1961 Piper Colt - $15K OBO

In over 55 years of flying I have NEVER seen a fabric aircraft left outside unless it was a real beater or there simply wasn't room in a hangar but one was coming up. If this airplane, as pictured , is and has been under roof it may be fine. It's complete history is very important. What fabric, how long ago was it done, engine hours etc. colts are great little airplanes and like all short wing pipers, land a little hotter but no reason not to buy it. Fabric airplanes have never done well outside. All my aircraft, including a Stearman were gone over very carefully before purchase and always hangared, there fore when sold I always got a good price for them. The price today, to recover a colt , is big money, not at all like it was years ago, which is why most fabric aircraft are under cover. However do not take my word for this, ask other owners of this type aircraft.
 
DaytonaLynn said:
Ryan
PM sent
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Reply coming...

The aircraft has been hangared for the last 20 years. I'm having a hard time finding a hangar nearby but she is being taken care of. With Kitty Hill closing hangars are hard to come by in this area!

Ryan
 
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Dan Thomas said:
Depends where it's been. There are plenty of fabric-covered airplanes outside here and have been for years and they're just fine. The bigger hassles are wind and animals, things that affect all airplanes.

Dan
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Yeah - this. I've been working with fabric covered taildraggers and other aircraft for 8 years now. The Cub that I work with down in Boerne has been in a hailshed for the entire time I've flown it as has the Super Cub nearby. Other aircraft like the Stinson, Taylorcraft, and Interstate birds down at 53T have been in hail sheds the whole time I've known them and as long as they are taken care of, get TLC, and aren't in direct sun, they seem to do fine. A hangar is certainly better, but direct sun is the bigger concern from what I've seen.

Ryan
 
Current pictures here: http://plus.google.com/photos/105169036701130323652/albums/5944297250404880913

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Ryan
 
How are you having this much trouble selling that plane for only 13k?!


You have it on all the websites too? (eBay, craigs, ASO, barnstormers, trader, etc).
 
ChitDisturber said:
How are you having this much trouble selling that plane for only 13k?!


You have it on all the websites too? (eBay, craigs, ASO, barnstormers, trader, etc).
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Everyone lies when they say they just, simply, want to fly but can't afford it. What they mean is I want to fly a box full of TV sets but can't afford it.
 
ChitDisturber said:
How are you having this much trouble selling that plane for only 13k?!


You have it on all the websites too? (eBay, craigs, ASO, barnstormers, trader, etc).
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I dunno. I have a student flying it twice a week right now, and she's a fine airplane, but I haven't had one of the maybe 12 people I've talked to actually come sit in it and fly it with me. I think it'd sell in a heartbeat if I could get a customer to fly it.

Ryan
 
How would one go about inquiring approval for a loan on an aircraft? Easier to go to your own bank or are there financing companies that specialize in aviation loans? If I was approved for one I would love to come check it out, but I wouldn't want to waste your time.
 
jdennis1989 said:
How would one go about inquiring approval for a loan on an aircraft? Easier to go to your own bank or are there financing companies that specialize in aviation loans? If I was approved for one I would love to come check it out, but I wouldn't want to waste your time.
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At this price point and year model, you're probably looking at a signature loan or putting up some other form of collateral.
 
jdennis1989 said:
How would one go about inquiring approval for a loan on an aircraft? Easier to go to your own bank or are there financing companies that specialize in aviation loans? If I was approved for one I would love to come check it out, but I wouldn't want to waste your time.
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I have a personal contact that might be willing to do a loan on this aircraft. He would probably want something like said above, and of course you'd have to insure the aircraft and name him as a beneficiary in the event of damage.

Ryan
 
Jimmy cooper said:
In over 55 years of flying I have NEVER seen a fabric aircraft left outside unless it was a real beater or there simply wasn't room in a hangar but one was coming up. If this airplane, as pictured , is and has been under roof it may be fine. It's complete history is very important. What fabric, how long ago was it done, engine hours etc. colts are great little airplanes and like all short wing pipers, land a little hotter but no reason not to buy it. Fabric airplanes have never done well outside. All my aircraft, including a Stearman were gone over very carefully before purchase and always hangared, there fore when sold I always got a good price for them. The price today, to recover a colt , is big money, not at all like it was years ago, which is why most fabric aircraft are under cover. However do not take my word for this, ask other owners of this type aircraft.
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Have you been to alaska? the super cubs set out all year long. Only the rich have hangars near their house.
 
There are always exceptions to the rule. Needless to explain why aircraft are left outside in Alaska, especially those on floats. Also needless to explain that many many pilots in Alaska probably work on their own aircraft, saving thousands of dollars. Also true that they're are countless accidents in Alaska due to weather and poor or inadequate maintenance. I always bought ,except for one on which I was burned by the former owner who was a liar, the best airplane I could find and had it gone over carefully. Engine, paint, interior, etc. why in hell would I leave it outside.!? Especially a fabric airplane! They deteriorate very quickly outside, especially from UV. Of the 10 I owned, none were left outside. I always got back my money or the vast majority of it. To me it's elementary. If one goes to taylorcraft aircraft photos, scrolls to no. 6 you will see one that I owned , photographed at Mayville, ny. It looked like that when it was sold. It was always hangared.
 
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Jimmy cooper said:
There are always exceptions to the rule. Needless to explain why aircraft are left outside in Alaska, especially those on floats. Also needless to explain that many many pilots in Alaska probably work on their own aircraft, saving thousands of dollars. Also true that they're are countless accidents in Alaska due to weather and poor or inadequate maintenance. I always bought ,except for one on which I was burned by the former owner who was a liar, the best airplane I could find and had it gone over carefully. Engine, paint, interior, etc. why in hell would I leave it outside.!? Especially a fabric airplane! They deteriorate very quickly outside, especially from UV. Of the 10 I owned, none were left outside. I always got back my money or the vast majority of it. To me it's elementary. If one goes to taylorcraft aircraft photos, scrolls to no. 6 you will see one that I owned , photographed at Mayville, ny. It looked like that when it was sold. It was always hangared.
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That's BS, the new fabric systems are good for many years outside. We are long past the era of dope and cotton.
 
It's bs if your careless and don't care. We had a freak snow storm here in maryland three years ago. It collapsed the wings on a taildragger parked outside. I just like well cared for aircraft and autos. I recently sold a 2007 Carrera S Porsche. It also remained in a garage unless it was driven. I also broke even on it. Anyone I know who works on or flys or both aircraft prefer them in a hangar which is why there are long waiting lists to get in one. Stupid to leave it outside!
 
Jimmy cooper said:
It's bs if your careless and don't care. We had a freak snow storm here in maryland three years ago. It collapsed the wings on a taildragger parked outside. I just like well cared for aircraft and autos. I recently sold a 2007 Carrera S Porsche. It also remained in a garage unless it was driven. I also broke even on it. Anyone I know who works on or flys or both aircraft prefer them in a hangar which is why there are long waiting lists to get in one. Stupid to leave it outside!
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Any aircraft / car is better off in a protective shelter. that does not mean the fabric aircraft must be in a hangar, paint is paint, and the metal aircraft are just as prone to UV as the paint on a fabric aircraft. Which in fact has a UV protection formulated in and the metal aircraft won't.
 
jdennis1989 said:
How would one go about inquiring approval for a loan on an aircraft? Easier to go to your own bank or are there financing companies that specialize in aviation loans? If I was approved for one I would love to come check it out, but I wouldn't want to waste your time.
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Many options for financing. I've used aopa and us aviation in the past.
 
rbridges said:
Many options for financing. I've used aopa and us aviation in the past.
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Those guys typically want $25k-$50k minimum loan amounts and won't entertain loans on aircraft over 50 years old. He's not going to find many options that are going to take the plane as collateral. I PMed him a guys name who is the president of a bank and also a pilot just down the road from him who might work with him.
 
bartmc said:
Those guys typically want $25k-$50k minimum loan amounts and won't entertain loans on aircraft over 50 years old. He's not going to find many options that are going to take the plane as collateral. I PMed him a guys name who is the president of a bank and also a pilot just down the road from him who might work with him.
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AOPA's loan calculator page says their minimum loan amount is $10k:

http://finance.aopa.org/Loan-Calculator.aspx

Their loan page FAQ claims age of aircraft is not typically a factor - since the average age of used aircraft is now around 40 years, 50 is sadly probably close to typical.
 
Jim Logajan said:
AOPA's loan calculator page says their minimum loan amount is $10k:

http://finance.aopa.org/Loan-Calculator.aspx

Their loan page FAQ claims age of aircraft is not typically a factor - since the average age of used aircraft is now around 40 years, 50 is sadly probably close to typical.
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Not sure about minimum amount, but my plane is a '65 model. They made me go with 10 yrs with boa (aopa). Us aviation let me go 15. Both wanted 20% down.
 
rbridges said:
Not sure about minimum amount, but my plane is a '65 model. They made me go with 10 yrs with boa (aopa). Us aviation let me go 15. Both wanted 20% down.
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BoA used to only do 25K+ loans ans had a 50 year old or newer no exceptions clause. It appears AOPA is not using BoA anymore.
 
Honestly, someone that can't round up 13-15k through savings or financing doesn't need to own their own plane. The costs of keeping the plane flying would likely be too much.

I'm still surprised that the plane hasn't sold.
 
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rbridges said:
Honestly, someone that can't round up 13-15k through savings or financing doesn't need to own their own plane. The costs of keeping the plane flying would likely be too much.

I'm still surprised that the plane hasn't sold.
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I guess it's time of year, location, etc... I've still only had one person actually come out and sit in the aircraft.

Ryan
 
rbridges said:
Honestly, someone that can't round up 13-15k through savings or financing doesn't need to own their own plane. The costs of keeping the plane flying would likely be too much.

I'm still surprised that the plane hasn't sold.
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Seriously, I think a guy could buy it, part it out and make money. ;)
 
It seems like a fun plane for poking holes in the sky. Wish I weighed less and lived in a place where hangaring was affordable.

Good luck with the sale.....
 
asgcpa said:
It seems like a fun plane for poking holes in the sky. Wish I weighed less and lived in a place where hangaring was affordable.

Good luck with the sale.....
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You know a 300 lb guy could have a 150 pounder along with him in this plane, and still have room for about 20 gallons of gas, right?

Ryan
 
rbridges said:
Honestly, someone that can't round up 13-15k through savings or financing doesn't need to own their own plane. The costs of keeping the plane flying would likely be too much.

I'm still surprised that the plane hasn't sold.
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Not sure if this was in response to my question.... I just asked since I have never owned a plane before and have never looked into how you would go about that. And since I have dropped close to 6k this year in flight training, medical, books, supplies ect. I don't have 13-15k to drop on a plane.

I live so close it would be easy for me go over and look at. I guess what's keeping me from pulling the trigger on being a serious buyer is because I am about to start preping for my checkride and I don't know if it would be wise for me to purchase a plane right now that I have no experience in or know anything about.
 
RyanShort1 said:
I have a personal contact that might be willing to do a loan on this aircraft. He would probably want something like said above, and of course you'd have to insure the aircraft and name him as a beneficiary in the event of damage.

Ryan
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Is this contact a legit lender or just a 3rd party to put up the cash? What would the ballpark figure be on insurance be on it?
 
jdennis1989 said:
Not sure if this was in response to my question.... I just asked since I have never owned a plane before and have never looked into how you would go about that. And since I have dropped close to 6k this year in flight training, medical, books, supplies ect. I don't have 13-15k to drop on a plane.

I live so close it would be easy for me go over and look at. I guess what's keeping me from pulling the trigger on being a serious buyer is because I am about to start preping for my checkride and I don't know if it would be wise for me to purchase a plane right now that I have no experience in or know anything about.
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oh no, my response wasn't directed at you or anybody in particular. It was just a blanket statement.
 
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