WWYD - looking at a PA28 that's been sitting a year after prop strike

MarkH said:
I would not pay more than the core value of a prop strike engine. During a year when aircraft rentals were up compared to previous years, while installed in a rather popular and in demand airframe. Someone made the business decision that it was not worth the time to deal with.

Offering $1 for the aircraft means taking the bet that:
1) They don't know something that you don't.
2) They did their math wrong on the value of addressing this rather than paying the tie down cost every month to ignore it.
3) Your time is worth significantly enough less to change the math on if this is worthwhile to deal with.
or 4) They are just bad at estimating value.

There is a non-zero chance that one of these 4 is true, but make sure you understand what you are betting on before you put your money on the line.
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It's possible the repaired value is significantly more than the core value + cost to repair, but the owner dosen't have the capital to invest at the moment. Even if insured, a flight school might chose not to make a claim for "just an engine" because they are more concerned about keeping their policy in force and premiums low. If any of that is true, a lowball offer would be uninteresting.

If it's a working airplane that can't work, offer to finance the repairs in exchange for a share in the airplane....
 
sitting in florida outside for a year, i would bet the cam is toast. plan on a overhaul.
 
I went to the airport today and took a long hard look at the plane again. It has some significant paint degradation. The interior is horribly heat soaked and the poor Garmin 430 screen looks like somebody took a blow torch to it.

The prop not only has a curl in the tip but is also significantly skewed.

I think I'm going to pass on this for sure.
 
Nothing beats eyes on it, with a long sobering objective stare. Takes the emotion out of the equation.
 
unsafervguy said:
sitting in florida outside for a year, i would bet the cam is toast. plan on a overhaul.
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I think it depends if the oil was changed before sitting. I’ve had my old cam sitting on the floor of my hangar for several years without rusting. But I would borescope the cylinders and check the plane for corrosion.
I would start at salvage price.
 
There are MANY planes in this situation that are sitting there just rotting into the ground and will complete that mission. For someone who can do most or all of the work to make a gem out of it, one of them could be a worthwhile endeavor. For those who have to rely on their checkbook and an A&P, they would be advised to save their money and find a solid, airworthy plane.

My $0.02,
 
k9medic said:
I went to the airport today and took a long hard look at the plane again. It has some significant paint degradation. The interior is horribly heat soaked and the poor Garmin 430 screen looks like somebody took a blow torch to it.

The prop not only has a curl in the tip but is also significantly skewed.

I think I'm going to pass on this for sure.
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So, let's put some numbers together, presuming the airframe isn't totalled.

The Garmin 430 screens are unobtainable for the most part. So it's a writeoff.

Replace the 430 with a 375 that has GPS and transponder / ADSB in/out. $13,000 including labor.
Replace the engine and prop. I don't have a good guess for labor-included. $40k? Can anyone correct this number?
Cheap and limited respray to make it look better than nothing. Can we do this for $3k?
Interior refurbishment to acceptable levels. Can we do this for $5k?
Comprehensive annual fixing a few surprises. I'd slot this at $4k.

So far, with no other surprises, I'm at $65,000.

I bet I'm +/- $10,000 on real numbers.

Offer the seller $5,000 and you've got $70,000 into a cheaply refurb'd, but safe, airplane with a new engine/prop and a Garmin 375.
 
Rgbeard said:
Cheap and limited respray to make it look better than nothing. Can we do this for $3k?
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Can you elaborate on a $3k paint job? My Yankee could use a respray and the numbers I am seeing are closer to $15K.
 
Probably lots of DIY at that price point.
 
Even at $5k you’re taking a lot of risk. And the seller could scrap it out for close to $5k. It needs to be hauled away and put out if it’s misery.

Sounds like the school just pocketed the insurance money. Why they can’t pull the trigger to get rid of it and the ramp fees is a mystery.
 
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Rgbeard said:
So, let's put some numbers together, presuming the airframe isn't totalled.

....
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Based in the Houston area I see numbers a bit different:

Replace the 430 with a 650 to maintain LOC capability (and VOR) $15 including labor.
Install GTX 345 for ADS- out compliance and traffic ~ $5k
Replace the engine and prop. I don't have a good guess for labor-included. $55k
Cheap and limited respray to make it look better than nothing. With recovery of pain, etc. $15k
Interior refurbishment to acceptable levels. Can we do this for $10k
Comprehensive annual fixing a few surprises. I'd slot this at $5k.

This means there is $105k going into this plane.
The highest priced PA28 on TaP is $80k, with all the new things, maybe you have a $100k plane.

Given the cost (based on what I would expect in a major city in the US), I would not even offer $1.
Plus given you are going to be out $100k for about 6month or 8 month until you get to fly the plane....

It is obvious to me why the plane has been sitting the whole time, this is only valuable as a project for someone doing the work themselves and saving labor cost
 
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