Eric
When you were looking did you find asking prices were close to VREF, or were they all over the map? I've seen some advertised at $18K with on condition engines, poor paint, interiors etc. But "great little trainer, burn very little oil, new cylinders years ago". I view these as parts aircraft.......
Frustrated
Martin
Hi Martin! No I am no expert at buying 150s....but I have been looking at em for over 2 years and with this club's many friends have learned a lot about buying....I am very thankful I didn't buy years ago as the more knowledge you have when buying the better the deal you will get...the more experience you have you will quickly see what's a good deal...a bad deal and by golly you better jump on this fast or you will lose it... the thing to remember is these aircraft are about 50 years old and somethings just need to be replaced. Basically the lower the airframe and engine time the better off you will be. I have found the vref values are way above what a seller will get. I'm looking at buying a very basic VFR 150 for $15,000 and expecting to be ready to spend several thousand dollars on "surprises". I don't know the market in Canada but do here...there are many 150s for sale in the $15,000-18,000 (Canadian $18,700-22,461) range. One of my friends has a beautiful 150 for sale...it's vref is $31,000 and at first offered it for sale a few thousand below that and it didn't sell...it's now at $24,000 and has been listed several months but has not sold. There are many 150 owners that have invested far more in their 150 than what they paid for it...I have seen some invest as much as $70,000 in them....but they won't get it when they sell them.
Good luck Martin and as one of my favorite Canadian sitcom heros, Red Green says "Remember we're pullin' for ya!"
Bill
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