For Sale: Aircraft 1978 Piper Archer II $45,000

Bump, plane is for sale still. As you saw from another thread the high time
Engine prohibited him from securing financing on this beautiful bird.
 
For what it's worth, my.mechanic spoke to the mechanic maintaining this bird for for last 20 yrs and is contend that this was maintained very well. He didn't personally see it though.

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@WannFly -- outta curiosity, would any of the lenders you spoke with allow you to borrow an amount that would cover the purchase cost plus the cost to acquire and install a replacement engine?

While I know you don't have to do that to this aircraft, that would sorta solve their problems.
 
AggieMike88 said:
@WannFly -- outta curiosity, would any of the lenders you spoke with allow you to borrow an amount that would cover the purchase cost plus the cost to acquire and install a replacement engine?

While I know you don't have to do that to this aircraft, that would sorta solve their problems.
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just got a reply from another lender who would require me to get the OH / Reman price in the loan and put it in Escrow (lets say another 30k for OH/Reman) for *when* I need it. doesn't make any sense, to pay interest on 30k and I might not need it for another 300 hrs (or 700 or 70..dunno). but the lenders are sure as hell not happy about close to TBO/ past TBO engines.

From their perspective probably makes business sense. say I take the loan out and after 2 months stop making payment for whatever reason (the engine stops making power, or I decide to be a bigger jackass than I am today..). they can come and posses a plane past TBO and their worry is they wont be able to recoup the loan from a fire sell. they just don't want that headache.
 
Nice buggy. If it's not making metal and oil analysis checks out, I'd fly it another 1,000 hours before overhaul. O360 is a stout motor.
 
WannFly said:
just got a reply from another lender who would require me to get the OH / Reman price in the loan and put it in Escrow (lets say another 30k for OH/Reman) for *when* I need it. doesn't make any sense, to pay interest on 30k and I might not need it for another 300 hrs (or 700 or 70..dunno). but the lenders are sure as hell not happy about close to TBO/ past TBO engines.

From their perspective probably makes business sense. say I take the loan out and after 2 months stop making payment for whatever reason (the engine stops making power, or I decide to be a bigger jackass than I am today..). they can come and posses a plane past TBO and their worry is they wont be able to recoup the loan from a fire sell. they just don't want that headache.
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That 30k held in escrow doesn't make sense for you... But makes perfect sense for them. That interest is their profit. Lol.

Lenders suck when you're trying to buy on the low end of the market. If you are trying to buy 120k worth of airplane, you're golden.

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Have you looked into Lightstream loans? They are a division of SunTrust I believe. My partners and I bought our 182H using their loans. Minimal paperwork and the require no paperwork or equity in the plane. So basically an unsecured loan. I've done two different loans with lightstream. Highly recommended. www.lightstream.com
 
ircphoenix said:
That 30k held in escrow doesn't make sense for you... But makes perfect sense for them. That interest is their profit. Lol.

Lenders suck when you're trying to buy on the low end of the market. If you are trying to buy 120k worth of airplane, you're golden.

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Takes them just as much time and effort to write up a 45k loan as a 120k loan, so they aren't being irrational preferring to lend larger amounts.
 
wrighthenry said:
Have you looked into Lightstream loans? They are a division of SunTrust I believe. My partners and I bought our 182H using their loans. Minimal paperwork and the require no paperwork or equity in the plane. So basically an unsecured loan. I've done two different loans with lightstream. Highly recommended. www.lightstream.com
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I used lighstream when I bought into my partnership a couple years ago. Did not have to put the plane as collateral, paid a better interest rate than AOPA was quoting me, minimal paperwork, and really good customer service. Highly recommend them.

I think they only work with people with great credit though, if that makes any difference.
 
Steven8385 said:
Selling the plane I am a partner in. More photos can be provided see contact info below.
HANGARED AT MGJ, 6350 TTSN; 2300 SMOH
FULL IFR PANEL INCLUDES ENROUTE, TERMINAL AND WAAS APPROVED GARMIN GNS 480 GPS MAP-NAV-COM, YOKE MOUNTED GARMIN 496 GPS COLOR MAP WITH XM SATELLITE WEATHER; WX-900 STORMSCOPE; STANDBY VACCUM SYSTEM; STANDBY ELECTRIC ATITUDE INDICATOR; VERTICAL CARD COMPASS; CENTURY 2 AUTO PILOT with Alt Hold added; GARMIN GTX 330 ES27 TRANSPONDER A ADS-B IN/OUT 2020 COMPLIANT; JPI EDM-700 ENGINE ANALYZER & FUEL FLOW ;TANIS HEATER WITH BLANKET; KNOTS 2U SPEED MODS; SKY-FLASHER WINGTIP LANDING AND RECOGNITION LIGHTS, WHELAN STROBES, LED LANDING LIGHT; Kannad 406 ELT WITH INTERNAL GPS; CANOPY COVER; NDH; ALL LOGS SINCE NEW; ALWAYS HANGARED; VERY WELL MAINTAINED AIRCRAFT
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Plenty of toys, but....
 
GRG55 said:
Takes them just as much time and effort to write up a 45k loan as a 120k loan, so they aren't being irrational preferring to lend larger amounts.
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Absolutely. Makes perfect sense for them. Just sucks for us little guys.

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Contract executed and picking her up next week!
 
WannFly said:
o by the way.. if this really happens... I will be doing a 1100 dual XC before solo .... some people might get angry at me ;);)
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Why would anybody get angry? You should be able to get a lot of good experience in this one flight.
 
I got nothing but happy in my soul right now!! So excited
 
My flight will be similar. 1100 miles from NY to TX. Should be a good way for 47543 and I to get to know each other!!!!
 
Cory W Hays said:
My flight will be similar. 1100 miles from NY to TX. Should be a good way for 47543 and I to get to know each other!!!!
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That will be excellent experience both in learning your new plane and in flight planing for weather etc. And a nice adventure.:cheers:
 
I have made the 24 hr drive before. Should be a nice change of pace!
 
Another new plane in the neighborhood!

Just in time for the Airport Diner at Brenham to (partially) reopen in a couple of months!
 
AggieMike88 said:
Now that is good news!!!
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Had you not heard? I saw it on their Facebook. IIRC it was a June partial-reopening. Limited menu... but better than nothing.

A few weeks back we went and did a low approach at Brenham just to take a look... It was a Saturday, lunch time, the ramp only had a few of the permanent fixtures and one guy getting gas. It was a ghost town :(
 
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Very cool. I'll have to get to know the go to spots around here for sure!
 
Clip4 said:
Plenty of toys, but....
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It was priced right to allow for that. This is a 65-70k airplane with a low time engine. The market on Archers is pretty inflated (a lot like 172s).

You can OH an 0-360 for less than 20k. If the buyer does get it done for that, he's gonna be one of the few guys out there in the green on an airplane purchase as he'll be able to sell it tomorrow for what he's got into it.

Very good deal here.
 
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mkosmo said:
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Awesome! All through my training the taste of burger and 100ll kept me motivated. It made me sad when I read they closed and that I never made it. Now I have my chance!
 
Rebel Lord said:
Awesome! All through my training the taste of burger and 100ll kept me motivated. It made me sad when I read they closed and that I never made it. Now I have my chance!
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Worst case, they make an awesome burger at LBX as well.
 
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And She already made the board at Bush Intercontinental. #BestDayEver #N47543
 

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