I came across a 1971 150 today for $8,000. It's at 12,000 TT and 2400 SMOH compression is good, and it runs/flys great. The guy who has it bought it for 3 of his employees to get their ppl and they are done with it. Paint is good and interior is a 5/10. I'd be using it to finish my PPL it's in annual. They do have logs since day one. No damage history. Is this worth looking into or should I run! Thanks.
High time 150 questions.
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poadeleted21
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I'd probably run, very nice examples of a 150s can be had for less than the purchase price + what this wold need for me to fly it.. 2400hrs, it needs a new engine.
I had that feeling, however I was unsure of what an overhaul might cost. In my research I've seen a wide range of prices people are claiming their overhaul cost them. The guy is asking 8... I thought if I could pick it up 7500 range I might could get my ppl finished up in it and have a project to play with. On the other hand I'm 6'2" and 200#. I'm not sure what I'd do with a 150 after my solo time is over.
Jim Logajan
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Tom-D
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How can you tell it needs a new engine?
2400 that's a big number for a 0-200.
How can you tell it needs a new engine?
According to the owner (he deals in crop dusters ect) it runs strong and doesn't need an overhaul yet. Welcomed me to bring a mechanic to give it a look.
poadeleted21
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How can you tell it needs a new engine?
It's got 2400 hrs that I didn't put on it, maintained by a mechanic that I don't know. It needs a new (MOH if we're splitting hairs) engine. Fly it if you want, I won't be. Flying it at this point is only going to run up the cost of the overhaul. That engine doesn't owe anybody anything. Also, it may have the most solid airframe of any 150 out there today but with 12,000 hours, that's going to chase off a lare majority of buyers especially since cherry 150's can be had for 18-20K and good ones at 15K. P&I being a 5, he's not just buying a pretty plane that's been well used, it's ugly too. If OP wants an ugly, not run out but flyable "classic" 150, I know where one sits for 11K. I wish someone would buy it, it needs to be flown, it will turn heads though...and not for the reasons you want.
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Jim Logajan
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Shouldn't it have exploded at 2001 hours then?
How can anyone here tell it needs a new engine?
You think it wont last another 80 to 160 hours?
Let me put it this way: if he managed to use the plane for another 160 hours and had to scrap it, his amortized asset cost is $50/hr. Not great but not bad either. If he sells it for a mere $4000 after he is done he is looking even better financially compared to renting dry.
poadeleted21
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I wouldn't fly it. if it was my plane that I had been babying for the past 10 years and put the last 1200 or so hours on, maybe, a plane that's obviously done it's time on the training line, 20% past it's life expectancy..
Even if I had a mid time O-200 to hang on it, the airframe has 12,000 on it... I could find something better for 8K to put the O-200 on.
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Fly it till it turns to a glider then toss another used engine on. You may not do that before you get rid of it anyway.
MSPAviator
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I trained on a 152 with >20,000 hours and an engine that had about 4000hrs. on it. The plane was flown every day and the engine ran perfectly.
alfadog
Final Approach
Minor point but OP says paint is good so not ugly. $1000 will buy a lot of interior work on that airplane if the seats bother you (new seat covers, carpet, and plastic bits), especially if you do some work yourself.
steingar
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Doesn't sound so bad to me, but I wouldn't buy an airplane I wasn't willing to keep. That said, if the engine blows up tomorrow you're only out your purchase price, which is some number less than or equal to 8 AMU's. There are folks here that spend that for annuals.
Upon further inspection, Paint is actually pretty decent. I'd say a 6.5/10 and the interior is 3.5/10 its totally flyable no corrosion. Runs smooth fires right up. Everything on the dash works well. BUT, It would require an interior before my wife would fly in it LOL. Some have said I could get a nice one for 20, but if I were spending 20 I wouldn't be buying a 150. This would be more of a "toy" for me. I would hope theres another 35-50 hours in the engine to finish my PPL. The airframe having 12,000 hours is the main part I was worried about. I cant just overhaul it. I guess if I pick it up and it doesn't turn out I can haul it to the range and use it in 3 gun match's.
Steve Foley
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I'd toss it when it started making metal, and not wait for the prop to stop.
I bought a plane with a high time engine (2600 hours on an O-320), hoping to squeeze a year or two out of it. It turned out that the oil pump AD hadn't been done, and should have been before it hit 2000 hours. I couldn't justify spending that much on a repair on and engine already living on borrowed time.
I suppose hanging another used engine on it may be an alternative. I spent more on the overhaul than I did on the purchase.
I suppose draining the oil and cutting the filter would be a good Idea. Is there a store to buy things like carpet and seat covers.... online?
alfadog
Final Approach
Challenged
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http://www.planeplastics.com/airplanes/cessna/150-152/
http://www.airtexinteriors.com/catalogue/carpets.php
AD beat me to it
After I had purchased a 152 to finish my PPL, I replaced the carpet in it myself; looked great and was super easy.
http://www.airtexinteriors.com/catalogue/carpets.php
AD beat me to it
After I had purchased a 152 to finish my PPL, I replaced the carpet in it myself; looked great and was super easy.
steingar
Taxi to Parking
I wouldn't be surprised if one could purchase such an aircraft, fly it for awhile, and then realize a profit parting it out.
alfadog
Final Approach
http://www.ebay.com/itm/Cessna-150-152-Slip-Seat-Covers-multi-color/270727085158
Seat covers around $200.
Google for cheapest prices.
Like I said, you can do a lot for $1000.
bflynn
Final Approach
As is, it's a $3500 airplane in the resale market.
A new engine will run 20k. The current one is 600 hours past the 1800 hour TBO.
Your call. You said you can't imagine what you'd do with it after training...so you'd have to look at selling it. But to who?
Better to buy a plane that you think you're going to fly.
alfadog
Final Approach
Really? The resale markets I just looked at don't have anything under $14k. And some of those are run-out engines too.
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poadeleted21
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Reality. Unless you're in the salvage parts business. For 2 years I've been staring a perfectly good plane mid time engine, crap paint, old panel and interior. but very airworthy and well maintained. it's been for sale for 2 years at $11,000 only a couple of nibbles. I'd fly the one I see, not the one OP has posted and no, I don't need to see it to make that decision.
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alfadog
Final Approach
If you are using AOPA VRef, might as well check "needs interior".
1971 - CESSNA 150 A-M
$634.15 (as configured)
Trade-in value will be considerably less
$634.15 (as configured)
Trade-in value will be considerably less
That is obviously bogus. I imagine, based on what I see selling on eBay, from Wentworth and WOH, that if he knocked a bit off the asking, fixed up the interior for $1k, and blew the engine tomorrow, he would prolly take a $2k - $3k loss on resale.
Obviously this is a gamble. A gamble that you will get some hours out of it before the engine goes south; a gamble that if and when it goes south it will not leave you in the lurch.
I think if you stay on top of the oil analysis, you might get the warning you need to stay out of the lurch.
It is a gamble. Some folks are gamblers and some are not. The upside is he gets an airplane he can afford. Might be his only option for that. The downside is maybe not for long.
Tom-D
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150s are holding their value very well, because they are cheap to fly.
The engine below has 4 new ECI cylinders flow balanced, new cam, 8 new lifters, 8 new hydraulic units, .010" under crank, all steel parts magnafluxed, cases relapped, and line bored, new baffling, new alternator, and new alternator drive, and a new starter.
wasn't any where close to 20k
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I still say buy your last plane first, especially if the plane you're contemplating buying is cheap and easy to rent. The reason one would buy this 150 is because they have a good leaseback deal to put it on. This is the kind of plane that makes money, you also don't insure it, with no primary policy on the plane the renters policy becomes primary.
Tom-D
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Talk to your insurance company, many will not insure any aircraft with over TBO engines. (even renters.)
dell30rb
Final Approach
Got any more info? What's in the panel?
I have never seen that clause, I know nobody who has not been able to get insured over a TBO issue.
poadeleted21
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Paint is on there, but shot and faded, blue on white. Interior is very faded but not torn up. it's a 1958 or 1959. Owner was flying it back and forth from MT to Alaska every summer but upgraded to a 172RG. It has a nav/comm and the gyros appear to be the 1950-1960's vintage. I can snap some photos and get more details on it if you want.
Jaybird180
Final Approach
Do the rules for Mx trigger if he put it on a leaseback (100hr requirement)?
If the owner self-insured the hull, would simple disclosure cover any owner liability?
If the owner self-insured the hull, would simple disclosure cover any owner liability?
Skylane81E
Final Approach
Here is why I'm not buying,
A 150 can be had with a low time engine for MUCH less than the price delta to do any major work on that plane.
I'd buy one for a little less than twice the price with a low time engine. Fly the engine out of it and then sell it for that 8grand. Call the loss on the plane the cost of operating and move on. Financially I couldn't justify doing an engine on a 150.
A 150 can be had with a low time engine for MUCH less than the price delta to do any major work on that plane.
I'd buy one for a little less than twice the price with a low time engine. Fly the engine out of it and then sell it for that 8grand. Call the loss on the plane the cost of operating and move on. Financially I couldn't justify doing an engine on a 150.
pilot_dude
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I'd love to see you quantify that statement. I'll sit back and wait.
poadeleted21
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Vref has it at $650ish, I wouldn't buy it for that.
bflynn
Final Approach
AOPA Vref.
Obviously others have consulted the same source. I'm a little confused since I'm getting a slightly different number now, but here's the numbers I'm getting:
Base price for the airplane - $19,900 - for that, you should have an engine at 900 hours and 6150 hours TT with average paint, interior and nothing outstanding on the panel.
High hours affect the price negatively at $0.43/hour - total effect -$2,523.90
Engine affects the price negatively at $11.00/hour - total effect - $9,900 (note, this is half the price of a new engine).
Bad interior affects the price negatively - total - $3000.
Net result is $4476 valuation. I'm not sure why I got $3500 before and $4500 now, but I'm sure there's some reason. The main point is, it isn't a $10,000 airplane.
And you didn't even have to wait long...
Don't confuse asking price with what you actually sell it for. The reality of this airplane is that it's going to need a new engine and significant interior work. If you do that, you'd have about a $30,000 airplane because you're putting about $25,000 of work into it.
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poadeleted21
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My Vref has base price as $15,500 and input the engine and airframe hours, then check "needs interior" and you get a whopping $634.15
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Dan Thomas
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Dan Thomas
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The 152 has a Lyc O-235, and entirely different engine than the 150's Continental O-200. The O-200 has an 1800-hr TBO and like all small Continentals, often needs valve work every 800 hours or so, depending on operation. The Lycs I looked after, including the O-235, had no valve troubles at all. The O-235 does have a reputation of being harder to start, and runs very cool, resulting in condensation in the case that often causes internal corrosion in airplanes that don't fly much.
Dan