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If the airplane light-sport aircraft is properly equipped, and the pilot has a private pilot rating, it can be flown at night. Also, if the airplane light-sport aircraft is properly equipped, and the pilot has a private pilot instrument rating, it can be flown in IFR conditions by instruments.
The Sport pilot airplane license is about half the cost of the private pilot airplane license. Using airplane as an example, some schools offer the minimum hours and $2500 to get your sport pilot license. However, this is only the minimum flight hours and it typically takes more time/hours than this minimum. For this low rate there is typically no ground school included.