Re: Looking to buy a plane.....

[Drew Hamilton]

Mike Fortunato > wrote:
>If anyone knows of a LOW wing (Piper or similar) plane for sale where I
>can assume the existing loan payments, or owner financing, which is less
>than $200/month, please let me know. Thanks.

Planes can't really be less than $200/month, can they? That's less than
half of what I pay for my car.

- awh

[Ray Andraka]

You want something that flies, or a project? $200/month at 5% is less than
$20K. There isn't much out there that is not going to cost at least another
$200/month to maintain for that price. Don't forget to include your fixed
expenses like tiedown/hangar, insurance, annuals, registration etc. Plus if
you are going to fly it, you need to include the cost of fuel, and overhaul
fund and maintenance. A rule of thumb that seems to work out about right
for flying expenses is 4x the cost of fuel for something that is flown
regularly.

Mike Fortunato wrote:

> If anyone knows of a LOW wing (Piper or similar) plane for sale where I
> can assume the existing loan payments, or owner financing, which is less
> than $200/month, please let me know. Thanks.
>
> Mike
>
>
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--
--Ray Andraka, P.E.
President, the Andraka Consulting Group, Inc.
401/884-7930 Fax 401/884-7950
email
http://www.andraka.com

"They that give up essential liberty to obtain a little
temporary safety deserve neither liberty nor safety."
-Benjamin Franklin, 1759

[Dennis O'Connor]

Unrealistic... IF the budget is that tight, then rent...

"Mike Fortunato" > wrote in message
...
> If anyone knows of a LOW wing (Piper or similar) plane for sale where I
> can assume the existing loan payments, or owner financing, which is less
> than $200/month, please let me know. Thanks.
>
> Mike
>
>
> *** Sent via http://www.automationtools.com ***
> Add a newsgroup interface to your website today.

[Ron Natalie]

"Drew Hamilton" > wrote in message ...
> Mike Fortunato > wrote:
> >If anyone knows of a LOW wing (Piper or similar) plane for sale where I
> >can assume the existing loan payments, or owner financing, which is less
> >than $200/month, please let me know. Thanks.
>
> Planes can't really be less than $200/month, can they? That's less than
> half of what I pay for my car.
>
A 35,000 plane 80% financed for 10 years was about $300. So he's looking
at something like a $22,000 airplane. I'm sure they can be had, but they're
going to be real dogs most likely.

[David Megginson]

"Ron Natalie" > writes:

> A 35,000 plane 80% financed for 10 years was about $300. So he's
> looking at something like a $22,000 airplane. I'm sure they can be
> had, but they're going to be real dogs most likely.

Another possibility, if he just wants to buzz around rather than
making long cross-country trips, is an ultralight.


All the best,


David

--
David Megginson, , http://www.megginson.com/

[Ben Jackson]

In article >,
Mike Fortunato > wrote:
>If anyone knows of a LOW wing (Piper or similar) plane for sale where I
>can assume the existing loan payments, or owner financing, which is less
>than $200/month, please let me know. Thanks.

I think if your budget is that small you should be looking for a partner.
You'll still need additional momthly to cover hangar and insurance,
though. This will be close to another $200/mo even for the cheapest
options.

--
Ben Jackson
>
http://www.ben.com/

[Mike]

Thanks for everyone's answers. Yes, for $200/month, the plane would have
to be around $20K or a little less. Seems like they're out there --- a
Piper Tomahawk, for instance, or maybe an old Grumman.

And yes -- I'm also aware of the additional costs involved in plane
ownership -- which is why I want to keep the base payment less than
$200. I already have a hangar (building a kit plane), so that cost is
already being absorbed.

Renting may seem like the best answer, which is what I've been doing,
but it's not. For instnace, I like to fly to Vegas or Arizona for 3 or 4
days at a time, and the cost of rentals is too high since you have to
pay for all that flight time. And that's even if the plane is available,
since I want to fly the same time as most others do! Plus, I'm getting
sick & tired of having radios go out and other annoying problems with
the rentals.

I guess the search continues...but there has to be something out there.
Ultralight won't work for the x-country stuff. I've thought about a
partner, and would consider that, but how would I go about finding one?

Mike Fortunato

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[David Megginson]

Mike > writes:

> Plus, I'm getting sick & tired of having radios go out and other
> annoying problems with the rentals.

Just until you have radios going out and other annoying problems are
in your own plane. Seriously, I've been fortunate that all of my
avionics problems so far have been minor (usually just an hour's work
or so each), but during the peak time in the summer you might have to
wait two three weeks to get your radio back from the avionics shop.
At various points during my just-completed IFR training, I was flying
with no ADF (a big problem around here), no NAV2 (a minor problem),
and no ADF or NAV2 (very big problem -- IFR navigation with just NAV1
and a DME).

> I guess the search continues...but there has to be something out
> there. Ultralight won't work for the x-country stuff. I've thought
> about a partner, and would consider that, but how would I go about
> finding one?

Try a Cherokee 140 (preferably upgraded to 160 or 180 hp) with a
single partner -- that might not be too far off your target range if
you're splitting the price, but it's still a capable cross-country
plane.

For finding a partner, put a notice up on the board in your local
FBO's and flying schools, and while you're doing that, look for
similar notices from anyone else.


All the best,


David

--
David Megginson, , http://www.megginson.com/