Dear Mooney enthusiasts,
I am currently a pilot with about 175 hours and close to finishing his instrument rating (already have high perf and complex). I currently own a 1974 180HP piper warrior, that I love and has served me wonderfully, but I am ready to start thinking about something that can do better cross country time and fuel efficiency.
After much thought, I think a Mooney M20J/K is probably the plane that would suit me best. If the group wouldn't mind, I have a few questions that I would like some advice on;
1) Times: I am getting bored with the warrior and feel ready to upgrade, but am I moving too quickly going to an M20J with the number of hours and ratings that I have?
2) Price: Currently, the value of my plane is about $45K. I can put in another $15K cash when I upgrade, but I will need to wait to be able to save up more than that. Can I afford a decent M20J at that value?
3) Do people agree the M20J is the right plane, and how much better is it than the earlier models? Most of the reviews I read seemed to think there was a solid difference, which is why I settled on the J version as the oldest.
3) Can people tell me how accurate the VREF values are for Mooneys? I have seen quite a few Mooneys for sale that are below VREF but still are not getting offers. Is it something with their planes or are the vref values too high?
Thank you very much for your time!