Hats off to you experienced plane buying people

[DFH65]

This is my first time through this and you guys that change planes like you change pants I honestly don't know how you do it. The ups the downs. The mental back and forth the, "I really want this plane" one minute to the "do I really want this plane?" the next.

Maybe it gets easier with time or maybe it is directly proportional to how much the purchase impacts you financially and how low or high end the aircraft is.

I will be glad when this is done one way or the other.

 

[tspear]

rofl, depends on how emotionally invested you are in the plane.
A few frequent plane changers I know are not very emotionally invested in any specific plane. They just like them all.

Good luck,

Tim

 

[Lachlan]

I don’t think it’s ever “done” once you buy an airplane. That’s just the beginning.

 

[frfly172]

Don’t let your emotions get the best of you. Think of it like any other large purchase. If you do the research ,and it looks like a good deal to you. Then enjoy the flying.

 

[GMascelli]

Having just sold my plane (80 Sundowner) I will say it wasn’t easy watching it fly off without me.

Within two days I closed on my new to me plane a 63 Debonair. Sitting here in my hotel waiting on wx to clear. Scheduled with a CFII for transition training the next two days.

It’s been an adventure, but if you do your homework and trust your A&P things work out. Don’t fall in love with the new girl unless she checks out, there are plenty of planes out there.

My flight journal has the info on the plane.

 

[tawood]

I like buying and selling stuff...planes included. I'm always buying/selling motorcycles, tractors, farm equipment, construction equipment, cars, trucks, boats, campers, motorhomes, houses, and airplanes. If you keep cash on hand, it is one way you can "move-in/move-up" in your hobbies and endeavors.
Just thinking back, I've owned:
--untold number of guns
--over 40 motorcycles
--couple dozen cars/trucks
--7 boats
--6 planes
--5 houses
--4 camper/motorhomes
--4 tractors
--4 ATVs
--a couple of bulldozers/backhoes/front end loaders
--3 Snowmobiles
--but no partridge in a pear tree

 

[wrbix]

Where’s Ben for emotional support when we need him?

 

[eman1200]

I like buying and selling stuff...planes included. I'm always buying/selling motorcycles, tractors, farm equipment, construction equipment, cars, trucks, boats, campers, motorhomes, houses, and airplanes. If you keep cash on hand, it is one way you can "move-in/move-up" in your hobbies and endeavors.
Just thinking back, I've owned:
--over 40 motorcycles
--couple dozen cars/trucks
--7 boats
--6 planes
--5 houses
--4 camper/motorhomes
--4 tractors
--a couple of bulldozers/backhoes/front end loaders
--2 ATVs
--but no partridge in a pear tree

and at least one drone.......

 

[Lowflynjack]

Planes are tricky to buy compared to a car. What mods are done? Are they documented? Oh, they have the STC, but never filed the 337. I'm amazed at how many issues like that we're finding while I'm helping my friend look for a new plane. Honestly, if you don't have a mechanic that is an expert on a particular plane, a lot of things can be missed.

For example, on a 170, the gear legs have been upgraded. How would you know this if you're not an expert on the plane, it's not in the logbooks, etc? We're finding things that should have been caught many years ago, by many different mechanics during many annuals...

 

[tawood]

and at least one drone.......

Ha! Three actually...my mom always said I'm trying to win, when it comes to "he who dies with the most toys"...

 

[DFH65]

I like buying and selling stuff...planes included. I'm always buying/selling motorcycles, tractors, farm equipment, construction equipment, cars, trucks, boats, campers, motorhomes, houses, and airplanes. If you keep cash on hand, it is one way you can "move-in/move-up" in your hobbies and endeavors.
Just thinking back, I've owned:
--untold number of guns
--over 40 motorcycles
--couple dozen cars/trucks
--7 boats
--6 planes
--5 houses
--4 camper/motorhomes
--4 tractors
--4 ATVs
--a couple of bulldozers/backhoes/front end loaders
--3 Snowmobiles
--but no partridge in a pear tree

I have several friends that are like that just love working the deal. I am not that guy. I do enjoy the research part of it though. Honestly I would probably LOVE to do this if it was someone else's money. I can promise you I know this airplane and the logbooks better than the current owner at this point.

Prebuy was done this weekend. We found some issues that need to be addresses some paperwork some mechanical. I am waiting on the mechanic to give me a price on necessary repairs so I can go back to the seller see what he is willing to do. We are not talking a big money airplane actually as planes go this is a used car but it still represents a lot of money for us.

 

[tawood]

I have several friends that are like that just love working the deal. I am not that guy. I do enjoy the research part of it though. Honestly I would probably LOVE to do this if it was someone else's money. I can promise you I know this airplane and the logbooks better than the current owner at this point.

Prebuy was done this weekend. We found some issues that need to be addresses some paperwork some mechanical. I am waiting on the mechanic to give me a price on necessary repairs so I can go back to the seller see what he is willing to do. We are not talking a big money airplane actually as planes go this is a used car but it still represents a lot of money for us.

In all honesty, the only thing I don't like buying and selling is airplanes...well, maybe airplanes, followed by houses. As a buyer of either, too many inflated prices by owners who don't understand selling. As far as selling airplanes, too many tire kickers / time wasters. And selling houses, too many people think its impossible if a realtor isn't involved.

 

[DFH65]

I have only ever bought two houses and would agree that isn't fun. Plane owners even more than car owners think their stuff is worth way more than it is. It also depends on the owner I know a guy that has a plane and he figures if it passes annual it is all good. Kind of treats it like a car. You could tell him airworthy is not necessarily equivalent to I would feel comfortable putting my wife and kids in it. Maybe it should be but...

 

[steingar]

Aircraft are rather like old houses. No two are alike, and they can have problems undetectable without expert guidance. And they can cost similar amounts. However, there is quite a bit of wisdom on this site about buying aircraft, and if used will decrease the probability that the buyer will purchase a lemon for the price of a diamond.

 

[tspear]

I have several friends that are like that just love working the deal. I am not that guy. I do enjoy the research part of it though. Honestly I would probably LOVE to do this if it was someone else's money. I can promise you I know this airplane and the logbooks better than the current owner at this point.

Prebuy was done this weekend. We found some issues that need to be addresses some paperwork some mechanical. I am waiting on the mechanic to give me a price on necessary repairs so I can go back to the seller see what he is willing to do. We are not talking a big money airplane actually as planes go this is a used car but it still represents a lot of money for us.

Any plane is a fair amount of money. Congrats on going for it. May it bring you and yours a lot of joy.

Tim

 

[James331]

Just remember more people want your money than his plane.

 

[edo2000]

After going through the buy and sell process many times, I agree with the comment that trading airplanes is often only marginally less painful than trading houses. The worst part for me is that I usually sell my (only) airplane before buying the replacement. And I don't like not having wings.

 

[Challenged]

I feel your pain.

 

[A1Topgun]

After buying your first airplane and flying it for a while you will know what you really want when you buy your second airplane. And third, and forth, and......

 

[zaitcev]

I think the key is to have fun and remember that it's only money. When I bought my first airplane, I just put $12,000 in one pocket, my gun into another pocket, and drove a Penske truck to a desert airstrip with a Quonset hut. I was too chicken to try and fly it, so the owner and I disassembled it and loaded it into the truck. I didn't care to bother with the "prebuy", although eventually I received a Bill of Sale form (at first the guy presented me with a remarkable handwritten document that was supposed to be sufficient for the FAA - I still keep it as a memento ).

 

[UngaWunga]

I remember that feeling, after handing the previous owner a bank check and they've left. You're sitting there by yourself with your new-to-you plane, 900 miles from home, think wtf did I just do. Guess I should fly it home now...

 

[OkieFlyer]

Don’t let your emotions get the best of you. Think of it like any other large purchase. If you do the research ,and it looks like a good deal to you. Then enjoy the flying.

Not picking on @frfly172 here, but this is, I think, the bazillionth time I've heard this. I think it's kind of funny, because for the most part, the pilot community often talks about the joy of flight, the therapeutic quality of flying, their passion for flight, daydreaming about flight and airplanes, the desire to fly since boyhood, etc., etc., etc. Then we turn around and tell somebody to not get emotional about buying their first plane. Ha!!!

If you don't have some pretty significant emotions going on with your first plane purchase, you better get back to Cyberdyne for maintenance, because you are a robot, and your emotions chip is on the fritz. It's nothing like any other large purchase. Heck for many of us, our house is the only thing close to resembling the investment in a plane. You have to have a roof over your head, so that's not a big deal. An airplane is a toy and you're dropping some serious coin on something completely unnecessary, and that's a big deal.

My advice, just hang in there. The rollercoaster is happening because you are trying to make good decisions. Not a dang thing wrong with that. The right deal for you will come along. And yes, I think it has a lot to do with the financial impact for many.

Just my $.02. Good luck!!!

 

[Challenged]

Imagine if cars were so expensive that your family could only own one. Now imagine that the car you buy doesn't come with a stereo and adding a stereo to it will cost you $15,000 to $20,000. Finally, imagine that you love to play golf, but the only car you can afford doesn't have a baggage door large enough for golf clubs...that's airplane ownership.

 

[saddletramp]

After two months of negotiations we had our daughter drive us 200 miles west to finalize the purchase & fly it home. After three hours of haggling & doing paperwork, we went to the sellers bank to wire the money. My bank indicated it would take several hours for the money to transfer. Incidentally, got two calls from my bank before the money transferred to verify that I had truly made this transaction.

The sellers weren't willing to let me fly away until they had the funds were in their account. I didn't blame them.

We decided to go get pizza. While we ate I checked my savings & the funds were gone but they didn't show it in their account. After we paid for the meal & were standing outside one of the sellers came out with his cell phone in hand & said "congratulations, you just bought an airplane".

As we drove to the airport to fly home my wife commented that I didn't seem very happy. She knows I'm Danish & never show much emotion...but still. I told her I was excited inside but sick when I saw our savings account diminished.

Now it's great memory.

 

[TheFB]

Crap, I was very emotional. I bought a Grumman Tiger to train in. I dropped a bunch more than I’ve spent for cars and about equal to my first house purchase. I told my CFI that was there to ferry it that I couldn’t concentrate well enough for a left seat training lesson home. I chickened out and watched him fly it home. Then we lost a mag.... Yes, it gets emotional... Hang in there; a year later I am a pilot and actually the year cost less than I budgeted.

 

[steingar]

After going through the buy and sell process many times, I agree with the comment that trading airplanes is often only marginally less painful than trading houses. The worst part for me is that I usually sell my (only) airplane before buying the replacement. And I don't like not having wings.

I traded for my current airplane. Worked out exceedingly well, the other guys' mission match my airplane and my mission matched his. I might have paid him a few grand too much, but I was happy to do it just so I didn't have to go through the process of selling mine.

 

[Lowflynjack]

In the situation I mentioned above, my friend has been working a deal on a plane for several weeks. The seller says it has a lot of nice mods. Sounds nice. My friend orders the CD from the FAA. Not one of the mods has a 337 filed. Now, it comes down to do you have the STCs and was the work at least put in the logbooks. No, no STCs and it's not in the logbooks. So this plane has been flying with illegal mods for years and multiple owners. Now the owner comes back and says his mechanic says "it would be better for you to deal with the STCs".

Then he decides to mention someone else might be interested in looking at the plane. Really? This is the second deal where someone tries to put the pressure of someone else is looking at it. We have airline tickets to go pick this plane up because you had a deal pending fixing the paperwork issues. Now you're going to try to sell it to someone else (or lie about someone else looking at it), probably hoping they won't notice the STCs and 337s are missing. Frustrating for us, but the moral of the story is, do your homework!

 

[Twin_Flyer]

Having just sold my plane (80 Sundowner) I will say it wasn’t easy watching it fly off without me.

Within two days I closed on my new to me plane a 63 Debonair. Sitting here in my hotel waiting on wx to clear. Scheduled with a CFII for transition training the next two days.

It’s been an adventure, but if you do your homework and trust your A&P things work out. Don’t fall in love with the new girl unless she checks out, there are plenty of planes out there.

My flight journal has the info on the plane.

, You've been holding out on us...

 

[hotprops]

Buying a aircraft is just the start of a long expensive journey enjoy the flight. Next comes the hangar,then add on ratings and all the panel upgrades needed to work on said ratings. than comes the buying of a hangar as renting will not feel good. than the hangar improvements ,kegarator,heat ,lighting ,tools and special tools,tug, and a golf cart or scooter to get around the airport. than you will inherit a "mission" that cant be fulfilled using current aircraft even though you just recently completed a firewall forward rehab of aircraft you now own . the new and improved mission capable aircraft will go through the same improvement cycle as the first. soon you will start looking at airpark homes with huge hangars and the hangar will look kind of empty so a addition of a low and slow tail dragger will become a necessity. you will need to work almost of your awake time to pay for all of the above,not giving you very much time to use all the neat stuff you now have . do not worry as it will work out in time and you will look back when you are old and grey and say to yourself "how did I do that!' . what a flight it will be,enjoy.

 

[charheep]

Buying a aircraft is just the start of a long expensive journey enjoy the flight. Next comes the hangar,then add on ratings and all the panel upgrades needed to work on said ratings. than comes the buying of a hangar as renting will not feel good. than the hangar improvements ,kegarator,heat ,lighting ,tools and special tools,tug, and a golf cart or scooter to get around the airport. than you will inherit a "mission" that cant be fulfilled using current aircraft even though you just recently completed a firewall forward rehab of aircraft you now own . the new and improved mission capable aircraft will go through the same improvement cycle as the first. soon you will start looking at airpark homes with huge hangars and the hangar will look kind of empty so a addition of a low and slow tail dragger will become a necessity. you will need to work almost of your awake time to pay for all of the above,not giving you very much time to use all the neat stuff you now have . do not worry as it will work out in time and you will look back when you are old and grey and say to yourself "how did I do that!' . what a flight it will be,enjoy.

Can I get an Amen?

 

[Katamarino]

Both of mine have been impulse buys after my mechanic and I had had a few drinks. First one worked out amazingly (CAP auction, sight unseen), and second one is looking good so far although it's early days!

 

[Let'sgoflying!]

I am both buying and selling an airplane right now. Double torture. But, this way I get to see what the other party is thinking and going through. Trying to make both transactions low-pain.

 

[Todd82]

rofl, depends on how emotionally invested you are in the plane.
A few frequent plane changers I know are not very emotionally invested in any specific plane. They just like them all.

Good luck,

Tim

I'm emotionally invested in the money my first plane is going to cost me, not as much as my wife is though

 

[Timbeck2]

After two months of negotiations we had our daughter drive us 200 miles west to finalize the purchase & fly it home. After three hours of haggling & doing paperwork, we went to the sellers bank to wire the money. My bank indicated it would take several hours for the money to transfer. Incidentally, got two calls from my bank before the money transferred to verify that I had truly made this transaction.

The sellers weren't willing to let me fly away until they had the funds were in their account. I didn't blame them.

We decided to go get pizza. While we ate I checked my savings & the funds were gone but they didn't show it in their account. After we paid for the meal & were standing outside one of the sellers came out with his cell phone in hand & said "congratulations, you just bought an airplane".

As we drove to the airport to fly home my wife commented that I didn't seem very happy. She knows I'm Danish & never show much emotion...but still. I told her I was excited inside but sick when I saw our savings account diminished.

Now it's great memory.

That almost word for word my story except that I bought mine to finish my PPL that I started a lot of years ago. It made sense that I could own cheaper than I could rent the schools clapped out birds and they didn't have any low wings to choose from.

 

[tspear]

I'm emotionally invested in the money my first plane is going to cost me, not as much as my wife is though

Awesome. My wife and I just had the same conversation last week when I out an offer on a partnership. we shall see if it happens. If not I may need to establish one...

Sent from my LG-TP260 using Tapatalk

 

[Stephen Shore]

I think there are alot of people on this forum like me - if it has an internal combustion engine, I am interested in it.

Airplanes, cars, model airplanes, boats, tractors, ATV's, chain saws, etc. - I have had several of each. I have never bought a locomotive engine, but only because I can't afford one and they are not practical.

I love burning fuel. And I am in the oil business so I make my living finding the oil to make the fuel.

I have no interest in a hybrid vehicle of any kind.

 

[stratobee]

You lose money on every single one. And totally worth it!

 

[paflyer]

I'm Danish & never show much emotion

Ha, I though it was just me, must be a thing (I'm 50% Danish, maybe a bit more if you count the Viking invasions of the other side of my family from Ireland.)

 

[GMascelli]

, You've been holding out on us...

 

[Twin_Flyer]

Nice!!! Why did you keep it a secret? You know how we love plane porn... Congratulations on the new ride!!!