Fair point Rod, I just did the sums.
Sitting the first C172 on the ground all year equates to flying the MCR (adding in tie down fees, I allowed £92/month which is Popham) is the same as flying 307 hrs in the MCR.
Comparing like with like a little more however, the breakeven between the Jabiru and C152 below is similar. I make it 130 hours in the Jabiru for the same money as sitting the C152 on the ground and just admiring it. for the PA38 it comes out at 199 hrs.
So yes, I should have done that sum - there seems a very poor case for owning the old "heavy metal" aeroplanes.
I confess I do own some old heavy metal, and an old microlight - and there are certain other benefits. I have 6 hours endurance 2-up in the Grumman AA5, and the satisfaction of flying a 64 year old taildragger with 400kg payload in the other, and both at night. For fun, I fly a thruster at your sort of numbers. 2/3 of those we can store on a tie-down, which you'd not do with a modern composite aeroplane - hangerage costs.
But to be fair, charge £200/month for hangerage, and you still get 93 hours out of your Jabiru for the same price as sitting a C152 on the ground.
Yes there is a very strong case for scrapping a lot of these old aeroplanes if they are going to be flown by VMC PPLs and replacing them with something newer, lighter, and cheaper to run.
G