What to buy...what to buy?

You said it brother. Don't finance the toys. I was in the same
situation last year and that's why I wanted to limit my purchase to
30-35k. I'd love to own a Steerman or Great Lakes, but I won't finance
any of it. Look hard for something that doesn't need any work. I've
read so many horror stories about guys buying airplanes, cars, boats,
etc. that were "good" deals but turned out to need tons of work. Both
my cars, my boat and my airplane came from caring owners. I can't
afford what I like if it's new so I take my time and find the best used
example I can find.

Good luck
Dave
68 7ECA

Carl J. Hixon wrote:
1.) I sold the 7GCAA (short wing, 160 Hp O-320, no flaps) after 250
hours. It was the right thing to do, but I *LOVED* that airplane.


Flaps, I don't need no stinkin flaps! My flight instructor (former naval
aviator) gives all of his students call signs. My call sign is "slip'er"
for my love of slipping the plane.


2.) The Stearman doesn't fit with your mission and needs at all, and
it's the least practical thing one can imagine as airplanes go. But
what the hell... if one turns up, buy it anyway. 8-


If I had any chance of parking a plane in my hangar and a Stearman came
along...I'd buy it and change my mission!! The sadest plane that ever got
away was a PT-23. (N63818) I got to know the owner from hanging around and
we got to be friends. He eventually put the plane up for sale but said,
"Listen, if you'll promise to keep the plane in SoCal and take me flying
once in a while I'll sell it to you for $35,000. [He knew how much I loved
the plane and knew that I'd be a good parent.] Anyway, it was the wrong
time in my life, and probably still is due to the expense of proper care.
PT found a home in NC for probably more than twice that price. I sent the
owner a POH I had with a letter just to check up on the old gal. He in
formed me that he was selling her because he had bought a Texan (?). Wish I
could have bought her then. There is just something about a big radial
engine, smoke, oil, and wind in your face...


3.) Don't wait. Money is cheap right now, and prices are low. It
sounds like you have a pretty good idea about what you want, so I vote
you jump with both feet. NOW.


Money is cheap right now but, this will be strictly a cash deal. I don't
worry a lick about dieing in a motorcycle or airplane crash but, the idea of
losing my job and not being able to make ends meet so that my wife can stay
home and the kids stay out of public school kills me. I refuse to take on
debt for a hobby at least until my kids are off in college which is more
than 10 years out.

Right now I am thinking about upping my purchase limit and am leaning toward
a nice Citabria or Grumman AA1-. I know the Citabria would keep me happy
for years. Haven't flown a Grumman yet although I hear only good things
about them. The side by side seating is a bother when flying with friends
but, it will be better for spending time with my sons.

Carl.
"Slip'er"

" I've read so many horror stories about guys buying airplanes, cars,
boats,
etc. that were "good" deals but turned out to need tons of work.

Boy have I learned my lesson there!!! I totalled my truck on the freeway
about 4 years ago. [Pilot error to boot] I had just gotten layed off 2
days earlier and was stressing out about not having a job...daymare over
money when BAM traffic had stopped but I had not. Thankfully nobody was
hurt but...okay now I'm really stressed. Decided not to go out and buy a
new car. What does this fool do...

I saw a used Jag XJ6 that looked pretty nice. I had always wanted a jag and
thought, I'll drive this for 6 months and then sell it. I shouldn't lose
more than $1000 and it will be fun. The owner was a doctor, all dealer
service, so I bought it for $8,000 without inspecting it very closely.
[hmm...no pre-buy inspection...] So I drive it for a month. Oh new tires
$800. Drive it for about a month. Oh, $1,500 service repair. Drive it for
a couple weeks. Surprise, another $700 repair charge. This time the Jag
specialist tells me, "There are a few things you should know about this
car..." Quick trip to Ford and a brand new F150. Dumped the Jag for
$2,000. [couldn't rip somebody else off...]

Cost of 6 months Jaguar ownership $9,000. Expensive lesson. We will be
doing some exhaustive research and a thorough prebuy inspection before
purchasing a plane.

Carl.

PS I'm travelling on business for the next 10 days so I'll be disappearing
for a while.

Carl J. Hixon wrote:


I saw a used Jag XJ6 that looked pretty nice. I had always wanted a jag and
thought, I'll drive this for 6 months and then sell it. I shouldn't lose
more than $1000 and it will be fun. The owner was a doctor, all dealer
service, so I bought it for $8,000 without inspecting it very closely.
[hmm...no pre-buy inspection...] So I drive it for a month. Oh new tires
$800. Drive it for about a month. Oh, $1,500 service repair. Drive it for
a couple weeks. Surprise, another $700 repair charge. This time the Jag
specialist tells me, "There are a few things you should know about this
car..." Quick trip to Ford and a brand new F150. Dumped the Jag for
$2,000. [couldn't rip somebody else off...]

Cost of 6 months Jaguar ownership $9,000. Expensive lesson. We will be
doing some exhaustive research and a thorough prebuy inspection before
purchasing a plane.

Hmm, sounds like you got off pretty easy as far as Jags go.