Is it smart to buy a plane right now?

[FormerHangie]

I think I might have been misunderstood or misspoke. I'm not necessarily concerned about losing money, I'm prepared for that as it is aviation we're talking about here after all. With the regulatory changes, rapid innovation in cockpit technology, and electric/alternative power plants coming, I think the period coming up will be unlike anything we've seen in 40+ years. Or not, who knows. It seems like the general consensus is you can't just keep waiting because something new might come along, if that's your attitude you'll never make a move and you'll die a sad old man wishing you'd made better decisions. I suppose my real issue is I'm stuck trying to find the perfect plane for my mission and I figure if I just keep waiting, that perfect plane might come along, or I'm afraid it will right after I finally make a move. Alright, that's enough, thanks for letting me vent.

If you're worried that technical innovation is going to make the plane you buy not obsolete, don't. Innovation comes very slowly to the aviation world. If you go out on FlightAware right now and search what is flying by type, you'll see 126 747-400s and 118 757-200s in the air, and they're all in the 25+ year old range. Innovation comes more quickly to airliners than it does to GA airplanes, yet these older airplanes haul millions of passengers. Hell, there's a Beech 18 showing up, on a cargo run from Fort Lauderdale to the Bahamas, and that airplane is older than most of us! If the airplane you're going to buy doesn't have ADS-B, you'll probably want to allow for that, but if you buy a good airworthy older airplane, if you decide you don't want it or can't afford it any longer, you'll be able to sell it for most of what you paid for it.

 

[3 in the green]

Much of your answer lies in your life outside of aviation. Do you have a family that depends on you? If so, do you have the money to be an aircraft owner without depriving your family of their needs and without going in debt?

If you have the necessary extra funds, then Define your mission, select your plane, find a nice example, be smart about the purchase and buy it.

This is very true. I would be flying something much different if I didn't have a family to support.

 

[Morgan3820]

Although...the unleaded avgas issue has yet to be resolved. If the replacement is $7+/gal then not buying might b a really good idea. But I'm sure that won't happen.

 

[FormerHangie]

Although...the unleaded avgas issue has yet to be resolved. If the rOeplacement is $7+/gal then not buying might b a really good idea. But I'm sure that won't happen.

If you can find an airplane that is eligible for a mogas STC that issue is moot. Otherwise, while I expect the unleaded fuel to be somewhat more expensive, it shouldn't be that much.

 

[Hank S]

Is it EVER "smart" to buy an airplane? I bought mine not long before the price crash . . . .

 

[N747JB]

I'm a firm believer in enjoying life while you can, as long as you can afford it! Everyday I read about people my age, 52, and younger that die of heart attacks, cancer, accidents etc. We are not promised tomorrow, travel while you're young enough to enjoy it, fly while you can!

 

[NoHeat]

Although...the unleaded avgas issue has yet to be resolved. If the replacement is $7+/gal then not buying might b a really good idea. But I'm sure that won't happen.

Among all regulatory developments, 100LL replacement could be the biggest. For sure it is the most uncertain.

Nobody will say how much it will cost. And they won't say what ingredients are in the competing formulations. Or when it will happen. Or how it will change our performance, range, and weight.

 

[Morgan3820]

Is it EVER "smart" to buy an airplane? I bought mine not long before the price crash . . . .

So long as you never sell it, you won't be loosing any money.
That is why I have bought the last house, the last boat and soon the last airplane. I got tired of buying things, fixing It up and then loosing my a$$ on the sale.

 

[JOhnH]

What do you mean by this? My wife is the coolest woman in the world. She don't care what I buy. We have seperate bank accounts. She works and buys anything she wants and I do the same.
I'm not pu**y whipped like most of you

I'll believe that when I hear you say that in front of her.

 

[paflyer]

What do you mean by this? My wife is the coolest woman in the world. She don't care what I buy. We have seperate bank accounts. She works and buys anything she wants and I do the same.
I'm not pu**y whipped like most of you

Your wife is really cool for letting you think that is the case.

 

[paflyer]

With the sweeping regulatory changes this past year (Part 23 rewrite, BasicMed, who knows what's coming from Trump), is it smart to purchase an aircraft right now? Or should one wait and see how this all shakes out? On the one hand, the part 23 changes could result in cheaper, lower cost, and better designs - possibly driving overall prices down in both the new and used markets. But BasicMed could result in an influx of new and older pilots therefore driving demand up. They always say "time in the market beats timing the market" when it comes to finance at least. Perhaps that's applicable to the aviation market too. But in this case, these once in a generation or two changes give me pause as to whether I should be buying right now in the new OR used aircraft market.

I want a plane now but part of me wants to wait and see what comes of all this.

What do you think will change in the space of a couple years? How long do you think it takes to bring a new aircraft design to production? You're overthinking this IMO. It's not the stock market.

 

[pilotmichael]

Hey thanks for all the good thoughts here. I'm hearing "YOLO", things aren't going to change that fast so don't worry about it, make sure your family has bought in and won't starve, all good stuff. Someone asked about plane selection / mission. I might start another thread on that as I'm really struggling with that one. Here is a teaser: IFR training, local flying, occasional 200NM work / pleasure trips, low wing, comfortable, modernish, wife wants a BRS (flame away) but it's not a deal breaker. I have lots of 152,172, DA40 time and some Cirrus hours. Leaning Cirrus but a lot of issues/costs there with the early ones that are in budget. DA40 has it's own issues. Looking at Bo's a bit too. I really want to jump into ownership now but feel if I wait my options will only get better. Or not.

 

[Caramon13]

Hey thanks for all the good thoughts here. I'm hearing "YOLO", things aren't going to change that fast so don't worry about it, make sure your family has bought in and won't starve, all good stuff. Someone asked about plane selection / mission. I might start another thread on that as I'm really struggling with that one. Here is a teaser: IFR training, local flying, occasional 200NM work / pleasure trips, low wing, comfortable, modernish, wife wants a BRS (flame away) but it's not a deal breaker. I have lots of 152,172, DA40 time and some Cirrus hours. Leaning Cirrus but a lot of issues/costs there with the early ones that are in budget. DA40 has it's own issues. Looking at Bo's a bit too. I really want to jump into ownership now but feel if I wait my options will only get better. Or not.

Why does your wife want a BRS? Does she know that most planes out there don't have one and do fine?

Wanting and needing are two different things. You don't NEED a BRS. And, if you get one, expect to pay a lot more for the plane and a significant chunk to inspect and repack it.

I have to laugh when people add that as a requirement. It's a feature, planes can land without one.

 

[pilotmichael]

Well how do you land otherwise? I thought you pull the chute on final? Or is it on downwind, I forget.

"Wants" does not equal "need" or a "requirement". It's not a deal breaker and I'm free to get a plane without one. I'm well aware of the added costs. It's funny how touchy people are about the chute.

 

[citizen5000]

wife wants a BRS (flame away) but it's not a deal breaker..some Cirrus hours. Leaning Cirrus...

There are many planes with a BRS option now. Most are light sport. Cirrus makes three models the lowest cost is the SR20. The SR20 has the same airframe as the high end models and includes the BRS. If you want your wife and friends to come with you then get a used SR20. Or look into a two-seat light sport with a BRS.

 

[Checkout_my_Six]

the economy badly needs your money.....please buy a brand spank'n new chute puller.

 

[Caramon13]

"Wants" does not equal "need" or a "requirement"..

Wanting and needing are two different things.

I know they are two different things, I said as much.

IFR training, local flying, occasional 200NM work / pleasure trips, low wing, comfortable, modernish

Your teaser contains about 4 different missions in it. Local flying you can get a slow mover that's spacious and fun, 200 NM for work you want something to get you there faster, even though 200 NM ain't that far. Pleasure trips? Need luggage capacity? More than 2 people?

Why low wing, or modernish? There are plenty of 1960-ish planes that would do all these things fine, I know, I owned one. Sounds like your wife has already made up her mind about the plane you should get, so why ask around? Just go buy a Diamond or Cirrus and be done with it

 

[pilotmichael]

Your teaser contains about 4 different missions in it - Why low wing, or modernish? There are plenty of 1960-ish planes that would do all these things fine -

Yep - that's my problem. And why I haven't been able to pull the trigger. This is probably a different thread but yeah, I'm looking for something that will cover those mission parameters as adequately as possible. I'm not necessarily against a well maintained and updated 1960's plane at all. I just like low wings much better to answer that question.

 

[Caramon13]

Yep - that's my problem. And why I haven't been able to pull the trigger. This is probably a different thread but yeah, I'm looking for something that will cover those mission parameters as adequately as possible. I'm not necessarily against a well maintained and updated 1960's plane at all. I just like low wings much better to answer that question.

Gotcha, I too prefer low wings. But, that's because it gives me more visibility. For PAX, I found high wings are more fun..better visibility of shiny things on the ground, shade against the sun, camping under the wing, protection against rain, etc...plenty of utility.

When I rent a plane for me, I fly low wings, when I go up with someone else I fly a high wing.

I tried to partner with some guy a while back who absolutely refused to buy a plane made before 2000. <shrug> We all have our parameters.

Whatever you buy, realize that it won't be everything to everyone. Think about who's going to be in that plane for 90% of its life. If that's you, then who cares what everyone else wants? Get something that will fit YOUR mission as YOU are going to be the one in the plane the most.

If you need something to fill the other 10% just rent something for those occasions. Need a pleasure cruiser? Rent a 182 for a weekend, cheaper than buying one and using 1/4 of it.

 

[pilotmichael]

Whatever you buy, realize that it won't be everything to everyone. Think about who's going to be in that plane for 90% of its life. If that's you, then who cares what everyone else wants? Get something that will fit YOUR mission as YOU are going to be the one in the plane the most.

This is great advice and kind of backs up the way I feel about it as well. Thanks!

 

[asicer]

Yep - that's my problem. And why I haven't been able to pull the trigger

The red BRS handle is a form of trigger. So if you have a problem pulling then maybe a Cirrus isn't for you.

 

[FormerHangie]

Yep - that's my problem. And why I haven't been able to pull the trigger. This is probably a different thread but yeah, I'm looking for something that will cover those mission parameters as adequately as possible. I'm not necessarily against a well maintained and updated 1960's plane at all. I just like low wings much better to answer that question.

If you aren't sure what you want, then it's not smart to buy something right now. Hold off until you've settled on something.

One of the problems with buying an aircraft is that there aren't always many opportunities to try before you buy.

 

[Frogs97]

My opinion is buying a plane is the smartest thing you can put money in. Maybe I just buy the right airplanes but to me it is a fun savings account that gains value each year. You have to buy something kind of unique though. A boring old 172 just like 1,000,000 others isn't going to make you money when you want to sell it.

Interesting. What kinds of planes were these?

 

[N747JB]

If you aren't sure what you want, then it's not smart to buy something right now. Hold off until you've settled on something.

One of the problems with buying an aircraft is that there aren't always many opportunities to try before you buy.

And the cost to change your mind is pretty steep! Selling, likely at a loss, then the whole buying process all over again!

 

[pigpenracing]

Interesting. What kinds of planes were these?

Planes I have bought and made lots of money on... Several of them were not for sale and I had people walk up offering to buy.
540 powered Skybolt
540 powered Christen Eagle
highly modified 4 cylinder Christen eagle
Staudacher S-300D Unlimited aerobatic plane
1940 J-3 Cub
I buy planes I like and want to keep. Someone always comes along with a offer that makes me let them go. I have a guy wanting my Pitts Model 12 now. I really love the plane and don't want to sell it. If he comes up with the firm price I told him she will be going to a new home. It is non negotiable. Take it or leave it It will be worth more in 20 years.