Nubie Question: New or Used for New Pilot?

If I were to take out one of those 20 yr financing plans I could afford up
to $200k. Not saying I want to, just saying I could (and live on soup an
romin noodles for a few years). Okay it would not be that bad but it would
be tighter than I would like. Anyway, if I were to decide to get a plane,
whats the best route new or used? It seems like if I want any type of
saving to justify going with a used aircraft, I have to get something at
least 20 years old. What type of things would I want to consider if buying
something 20 yrs old?

I am looking for something to take me on extended weekend trips to my family
who live around 700 miles away and I would like something that holds 4
adults in some level of comfort for shorter 200 mile trips. Considering my
use is it better to get something older that wont depreciate as much or
something new that will be more reliable and have new avionics/GPS?

I dont plan to do anything for about another year (saving up for down
payment), but I jsut wanted to get an idea on where to focus a majority of
my efforts. Granted, Ill keep all options open but I just dont want to
waste time looking at something thats not right for me.

Thanks,
Pico

In article ,
picopirate wrote:
If I were to take out one of those 20 yr financing plans I could afford up
to $200k.

The spread between old and new aircraft prices is such that $200k means
you can have just about any used airplane you want and pretty much no new
airplane that will fit your mission.

You're on the right track -- you've defined your mission and budget. Now
you just need to work on flying various types to see what you like.

--
Ben Jackson

http://www.ben.com/

"picopirate" wrote:
I am looking for something to take me on extended weekend
trips to my family who live around 700 miles away and I
would like something that holds 4 adults in some level of
comfort for shorter 200 mile trips.

A Cessna 182 fits those missions.

Considering my use is it better to get something older that
wont depreciate as much or something new that will be
more reliable and have new avionics/GPS?
I dont plan to do anything for about another year
(saving up for down payment),

Judging by the fact that you must finance the plane and save for a down
payment, I'd say you better make sure the monthly notes on the plane are
low enough so that you can actually afford to fly it. A 182 flown fifty
hours/year will probably cost you well over $100/hour, all costs
considered.
--
Dan
C172RG at BFM

Remember that the price of a new plane will take a big hit the first
year (just like a new car). If you're considering owning the aircraft
for 20 years then you should look at a good 1 or 2 year old pre owned
model.

On Sun, 18 Apr 2004 04:41:39 GMT, (Ben Jackson) wrote:

In article ,
picopirate wrote:
If I were to take out one of those 20 yr financing plans I could afford up
to $200k.

The spread between old and new aircraft prices is such that $200k means
you can have just about any used airplane you want and pretty much no new
airplane that will fit your mission.

You're on the right track -- you've defined your mission and budget. Now
you just need to work on flying various types to see what you like.

"Ben Jackson" wrote in message
news:6Gngc.17392$yD1.42379@attbi_s54...
In article ,
picopirate wrote:
If I were to take out one of those 20 yr financing plans I could afford
up
to $200k.

The spread between old and new aircraft prices is such that $200k means
you can have just about any used airplane you want and pretty much no new
airplane that will fit your mission.


A new Cessna 172 would fit his mission quite well and it would cost less
than $200K. So would a Diamond.

Among new airplanes you would have a choice of the Cessna 172S or a Diamond.
These planes will fit your mission profile quite well. The Diamond has a
wider cockpit than the Cessna.

Airplanes depreciate quite a lot the first three to five years then
gradually start to increase in value. Exceptions would be airplanes like the
Cirrus SR22 which has a severely restricted airframe life; some of these
planes are already approaching mandatory retirement.

Probably the best deals out there are used late model Cessna 182s.
Trade-a-Plane shows several of these as low as $170,000. The 1998 and 1999
model years were very good airplanes. There are also some used Cirrus SR20s
that are less than $200K and they still have a lot of life in them.

You could take an old airplane and re-paint it, put new interior and
avionics in it, a new engine, and guess what? It is still an old airplane!
It will never have all the safety features and capability of the newer ones.
The new Cessnas may have the same model designations as the older ones, for
example, but they might as well be different types. They are faster, more
fuel efficient, and far more comfortable. Everything from fuel systems to
avionics to engines has changed. Even the supposedly draggy airframe got a
thorough going-over.

Still, for the down payment that you put on one of these shiny suckers you
could buy an ancient 172 that will still fit your mission profile and you
won't have any monthly payments at all. You might even be able to afford to
fly the thing now and then. You could lose your job, but you won't have to
give up your airplane in order to be able to eat. Personally, I find far
more comfort and safety in staying out of debt than in having the latest new
thing. I would not buy an airplane that I could not pay cash for.

Ben Jackson wrote:

The spread between old and new aircraft prices is such that $200k means
you can have just about any used airplane you want and pretty much no new
airplane that will fit your mission.

The Maule MX-7-180B costs much less than $200k and meets those specs.

George Patterson
This marriage is off to a shaky start. The groom just asked the band to
play "Your cheatin' heart", and the bride just requested "Don't come home
a'drinkin' with lovin' on your mind".

Your mission profile calls for 700 nm trips. The new 4-place airplanes you
could get for $200,000, for example a Cessna 172,would not come close to
having the range to make this flight nonstop. And with a stop thrown in a
700 nm trip in a 120 kt airplane would probably take around 7 hours. If you
make this trip frequently, you should probably be looking for a somewhat
faster, longer range airplane. With your budget you could really choose
anything from later model Piper Arrows (140 kts and more than enough range)
or high performance fixed gear singles (Cessna 182, Piper Dakota, around 140
kts but may be marginal in range) to high performance heavy singles
(Bonanza, Cessna 210). The latter could make your 700 nm trips nonstop in a
comfortable 4.5 hours

Unless you live and fly in the Southwest, you either have or will want to
get an instrument rating. Choose an airplane that is already well equipped
with modern avionics, or budget maybe $20K-$30K for an upgrade.

--
-Elliott Drucker

4 adults in a 172?

C J Campbell wrote:
"Ben Jackson" wrote in message
news:6Gngc.17392$yD1.42379@attbi_s54...

In article ,
picopirate wrote:

If I were to take out one of those 20 yr financing plans I could afford

up

to $200k.

The spread between old and new aircraft prices is such that $200k means
you can have just about any used airplane you want and pretty much no new
airplane that will fit your mission.



A new Cessna 172 would fit his mission quite well and it would cost less
than $200K. So would a Diamond.

Robert Coffey wrote:

4 adults in a 172?

Well, if you're one of these people who insists that *real* adults all weigh at least
200 pounds, then no, it won't carry four. But the 172R will carry four 170 pound
adults and 25 gallons of fuel. Pretty comfortably, too.

George Patterson
This marriage is off to a shaky start. The groom just asked the band to
play "Your cheatin' heart", and the bride just requested "Don't come home
a'drinkin' with lovin' on your mind".