Club Homepage Forums Classified Ads Buy & Sell - Everything But Airplanes New Member. Help me buy my first airplane.

I'll go one further...

The original inspecting inspection authorized A&P only has to write in the airframe log, "I certify that this aircraft has been inspected in accordance with an annual inspection and a list of unairworthy items dated xx-xx-xxxx was given to the aircraft owner." Once that line is in there, he doesn't have to ever see the plane again. As long the unairworthy items have been addressed by an appropriately certificated mechanic and the corrective actions recorded in the appropriate logbooks, the aircraft is airworthy and the annual inspection is good through the end of the 12th month after the first IA did the inspection.

There is no requirement, or even suggestion, for a mechanic to write in a logbook that he found an aircraft to be in unairworthy condition. Only if it's airworthy does that word get used.

You're right, of course! I last took the course in 1979, and have probably killed more than a few neurons since then!

N704LF is on Ebay now! N704LF [cgi.ebay.com]

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!!!!

What should I do?
What would you do if you were me?

Being a man of principle, I would honor your deal with the plane for $21,000. How many potential sales has this buyer lost holding this aircraft for you? And he has done so without asking a down payment. You owe it to this buyer to see this transaction through.

But otherwise, I still think cheaper plane is still the better deal for you. $25,000 for any standard 150 is too much money in today's declining market. Especially if you do not plan on keeping it for any length of time. You will have a lot better chance of getting your money back paying $21,000 over $25,000 for a Cessna 150.

Let your conscience be your guide, Tim.

Good luck!

Yeah, that's a problem - I think its called pre-buyer's remorse.

But I'm inclined to agree with Bill, you should at least have a chat with your seller to honor the agreement.

And the '68 is probably a better deal in the short run. Since the 1978 has only 850 hours in 30 years, where has it been? Has it flown recently? Planes just don't like to sit, even in a hangar. They were born to fly and stay in their best condition when they do.

Good luck,
Roger

What exactly is a "standard 150"? The one thing I've learned about airplanes is you can't easily compare airplanes unless they are the same make, model and year and even then there are gotchas. I've seen '68 150s that were worth 10K or less and a few that were worth 21K. A '77 in similar condition to a '68 in the way of paint and interior is still a slightly different animal with some more desireable (IMHO) structural differences. Radios alone are one huge variable that might easily make 10K's worth of difference between the price of two airplanes. A '68 worth 21K would have to be pretty primo (excellent paint /interior and good radios) while a '77 would be worth 25K with average paint/interior and decent radios). I think Bill is a bit jaded because it seems he lumps all 100HP 150s into the "standard 150" basket

If I were in your position, I'd buy the '78 and offer the owner of the '68 $500 for his trouble of waiting.

How quickly we forget the >>> 360 hr. Aerobat, 28k [cessna150-152.com] <<<


And the gorgeous pictures of their flight home:

http://www.cessna150-152.com/ubbthr...ew=&sb=5&o=&fpart=2&vc=1


Course, the Williams' is also an Aerobat. The one you're looking at sounds pretty good for a 77-78 standard 100hp at 25k. That's my take on it. Good luck.

Bengie

I like the way Hung thinks. In fact, I like the way Hung thinks on a lot of things. A 1978 model with low-low airframe total time is very desireable. It could be the easiest 10,000 dollars you've ever made...

You're an honorable man to be concerned about keeping your word. However, if you explain everything to the seller of the '68, I don't see how he wouldn't understand your interest in the later model airplane. You were oogling over it before his, but the price was out of sight. That's not the case now. If you do talk to the seller of the 68 model and decide to give him some money when you walk away from his deal, give it to him in 100 dollar bills. That let's him know you're still an honorable man, and that you're taking care of things while looking down the road.

my opinion:

Objectively look at both planes without the human emotions/pride/feelings. Decide which one you'll wish you had in 3 years. Then go for it. Get a buying buddy for the objectiveness if you have to. But, don't let pride or your personal feelings get in the way of making a prudent decision. It's only 4000 more for the later model, but it'll be infinitely easier to sell later. Nearly a decade younger and oodles less time on the airframe...

I'm glad I'm not in your shoes, though. Good luck.