Hi, everyone. I've been looking for several months for just the right plane and getting all my ducks in a row and am ready to buy. I've got a couple of planes that I'm negotiating on already but thought someone here in Mooneyspace may have or know of a plane for sale that isn't listed anywhere yet. If you do, please PM me or reply to the thread.
The Cessna 172's I've been renting just aren't cutting it any more, so as the topic says I want to buy an Mooney. After looking at my budget and mission, I think that a well equipped E series is the plane I need. Because I'm expecting to regularly fly 1.5 to 4 hour flights, often IFR, I'm only looking at planes that have a G430 or better and an autopilot. I could buy without those and install them, but as everybody has said, buying with those already installed is a significantly more cost effective decision. For me, almost all other factors only impact the price and while I'm flexible on what the actual cost is, I'm sensitive to the value I'm getting. In other words, I can spend more or less, but the plane has to be worth it. Things like engine time and paint and interior are not requirements, but I know what it costs to get them done and will expect to pay appropriate to their status.
Some of the things I've done/read/considered are:
Been using AOPA's VREF (http://www.aopa.org/members/vref/), which I think tends to underprice these planes, and Jimmy Garrison's Valuator. (http://www.vintagemooneygroup.com/M20EValuation.html)
Become familiar with many of the Mooney specific things I need to check in a pre-purchase inspection and have a good list of things to include, including LASAR's pre-buy guide and am expecting to spend about $1,500 to $2,000 on it. ( I don't think I can really justify a full annual as a pre-purchase inspection, although DaveL's recent experience (http://mooneyspace.com/topic/11834-just-learned-my-c-is-junk/) makes me nervous. I live in the Pacific Northwest like he does, so his experience is very applicable.
Read everything on this thread here on mooneyspace: http://mooneyspace.com/topic/8-prospective-vintage-mooney-buyers/?fromsearch=1
Read what Aviation Consumer has to say: http://www.aviationconsumer.com/issues/36_7/usedaircraftguide/5572-1.html
Been a member of MAPA for several months and been following along their e-mails and looking at current and past publications.
Talked to several Mooney owners and have flown in a couple of them already.
Have some experience (about 150 hours) in equally fast or faster aircraft and my instrument and commercial tickets, so I'll be OK keeping up with the plane.
Have an instructor available that can teach in either his M20C or mine when I get it.
Am on the wait list to get a local hangar.
Read Ron Wanttaja's book "Airplane Ownership" (http://www.amazon.com/Airplane-Ownership-Ron-Wanttaja/dp/007145974X)
Used many websites to find planes for sale:
http://www.globalplanesearch.com/
http://www.trade-a-plane.com/
http://www.controller.com/Default.aspx
http://www.aso.com/
http://www.aerotrader.com/
http://www.aircraftdealer.com/
http://www.barnstormers.com/
http://www.airplanemart.com/
http://www.lasar.com/
And of course regular google.
If anyone knows of anything else I should do in preparation for purchasing a vintage Mooney, I'd be glad to hear it!
Clay Chase
