Mooney M20J

[Ed Guthrie]

From what he described, the plane is a total constructive loss. It would cost far more to put to right than it's worth. The best thing is to tear it down and part it out.

Contrary to what was stated a few posts back, the Mooney spar isn't built up to be one piece wing tip to wing tip, rather the Mooney spar is one continuous milled piece of aluminum wing tip to wing tip. In line with what Henning wrote, when my Mooney had a gear collapse the insurance adjuster's first bit of caution: "I just want you prepared for the possibility: If the wing spar is damaged in any way the aircraft is a total loss. It is not economically viable to replace the wing on a $100k Mooney."

 

[flyersfan31]

Constructive total loss? That's how the whole thing started! So, it sounds like the guys who bought the airplane dumped a ton of money into a constructive total loss airplane and transformed it into, ta-da, a constructive total loss airplane. I'll bet that A&P never shows his face around those guys again....

 

[Aztec Driver]

Constructive total loss? That's how the whole thing started! So, it sounds like the guys who bought the airplane dumped a ton of money into a constructive total loss airplane and transformed it into, ta-da, a constructive total loss airplane. I'll bet that A&P never shows his face around those guys again....

That is a great line. Depressing, but humurous.

I got a little more information from the current owner today. I really feel for the guy. He and his partner are just pilots who were very active at the place where the A&P was located. There was not much business to be had at that location, so he was looking for more customers, to go along with his loyal following. I believe it started out as them discussing refurbishing and reselling airplanes to give him some business and maybe make a little money as well. They found this Mooney that had been wrecked and bid on it. The mechanic told them it could be repaired and sold for a decent amount. Well, so far, he says that he and his partner have spent, including two engine rebuilds and buyout of the A&P's share, $152,000 on this aircraft. Now he is looking at seeing if it can be repaired up to proper specifications at all, or if it would be better to part it out. He asked; "if it is repaired properly, would we still be interested in it?" According to Dennis at Dutchland, if it was repaired PROPERLY (and that is a big if), the value would be restored to a "damage history" plane but would be a good plane. If it could be proven to have no defects, would it be worth it?

What could he get for parting it out?

 

[gismo]

This is really depressing.

I know you were hoping this would be a keeper, but don't be depressed, be happy you found out about the poor condition before it became your problem.

 

[Henning]

That is a great line. Depressing, but humurous.

I got a little more information from the current owner today. I really feel for the guy. He and his partner are just pilots who were very active at the place where the A&P was located. There was not much business to be had at that location, so he was looking for more customers, to go along with his loyal following. I believe it started out as them discussing refurbishing and reselling airplanes to give him some business and maybe make a little money as well. They found this Mooney that had been wrecked and bid on it. The mechanic told them it could be repaired and sold for a decent amount. Well, so far, he says that he and his partner have spent, including two engine rebuilds and buyout of the A&P's share, $152,000 on this aircraft. Now he is looking at seeing if it can be repaired up to proper specifications at all, or if it would be better to part it out. He asked; "if it is repaired properly, would we still be interested in it?" According to Dennis at Dutchland, if it was repaired PROPERLY (and that is a big if), the value would be restored to a "damage history" plane but would be a good plane. If it could be proven to have no defects, would it be worth it?

What could he get for parting it out?

He'd get more parting it out. He can't put it back to right at a reasonable cost unless he finds a good wing on an otherwise condemned aircraft, which, sad to say, is very unlikely. How much for parting it out is highly dependent on the panel. If it has a good stack and an HSI, a fresh engine and prop & FWF, all the tail is good, the accessory bits in the wing and control surfaces are good, good wing skins and bits, cowling, leather interior... they actually stand a chance of making a slight profit IF they sell it part by part to someone who needs the parts. That means they have to dissassemble and store the parts and advertise them.

 

[SCCutler]

Lordy. This is the ultimate nightmare scenario, where at every turn, they are just *this* close to being done...

... a bent Mooney spar is, from all I have heard (and I see nothing here to change it) no longer a Mooney spar at all, but rather, a good beginning to a metal recycler trip.

$153,000 in a 1990 J... they chased this thing way too long!

 

[flyingcheesehead]

How'd they get insurance? Last club I was in, we had to sell our two Mooney's, because NOBODY is insuring club Mooney's anymore. If you look into this, make sure you find out if they're insured! Sure miss the Mooney! Fast, low fuel burn, responsive little birds.

Troy,

When I was researching this, Avemco told me they'd still insure Mooneys for clubs and partnerships of up to seven people.

 

[ejensen]

Contrary to what was stated a few posts back, the Mooney spar isn't built up to be one piece wing tip to wing tip, rather the Mooney spar is one continuous milled piece of aluminum wing tip to wing tip.

Internet communication is tough. I think we both know what a Mooney wing is. I watched them being built last spring. By built up I was thinking of the web, caps, doublers, and various other pieces that make up the main spar assembly. All riveted and huckbolted together.

 

[TangoWhiskey]

Troy,

When I was researching this, Avemco told me they'd still insure Mooneys for clubs and partnerships of up to seven people.

Per plane? Or total membership?

That could have been our problem. We had 17 - 20 members (depending on when you asked) with two Mooneys (an M20K and an M20E) and a Cherokee Six.

 

[flyingcheesehead]

Per plane? Or total membership?

That could have been our problem. We had 17 - 20 members (depending on when you asked) with two Mooneys (an M20K and an M20E) and a Cherokee Six.

IIRC it was total membership. A local Cirrus club has the same problem, they started with one plane and want another but the insurance co. says they can't have over 7 partners, at least "not yet."

 

[bbchien]

So my partner and I are looking into purchasing a 1990 M20J. It is in excellent condition, and has a lot of nice panel avionics.

And this is why damaged aircraft, even if excellently, repaired have a harder time on the market than undamaged. This is a nightmare.

 

[Henning]

And this is why damaged aircraft, even if excellently, repaired have a harder time on the market than undamaged. This is a nightmare.

That's why I like them, I get a perfectly good plane at a discount. I can fly it for what I need then sell the plane as parts and make a profit (that's how I sold my Ag Cat to 5 operators who needed different parts. I got it in exchange for about $25,000 worth of flying, worked the plane for a season and a half then scrapped it out selling the parts for $48,000 when it needed an annual it would have cost $6000 to get through) Damage history does require extra vigilance on the part of the buyer.