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josh019
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josh019 Rookie

josh019

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Hi so I’m new around here and I’m looking to purchase my first plane and I really like the Mooney for my mission/budget. 
 

Anyways I came across one and I was hoping to get some thoughts. 
 

https://www.trade-a-plane.com/search?category_level1=Single+Engine+Piston&make=MOONEY&model=M20C+RANGER&listing_id=2379245&s-type=aircraft

They’re asking $49,000. It seems to be a little higher than other M20’s but it does have a lot of avionic upgrades. They sellers state there is some “Light blue staining” but no smell of fuel and no noticeable drop in fuel quantity. 
 

What would a fair offer be for this? Any other big questions I should ask the seller before moving on?

Thanks for the help!

Josh

BrianWilkins Contributor

BrianWilkins

Posted
Posted

My advice:

Check the VREF value on AOPA's website. That will get you a good ballpark of the value.

Assuming the VREF is in the neighborhood of the asking price (and I'm guessing it will be), get a good pre-buy inspection, preferably from a local A&P who has Mooney experience, but who has NOT worked on that specific aircraft before.  Be sure to have the fuel tanks checked for leaks (common Mooney thing), check the condition and dates on the donuts on the landing gear, check the positive control system (both wing leveling and autopilot functionality) and for any corrosion.  Read the aircraft logbooks carefully and get an idea of how well it has been maintained (are they just doing the minimum required to keep it flying or staying ahead of things and making improvements over time?).  

On the engine, check the logs or any other documentation available for how often they are adding oil.  Just because the compressions look really good, that does not necessarily mean the engine is in good condition.  Trust me, I had to learn all about glazed cylinders recently.  Have the A&P check it with a borescope during prebuy.

Assuming the prebuy, logbook review, etc. turns out ok, I would make sure you have about $10k in the bank to cover any repairs after purchase.  It is not unusual for the first annual to run $10k or even more, with subsequent ones running considerably less.  For some reason, that's just the way it seems to work, so be prepared.

Personally, I would also add in some future expense to upgrade the navigation system, especially if you plan on flying IFR with it.

I'm sure others will have opinions on it, but those are my thoughts based on having bought a Mooney last year.

Good luck!

josh019 Rookie

josh019

Posted
  • Author
Posted

Thanks for all the input. 

Would the “light blue stain” be enough of a factor to offer a lower amount? From what I’ve read it seems a lot of mooneys have some small leaks without it being a big issue. 
 

Thanks again!

Josh

BrianWilkins Contributor

BrianWilkins

Posted
Posted
Just now, josh019 said:

Thanks for all the input. 

Would the “light blue stain” be enough of a factor to offer a lower amount? From what I’ve read it seems a lot of mooneys have some small leaks without it being a big issue. 
 

Thanks again!

Josh

 Yes, unless they can show that there are no leaks.  While you might be willing to live with a slight leak for awhile, if you decide to fix it, it can be very expensive (I think I recall the cost being around $25k to have bladders installed).

  • Like 1
N201MKTurbo Grand Master

N201MKTurbo

Posted
Posted
7 minutes ago, BrianWilkins said:

 Yes, unless they can show that there are no leaks.  While you might be willing to live with a slight leak for awhile, if you decide to fix it, it can be very expensive (I think I recall the cost being around $25k to have bladders installed).

I don't know what bladders cost, but that seems high. A tank repair is probably $1000 to $2000, A reseal is $7000 to $10000. Maybe some of the professional mechanics or someone who has recently had this done can chime in.

 

FWIW An expensive shop that has a lot of experience fixing tanks is most likely cheaper than a cheap shop with little experience fixing tanks...

  • Like 3
N201MKTurbo Grand Master

N201MKTurbo

Posted
Posted
22 minutes ago, gsxrpilot said:

Compare that one with this one.

https://www.trade-a-plane.com/search?category_level1=Single+Engine+Piston&make=MOONEY&model=M20C&listing_id=2380002&s-type=aircraft

Never underestimate the value of a good autopilot in a Mooney. The difference in asking price is $5K, the cost to install that autopilot would be close to $20K. 

Way better!

  • Like 1
KLRDMD Grand Master

KLRDMD

Posted
Posted
22 minutes ago, gsxrpilot said:

Compare that one with this one.

https://www.trade-a-plane.com/search?category_level1=Single+Engine+Piston&make=MOONEY&model=M20C&listing_id=2380002&s-type=aircraft

Never underestimate the value of a good autopilot in a Mooney. The difference in asking price is $5K, the cost to install that autopilot would be close to $20K. 

Not to mention you get the manual gear with this one and this year is one of the best.

  • Like 3
ValkyrieRider Enthusiast

ValkyrieRider

Posted
Posted
5 hours ago, gsxrpilot said:

Compare that one with this one.

https://www.trade-a-plane.com/search?category_level1=Single+Engine+Piston&make=MOONEY&model=M20C&listing_id=2380002&s-type=aircraft

Never underestimate the value of a good autopilot in a Mooney. The difference in asking price is $5K, the cost to install that autopilot would be close to $20K. 

Definitely a better plane for the value.  Not saying the other one isn't a good value, just this seems to be a better value.  The Stec50 is worth the difference in price, but I do like that the first plane as the JPI830.  To install a new JPI830 would be cheaper than installing a new autopilot (although the engine monitor, in my opinion, is important, and nice to have).

Brian E. Proficient

Brian E.

Posted
Posted
7 hours ago, gsxrpilot said:

Compare that one with this one.

https://www.trade-a-plane.com/search?category_level1=Single+Engine+Piston&make=MOONEY&model=M20C&listing_id=2380002&s-type=aircraft

Never underestimate the value of a good autopilot in a Mooney. The difference in asking price is $5K, the cost to install that autopilot would be close to $20K. 

That plane would have saved me $30K on avionics upgrades.  If it checks out, it's a great platform to start.  Buy, fly and have fun!

  • Like 1
Pilot boy Community Regular

Pilot boy

Posted
Posted
14 hours ago, N201MKTurbo said:

Seems a bit high. More interior pictures would be helpful.  

The tanks are leaking, that needs a discount.

I'm looking at buying as well - what do tanks typically run to fix?  $10k?  How often do you have to do it for a Mooney - every 10, 20 yrs?

carusoam Grand Master

carusoam

Posted
Posted

Keep in mind while negotiating a price...

When THEY tell you of the problem in the ad... that implies they know about it... And set the price that way...

When YOU find it and bring to their attention... that implies they didn’t know about it while setting the price... And a proper discount should be used...

 

Look up the vref price... or get a copy of Jimmy’s price guide will get you in the park...

real negotiating is best done with two similar birds available at the same time...

Tough negotiating is when somebody else is looking at the bird you want at the same time...


There is no Kelly’s blue book... there are no standards... there isn’t even a large market, or dozens of buyers...

There is probably an asking price, that is higher than the sales price...

Expect the difference to be a few percent...

 

The PPI is the best thing for your wallet...

PP thoughts only, not a machine sales guy...

Best regards,

-a-

  • Like 1
gsxrpilot Grand Master

gsxrpilot

Posted
Posted
10 hours ago, Pilot boy said:

I'm looking at buying as well - what do tanks typically run to fix?  $10k?  How often do you have to do it for a Mooney - every 10, 20 yrs?

Full strip and reseal - $7000 (not including the cost to get it there) and should last 20 years.

Patch - $500 to $2000 and will last anywhere between the time you leave the shop and 5 years.

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