Panel Upgrade - Can I recover my investment

swingwing

swingwing

Pre-takeoff checklist
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Swingwing
I have nice clean, uncut 172M that has been in my family for 30 years. Low time 180 horse power factory new engine. Nice modern paint. Beautiful leather interior. Never a trainer.
It needs a panel upgrade. I was planning on doing a Garmin stack but my problem is that my family is growing and I'll need a bigger airplane in about two years. If I do the panel now, how much can I expect to recoup when I sell?
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With the upgrade the 172 will sell faster, but the money? who knows in this market.
 
I think it just comes down to a % recouped, and then maybe help selling the plane faster. It's doubtful you would get most of the 'investment' back. The real benifit is the gain you get while you fly and own the plane.

It needs a panel upgrade? With a time horizon of two years why not just go piecemeal? Just get what you need to get by. A radio that works is nice. You can move a portable GPS as needed in the future.
 
Please define "Need" Looks like a good basic IFR 172. Assuming what's in there is all operable what is needed?

Pumping cash into the panel of a plane you intend to keep for 2 years? You can expect to be very unhappy when it sells because you won't get a penny of it back. Think in terms of putting a pool behind the house you want to sell.

I thought through it a lot before I poured cash into my panel. But in my case, I plan to hold on to my plane like Mr Heston held his guns. Panel upgrades are just expenses, not investments IMHO.
 
Thanks for the reply. It helped confirm what I think I already knew. Current radios are working fine so I'll wait until I upgrade and throw money away on the new plane.
 
I agree. You would probably be better off leaving this one as is, and buying a 182/cherokee six/whatever with the panel you want.
 
Very seldom do you get your money back ,when you upgrade the avionics ,on an older aircraft. If your going to keep the airplane for a few years,it might be worth it to you.
 
Expect to recoup no more than 50% of the cost. So you need to get mucho return from flying nicer / safer / better with the new panel. Or wait for the next plane.
 
I would wait a year or two because of all the changes that are happening fast. Dynon and other hardware that used to be experimental are in the process of certification under the new relaxed rules. You will be able to have a state of the art panel for less than half the cost if you were to buy now. Don
 
yakdriver said:
I would wait a year or two because of all the changes that are happening fast. Dynon and other hardware that used to be experimental are in the process of certification under the new relaxed rules. You will be able to have a state of the art panel for less than half the cost if you were to buy now. Don
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Couldn't agree more. Right now would potentially be a horrible time to upgrade panels given the potential cost to go glass panel in the next couple years. If things go well that $20k panel might cost $10k and that 50% recoup would be more like 25%
 
Dollar for dollar - no. But it will make your airplane more enjoyable for you and standout when it comes time to sell.
 
You cold try to find a deal on a GSN430 and nav head, but I agree with the others, if you're just flipping the plane in a couple years, I wouldn't bother.
 
No, you won't recover the money. No electronics will pay you back and you might even price your plane out - I remember a certain tricked out Cessna 172 that wasn't worth anywhere close 90k.

A few months back I looked at a M20C with a very high time engine, it should be about a $35,000 airplane. With the GTN650/500 and the bluetooth audio panel, it was priced at 42k. The electronics probably cost $25,000 to install and gave back only about 7k on the price.

Electronic upgrades return something like 30-40%.
 
I disagree. Put in an aspen,2 glass MFD, WAAS GPS with coupled AP and alt hold now.

So I can buy your plane in 2 years for a fraction of what it would cost to do this.:D


But seriously - just buy a BO now and /thread.
 
What kind flying are you doing? Certainly not a substitute for any panel mounted gear but an iPad with solid EFB software and something like a Stratus 2 GPS/ADS-B receiver can go a long way of adding a LOT of information into your cockpit and be a hold over to a new panel if you are not already using one.

...I know, start the flaming...but outside of hard IFR...and even in IMC, they can add a lot to your cockpit in the meantime vs a new stack and be transferable to your next plane.

At most, add a used 430 or 530 if you are gonna flip it. That would be you least loss of investment.
 
I'd sell her the way she is and would save your investment for your next aircraft. A clean, well maintained 172 is attractive to the market. She would sell.
 
Heck let me know when your ready to sell it as is.
 
wow talk about coincidence i had one of the nicest m models 1900 tt everything perfict orig paint, interior new engine. paint perfect owned it for 20 years it had everything put $100k into it .paid 25 so i was into it $125k put 450 hrs on it and a thousand hours work. lost $80k .i did all the additions thinking it would be a perfect aircraft to retire with things change and i sold it .the new gen 172s have more market appeal than the older ones even though the m model is still the best one ever produced with 40 flaps and camber lift wing and a o320e2d with the 160 hp stc that was only 4 kts slower than a 180 at 8gph so buy the lowest cost ifr gps used that is going to be supported .and save the rest for your new aircraft and fly the heck out of it .
 
Having gutted a plane and put all new interior and some stack upgrades, then selling a year later, you will take it in the shorts. 40 cents on the dollar if you are lucky.
 
Unit74 said:
Having gutted a plane and put all new interior and some stack upgrades, then selling a year later, you will take it in the shorts. 40 cents on the dollar if you are lucky.
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This.

As a person who just experienced the EXACT same thing.
 
And when you buy the next one, pick one that has a panel you want alreadt in it?
 
Sundancer said:
And when you buy the next one, pick one that has a panel you want alreadt in it?
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this is what I did....up graded to WAAS and a nice autopilot for less than what I sold. :D

an airplane marriage can be spensive....:eek:
 
Traditional wisdom says no.

But, in a very limited application (like just putting in a used 430), you may either get a greater portion of your money back OR you may sell it so much faster that you make it all up in the overall picture (depending on your fixed costs for the airplane sitting there).

It seems like modern GPS birds sell a ton faster then older beat up panel birds, and usually at a 7-10k premium over comparable planes with outdated panels.

Now, if you spend 25k replacing radios, transponders, and audio panels, no. You'll never get it back or close to it.
 
I'll echo the buy your next plane with the panel money crowd. You can spend $25-40K easily on the panel and MAYBE get 50% of it back when you sell. Take that money and use it towards the new ride! A 172M is only worth so much, no matter how nice it is or what's in the panel, soon you are into 182 money and that's when you will find it difficult to sell. If you were planning on keeping it 5+ years, I would say go for the panel you want, but on a short window, just buy the next plane. Remember you might have it in the shop for 2 months for the upgrades!
 
Shawn said:
What kind flying are you doing? Certainly not a substitute for any panel mounted gear but an iPad with solid EFB software and something like a Stratus 2 GPS/ADS-B receiver can go a long way of adding a LOT of information into your cockpit and be a hold over to a new panel if you are not already using one.

...I know, start the flaming...but outside of hard IFR...and even in IMC, they can add a lot to your cockpit in the meantime vs a new stack and be transferable to your next plane.

At most, add a used 430 or 530 if you are gonna flip it. That would be you least loss of investment.
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That is the exact setup I fly, Ipad, Foreflight and a Stratus 2. All the post have convinced me to do nothing with the panel. I'm already going to be upside down when I sell.

I fly a lot of light IFR and updating the panel will not make my 172 much more capable. Going missed twice and having to try and make an alternate is not a fun game in the chickenhawk :(. It would be nice if I could stop saying "unable I'm a slash alpha."

Anyone have a 182/182rg they want to sell or trade?
 
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