brien23
Cleared for Takeoff
Just how much higher can the price of a used Cessna 172 go.
Cessna 172 used price
- Thread starter brien23
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Stan Cooper
Pattern Altitude
I think the introduction of BasicMed created additional demand for used 172s (and 182s) and caused the current price bump; it's simply a case of limited supply and higher demand.
After the sport pilot rule was finalized in 2004, a lot of older pilots decided not to renew their medical certificates for fear their applications would be denied and began flying LSAs using their valid state driver license in lieu of a medical exercising the privileges of a sport pilot. When BasicMed finally became available in May, 2017, they started buying 172s, 182s, and PA-28s.
After the sport pilot rule was finalized in 2004, a lot of older pilots decided not to renew their medical certificates for fear their applications would be denied and began flying LSAs using their valid state driver license in lieu of a medical exercising the privileges of a sport pilot. When BasicMed finally became available in May, 2017, they started buying 172s, 182s, and PA-28s.
Sinistar
En-Route
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Brad
I know of a couple of younger guys in our area that recently bought older not-modernized 172's just to time build for the airlines. Just big enough to fly the family around and do some 300nm trips as part of the time building. So the prices are taking it from both ends but perhaps more from the basicmed than to fill the pilot shortage.
iflyvfr
Pattern Altitude
I have to think low unemployment and a 10 + year bull market have contributed to the run up as well. People have jobs, inflation is negligible - rising tide floats all ships...
denverpilot
Tied Down
Wage growth needs to come up but yeah. Not awful. If you’re not getting a 3% raise every year, the Fed is slowly nibbling your butt away, without you noticing it.
Or you have special circumstances where you’re allowing your butt to be nibbled in return for something from the boss. LOL. Did I type that? The way that sounds is not what I meant... hahaha.
AA5Bman
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He who ironically no longer flies an AA5B
This is the answer. More people have more money to spend plus the supply of used aircraft shrinks everyday. Don’t even have to consider things like the pilot shortage or BasicMed. It’s not really that complicated.
Pilawt
Final Approach
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Pilawt
A lot of 172M/N/Ps are being scooped up by folks who upgrade the avionics, interior and paint, and ship them overseas for trainers at a tidy profit.
Merrill Lynch guy told me the middle class IS shrinking, but from both ends - lot of folks moving up, not just down. I got a shock when our decently equipped 172M got valued at $85K. G-530, AP, EIS, a few other goodies, but dayum, THAT much for an older 172? Something read the other day about 401K millionaire count greatly expanding. Diddled about with my own net worth estimate and was pleasantly surprised. Sneaks up on ya.