Coolshot
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Lancecasper: yes thats what I am reading. So like real-estate, its about how well you buy. If you think of a plane as a store of value, the older it is the less depreciating of an asset it is. (so for example, I will be able to sell my 2005 Mooney for about what I paid for it last year) Currently the cost of money is relatively low compared to the returns in the market. Depreciation would have some tax benefits. So by my figuring, after all costs, cost of money, loss of value on sale etc.: The annual cost delta between my Mooney and and a late-model Mirage, on the sale of the Mirage, would be $48K/year over a two year period. Past 2 years, the economics become more favorable as the Mirage depreciates even less.
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Yes she does Mike - but my hours dont get me there at a reasonable cost (not that the above is reasonable!)? Perhaps I will just stick with my wonderful Ovation 3GX!
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Several!!! But its about the fun of flying (I think). I think all rational thought is out of the window!
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Thanks for the cost info. My hangar rent will be going up by about $750/mo! I do have a GFC 700 in my Mooney and the PA-46 I will buy will have the same. I love my GFC 700. I am expecting about $1,360/hour for a 100 hour/year use; so $136000/year is my figuring with insurance, fuel, annual, general maintenance recurrent training, financing costs/cost of money and hangar. A whopping amount - makes you stop and think! $118.5K of this is fixed with zero hours!!! On an Apples to Apples basis (again factoring in cost of money and all those things, my Mooney costs $57K/year. So the PA 46 is about 2.4X!!!
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You guys are funny. Thank you for your responses. Firstly, I am considering a Mirage (turbo), not a Meridian (turbine). BradB, since I cant swing it, I will be sure not to fly in someones Meridian or TBM. But if I do close on the deal, will be sure to let all of you know my views on Mooney vs Mirage. Carusoam: 25 years of Mooney, I dont plan to get off this space. Flew in a friends Mirage last week. Really cool. Lots of room. In the back, you dont need headsets. I didnt check the db level but my doctor friend had a baby he was flying without headsets (and a couple of dogs) and a toddler - and the plane is quiet, the A/C is cool and the plane gets going nicely at flight levels. Someone did mention that getting into the plane is really easy but getting to the pilot and co-pilots seats is certainly a pain. Its a tight squeeze. But just like the Mooney, once you get the hang of the technique, I found it to be easy. Thanks for all the advice folks...
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I have been a Mooney pilot and owner for about 25 years: first with an E model (remember the Johnson bar), then a J model and now a gorgeous 2005 Ovation 3GX - immaculately maintained (used to be Lee Trotter's plane which I bought from Lee last year). My mission has recently changed and I find that I need more altitude to get above the weather, need pressurization and real-time radar. I am therefore considering a Mirage. Any Mooney owners who have moved from a Mirage to a Mooney who can tell me what it would be to move to a Mirage? Also, I will be selling my Ovation, so if you know someone who will take special care of a special plane, let me know. I have learnt a lot from this community and will miss you guys!!! Stay well.
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Hi - Just bought a brand new (to me) Ovation 3GX. My plane is currently based in KHFD (Hartford), and I live nearby. I could "host" the group here. I hear the restaurant is really good and see a lot of fly-ins for breakfast/lunch. Weekends are ideal, though I could pull off an evening later this coming week. [I could pull my plane out of the hangar for the fly-in!!!, though, technically I flew in from Charlotte this week].
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Ya will post photos this week - lot going on!!! Will be based, combination of KSVH, KCLT and for a very short time KHFD
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Just did carusoam. Thanks!
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Hi - quick update to the group: Yesterday I closed on a M20R 3GX - N10469, belonging to one of us on this forum. There are too many of you here to thank with an individual call-out - it will be just a listing of everyone who helped me on this forum or through a personal message. It all stated with one of you flying all the way to KHFD to take me up on an introductory flight in an Ovation and he allowed me to handle the controls - that kind of nailed it for me, that I was going in for an Ovation. Then all the counsel and phenomenal guidance. One of you offered to transport me, one of you has spent countless upon countless hours upon count days, upon countless weeks.... (did I say countless) working with me on the first, then the second and now the "third time's a charm" deal that I closed yesterday. For the sake of anonymity I wont go into specifics, but needless to say, without this hand-holding, I would have never closed. - thank you and I value you (two) as a friend! And then the seller - what a gentleman! Struck a deal verbally, flew the plane down to my location the next day, gave me the keys, trudged to a FedEx location from "small town USA" shipped the documents and walked away. What a joy to do business with people like this! Oh yes - Lynn Mace at AGL Aviation at KMRN is absolutely phenomenal. Worked with me patiently every step of the way, tolerated and actually supported my inquisitiveness, honest, above-board and thoroughly and supremely competent. Meticulous and knows his stuff inside and out. Probably most importantly, he, his wife Tamara, and his team know Mooneys and the team are just wonderful southern folk. Guys, if you need a MSC among the best, doesn't get better than Lynn. Tell him I sent you and you just might get some extra "lovin"... There is also a great Avionics shop at Foothills airport (Robbie) who is also very competent and Ken at Triad is a great prop shop. I begin my transition training with one on the forum on Tuesday. I have developed deep friendships with some on the forum and fully expect to expand that group of friends to many more. Guys and gals - I will forever be indebted to you. - All my best, Coolshot.
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What terrific counsel from this group. I have been taking it in - have spoken with a couple of you and plan to speak with a couple of others soon. I am progressing in my pursuit and will keep you guys posted!!!! Many thanks for the counsel and all the offers to help. Already starting to feel a part of the community!
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I am compiling a cost/purchase sheet with all the items. When done, happy to share if it helps someone else.
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This is a terrific community! You guys are all so helpful. Thanks sgrooves (will check out AGL). Thanks Hank and Oldguy. StevenL757: I replied - LMK when.
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That's helpful Jeff_S. Thanks.
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Gsengle: Yes; looking at post 2005 Ovations with a G1000. Post 2008s have WAAS. My budget is ~$300K. NEVER used a G1000 (I am use to steam gauges) so I know I will need 5-10 hours of G1000 training and also Ovation training. I am ultra conservative.
