Hi everyone. Long time listener, first time caller.
Short intro: I am a student pilot, about 30 hrs in - well past solo, etc - purchasing a M20F. Now, I know some have their opinions about not having a billion hours and flying a Mooney so I hope this thread doesn't take a dive in that direction. My CFI is a Mooney pro and I will have to spend 20 hours with him due to insurance requirements anyway. A Mooney is what I've always wanted and I figured, why waste any more $ on renting a plane for training when I can train with a CFI that flies Mooney's in the aircraft that I plan to own for many years to come. I digress;
My question to all you Mooney pro's is:
My banker has structured my loan in such a way that instead of putting a down payment on the loan, he wants me to put $3k in a savings account that I must use on "an upgrade" in the first year. Pretty cool, right? . Anyway, this aircraft is very original and the only "upgrades" I can find is a Bendix KX125 and a handheld GPS with in-panel dock. Everything else is stock and per the pre-buy, works as it should.
My initial thought is to go with an engine monitor like the EI CGR-30P which has a $700 rebate right now, making it about $2,000. With install I figure that is around $3k, maybe a bit more. The engine is high/mid time with strong compressions, however I would think being able to closely monitor that thing is flight would be a benefit.
What I would like feedback on is, what was your first "upgrade" to your first plane? Also, what upgrades do you think a new pilot would benefit from more than others? Do you think I'm better off getting new radios?
I appreciate all the feedback and I look forward to the time I will be able to contribute on this forum. Happy flying!
Hi everyone. Wow, thanks for all the responses. I've enjoyed reading them and look forward to any more that come my way. It does seem like the engine monitor is the way to go as far as a panel upgrade is concerned. This money is supposed to be used for something considered to be an 'upgrade' to the aircraft, so technically I can't use it for something considered maintenance, if that makes sense. I have indeed considered the shoulder harness upgrade for the front seats. I've only been able to find one manufacturer, Alpha Aviation, that sells them. Are there other sources to obtain these parts? I know everything in aviation is expensive but $500 per seat belt seems high to me (but maybe it isn't?). I don't mind putting in the work to assist installing items to save some cash. I am actually looking forward to my first (owner assisted) annual to really get to know my plane. Let's just say I hope the comment about a $10k annual isn't something that is a rule of thumb. It just went through an extensive pre-buy and I would be disappointed if that many items came up right off that bat. That said, again, everything in aviation is expensive!