par

To borrow or not to borrow. There is no simple answer here. Borrowing makes sense for some and maybe if you have a tree in the backyard growing money, it doesn't. I think its foolish to spend 50K in cash even if you have plenty of money saved on a depreciating asset such as a vehicle. Let the bank take the risk because chances are, you aren't going to keep the vehicle/airplane/boat forever. Just like I would never put a 40K dollar engine into a 30K airplane, I would never spend 50K in cash when I can spread out the cost over a few years knowing I'll probably sell the plane before its paid off/timed out anyway. Of course, one must have a steady income to play this game but you need a steady income to own an airplane period whether you take a loan or pay in cash.

I'm sure it cost a lot and maybe even more than its worth but its good to see it saved. Good on these people for their effort and it definitely paid off.

If I put a $500 deposit on it, can you hold it for me while I save up a $100K?

I had a similar issue with my carb heat cable that needed to be replaced. Mooney did not have one available for months and it was very pricy. So, I went to aircraft spruce and ordered a carb heat cable for a Cessna at a fraction of the cost. You may want to go this route as well if you can't find an OEM replacement.

I used Airpower and I currently pay just a little under $800/year on my C that is worth around 40k. However, most of my time in in turbine aircraft so i'm not sure how that would affect your case. I do recommend you give Airpower a call though...they are very responsive and easy to work with.

I agree with you fully. Mechanical things depreciate, that just a fact of life. The way I look at it, i'm taking a slight risk being an airplane owner and in the long run, it is not a money maker, much like the cars I own. If I end up with a $40,000 surprise along the way, i'm parting out the airplane and minimizing my loss. It makes absolutely no sense to put $40K into a $30K airplane. You are better of starting over and buying another plane at that point. Anytime I purchase a vehicle, I do so with the understanding that it will not make me any money in the long run...that lets me sleep a little easier at night.

It is difficult to explain the problem without a video here so let me see if I can succeed this time. If you reference the picture, I am looking at the silver colored knob between the prop and mixture knobs. In the center of that silver knob, you can see a smaller button that looks to be depressed in the picture. While I was getting familiar with the plane, I managed to actually pull that button completely out of the larger portion that surrounds it. I would say it is about the circumference of a pencil and about 3-4 inches in length. After removing it, I was able to place it right back inside and it has been there ever since. The flaps were just serviced today and the shop tells me they are working fine. What I'd like to know is, do I need to address the issue of that center button coming completely out of the larger knob? Should the button shaft be retained somehow inside the larger knob to where you should not be able to pull it out?

Being a 63 C, the pull out knob retracts the flaps. The push button in the center allows you to pull out the knob.

I actually ended up finding a hangar at Hampton Roads for $265/mo...which is much closer to me than Suffolk.

While messing the flaps the other day, I ended up pulling out the small round push button that is in the center of the flap retract knob(located between the mixture and prop control knobs in the picture below). Anyone know how this button is actually secured and the implication of me being able to completely pull it out? Also, sorry about the inverted image...don't know why it happened or how to fix it.

You mean to say there is no such thing as a free lunch? I am shocked I tell you, shocked!

That is also my thought on the subject. I'm going to see if the guy can fix the issue under his warranty first but if that does not work, I will most likely go the bladder route.

For those who have gone through the process and spent the money, how much value did you add with fuel bladders? I recently purchased a C that had the tanks sealed but that does not appear to have solved all the leaks. If the problems continue, I would consider going the bladder route. How much of the investment can I expect to recover upon resale? Par

Saw this flash across my Facebook feed today: http://www.australianflying.com.au/news/mooney-rolls-out-first-chinese-acclaim "Mooney International is owned by Chinese real estate firm Meijing Group, and is targeting the local market for export sales from the Texas plant. According to Vice President of Sales Peter Claeys, the company sees China as a growth market. “There is certainly a large potential market for high performance personal and training aircraft in the world’s most populous country," he said, "and our Chinese office, known as Mooney Beijing, can now offer world class flight operations for a wide range of Chinese customers including small to medium size companies.”

Just to add to this sentiment, I had a very peculiar experience today in the communist stronghold known as kalifornia. I grew up in this state and I want nothing more than to move back one day but its hard to picture that actually happening. So, while visiting my parents in the bay area (think elitist liberal), my dad asked me to drop some items off at what used to be the local landfill. One item was an old mattress and the other two were a couple of old toilets. So, I get over to the newly minted "recycling" center to do just that. I attempted to check their website before I left for the costs involved but like any good CA state government supported operation, it was lacking information. It turns out they charge a flat fee of $50 no matter even if you just have a piece of cardboard to drop off. This "mandatory" fee didn't cover the mattress though...stupid me thinking it would...total cost to drop off all items: $65. So, after going through the first gate I make my way over to the actual dumping spot. The "$15/hr minimum wage" type employee then went on to scrutinize my receipt to the T, to include checking my ID to match it to the receipt for a second time. The whole time I was thinking, these same liberals have no problem with someone voting without having to show ID and yet here I am showing my ID to throw away two fucking toilets. This, folks, is the state of our nation. I think the writing is on the wall at this point...we are being destroyed from within.

This discussion is pointless. The U.S. is and has been falling behind in just about every sector for over a decade. It is only a matter of time before much bigger companies also begin moving elsewhere. You can't stop the inevitable when our politicians are busy pitting us against each other and telling us how well the government will take care of us...and the idiot (voting) public believes it. While American kids are failing miserably in math and science when compared to some 3rd world countries, what is even more disturbing is the complete lack of critical thinking ability. Just as it has happened time and time again in human history, money will shift along with power...it is just a matter of time. As easy as it is to hate the chinese or anyone else buying up America, the blame falls on our ignorant voting public.

Gents, I'm looking for recommendations for a paint shop on the east coast. I would like to keep it within about 400 miles of Virginia Beach. My budget is around 8k...not looking for anything fancy. Thanks! Par

I understand all the costs involved. I guess they say what they say about boats, women, and airplanes for a reason. Luckily, being active duty allows me to skip the VA personal property tax and the sales tax is also low to start with so I will actually save some money. I am 100% sure about the C though...I don't think a better aircraft exists for the money.

I will check them out. I am located in VA Beach so KPHF and KJGG are not an option. KPVG is the preferred airport but I will drive a little farther if the savings are justified.

Thanks for the replies. I have more than enough to afford it, otherwise I would not be looking. However, I'm simply trying to inquire about a topic that I am not very knowledgable about at this point. After doing some research last night, the lease option is not something I will be doing. Otherwise, based on some of the responses, it looks like $350/mo is a fair rate for a twin and there is a possibility of sharing the space with someone in the future. I don't have a problem going the cover route either but a hangar will no doubt do a better job. Either way, I appreciate the answers.

Gentlemen, I am in the market for a 20C and I'm trying to figure out where I can house it without busting my budget. This will be my first personal aircraft and I'm still trying to learn all the in and outs of ownership. So with that in mind, I have a couple of question. I am looking for some hangar space at either Hampton Road Exec(PVG), Norfolk (ORF) or Chesapeake Regional. I have already check with Chesapeake Regional and they are asking $350/month for a twin hangar and I can't afford that, nor do I need that much space. I would be willing to share hangar space with someone but I really don't know where to start looking. If anyone has some connections, please let me know. I would like to keep the cost around $200/mo if possible and I do not need anything fancy, just something to keep the plane out of the elements. Additionally, I am not against renting it out to a local club to support some of the maintenance costs but once again, I know nothing about this. Can I get some opinions on the topic from those who may know more? I plan on using the aircraft about once, maybe twice a month for a total of about 5-10 hours. Does it make sense to keep it flying rather than just collect dust? Thanks!

Well, I have come across some information and my initial suspicions are unfortunately correct…it's too good to be true. Fortunately there are plenty more on sale so I guess I will keep looking. Thanks once again. Par

I'm thinking about looking into this J: http://www.barnstormers.com/ad_detail.php?ID=831646 I have not chatted with the owner yet but this J does have a history of electrical issues and several gear issues to include 2 gear up landings. The only details I have right now are what you see in the ad but based on that, what is your initial impression? I think given its history, it is overpriced by at least 5K. Par

Wow...you guys respond quickly and ferociously. I like it! I am perfectly content with the available load carrying capabilities. I will mostly be using it for 200-300 mile trips up to NY with myself and my wife on board. The extra room is for the family tours. I also agree with you guys about purchasing an A/C with a GPS already installed...especially after talking to a friend about the costs involved for an aftermarket install. I think it makes more sense to include the additional cost in the initial purchase price than to worry about paying as much as you would for a car out of pocket. With this in mind, i'm leaning away from the J I referred to earlier. So, here is another question. What is the professional opinion on a J that has many of the options I want already installed but it's an aircraft that has had two gear ups and a main gear collapse on landing. It is priced well considering what the cockpit includes but I don't know how to determine my offer price based on the aircraft history. On that thought, is there a KBB equivalent for airplanes? Keep the advice coming...I appreciate it all.

Hello, I'm looking to purchase a good 4 seater and after some thinking, the J makes a lot of sense. However, before I take the dive, I have a few questions for those of you who have done this before me. My flying background is all military time, 800hrs worth...in the T-34/T-45/Harrier. Given my background, what should I expect to pay for insurance? Also, being somewhat mechanically inclined, what sort of annual costs can I expect to pay if I can find a mechanical that will let me do some of the work? I understand both these question have some variables but i'm just looking for ballpark figures. I am also looking at a particular J model located in Los Angeles area and I could use a recommendation for a pre check inspection. I would prefer someone who has some experience with Mooney's, if at all possible. And for my final question for now, how much does it cost to add something like a Garmin 430 in an airplane full of steam gauges? I appreciate the help. Par