Im looking at buying my first plane and was set on a archer or cherokee 180. I was shopping around and seems like the arrows go for less money than a decent cherokee or archer. Im looking for a plane with around 1000 pound useful load and around $100,000 with a mid-time engine. Not really concerned too much about speed but the faster the better. Id like one IFR rated i dont need full glass panel but would like some decent avionics. Is this possible for around $100,000. It seems like you can get more plane for less money with the Arrow than the archer or Cherokee. How much more would the annual be on the arrow vs the archer on average. I know insurance would be quit a bit more on the arrow as well. A Tiger would be perfect but looks like the run in the $130000+ range. I was also checking out the Cherokee 235. You guys have way more experience so I figured id get some advice from you guys or if you had any other recommendations on different planes. I rent a 172 now but its getting to were its all booked up and can never fly so id figure id look into purchasing one for myself.
The Cherokee/Warrior/Archer planes, basically the sub-200hp fixed-gear PA28s, are in relatively high demand as trainers, so you can definitely get more bang for your purchase buck by going with something that isn't used as a trainer, like an Arrow.
However, the Arrow was designed as a complex trainer so you can do even better with something like a Mooney, Comanche, etc.
Annual will run you a few hundred bucks more to put it up on jacks and swing the gear. Insurance will cost more, especially if you're low time, low retract time, and/or not instrument rated. Buy it, fly the hell out of it, and once you have 100 hours in it go back and get cheaper insurance.
After flying her for awhile, and seeing the speed of Cirrus, I guess I wish I had something that would fly closer to 200kts. I guess I wonder if those who have Bonanzas and Mooneys want something faster or not too or if they are happy with their 150kts.
I have a Mooney M20R Ovation that goes about 170-175 KTAS on 10 gph. Sure, there are times I'd like to go faster, who wouldn't? But to go any faster VERY quickly gets very expensive. I recognize that I'm pretty much at the knee of the hockey stick when it comes to performance per dollar... And I think about that while I'm on a longer cross country wishing I could go faster and then I'm OK. It's nice to have a plane that is cheap enough to fly that I never really have to think about the cost of flying it.
I don’t desire more speed because I can travel a 1000 miles in 8 hours, yeah it would be nice to go TBM speed but I can’t afford the fuel costs let alone the airplane.
This.
Honestly, fuel costs might be the cheapest thing about a TBM. 57-60 gph for 310 knots or dialed back to 260 knots at like 37 gph is pretty freaking efficient, especially for airline replacement. Remember that contract jet fuel is dirt cheap compared to 100LL. The rest, oh yeah.
The newer ones (9xx series) will go as low as about 52gph at FL310... But you're going to be burning 90 gph near the ground during takeoff and climb, and a bare minimum of 35gph any time the prop is turning. It's a really nice airplane for the most part but cheap, it is not. $500/hr minimum, after spending seven figures to buy it.
in the Arrow vs Mooney scenario. Is parts availabilty a con of going with Mooney?
Mooney still exists and still sells parts, they're just not making new airplanes.
Also, in 12 years of owning a Mooney, I have yet to replace an actual Mooney part. Lights (Whelen), Tires (usually Desser recaps), Engine parts (Continental), Gear pucks (Lord), Brakes (Rapco), Spark plugs (Tempest), fuel pump (Weldon), fuel hose (Parker), trim switch (Honeywell), speed brake overhaul (Precise Flight), etc... You get the picture. The plane itself seems to be pretty much bulletproof.
Diamond DA40. Easy to fly, safest GA plane ever produced. Anyone can work on its ubiquitous IO360. Capable of 150ktas, I usually run it at 135kts at 8gph. My insurance is only $1200 on a $250K hull value.
It's a fantastic airplane, but you're not gonna find one for the OP's $100K budget.