nm3868 Posted March 26, 2018 Report Posted March 26, 2018 Looking to lease a Mooney M20 vintage model in San Diego for a minimum of 100 hours. Looking for a 1 year lease, doesn't have to be exclusive use, wouldn't mind sharing I just want to have the opportunity to have such a capable cross country machine. My qualifications: ASEL VFR only, 130 hours TT. I will be getting my IFR ticket this summer. I would also be willing to do a complex endorsement/checkout with owner and/or I would get a complex endorsement on my own prior to leasing aircraft. Thank you all for your time. Quote
thinwing Posted March 26, 2018 Report Posted March 26, 2018 I'm guessing it would be cheaper to purchase and sell after the 100 hrs or year was up than lease the 100 hrs.Since you are low time non IFR rated ,insurance for the year is same as ownership,you will have to factor in the annual cost ,as owner at completion of 100 hrs/year would likely put it through an extensive annual that would end up in the lease contract.Maybe you can find someone with a hanger queen ,who is not flying very much ,and wants to recoup fixed expenses,but those deals typically go to pilots with thousands of hours.Good luck with your search Quote
kortopates Posted March 26, 2018 Report Posted March 26, 2018 I know a guy, a J owner, that rents his J to another pilot. But with your low time and no IR you'll probably have to pay a hefty insurance premium to get added as a named insured. Then do transition training with me. Interested? If so PM me. I'll get back to you end of the week as I am out of town. The Mooney is based at KMYF.Sent from my iPhone using Tapatalk Quote
SantosDumont Posted March 26, 2018 Report Posted March 26, 2018 Is leasing a piston aircraft a thing? What is the benefit to a lease vs renting? Just to have a pre-negotiated fixed cost rental rate? Quote
kortopates Posted March 27, 2018 Report Posted March 27, 2018 Is leasing a piston aircraft a thing? What is the benefit to a lease vs renting? Just to have a pre-negotiated fixed cost rental rate? I think leasing is unheard of. Non-equity partners and renters are all I ever hear of and that is quite rare.Sent from my iPhone using Tapatalk Quote
MB65E Posted March 27, 2018 Report Posted March 27, 2018 I don’t fault the effort or question, but you might have a hard time. The cards are not exactly in anyone’s favor. The agreement wouldn’t be that hard to figure out, the owner would need to figure the insurance thing out but most insurance companies could write the coverage. I do think it would be better to continue building time. Investing in a rental 172 flight time VS paying significant insurance in the M20 might be better. Go for it!! -Matt Quote
nm3868 Posted March 27, 2018 Author Report Posted March 27, 2018 4 hours ago, MB65E said: I don’t fault the effort or question, but you might have a hard time. The cards are not exactly in anyone’s favor. The agreement wouldn’t be that hard to figure out, the owner would need to figure the insurance thing out but most insurance companies could write the coverage. I do think it would be better to continue building time. Investing in a rental 172 flight time VS paying significant insurance in the M20 might be better. Go for it!! -Matt Actually the insurance I was quoted a while back wasn't too terrible for a Mooney when I was having it quoted as a 70 hour private pilot, about 1100 a year, Also I am planning on having my instrument rating done via an accelerated instrument program in July or August. I am more or less looking for a fast efficient cross country aircraft to take up to Lake Tahoe, Vegas and what not with some friends over the next year. Plus I have had a love affair with the Mooney for a while and would love to get to fly one! Quote
Niko182 Posted March 27, 2018 Report Posted March 27, 2018 22 hours ago, nm3868 said: Looking to lease a Mooney M20 vintage model in San Diego for a minimum of 100 hours. Looking for a 1 year lease, doesn't have to be exclusive use, wouldn't mind sharing I just want to have the opportunity to have such a capable cross country machine. My qualifications: ASEL VFR only, 130 hours TT. I will be getting my IFR ticket this summer. I would also be willing to do a complex endorsement/checkout with owner and/or I would get a complex endorsement on my own prior to leasing aircraft. Thank you all for your time. http://www.pinnacleacademy.com/rates/ Not a lease but a rental located in sd. Quote
LANCECASPER Posted March 29, 2018 Report Posted March 29, 2018 On 3/27/2018 at 4:38 AM, Niko182 said: http://www.pinnacleacademy.com/rates/ Not a lease but a rental located in sd. $189 per hour to rent a J is not as bad as I thought it would be. Quote
amillet Posted March 29, 2018 Report Posted March 29, 2018 On 3/26/2018 at 1:18 PM, thinwing said: I'm guessing it would be cheaper to purchase and sell after the 100 hrs or year was up than lease the 100 hrs.Since you are low time non IFR rated ,insurance for the year is same as ownership,you will have to factor in the annual cost ,as owner at completion of 100 hrs/year would likely put it through an extensive annual that would end up in the lease contract.Maybe you can find someone with a hanger queen ,who is not flying very much ,and wants to recoup fixed expenses,but those deals typically go to pilots with thousands of hours.Good luck with your search Sales tax? Quote
thinwing Posted March 29, 2018 Report Posted March 29, 2018 On 3/26/2018 at 6:50 PM, kortopates said: I think leasing is unheard of. Non-equity partners and renters are all I ever hear of and that is quite rare. Sent from my iPhone using Tapatalk It is quite rare...leases for jets and helicopters is what I've seen...I think what 3868 is trying to do is get an exclusive 100 block of time ( or even a non exclusive block shared with owner)The above J rents for 210 / hr or 21k for the nonexclusive rental cost.If he could find an owner willing to rent or lease ,I'm betting it would be more.That additional rate is for a nicer J than pinnacles bare bones ,pretty beat up J and having instant availability.Paul..how many hours do you think your owner would require in additional training with you . Quote
carusoam Posted March 29, 2018 Report Posted March 29, 2018 Looking at the options... 1) there are a few Mooneys around the country that can be rented. 2) somebody gave a number for around $200 per hour, probably need to add fuel to that.., 3) Insurance is always a challenge for new pilots in retractable planes. Expect 2amu - 3amu for the year... 4) Expect needing 10hours of Transition Training to be required by the insurance company. Suggestions... 5) Using the words ‘block time’ is the way to rent a plane and get a discount for renting the same plane for many hours... 6) Call The Insurance Company to get a quote for what you want to do. Verify the number of hours of training required. 7) Consider using a Mooney CFI to do the transition training in his plane, before you buy insurance. This gets you some valuable experience that may drop 1amu of the 3amu insurance cost....aviation insurance pricing is based on who you are today. A year from now, your risks decline.... You are on the right track to fly around the country! PP thoughts only, not an insurance guy or CFI... Best regards, -a- Quote
AH-1 Cobra Pilot Posted March 29, 2018 Report Posted March 29, 2018 I had tried to rent a plane, any plane, in San Diego in the latter 1980s. I had already found insurance coverage for such, and it was not too expensive. My ratings were much more extensive, and the only people who called me either wanted to sell me a share in their plane, or wondering if I had had any luck in my search, as they wanted to do the same. I eventually bought a 1/3 share in a Cessna P-172. I do not remember how many hours I flew it, but I sold my share for the same price about one year later. Quote
thinwing Posted March 29, 2018 Report Posted March 29, 2018 Yeah I've seen partnerships work ok,or even club situations....I think for insurance purposes ,over 4 owners defines a "club".There is a piper Dakota across from me that has about 10 members.I talked to one of them and it seems only 2 or 3 fly regularly.The best deal I guess would find a club Mooney with only a few active flyers. Quote
nm3868 Posted March 30, 2018 Author Report Posted March 30, 2018 16 hours ago, carusoam said: Looking at the options... 1) there are a few Mooneys around the country that can be rented. 2) somebody gave a number for around $200 per hour, probably need to add fuel to that.., 3) Insurance is always a challenge for new pilots in retractable planes. Expect 2amu - 3amu for the year... 4) Expect needing 10hours of Transition Training to be required by the insurance company. Suggestions... 5) Using the words ‘block time’ is the way to rent a plane and get a discount for renting the same plane for many hours... 6) Call The Insurance Company to get a quote for what you want to do. Verify the number of hours of training required. 7) Consider using a Mooney CFI to do the transition training in his plane, before you buy insurance. This gets you some valuable experience that may drop 1amu of the 3amu insurance cost....aviation insurance pricing is based on who you are today. A year from now, your risks decline.... You are on the right track to fly around the country! PP thoughts only, not an insurance guy or CFI... Best regards, -a- I guess block time is pretty much what im looking for. Thanks everyone for the suggestions. Kortopates I sent you a message! Quote
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