Hi all. I'm hoping to get some insight.
I recently purchased a 2000 Piper Arrow. My intention was to use it at both as a personal aircraft and as a rental. I'm finishing up my private and plan to go for my instrument, and I figured if I'm going to put many more hours in my logbook, I want it to count as retract time.
I recently added it to a fleet at a flight school that already has (1) CR-12 AATD ($85/hour), (2) Cherokee 180s ($155/hour), (1) 172P ($155/hour), (1) 182G ($190/hour), and now my Arrow ($190/hour).
One of the CFIs there, out of curiosity, asked me why I got an Arrow. I said that I really wanted to get a Mooney for its speed, but I felt like the Arrow would be more suitable as a trainer/rental. He mentioned that the Arrow is not that much faster (than a Cherokee 180 or C172), and that with technologically advanced airplanes now being widely used for commercial training and checkrides, he seemed to indirectly say that complex aircraft are obsolete.
There is only one TAA C172 in the area (at a competing school), and complex airplanes can still be used for training/checkride purposes, so there is still a market for an Arrow, right?
I still feel like going 15 KTAS faster than a C172 while using 3 GPH less than a C182 is a big deal. Sure, retractable landing gear adds to insurance costs compared to fixed gear, but not much (my Arrow's premium is $6700/year vs one of the school's Cherokee 180s at $6000/year). The annual cost doesn't seem that much either (Blue Skies Aviation lists an annual for a PA-28-180 at $1360 vs an Arrow at $1760). I didn't see the sense in getting another PA-28-180 or C172, otherwise I could just rent one of the existing ones. Plus, I felt like it would competing with the other airplanes.
The flight school owner says that my airplane would also cater to already-licensed pilots looking for a faster rental, but with the C182 being the same (wet) rate, would the C182 more likely be chosen over my Arrow?
I am now worried that I may have made a mistake in getting an Arrow. Is there really little or no value in training in, getting endorsed in, or owning/flying a retractable gear airplane as the CFI seemed to imply? I find it hard to believe that everyone is buying a Cirrus. Even a used Cirrus SR20 can easily cost 3x to 4x the price of a used retractable (e.g. Mooney) that can go just as fast.