Buying a Used Mooney M20R

[Marcopolo]

Morning Coolshot,

 

  Welcome to the group, I live in Mooresville NC just south of Statesville (KSVH) and I am at the field 5-6 times a month.  I also frequent Foothills (KMRN) where, as Sgrooves mentioned, AGL Aviation (MSC) is located.  If I can be of any assistance with transportation or any other travel or maintanence logistics, please feel free to reach out.

 

Ron

[mike_elliott]

On 3/24/2017 at 3:22 PM, Oldguy said:

FYI. Apparently Richard has moved out west to the Phoenix area, from what I hear.

Yes, he now works for Delta Aviation selling Mooneys out west. Lee Drumheller is still in Alabama working for Premier, Both will have a lot of nice Mooney's to show you. Both keep me hopping doing transition training for them. Coolshot, if you get a chance to go to SNF, Lee will be there, or if you want either's contact info, shoot me a PM. Keep me in mind for your transition training when the time comes.

 

[AH-1 Cobra Pilot]

Whoops!  Looks like you just missed this one:  http://flyperformance.com/aircraft/2006-mooney-m20r-n615px/

I would have even offered to fly it to you.

Edited March 28, 2017 by Ah-1 Cobra Pilot
added info

[DAVIDWH]

For the what's it worth dept.

When I purchased my Ovation in Cleveland, I avoided all state and local sales tax

by registering as an LLC in a Delaware corp. Keep in mind the FAA is still going to 

notify state and local taxing authorities of your purchase.

1-800-345-2677 for more info.

Your call,

Enjoy

[Ben E.]

To add to the "for what it's worth department," use tax is what you have to think about generally.  States charge this when they can't collect sales tax.  I fly out of NJ now, but will not base my plane there when I get my own because they charge a use tax that's 6.875%.  New York is actually the tax friendly state in this case surprisingly and exempts general aviation planes from the use tax.  In general, use taxation is based on where the plane is kept, not where the owner lives.

One of my best friends is a NJ state tax attorney and used to work in tax policy for NJ treasury.  He says the state sends inspectors to the airports to check tail numbers against the tax records.  Apparently that's common in other states as well.

My understanding is that after approximately 2 years for most states, you can move the plane to another state without paying the use tax.  Keep in mind, if you transfer the plane from a corporation/LLC to yourself individually for some reason in the future then this would be a taxable transaction.

Here's a good overview of these issues: http://www.lexology.com/library/detail.aspx?g=7e81f81e-5582-47ba-94fe-62d7129b4c50

 

 

[carusoam]

NJ has the state sales tax, but no annual use tax.  A nice place to own cars and planes...

Definitely seek professional advice regarding taxes. they can be a bit complex to determine the real amount you owe.  And when you get a bill that belongs to the previous owner you have somebody to answer your question...

Really, the plane was no longer in the Arizona area, the owner name had changed at least once,  but the collectors were on a mission to send an incorrect bill to somebody...

Best regards,

-a-

[Ben E.]

Just now, carusoam said:

NJ has the state sales tax, but no annual use tax.  A nice place to own cars and planes...

Are there actually states that charge an annual use tax?  I've only ever seen the one time use tax for sales of things purchased outside the state.

[carusoam]

There is a thread around here that covers all the weird things that various owners get charged.

In MA, I used to pay excise tax on cars.  It is a fancy word for use tax.  It was enough to keep the desire of having multiple vehicles to a minimum...

NJ has a turnpike that costs a mint to travel on.  Try to avoid that when commuting every day...

PP thoughts only, we have some pretty knowledgeable finance and accounts around here too.  Hard to get an answer from them this time of year...  they probably aren't surfing the web tonight...

Best regards,

-a-

Edited March 29, 2017 by carusoam

[ArtVandelay]

NC has personal property tax, about 1%, every year.

[Bob_Belville]

Cool shot:

I'm late to your thread and what's been posted should get you started.

I am based at KMRN (Morganton NC) and am very experienced with AGL Aviation (Lynn & Tamara Mace). Lynn loves Mooneys and has been working on them a long time. He became a MSC last year and has all the tools and rigging boards to properly care for your Mooney. https://www.aglaviation.com/

The Mooney International web site has been updated to celebrate the FAA approval of the Ultras this week and I think the link to the list of Service Centers got dropped but it should be back up soon. There are about 35 MSC in the US including a couple in NE if memory serves. AGL is the only one in NC. http://www.mooney.com/en/Support.html#Serv_support

Two dealers in particular specialize in used Mooneys and should be consulted for the class bird you're seeking:  

Jimmy Garrison is in San Antonio: http://www.allamericanaircraft.com/Default.htm

https://premieraircraftsales.com/

(Richard Simile has been the Mooney sales face for Premier for years. He recently moved from Auburn AL to AZ and is still selling Mooneys. I'm not sure if he's still doing that as Premier. If not I'd say consult all 3.)

[Coolshot]

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!

[Bob_Belville]

2 hours ago, Coolshot said:

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!

I missed Mike's post, yes Richard Simile is now selling Mooneys for Delta Aviation. He has a M20R with TKS and Air. Call him for details: 602-eight eight four-2111 or Richard@deltaaviation.com

[laytonl]

Lynn at MRN is excellent.  Also, John Watts at Compass Aviation in Shelby NC (EHO) is good.  Lee

[Coolshot]

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.

[carusoam]

Any data you can add to your avatar?

Welcome to the O club!

Best regards,

-a-

[Coolshot]

Just did carusoam.  Thanks!

[gsengle]

And we all love photos! Where will she be based?


Sent from my iPhone using Tapatalk

[Coolshot]

Ya will post photos this week - lot going on!!!

Will be based, combination of KSVH, KCLT and for a very short time KHFD

[Bob_Belville]

On ‎5‎/‎6‎/‎2017 at 11:34 AM, Coolshot said:

Hi - quick update to the group:

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.

Great Pirep and thanks for the nice review for my friends at AGL!

Great looking Ovation --- happy flying!

Slight correction, AGL Aviation is at Foothills Regional - KMRN,

"Robbie" is Robbie Greer and his avionics shop is Twin Lakes Avionics at Twin Lakes Airport - 8A7.

And +1 on H&H Prop (div of Triad Aviation - KBUY)

[AGL Aviation]

Thank you for your kind words! It was an absolute pleasure serving you! We're happy you found your baby!  You Mooney owners make AMAZING customers! If you need anything, you know where to reach us!

On ‎5‎/‎6‎/‎2017 at 11:34 AM, Coolshot said:

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.

 

Edited May 9, 2017 by AGL Aviation