How crazy is buying a 60 year old 172...

C

Caspar

Filing Flight Plan
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Caspar
I can buy a 60 year old 172 that just passed its anual for about $8k... barely any logs, still lots wrong with it but it runs and flies...

Talk me out of it or into it...
 
Caspar said:
I can buy a 60 year old 172 that just passed its anual for about $8k... barely any logs, still lots wrong with it but it runs and flies...

Talk me out of it or into it...
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At 8k??? go for it. 80 hours it paid for itself.
 
The average price is around $22k - $27k, so since if passed annual it sounds like it could be a good deal.
 
your a crazy man!

I kid!
 
Caspar said:
I can buy a 60 year old 172 that just passed its anual for about $8k... barely any logs, still lots wrong with it but it runs and flies...

Talk me out of it or into it...
Click to expand...

“Barely any logs” likely means every AD will need to be redone. If the shutdown ends soon, get the airframe records CD so you’ll know what 337s have been filed and what damage has been reported.

An airworthy 172 for $8k? I’d recommend running away like brave Sir Robin.
 
Stephanie B said:
“Barely any logs” likely means every AD will need to be redone. If the shutdown ends soon, get the airframe records CD so you’ll know what 337s have been filed and what damage has been reported.

An airworthy 172 for $8k? I’d recommend running away like brave Sir Robin.
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Actually, with nothing more to go on, I would think you could fly it for 100 hours and then part the airplane out and actually make money on it as well. Free flying time.

But the devil is in the details. If it is truly airworthy, why is it so cheap? What exactly is wrong with it?
 
Greg Bockelman said:
But the devil is in the details. If it is truly airworthy, why is it so cheap? What exactly is wrong with it?
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Lots, but nothing that I know so far that prevents it from flying for another 6-12 months, don’t park it on a hill, no need to do VOR checks, gotta find a compass somewhere or use the sun...
 
If it is airworthy, has all ADs addressed and has a fresh annual, it is worth much more than $8000. Why would the owner want to give it away?
Please keep in mind that lots of stuff gets done to fix a bent plane that never enters the logs. Those fixes should; however, they don't.
 
Stephanie B said:
“Barely any logs” likely means every AD will need to be redone.
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Not true, they must be complied with at annual.
this 172 just passed its annual.
Plus there isn't any AD on an early 172 that would cost much to comply with.
 
Greg Bockelman said:
Actually, with nothing more to go on, I would think you could fly it for 100 hours and then part the airplane out and actually make money on it as well. Free flying time.

But the devil is in the details. If it is truly airworthy, why is it so cheap? What exactly is wrong with it?
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How much can be wrong with an early 172? It's cheap, maybe it is just a good deal.
 
Caspar said:
I can buy a 60 year old 172 that just passed its anual for about $8k... barely any logs, still lots wrong with it but it runs and flies...

Talk me out of it or into it...
Click to expand...

If you don't buy it let me know where it is and I'll go pick it up.
 
$5500 if its due for an aileron fluid flush, filter change and refill though...
 
Caspar said:
I can buy a 60 year old 172 that just passed its anual for about $8k... barely any logs, still lots wrong with it but it runs and flies...

Talk me out of it or into it...
Click to expand...
Can you give a little or lot more information on the condition?
 
AKBill said:
Can you give a little or lot more information on the condition?
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It runs, flies, guy put like $5k into the annual, decent compression on the cylinders, oil pressure is a bit off. Some corrosion was fixed last year during the annual, it flew about 75 hours this past year. Paint is ok, interior needs help. Panel is ‘original’.
 
Tom-D said:
How much can be wrong with an early 172? It's cheap, maybe it is just a good deal.
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You know, after I made the reply I was thinking that with ratty paint and interior, relatively high time engine, and no radios, $8,000 might not be that far out of line. If I were in the neighborhood, I would be interested in looking at it.
 
Greg Bockelman said:
Actually, with nothing more to go on, I would think you could fly it for 100 hours and then part the airplane out and actually make money on it as well. Free flying time.

But the devil is in the details. If it is truly airworthy, why is it so cheap? What exactly is wrong with it?
Click to expand...
Actually you'd insure it to the max, and hope it gets totaled. Insurance companies are the only ones paying full asking price.
 
Caspar said:
It runs, flies, guy put like $5k into the annual, decent compression on the cylinders, oil pressure is a bit off. Some corrosion was fixed last year during the annual, it flew about 75 hours this past year. Paint is ok, interior needs help. Panel is ‘original’.
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that's a 20 k aircraft.
 
Why are we still talking about this? Somebody snag that puppy, fly it or part it, or both sequentially....
 
Tom-D said:
Not true, they must be complied with at annual.
this 172 just passed its annual.
Plus there isn't any AD on an early 172 that would cost much to comply with.
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Yesterday your advice was a full annual for a pre-buy, including checking wheel bearings. Today, since the plane has had an annual in the last year, you can be sure every AD has been complied with.

You’re very consistently inconsistent.
 
Salty said:
Yesterday your advice was a full annual for a pre-buy, including checking wheel bearings. Today, since the plane has had an annual in the last year, you can be sure every AD has been complied with.

You’re very consistently inconsistent.
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If it was me I would take $8000 cash and buy the airplane before the seller changes his mind. Sounds like a deal to be had, if he messes around to long someone else will have it.
 
pigpenracing said:
If it was me I would take $8000 cash and buy the airplane before the seller changes his mind. Sounds like a deal to be had, if he messes around to long someone else will have it.
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Yeah, that. Unless it has something obviously wrong like a firewall issue or spar corrosion or something.
 
Lowflynjack said:
The average price is around $22k - $27k, so since if passed annual it sounds like it could be a good deal.
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Bad interior, paint is old, says there's an oil pressure issue (red flag for me), sounds like it doesn't even have a functioning compass.

It's an $8k plane because the cost to make it a $22k plane is immediately obvious.

That said it's a flying plane for $8k. If you have a free place to park it, why not?
 
aftCG said:
Bad interior, paint is old, says there's an oil pressure issue (red flag for me), sounds like it doesn't even have a functioning compass.

It's an $8k plane because the cost to make it a $22k plane is immediately obvious.

That said it's a flying plane for $8k. If you have a free place to park it, why not?
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Yep, he's given a lot more details since my comment. How did it pass an annual without a working compass or with an oil pressure issue? Still for $8K...
 
8K I would be really tempted to buy it and fly the daylights out of it for a year. If the cost was more than a few K to get it through another annual and of course keep it safe I would part it out.
 
Caspar said:
I can buy a 60 year old 172 that just passed its anual for about $8k... barely any logs, still lots wrong with it but it runs and flies...

Talk me out of it or into it...
Click to expand...

How can it pass annual with lots wrong with it?
 
Clip4 said:
How can it pass annual with lots wrong with it?
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Because there was nothing between the pen and the logbook. Just because a plane had an "annual", doesn't always mean it had a annual if you catch my drift. I'm always suspicious of any airplane that comes with a fresh annual.
 
There is plenty of room between lots wrong and airworthy.
 
The only way I'd consider it was if I happened to have $8k laying around that I was otherwise willing to throw into a burning dumpster. Missing logs and lots of problems means it will probably cost more to fix than it will ever be worth. Which means once its no longer safe to fly, its junk. Which means you should go into it planning to either scrap it or part it out once it breaks. It'll be cheap to fly for a while. But how long is an unknown. Get a year out of it, great. Get 3 weeks out of it, not so much. I'm a pessimist. When I hear its got lots of problems that can be seen, I take that as meaning it probably has lots of other problems that can't be seen.
 
Tom-D said:
Not true, they must be complied with at annual.
this 172 just passed its annual.
Plus there isn't any AD on an early 172 that would cost much to comply with.
Click to expand...
You and I both know that not all mechanics are honest.
 
Salty said:
Yesterday your advice was a full annual for a pre-buy, including checking wheel bearings. Today, since the plane has had an annual in the last year, you can be sure every AD has been complied with.

You’re very consistently inconsistent.
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I wouldn't buy any aircraft with out a good pre-buy. that's not to say this one didn't have one. Caspar knows there is lots wrong with it, so that doesn't mean it isn't airworthy.

Lots of folks here can imagine a lot with out knowing anything.
 
DFH65 said:
8K I would be really tempted to buy it and fly the daylights out of it for a year. If the cost was more than a few K to get it through another annual and of course keep it safe I would part it out.
Click to expand...

Depending on how much corrosion or "other things wrong" with it, you might inadvertently fly it and part it out at the same time.
 
Dan Thomas said:
You and I both know that not all mechanics are honest.
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I'd say there are a lot more A&Ps doing great work, than those who aren't, remember 2% of the people make 100% of the news.
 
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