $3,600 – $36,000 |
| Total | $40,400 – $80,800 |
Depreciation
Depreciation is an important consideration for any aircraft owner. The Cirrus SR22-G5 typically depreciates by 5% to 8% per year. This rate can be influenced by the overall condition of the aircraft, market demand, and the number of flight hours logged. Owners should expect their aircraft to retain approximately 70% of its value after five years of ownership.
Resale Value Considerations
The resale value of a Cirrus SR22-G5 can be enhanced by:
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Maintaining Low Flight Hours: Aircraft with fewer flight hours typically command higher resale prices.
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Regular Maintenance: Keeping up with all scheduled maintenance and retaining detailed records will positively impact resale value.
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Upgraded Avionics: Installing the latest avionics and safety features can make the aircraft more appealing to potential buyers.
Additional Costs to Consider
Apart from the primary operating costs, owners may face other expenses, such as:
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Avionics Updates: Regular updates to the avionics system can cost between $1,000 to $2,500 annually.
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Subscription Services: Costs for services such as XM Weather, navigation databases, and autopilot enhancements can add another $1,000 to $2,000 per year.
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Training: Pilot training, especially for advanced features like the Cirrus Airframe Parachute System (CAPS), can cost $2,000 to $4,000 depending on the course and location.
Conclusion
The Cirrus SR22-G5 is a remarkable aircraft offering exceptional performance, safety, and comfort. However, ownership comes with a range of costs that extend beyond the initial purchase price. Understanding these costs, including financing, operating expenses, and depreciation, is essential for anyone considering this investment. While the financial commitment is significant, the rewards of owning a Cirrus SR22-G5—from the joy of flying a high-performance aircraft to the pride of ownership—make it a compelling choice for many pilots and aviation enthusiasts.
