For Sale: Aircraft Flying club question.

[Fatherof2]

I just joined a flying club.

Cherokee 180

600 buy in.

50 per month dues.

110 per hour wet, Hobbs time.

Plane is almost always available.

Good deal?

 

[Anymouse]

If it's what you want to fly, convenient and fits your budget, it's a good deal.

 

[avongil]

Considering the cheap buy in, I would say it is pretty good.

 

[mscard88]

Not bad. One here with 2 Archers is a $1000 buy in, $85 monthly dues, $100/hr tach.

 

[AggieMike88]

On the surface, looks reasonable. But some questions to introduce additional details into evidence...

How many members? What is the availability (in general)?

What is the policy for trips where you fly for a few hours, park it for several days, and then return home? Is there a minimum hours per day?

Is there enough of a cash reserve so that if the engine must be replaced, the cost comes out of reserves versus asking the members to write a check for their part?

What does the $50 per month dues cover? Hangar for sure, but does it provide insurance for your liability? How about databases for the GPS?

What is the policy for reimbursing away from home fuel purchases? Full rate no matter where your purchase? Or a particular rate and you owe any amount over that?

 

[airdale]

... Is there enough of a cash reserve so that if the engine must be replaced, the cost comes out of reserves versus asking the members to write a check for their part? ...

This is the big one. More generally,what is your risk of getting hit with a member assessment and how much? Assessments can come because an engine needs to be replaced, sometimes well before TBO. Also for unexpected maintenance items. For example, replacing a cracked main gear casting is several thousand $$ and not uncommon on higher time Pipers, especially ones that have been used as trainers.

It's a little too late now, but I would want to know what the assessment history of the club has been, I would want to see the balance sheet to look for reserves, and I would study the bylaws to see if a member can just walk rather than paying an assessment or whether you have no option but to pay. There is one club in our area that is notorious for regular end-of-year assessments to balance the books. Another has not had an assessment for 10-15 years.

 

[AggieMike88]

Assessments can come because an engine needs to be replaced, sometimes well before TBO

Yup yup... That happened to our group a few years ago (right as @JCranford joined). The oil pump shredded itself sending metal through out the system. Fortunately discovered while on the ground. Net result was that the motor was dismounted and sent off to rebuilder. Final bill was well north of $12,000, maybe closer to $15,000. Club had the reserves and wrote the check. No assessment needed.

Our treasurer is happiest when the reserve balance is enough to cover any major problems including death of an engine.

 

[FlySince9]

Mine? $800 buy-in 110/wet (TACH...better) Skyhawk...never had to put off a flight because plane unavailable...

Other than the hobbs vs Tach... you have a pretty good deal, I think...

 

[robert lomax]

my drome offers,,, 500 year,,, gets you 30 off, so cherokee is 110, and 10, off so instructor is 42...
16 hrs flying and 2 hrs training has saved you 500!
mores hrs of either is free savings...

 

[Fatherof2]

Thanks for all the input guys.

I should have mentioned that the plane has about 200 hours SMOH. She aint pretty on the inside or the outside, but the engine is basically new.

There are 3 other members that fly the plane.

Wish it was tach time, all in all it seems like a good deal based on what folks have said in this thread.

 

[Bonchie]

With a $600 buy in, there's no real risk.

If the engine croaks, there's nothing to says you have to stay in the club and shell out a ton to keep it flying.