Club Homepage Forums Classified Ads Buy & Sell - Everything But Airplanes Finding the right one seems overwelming

Rusty, that airplane sounds like it's only worth about $20k. There are MUCH better planes out there with nicer radios, paint, ect.
The only thing I see that it has going for it is that it has a relativly fresh engine. Was it a field overhaul or a factory reman? The King KX 170 B is not a bad radio, but it is not something that would reflect anything on the price. Now if it was a KX 155, then it would be a different story. But at that price it should be PRISTEEN, not have old paint and int.
As far as the landing gear, didn't the 152's have Cleveland wheels and brakes? Maybe they replaced the McCauleys with the Clevelands??

When I searched for my Warrior I looked for two months before I found "the right one". I seen a lot of turds with premium prices. My criteria was engine time (had to be midtime or less), airframe time (I didn't want no million hr trainers), avionics (I laxed here, I put $1500 into my panel as soon as I bought the plane. I talked the guy down a bit so I look as if I broke even), paint and interior, and of course...logs and maintenence history.
If you look at a few turds, dont give up hope...you'll find a nice one!

I dont mean to sound harsh but I think he is out of touch with reality also!

You said the plane is out of annual, and he took you up for a flight. Not a prudent thing.

His asking price of $37,000 is too much. Granted that he paid $15,000 and spent another $22,000 fixing it up, but he has got 3-4 years of use from it, so its value must be less. Like I mentioned in my email to you, each hour of engine usage is worth about $6, and each hour of airframe is worth about 50 cents.

I'd be interested to know what he spent that $22,000 on. A remanufactured O-200 only costs around $12K-$13K. Where did the other $9K-$10K go? If he counts the costs of annuals/maintenance during the last 3-4 yrs in there, subtract them out; those expenses are UPKEEP, they don't count as IMPROVEMENTS which increase the value of the plane.

I too would be suspicious of the nose geer being replaced. Why would one just up and replace the nose gear unless some damage was done? This may be logged as an "upgrade" but could have been a damage scenerio. Find out who else is aware of the plane at the airport and what they can tell you about it. If damage was done on the airport and it is a smaller airport, about everyone at times knows about it. Run the N number through the clubs search. This could show some things (but may not show other problems with the plane. ) Be civil to the owner--maybe he would go in as partners. If this is agreeable, have things in writing and check on other flying club by-laws etc. You may own a plane with a guy that only flys rarely, but still wants a plane to fly.

If the plane has a single (non flip-flop) nav/comm,
I'd hardly call it "IFR"

The engine has flown 70 hours in the past 2 years.
I rate that as bad.
I would have expected new magnetos at overhaul
and yet he just replaced them?
And the plane is out of annual?
And he's asking 37K?
And this crazy talk of a 152 nose gear?

I also advise against financing with this fellow.
If a home equity loan is a possibility, that would be better.

Gotta tell you-- this whole deal smells.
Sorry. You asked for advice. Now you are going to get it.

I mean no disrespect, but why are you considering a 150 for 37k when in your original post you said your budget was mid twenties or less ? That's $12,000 over your maximum dollar. Don't make the same mistake I see people make nearly every day. They have a maximum budget and spend right up to it for the purchase of aircraft. There are two types of things that I will guarantee you will come up after your purchase. #1 is things you will HAVE to purchase. Maybe an airworthiness related part that was missed or maybe something breaks. #2 is things you DESIRE to have. Maybe the paint is some awful color or the windshield is a little too milky for you. When these things come up (and did I mention they WILL come up) you'll have no money left to fix them.

So, with that in mind, I'll give you the same advice I give people who call me. Don't spend your maximum dollar on the purchase of the aircraft. If your maximum dollar is 25k, then look for aircraft in the 20k price range and work from there. I can remember 150s I bought in 1977 that were only 2 years old and they still required at least 2,000 "1977 dollars" to put them to airworthy standards and presentable condition.

My 2 cents.

Shelby.

The 37K was merely his asking price. I definately would not consider this plane for that price. I was merely looking for some feedback about this particular plane and it's potential value. I got exactly what I asked for. Besides, I doubt my attempts to convince him of the error of his ways will do much good. He'll have to hear the message from several other people before it will sink in. By that time I will have moved on.
Some of you have mentioned that when I find the right plane, I will know it. With this plane I feel like I will have merely "settled" even if he were to reduce his price to something more reasonable. I'm not all that fond of orange anyway!
Thanks for all your input and if something really catches your eye, (especially in my part of the country) don't hesitate to email me @ revans@hnb.com

I'm still looking.

Right on.

From several posters you got the sense that if something "smells" wrong you walk. Learn to develop and TRUST this instinct. You just proved yourself that there are planes as close as your own neighborhood for sale.

While we were looking for ours, we walked from seemingly fine airplanes because something smelled wrong. There were always more to look at.

I especially like Stephen's idea of having a non-emotional buying buddy there with you to point out all the flaws. I am amazed at the hangar rash on our plane that we never saw during the negotiating process. And there were lots of things we didn't catch that someone else might, such as end play on the crankshaft, loose bearings on the horizontal elevator, loose thru bolt on the cylinder (I know guys, you've heard this before) and these are all things I now know to check for. Get yourself a good, recommended mechanic, sounds like your going to need one soon!

BTW, I found a couple of 67 G's that sound like a more reasonable deal than this one, and one is below 20k! I recommend you stick w/ 67 or newer models as you intend to fly with your wife and that's the year they increased the cabin width slightly. HTH.

My advice is to find another plane. This is guy is trying to get his dream price (been there) and in no hurry to sell. By the time this guy see's reality (and that may be never) and reduces his price, you will have bought a different airplane. Use your time with realistic vendors and flush out everything close to home before you go far and wide.

When I bought my plane I searched everywhere and eventually bought the one I first looked at my local airport. It wasn't perfect (but a good solid airplane) I put a litte money into the 150 after I bought it (staying in my budget) to get the Ad's (I negotiated on these points) up to snuff. With a plan for improvements over time.

Don't get bogged down analyzing all the 150''s out there, if possible try to find 3 close to home with realistic pricing, check them out, research those models then negotiate. The advantage of local airplanes is that people know them and your is mechanic is close by to advise you.

Hope this helps,
Rock Whitney
71-150L