You're kidding, right? Okay, instead of the normal candy coated
responses, here's your slap on the back of the head.

On Sun, 08 Feb 2004 02:41:04 GMT, Paul Folbrecht
wrote:

Me: 7x hour recently licenced PP-SEL.

Plane: '79 C152 being sold by my FBO for $19,200. TT is around 8000 (I
think), SMOH is 2050. Annual just done. This looks like an Ok deal to
me when comparing to like models, but the clincher is that they are
throwing in one year of hangering as well. That makes it look like a
pretty nice deal.

That' their job. They need to unload a tired old piece of junk that's
already been amortized by their accountant long ago!

Ideally I'd like to go into this with a partner but I haven't been able
to find one and I do honestly think they'll unload this aircraft before
too long. Not sure if the price or terms are negotiable but I would
like to try to squeeze a second year of hangaring out of them.

That's because someone else may want to buy with their head!

Concerns:

- Engine has only a few hundred hours till TBO. I know that means
dropping another $10K or so within a few years.

10K? Do you want a junk yard engine or do you want an engine you'll
be comfortable on takeoff with? $10K MAY get you a field overhaul if
everything else is in good shape. If the engine is original, it has
8000 hours on it. Don't let anyone bull**** you on this. How are the
cylinders? How is the crank and cam? What about the induction system
and mags? Starter and alternator? Don't fall for that 10K rebuild
crap. It's for cheapskates that don't give a rat's ass about their
own safety.

- Plane has been abused by students (including me) for 25 years now (the
FBO bought it new).
- The only A&Ps I know that I could have take a look at it work for this
FBO.

Strike 2 and strike 3. Sounds like you're aware of what you're
getting into.

Pros:

- The plane flies a lot; I know that's good for the engine.

To a certain point. The plane is being used as a trainer and the
engine is being abused as part of normal training. And the engine is
only a third of the airplane. What about all the rest of the
twisting, yanking, pulling, banging and slamming on the airframe
itself?

- The FBO is reputable and I know they do their maintenance and take
care of squawks.

They could very well be, but I'll bet you don't get into their
finances and don't see the real picture. Nobody except a private
owner will take care of a plane as well as a private owner. Besides,
what's a replacement airplane going to cost them?

I'm torn in general on renting vs. owning right now. I anticipate
flying about 100 hours/year- by my calculations that's right around the
break-even point. However, knowing you're always going to have an
aircraft available to fly, even on short notice, is something you can't
put a direct dollar figure on.

What you never see are the pop ups that occur when owning. All those
items that you'll authorized to be fixed when you're the main guy.
And, have you figured who you're going to use as a mechanic? As long
as you keep the present one on, you'll never be his number one
concern. If you can't do the work yourself, a simple tire change will
cost you over $400. An oil change can easily cost $250. Need a prop?
Fork over another $2K!

I know this issue in general has been beat to death more than anything
else here, and I've read a lot of the old threads, but any and all
comments welcome. I'm much newer at all this than most of you here.

~Paul

Paul, unless you have $35K to **** away, I'd start doing some
research. First and foremost is your mission. If it's Saturday
burgers for the next bunch of years, the 152 is okay. If it's flying
over to grandma's, you're SOL. What you need to do is start looking
at the big picture which includes, resale (you'll want to upgrade in
about a year, guaranteed!), replacement parts availability, AD's,
SB's, insurance costs, hangar, annual costs, equipment, accessories,
etc. As others have stated, when you get the engine taken care of,
you'll have an 8000 hour $35,000 152, and you haven't even mentioned
avionics which could cost you $5000 in a blink of an eye!

My thoughts:
1. Too many hours for any plane. When you're done with it, you'll
need to part it out to recoup any of your investment
2. A trainer all its life is a very, very bad thing.
3. Avionics?
4. You need to get this for $10K or have them supply an overhauled
engine for the $19K to even consider the deal.
5. Run, don't walk from this one.
6. Trade A Plane. See what the world is really like in this
"recovering" economy. $35K buys a whole lot of airplane, including
good 172's if you're a high wing guy. If you're a low winger, the
Cherokees may be more bang for your buck, and more in your price
desires. If you can't come up with the cash, finance. You'll be
doing it anyway, but on your credit card after the bills start coming
in.
7. If you're ready to buy, you'll walk away from dozens before you
find the one you want.
8. Unless you fly regularly (200 hours a year) you'll never
cost-justify the purchase vs. renting, so take that out of the
equation.