Advice on buying a 152?

Right now, you have insufficient information to make that decision.

$28K seems high, compared to the fleet average of 152's. Condition and
equipment are everything in the plane market. 600 hrs on the engine isn't
bad, but it could be better. How many airframe hours? Most 152's have much
higher hours than 150's do, because most were purchased in the go-go days of
flight training in the late 70's.

You mentioned nothing of the avionics. Granted, you can't stuff too much in
a 152, but if you have brand-new Bendix KX 155's in it, with a KLN 94 IFR
certified GPS or a Garmin 430, and you're beginning to total up some bigger
bucks.

You need to see what's out there. Check www.aso.com or www.controller.com to
see the general price ranges for your year and number of hours and
equipment.

If you're getting serious, get an online subscription to Trade A Plane. It's
relatively cheap compared to the paper copies. On their website (with
subscription) they have a very good appraisal tool that lets you spec your
exact plane's equipment, airframe, paint, and interior condition.

Carl


"rajek" wrote in message
m...
I'm considering buying a 1978 Cessna 152 that the owner is leasing to a
flying club. I'd continue to lease it to the club and learn to fly in
it. (I have 3 1/2 hours now.) I'd hope that plane to earn enough money
to cover most of its maintenance and insurance, including a new engine
in a few years.

I met with the owner of the club this afternoon and we went over some
numbers. The plane and the club's other 152 have done a good job of
earning their keep so far. I could accept not quite breaking even.

I understand that renting is cheaper but I'm really excited about the
idea of owning a plane. I also really like that particular model. I flew
one on my last lesson and it was a lot of fun.

Asking price is $28,000. The engine has about 600 hours since the last
overhaul.

I'd also appreciate any comments or advice.

Thanks!

Wow, thanks a lot for the advice and suggestions. It sounds as though a
leaseback is risky but it can work OK in the right circumstances.
("Work" defined as substantially offsetting expenses, not necessarily
making a profit.) The club owner did talk with me about some of the
factors that affect the plane's earnings -- season, upgrades, cosmetics
and so on.

I'll do some more research and post again when I have more information.

Thanks!

Oh yea..

Be VERY wary/cautious of a club, school or operator that encourages YOU
to buy a plane for the purpose of them leasing it back from you,
particularly if they also perform the maintenance in-house and bill it
to you.

Dave

rajek wrote:
Wow, thanks a lot for the advice and suggestions. It sounds as though a
leaseback is risky but it can work OK in the right circumstances.
("Work" defined as substantially offsetting expenses, not necessarily
making a profit.) The club owner did talk with me about some of the
factors that affect the plane's earnings -- season, upgrades, cosmetics
and so on.

I'll do some more research and post again when I have more information.

Thanks!

Dave S wrote:
Oh yea..

Be VERY wary/cautious of a club, school or operator that encourages YOU
to buy a plane for the purpose of them leasing it back from you,
particularly if they also perform the maintenance in-house and bill it
to you.

Good point. I'm one of those who has had a leaseback and was satisfied with the
experience. I may or may not have made a little money, it was close. The OP said
he was OK with just having the lease cover much of the expense and not
necessarily making a profit, which I think is realistic... but Dave S's advice
is good. I'd have my lease contract make *me* responsible for providing an
airworthy aircraft, so I can shop around for maintenance services. Giving the
lessee free rein to do maintenance as required and bill you for it is like
writing a blank check.

Dave
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