carusoam

Something to consider... Keep your powder dry. You may consider making your extra payment to your savings account. You never know how to best use this cash. I agree, paying down the "high interest" loan is a good idea. I believe you may also want to consider keeping the flexibility prior to signing on with the new lender. Depends on whether you may need the excess cash for something else....Suze Orman will agree, paying down your higher interest debt is always the best idea..... I used Bank of America to finance my M20R originally. One person (looking to purchase a plane) had complained that they required too much down payment. It may have been up to 15% of the sales price at the time. BofA was very profesional and can easily give you a quote and tell you what you need for downpayment (or equity). Their agreement is not perfectly plain english, but you can read each paragraph and understand what it represents. They can call back their loan if they want to...Expect that they use Vref (or similar) as their source of plane value. You may also consider supplying your own prepared statement of what the plane is worth. This will be important, since the 15% (down or equity) has to be based on some agreed total value specific to your plane. As far as interest rates increasing... Watch Ben Bernanke at the Federal Reserve. When the FED raises the overnight lending rate, the aircraft loans will also increase. until then, the aircraft loans will be market driven, but will still be tied to this (currently low) base rate. As of this week the FED quarterly meeting indicated no increase in interest rate for a while. As you may know, the FED controls interest rate based on theory of inflation vs. economic growth. As long as the unemployment level is as high as it is (9.4%), our government will try to stimulate the economy until inflation becomes a problem. History has shown interest rates have gone up .5% per quarter for a couple of years in a row until the economy is stifled again. You will want to have your loan in place before you see unemployment drop, housing sales increase and the stock market making new highs. Once your long term loan is in place, inflation can be a good thing. Best regards, -a-

65M20C - 2,400 rpm (2,500 more vibration, 2,350 yellow arc) favorite altitudes: 11,500 - 12,500 ROP only (unable LOP) 94M20R - 2,500 rpm (max rpm available to unmodified Ovation 1) favorite altitudes: 11 - 12,500 (Peak, LOP or ROP) Best regards, -a-

716, KD and Reese seem to be related at N87 (web check). Reese is well known for excellent paint work on the east coast. I believe Reese painted a Mooney for AOPA sweepstake plane (5 or 7 years ago). Reese also painted my M20R about the same time frame. There is a core of Mooney experience at Essex County (Fairfield, NJ). Somebody on the Forum has recommended them, including contact name and information (try a search). Best regards, -a-

A 24v system has some nice weight saving advantages and stronger electric motors. They make good sense when designing a plane fresh, building from scratch or a complete overhaul / rebuild. I will go out on a limb and say that a 24v system has never been retrofitted to a 12v Mooney. It is possible, just not practical, with nearly insignificant advantages. Money would be better spent buying a different mooney with the 24v system in place already. There is always a few guys who love their Moonies so much it deserves every upgrade out there. Go ahead and speak up...... flame suit on... Best regards, -a-

Leesh, Having a reliable temperature indicator is a flight safety "requirement" for flying in the NE this time of year...... Requirement, meaning if you are experiencing icing (freezing rain), you would really want to know if you have escaped those conditions or are they getting worse....? It is also an important tool for density altitude calculations, hot summer, short runway, full load, will I get off the ground or should I wait till later calculation? I think the rest may be just convenience. A digital read-out is the best way. You want to glance at the gauge and know what it is reading. You don't want to have to stare at it and take a statistical sampling and average the input to get a result. The windshield mounted mechanical device is lowest cost, but vibration and placement makes it incredibly difficult to read accurately. If you decide to go this way, an A&P with experience and tools for drilling in acryllic windows is the lowest cost way to go. A simple mistake drilling the hole in the windshield could cost a fortune. It is incredibly easy to make a mistake while drilling acrylic......... I always use my thermometer to determine whether or not I need pre-heat to start the engine. My M20C would start pretty reliably above 28 dF. A study of other links will provide information on where to locate the thermocouple, out of the sun and away from exhaust streams = under a wing and on an access panel. Best regards, -a-

Sorry all for robbing the thread space.... Luc, I prefer the dark, but not that choosey...Next scheduled visit is April time frame. I typically fly (commercial of course) into Zaventum, live in Antwerp for a week and commute to Heist. I would enjoy making a visit to see a European Mooniac. Best regards, -a-

Luc and Jim, Make mine a Leffe. Mechelen is a beautiful small city. I get the opportunity to drive through on my way to Heist-op-den-berg a few times each year... I don't go anywhere without Mrs. Garmin as my copilot.... Best regards, -a-

Tony, It is indeed a good time to be buying. However, you are going to need to describe your typical mission if you expect to get usable responses. There are a few models that cross the magical $100k boundary and there are several answers to your question. What do you use your plane for? How many people travel with you? Typical distance you expect to fly? Do you expect to fly IFR or are local VFR flights your only expectation? mountains of flats? etc..etc.. etc.. Best regards and welcome to the Mooney world..... -a-

Has anyone installed the synthetic vision? http://www.youtube.com/watch?v=I-GHHn2WZsc Too new? Not needed? Parlor trick? I would think it is extremely difficult to experience CFIT if you have a picture of a red mountain show up in your scan. Any thoughts? Best regards, -a-

For pictures and other real life examples..... http://www.mooneyspace.com/index.cfm?mainaction=posts&forumid=2&threadid=1242 Kevin, Thanks for joining us here at MooneySpace. Best regards, -a-

Not that I was bored..... I just can't pass on the opportunity to watch great Mooney videos.... The landing sequence at KOSH would be a great review prior to visiting AirVenture. It was the same approach we used in 2010 with the long taxi all the way to the North 40.

"Is anybody even paying attention to this?" - Danb35 Dan and Kendal, Frustrated? Send requests, recommendations and extra resources to Craig. You can find him pretty much at the top of the members list. He does listen. He IS busy.... I had a short email exchange with him last week. He is hopeful to work on some updates...this year? DanB, You live here, Do you have over 200 posts on the other free sites? Please keep in mind that MooneySpace is an incredible resource you cannot find anywhere else. It is free, it has no advertisements, it has no moderator, as such it has no support. If it were to dissapear overnight there would be many dissapointed Mooney enthusiasts. I understand your dissapointment. Let's aim our collective creativity, if we can, towards Craig to see if we can some-how get the resources required to support the developments and fixes you have in mind. Long known and accpeted issues: Login identity issue, classifieds, spell check, cut and paste from outside sources, mislabeled buttons, picture support, different browsers, the list goes on.... In the meantime, I am happy to have met you and shared our common knowlege with you and others such as..People from the Mooney plant, Electronics International, Aspen Electronics, Halo, mechanics, builders, paint shops, MSCs, Professional pilots, engineers, lawyers, instructors, doctors, early adopters, classic keepers, Ambassadors, beginners and experienced alike... Just wanted to share my thoughts. MooneySpace is a gift horse.... Best regards, -a-

RogerL, Have you had contact with Peter Lyons...? (cofounder Aspen) http://www.mooneyspace.com/index.cfm?mainaction=memberdetails&member=2902 He seams to be a good first line of Offense for Aspen. Hopefully you will identify and resolve the issues quickly. Does the PFD battery back-up indicate how much the battery is charged? or when it is operating on the battery as a power source? It sounds like the power supply or ground becomes loose / disconnected. Comes alive when power is restored, dies when power and battery run down. Best regards, -a-

Jelswick, How many lateral g(s) does it take for the Ipad to go from portrait to landscape? The switch on the side of the Ipad next to the volume buttons used to lock out the rotation. In the latest operating software upgrade, that switch was turned into a mute switch. I put some news videos on my ipad one day for a long commute to a distant office. I was interested in the sound portion of the podcast, but i noticed under the load caused by sharp turns, that the picture was rotating. If you get that much side load in the Mooney, you won't need the Ipad for a g meter.... best regards, -a-

Impressive link...The Nasa system is about collecting data from pilots who openly admit that they may have made a mistake. [1] Guy admits to using tool for primary navigation and recomends not using it for primary navigation. I disagree with his first intention, but fully agree with his recommendation. [2] Guy (electrical engineer) admits to leaving Ipad in direct sunshine. It shuts down quickly. Well, I guess we all know that now. [3] Guy misuses the system altogether and busts through controlled airspace. He did not program a waypoint to avoid the airspace that was obviously displayed on his IPad. I think it is best we keep sharing our own positive and negative experiences. The title of this thread probably makes it an ideal place to do so. If we experience real difficulties related to the hardware/software combination, it will be great to share. Best regards, -a-

"I think you can still get busted for carrying any outdated chart in your plane" JasonG Is that not an OWT.....? That was true when I started flying, but I think the outdated chart (by a day) is still better than throwing the chart out and going without. I am pretty sure that the FAA put reason over regulation on this one years ago. I can't put my finger on it though.... I have had my Ipad at 12,000 ft. No issues. Best regards, -a-

IB, Well done. When you work it right, she will be asking you to ge a Mooney! Somewhere down the line, she is going to ask why you didn't get the Mooney sooner.... Fly safe. I am interested in what you plan for Nashville or whereever... Best regards, -a-

What is it you are looking for? There are several panel screw in type panel lights available from aircraft spruce....Some now with LEDs... Key word is "post light" Keep in mind the dimmability of LED, one other old style incandescent bulb must be in the ciruit also... Best regards, -a- Of course the picture did not come through...... 1. MODEL 70844 SERIES LED POST LIGHT The model 70844 series are LED (Light Emitting Diode) instrument post Light assemblies. They are designed to illuminate the instrument panel, and function as instrument mounting bolts. http://www.aircraftspruce.com/catalog/elpages/70844.php - 1.7kb 11-01215 WHELEN 7084400 1" 14V POST-NUT $31.50 11-01216 WHELEN 70488 LED LIGHT 14V $31.50 11-01217 WHELEN 7084402 1" LED POST-NUT $31.50 11-01218 WHELEN 7084403 LED POS LGT 28V $31.50 11-07775 WHELEN LIGHT HOOD $0.48

Mark, I like this question because I buy and sell machinery professionally. I have been as far as Holland to help broker a machine. The customer travelled from Mexico and agreed to buy a used machine after it ran for about 15 minutes. He was very familiar with the machinery he was buying. The machinery was well represented/described. Everything worked as advertised. He bought it for about $200,000. It took 4 days to travel that far and back. Similar story for mooneys... [1] Travel with intent to purchase. Unless this is an excuse to travel, it is expensive otherwise. [2] Be prepared to walk away. This becomes incredibly difficult when far away from home and bleading cash to stay longer to get the job done right. [3] Be prepared. 30 photos of a plane will help you be prepared. 3 photos doesn't do it justice. [4] Read the logs before commit to spending money on airfare. Most airframe, engine and prop weirdness is documented in the logs. It will also give you a feeling for how well kept the machine is and where it has been. [5] Machines in top condition are easy to understand what is being represented. Any flaws are easily described by their owners. Machines that are given ratings in the middle of a scale from 1 - 10 can lead to dissapointment from 20 feet away. [6] Machines being sold by a dealer are more reliable to schedule. Private owners have work schedules and may be unable to allow to fly from the left seat. Some private owners can be outright flakey when it comes time to sell their beloved machines. [7] I bought my first Mooney at my home drome. My second was from TX. [8] Many phone calls and emails should be exchanged prior to going to visit. You may want to at least negotiate a first right of refusal. It would be a bummer to spend vacation money to go visit a plane and have it sold to someone else before you could finish your decisions. [9] Expect a second visit. First visit is to identify if the machine is everything you expected. The second visit is to test fly / accept and purchase the plane. A healthy PPI belongs in between. [10] Each of the two visits may take days to travel back and forth and a full day in between. Expect travel delays, even when you have hired experience professional help. It took me four days for the second trip. The last delay was caused by a field closure after unexpected runway over-run by an RJ while I stopped for fuel. [11] The Pineville mooney has many of the right aspects that make it worth visiting. It seems to be kept in top physical condition. The owner should be able to support that condition and describe anything that is not quite up to par. I will be out in Bend OR in the next couple of weeks. Let me know if Pineville is anywhere near Bend. I should stop in at PreciseFlight and EI while I'm out there... Best regards, -a-

Mike and I hit the same topic within a minute of each other.... I think Mikes A/C interest rate (7%) better reflects reality than the one I quoted (6%).... -a-

Somebody did a complete diatribe on this topic in MooneySpace, but I am unable to find it..... Short answer. You can do a lot by yourself (as indicated above). The rest you can do with a good relationship with an A&P. If you do anymore than that, than you will become an A&P yourself. It all starts with your first owner assisted Pre-Purchase Inspection. Bring your powered screw driver with torque limiting clutch and new bits, don't forget cleaning supplies. You immediately have the opportunity to open 200 screws holding inspection panels in place and cleaning out a fair amount of grime! Best regards, -a-

Memphis vs. Nashville....My travel club is trying to decide where to next.....I think we are waiting for it to warm up first. Anyone have insight to flying and visiting these hot spots? -a-

ehscott, True - the interest slope is tilted to the early payments. I clearly understand the dissappointment now... Mitch, it is definitely in the fine print section, but not too difficult to understand. What is unfair, is that ehscott will enter a new agreement with a lender and start making payments that are biased toward paying down interest first and then capital. Even with a new aviation loan, the terms are usually no shorter than 15 years. The early payments are high in interest and low in capital. Even paying it off at a high rate puts an undue amount of interest up front. Sounds like it might be a good idea to seek legal / financial counsel. It sounds like you may have paid "too much" interest and you should seek getting the too much part back. At least know the best way to mitigate this interest situation. Also consider if a home loan would be more in line with your financial requirements. Home loans have much lower interest rates 4 vs 6 % and have better consumer protection. Of course, you have to have equity in your home to borrow against. Financial risk: you lose your home, but not your plane. Somebody did say you can sleep in your plane, but you can't fly your home...... Keep in mind this is amateur financial suggestions. You know I am not a finance expert. Best regards, -a-

time for an update.... Anyone want to start?

Check you loan papers.... They probably include the statement that they can recall the loan when and if the want or need to.........etc. Aircraft loans have very few of the consumer protections that home loans have. Regulations seem to be there to protect the banking institution. Next Steps: It seems proper to search for a new loan to pay off the old one. Fortunately rates are low at this time. With your payments in place and down payment already made, you will most likely be in a low risk category. AOPA and Bank of America are a good place to start. A search of MooneySpace for other financial institution recommendations would make sense also. Best regards, -a-