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-   -   Somebody check my thinking please (https://vansairforce.net/community/showthread.php?t=125374)

exsterminator 05-05-2015 09:42 AM

I agree, some good general ownership info.

Can people please explain why the lure of a super old Cherokee/172 for $50,000 is stronger than an RV at same price? What am I missing? Is it the concern over the previous Vans owners' build quality?

Auburntsts 05-05-2015 09:54 AM

I would recommend you decide whether you are buying for the purpose of getting your ticket or to be an owner--the 2 are not synonymous. I say this because generally speaking renting, from a purely checkbook perspective, is by far the cheapest way to fly unless you began to exceed around 100hr a year. From my years of hanging out on the AOPA and POA forums, it seems the guys who make out buying to get their ticket are the guys buy something cheap but solid, fly the #2 out of it to get whatever rating they were shooting for then dump it basically for what they put into it.

Here's what you need to understand:
1. The initial purchase cost is the cheapest part of ownership
2. There's no way to rationalize the cost of ownership in terms of money

bhassel 05-05-2015 11:35 AM

Quote:

Originally Posted by exsterminator (Post 980492)
I agree, some good general ownership info.

Can people please explain why the lure of a super old Cherokee/172 for $50,000 is stronger than an RV at same price? What am I missing? Is it the concern over the previous Vans owners' build quality?

A super old (late 50's -early 60's) 172 asking price is generally in the 20k to low 30k range (depending on condition). You should be able to find a good plane for under 35k. It's reaaaaallllly difficult to find an RV under 35k that is flying or at least an RV with 2 seats that could be used for training.

As others have mentioned there are other models of experimental aircraft that might fit that bill however; Thorp T-18's, Sonex (tight squeeze for two real people), Davis and the list goes on. You need to make sure however, you can get insurance for that particular model. RV's are the standard in the experimental world so getting financing and insurance for them is easier than many experimentals. Especially when you are using the aircraft for getting your private pilot training and have little to no hours in any aircraft.

Bob

DonFromTX 05-05-2015 11:38 AM

And another option: I have a friend has a Cessna 150 for sale. Times are really nice, and it is IFR certified! He used it to get his IFR ticket and is now selling it - for only $22,000. Not as fast as some planes, but darned cheap to keep and will probably be worth the same when you don't need it any longer.

Timbeck2 05-05-2015 12:07 PM

Found a Cherokee in Mesa. Like I said, I've never bought a plane before. So I have NO idea if this is a good price.

http://www.controller.com/listingsde...40/1370695.htm

Timbeck2 05-05-2015 12:42 PM

Okay fellas, showing my ignorance here but to complete strangers mostly so it doesn't really matter...right?

I texted (is that a verb?) the guy in Mesa to see if it was still for sale and he replied yes. Like I said, I've bought several cars but never an airplane. I know that I'll need a qualified A&P to look at it (I know none and don't even know where to look first) I'll have to arrange financing, insurance, and hanger space. I have no idea of what paperwork is involved in the sale. I'm not going to assume that it is as easy as signing the back of a title like on a car.

So I guess what I'm asking is: What steps do you take to buy an airplane?

:o <----- yes, pretty accurate description of myself

CATPart 05-05-2015 12:58 PM

Go to the FAA website and you will figure it out. Download FAA-H-8083 "PLANE SENSE" see chapter 2 titled "buying an aircraft" and they tell you what to do.

Palamedes 05-05-2015 01:10 PM

Quote:

Originally Posted by CATPart (Post 980556)
Go to the FAA website and you will figure it out. Download FAA-H-8083 "PLANE SENSE" see chapter 2 titled "buying an aircraft" and they tell you what to do.

http://www.faa.gov/regulations_polic...h-8083-19a.pdf

BobTurner 05-05-2015 01:16 PM

As a rookie, you need to hire someone knowledgeable to be your agent - look at the condition of the plane in question, research the true market value.

The truth is that many owners overvalue their plane; and unless they're in a real hurry to sell, they just wait for someone to come along and pay more than it's worth. And what it's worth is exactly what someone will pay!

Get (pay for) some help. And not the seller's A&P!

rleffler 05-05-2015 01:27 PM

Quote:

Originally Posted by Auburntsts (Post 980497)
I would recommend you decide whether you are buying for the purpose of getting your ticket or to be an owner--the 2 are not synonymous. I say this because generally speaking renting, from a purely checkbook perspective, is by far the cheapest way to fly unless you began to exceed around 100hr a year. From my years of hanging out on the AOPA and POA forums, it seems the guys who make out buying to get their ticket are the guys buy something cheap but solid, fly the #2 out of it to get whatever rating they were shooting for then dump it basically for what they put into it.

Here's what you need to understand:
1. The initial purchase cost is the cheapest part of ownership
2. There's no way to rationalize the cost of ownership in terms of money


When I did the calculations for my purchase decision, my ROI was right about 100 hours per years. If I flew the plane less than that, renting was less expensive.

Of course it's hard to place a value of jumping in an aircraft anytime you want and not dealing with all the trials and tribulations of rental aircraft.


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