Decisions, decisions

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radioguy01

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radioguy01
There's a Cessna 150 for sale locally, apparently could get it for about $14,000. Old avionics, transponder, radio, etc. At least has push to talk. Has apparently been well maintained by our local A&P. I would take a small loan for a portion of the cost and pay it off quickly. Apparently there are two hanger options, one being a shared for around $200/month, and possibly a private for $400/month - but I'd have to verify that.

Obviously the 150 isn't my dream plane. I'm only 10-11 hours into training, probably soloing in next 5-10 hours, so it'd be great to have a plane that costs $40-$45/hr to fly, if that. I could finish training in that, and that alone would save me nearly $80/hr or $2400-$3200 in rental costs (my place rents their $172 for like $112 plus tax). Just that savings is a 1/4 the cost of the 150. On top of that, I'd never have to worry about the plane not being available (again, my club has two planes, one is wrecked now, and my flight availability is very limited due to work, and students are reserving the planes like weeks and weeks in advance, so it's starting to suck.)

Apparently it's not a terribly expensive plane to maintain. It would be nice to keep that plane for putzing around locally for the long haul, possibly selling it if I ended up not flying it after purchasing my "dream plane."

Right now I'm flying about once a week (again due to limited availability of my time matching when the one plane that isn't wrecked is available), but even those four hours would pay the complete note and rental hanger fee if I used a shared hanger for the plane. It seems like a no brainer. Of course the added costs of annuals, if anything breaks, insurance (seems to be around $650/yr?), all add up too, but it would be my plane.

Decisions, decisions.

#firstworldproblems
 
I'm not sure it's ultimately a cost savings, but if you can afford it without a problem, aircraft ownership is fun!
 
You can eliminate one factor,the plane not being available for your training. Very economical airplane for your training. Could be a good idea for you.
 
If you can do it, go for it. The good thing about a 150 is you can always sell them or put them in a rental program when you decide you want more plane.
 
A fellow in my club bought an Archer because the clubs archer wasn't always available for him. It's worked out so far. Just remember the hidden costs and reserves you would need to factor into your cost estimate.
 
You wouldn't have to hanger it.
 
How many hours on engine? currently hangared? has it been hangared for some time? How's the glass, compression, interior? lots of unknowns. Cheaper in the long run to hangar it unless it's a dog. Paint is......nice? Poor? Etc.
 
Jimmy cooper said:
How many hours on engine? currently hangared? has it been hangared for some time? How's the glass, compression, interior? lots of unknowns. Cheaper in the long run to hangar it unless it's a dog. Paint is......nice? Poor? Etc.
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At $14k it's irrelevant, it's priced as run out junk.
 
"...when you decide you want more plane."
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And, depending on your actual needs and finances, you may be happy with the C-150 for a LONG time. Go check out the Cessna 150-152 Club website. There are a lot of people, some VERY experienced, happily flying C-150's even though they can afford a more expensive airplane. "When" could turn into "if" :).
 
Hey guys,

I appreciate the words and advice. Obviously I'm as green as it gets with this so I will be relying heavily on my CFI for help, he's a good guy. But how do you even get the plane? I'm looking at one locally, one three hours away and one two hours away. Do like I drive my CFI there and he flies it home? Or offer some $$ for them to fly it down and arrange their own transport back? And I just pay with a check?
 
No, it's very relevant! 14 grand is a lot of money if the engine goes south 6 months after he buys it. Then he is really upside down , not flying and the airplane isn't worth the price of a rebuilt engine. Not enough info to decide. A lot of these old crates aren't worth bothering with. Above all, don't rush, take your time, it's a buyers market.
 
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Jimmy cooper said:
No, it's very relevant! 14 grand is a lot of money if the engine goes south 6 months after he buys it. Then he is really upside down , not flying and the airplane isn't worth the price of a rebuilt engine. Not enough info to decide. A lot of these old crates aren't worth bothering with. Above all, don't rush, take your time, it's a buyers market.
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A zero time overhaul has a greater risk of blowing up than a 2000hr engine that's been flying regularly.
 
radioguy01 said:
Hey guys,

I appreciate the words and advice. Obviously I'm as green as it gets with this so I will be relying heavily on my CFI for help, he's a good guy. But how do you even get the plane? I'm looking at one locally, one three hours away and one two hours away. Do like I drive my CFI there and he flies it home? Or offer some $$ for them to fly it down and arrange their own transport back? And I just pay with a check?
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Drive your CFI there and fly it back is probably the best option if you find an airplane that close to you.

Before you buy any airplane, ask your CFI for the name of a good local mechanic. Pay the mechanic to visit the airplane, go over the log books, and perform what's called a pre-buy inspection. The inspection should include removing the cowl, compression testing all of the cylinders, and removing all of the inspection plates and checking out the airframe and control systems. This should cost $350-500.
 
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radioguy01 said:
Hey guys,

I appreciate the words and advice. Obviously I'm as green as it gets with this so I will be relying heavily on my CFI for help, he's a good guy. But how do you even get the plane? I'm looking at one locally, one three hours away and one two hours away. Do like I drive my CFI there and he flies it home? Or offer some $$ for them to fly it down and arrange their own transport back? And I just pay with a check?
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All of the above. ;)
 
somorris said:
Go check out the Cessna 150-152 Club website. There are a lot of people, some VERY experienced, happily flying C-150's even though they can afford a more expensive airplane.
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Yes, go to the website. http://www.cessna150-152club.com/

I flew mine all over the US from St. Louis to Key West, First Flight, Death Valley, Oceanside, Devil's Tower, etc. Lots of fun. Sold it after five years at about the same as I paid for it. (Had to go medical-less or I would still have it.)
 
dell30rb said:
Drive your CFI there and fly it back is probably the best option if you find an airplane that close to you.

Before you buy any airplane, ask your CFI for the name of a good local mechanic. Pay the mechanic to visit the airplane, go over the log books, and perform what's called a pre-buy inspection. The inspection should include removing the cowl, compression testing all of the cylinders, and removing all of the inspection plates and checking out the airframe and control systems. This should cost $350-500.

For $14k you should be getting a plane that is in good mechanical shape, mid-high time engine and no airframe issues or corrosion.
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110% :yes:

Don't rely on a CFI for your prebuy. :no:
 
radioguy01 said:
Hey guys,

I appreciate the words and advice. Obviously I'm as green as it gets with this so I will be relying heavily on my CFI for help, he's a good guy. But how do you even get the plane? I'm looking at one locally, one three hours away and one two hours away. Do like I drive my CFI there and he flies it home? Or offer some $$ for them to fly it down and arrange their own transport back? And I just pay with a check?
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The owner flew the plane to me and I paid for him to commercial back to his home field.
 
tinerj said:
I flew mine all over the US from St. Louis to Key West, First Flight, Death Valley, Oceanside, Devil's Tower, etc. Lots of fun. Sold it after five years at about the same as I paid for it. (Had to go medical-less or I would still have it.)
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I got my instrument rating in one, flew it all over. Most recently I ferried a 150 from TX to NC for a new owner who just got his PPL. They are nice little planes, easy and inexpensive to fly.
 
Jimmy cooper said:
No, it's very relevant! 14 grand is a lot of money if the engine goes south 6 months after he buys it. Then he is really upside down , not flying and the airplane isn't worth the price of a rebuilt engine.
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Same for most of us flying 30+ yr old aircraft. So?
 
Bill Jennings said:
Same for most of us flying 30+ yr old aircraft. So?
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So? What do you mean ......SO? Did anyone go over your purchase carefully before you paid up? compression check! bores cope? Etc. they sure did on the ones I bought. I am simply telling this gentleman to be careful of this 14 thousand dollar " miracle". It could easily rise and smite him without careful home work. As I said before, many of these old crates are not worth bothering with. These models were usually used for training and took a lot of punishment.
 
Jimmy cooper said:
Did anyone go over your purchase carefully before you paid up? compression check! bores cope?
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Oh absolutely, but I also knew the engine could blow on the 1st flight after the check cleared. And I also know economically it wouldn't make a bit of sense to re-engine an old aircraft when the engine is done, but we do it to keep flying.
 
Geico266 said:
Depends on how bad the guy wants to sell.
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I agree I am always checking online to see what is for sale. Not that I have money to buy anything right now. :sad: It is an interesting study to watch the for sale boards over time. You will see the same what I consider high priced plane come on run a few weeks then go away and come back a month or so later. I think there are a lot of people who's planes are always for sale "for the right price" and this is way higher than market.

I have to believe in general there is a good bit of room to move on most of the stuff listed online. I am guessing most of the sellers phones are not ringing off the hook right now.
 
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