Latest update:
Now I am really confused about what to do. Let me summarize my current situation for those of you that haven't read the entire thread:
I am a 130 hour private pilot who is looking for a good, clean Cessna 150 as a pleasure aircraft for my wife and myself. I'd like to get the nicest 150 I can find, but still pay a reasonable price.
The first plane I looked at, N704LF, seemed like a great plane. It was located close to home, was a 1978 model, had only 850 hours, and had quite a few nice features. I went and looked at the plane in person and thought it was a pretty nice plane, but didn't think it was worth $35,000. I told the seller that I would think about it, and the next day I got an e-mail from the seller saying he got an offer from someone else who, sight unseen, was offering him $32,500 for the plane. Because I had looked at the plane first, he wanted to give me a chance to match the offer. I declined as I felt like it was still too high of a price and wished the seller well.
Plane #2 that I looked at the next day was 22741. It is a 1968 with 3700 hours on the airframe and 660 SMOH. This plane has decent paint, an OK radio stack, and a mediocre interior. I took it for a test flight and found it to be acceptable. I asked the seller what his bottom line was and he said $21,000. I said that sounded like a reasonable price and started arranging a prepurchase inspection. It is scheduled for a prepurchase inspection on Tuesday of next week. I have not paid any deposit on this plane or signed any sales agreement, but I have told the owner that I intend to purchase it.
Yesterday I got a call from my friendly neighborhood airplane dealer to tell me about a great Cessna 150 he has recently acquired. Apparently the owner of N704LF pulled his e-bay ad and ended up trading it in for a 1999 Skyhawk.
So now, N704LF is no longer owned by the prior owner, it is owned by an airplane dealer with whom I have previously established a relationship. This dealer wants to sell me more planes down the road and as such wants to make me be a happy customer. He also made out very well on the 1999 Skyhawk sale, and would like to unload the 150 as 150's aren't his favorite plane to sell. With all that in mind, the dealer offered to sell me N704LF for $25,000.
What should I do?
What would you do if you were me?
Which plane is a better deal? The 1968 for $21,000 or the 1978 for $25,000?
I am a little bit torn because the 1978 is a nicer plane with nicer features, much less time on it and a much nicer interior, but the 1968 is $4000 cheaper.
I can afford either plane, so I wouldn't choose the cheaper plane soley based on price.
Also, I plan on owning my 150 for 3-5 years and then buying a bigger plane. Which plane would be a better purchase in terms of resale?
HELP!!!!
