OK, my partner and I have had a very successful relationship with a modified and updated C172M for coming up on 5 years.
When we initiated our agreement we tried to cover everything we could think of, but our partnership paperwork is silent with respect to updates/modifications. My partner is really wanting to replace our current GPS with a Garmin GTN 650.
This push started a couple of years ago when the WAAS thing started to materialize, and I've kind of put off the subject hoping Bendix/King would introduce a WAAS capable upgrade for our KLN94 but that never materialized.
One of the things that makes our partnership work is that my partner flies for business a several times a month, and his trip lengths make the 172 still workable in spite of its slowness. I fly after work and on weekends, so we've had only a couple of minor, but fixable schedule conflicts.
I fly strictly VFR and have no interest in getting an instrument rating. Go ahead and attack - I've had plenty of that from the local pilot population.
The real issue is the cost of the new Garmin. We don't have a firm quote from the radio shop, but we're guessing it will be $11k or so after install and trading off the KLN 94 and the comm radio that we'll no longer need.
I don't really feel like paying half of the new Garmin since I'll never use all of it's capability. But we have had a good arrangement with scheduling, and we have similar philosophies as far as maintenance, aircraft cleanliness, refueling, etc.
I am thinking that paying at least one or maybe two reputable appraisers to give us an estimate of how much more the AC would be worth with the new Garmin and offering to pay half the presumed sale value would be reasonable. Problem is, I have no idea where a fair-minded appraiser is. Yeah, AOPA and Trade-a Plane have With the declining market, I'm not sure even appraisers could tell me what I want to know...
The 172 is costing us about $82-$85 per hour to operate all-in with reserves, and I really don't want to go back to renting beater 172s with Reeses Pieces ground into the seat cushions or finding Mountain Dew bottles half full of chew spit or finding out they are down for a 100 hr. inspection in spite of scheduling 2 weeks ago.
What say you? This has been a really ideal arrangement up to now.
If push comes to shove, he can sell his share, which is covered in our agreement, or I can sell my share, which is likewise covered in our agreement. Or we can both punt and dissolve our partnership for what we can get out of it and both take a hit.
When we initiated our agreement we tried to cover everything we could think of, but our partnership paperwork is silent with respect to updates/modifications. My partner is really wanting to replace our current GPS with a Garmin GTN 650.
This push started a couple of years ago when the WAAS thing started to materialize, and I've kind of put off the subject hoping Bendix/King would introduce a WAAS capable upgrade for our KLN94 but that never materialized.
One of the things that makes our partnership work is that my partner flies for business a several times a month, and his trip lengths make the 172 still workable in spite of its slowness. I fly after work and on weekends, so we've had only a couple of minor, but fixable schedule conflicts.
I fly strictly VFR and have no interest in getting an instrument rating. Go ahead and attack - I've had plenty of that from the local pilot population.
The real issue is the cost of the new Garmin. We don't have a firm quote from the radio shop, but we're guessing it will be $11k or so after install and trading off the KLN 94 and the comm radio that we'll no longer need.
I don't really feel like paying half of the new Garmin since I'll never use all of it's capability. But we have had a good arrangement with scheduling, and we have similar philosophies as far as maintenance, aircraft cleanliness, refueling, etc.
I am thinking that paying at least one or maybe two reputable appraisers to give us an estimate of how much more the AC would be worth with the new Garmin and offering to pay half the presumed sale value would be reasonable. Problem is, I have no idea where a fair-minded appraiser is. Yeah, AOPA and Trade-a Plane have With the declining market, I'm not sure even appraisers could tell me what I want to know...
The 172 is costing us about $82-$85 per hour to operate all-in with reserves, and I really don't want to go back to renting beater 172s with Reeses Pieces ground into the seat cushions or finding Mountain Dew bottles half full of chew spit or finding out they are down for a 100 hr. inspection in spite of scheduling 2 weeks ago.
What say you? This has been a really ideal arrangement up to now.
If push comes to shove, he can sell his share, which is covered in our agreement, or I can sell my share, which is likewise covered in our agreement. Or we can both punt and dissolve our partnership for what we can get out of it and both take a hit.