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. I really wasn't looking at vRef figures at all. I did enough research to get a good feel for the market in Canada to judge (for better or worse) what I thought was a fair price. And this was my second 150. That said, the prices truly are all over the place.
Most airplanes were quite a distance, with many in Ontario. Of those, most didn't warrant a further look after initial research and discussions with the sellers - you have to be truly committed to make a journey like that!
When I saw the plane I bought I was fortunate to be travelling right in the area on a family vacation and was able to check the plane out in person. Unfortunately the owner was unavailable and the plane was locked up, but I did get to do a good walk around. But I wasn't quite ready to purchase. When the time came I checked and the aircraft was still available so then I got more serious with emails back and forth - LOTS of emails - to gain more details and insight into both the plane and owner. When I was ready to really have a go I flew to Calgary (plane located just south in High River) on WestJet, rented a car and went a looked it over. I had arranged for a mechanic to come out and do a pre-buy and I test flew the aircraft. Everything checked out and I bought $4500 less than asking. Flew it home the next day, feeling very (ignorantly) comfortable in the purchase.
I had my own mechanic do an annual when I got it home and unfortunately there were a lot of unwelcome repairs necessary. Nothing major, but lots of labour to correct.
Bottom line is I ended up spending what I would guess is top dollar, but it had 5400 TTSN, 430 SMOH, good paint and nice interior, along with VGs, flap gap seals, optical tach, etc. At the end of the day I am very happy, knowig I can trust the plane to fly my children!
Check them out, but if they are low price (ie $18K) you WILL be spending a bunch of extra money. There are some real sweethearts out there, but be very careful about corrosion because it is a west coast plane.
Good luck!
