kevin47881
Final Approach
Alright folks, I need some honest input and what better place to make the request.
As some of you are aware, I've had plane fever for over a year and just can't find the right deal on the right plane.
I spoke with a friend of mine (use to own the flight school where I got my ticket) who is an AP about a plane for sale on the field. He did the annual and had reservations about a recommendation.
So, we continue BS'ing and he informs me his 1970 Cherokee 180 is for sale if interested. I have flown the plane when it was on the flight line and am familiar with it. What he wants and what I'm willing to give are a few acres apart. After much discussion he offers to keep the plane, put me on the insurance and let me use the plane at my will (he only flew the plane 6x last year). The offer he made is the same as he had with another gentlemen who is buying his own bird.
I will have no out of pocket expense and will not have any ownership.
So, without further ado, here are the numbers. I must say it looks "too good to be true" so punch holes in proposal.
All numbers are based on a very modest 4 hours per month:
Current FBO rental for 172 SP with tax $533/month
Proposed offer for Cherokee 180:
4 hours at $20/hour = $80
Fuel for 4 hours= $144
Fixed expenses = $200
Total for 4 hours = $424/month
Thanks in advance for your input.
As some of you are aware, I've had plane fever for over a year and just can't find the right deal on the right plane.
I spoke with a friend of mine (use to own the flight school where I got my ticket) who is an AP about a plane for sale on the field. He did the annual and had reservations about a recommendation.
So, we continue BS'ing and he informs me his 1970 Cherokee 180 is for sale if interested. I have flown the plane when it was on the flight line and am familiar with it. What he wants and what I'm willing to give are a few acres apart. After much discussion he offers to keep the plane, put me on the insurance and let me use the plane at my will (he only flew the plane 6x last year). The offer he made is the same as he had with another gentlemen who is buying his own bird.
I will have no out of pocket expense and will not have any ownership.
So, without further ado, here are the numbers. I must say it looks "too good to be true" so punch holes in proposal.
All numbers are based on a very modest 4 hours per month:
Current FBO rental for 172 SP with tax $533/month
Proposed offer for Cherokee 180:
4 hours at $20/hour = $80
Fuel for 4 hours= $144
Fixed expenses = $200
Total for 4 hours = $424/month
Thanks in advance for your input.
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