buying a plane for flight training

[splash333]

I am thinking about buying a plane to get my private pilots license in and build some hours, fly around and see if I want to make a career of it. I had wanted to get my ppl before thinking of buying a plane but I figured if I can save a little money and own a plane it might be worth it. There are two planes I found, my main concern is to find something cheap and well maintained, safe. I dont plan on putting money into an overhaul or anything, just fly it as long as I can and sell it. Both of these are local to me. I am new to this and would be interested in any feedback, advice, opinions.

1975 Cessna 150M--http://tuscarawas.craigslist.org/for/4557028693.html
this one I can get for 10k plus the cost of the annual which is to cost no more than1k at my expense

this one is on barnstormers, I cant figure how to post a link, I can get for 12500.
1962 CESSNA 150B FASTBACK • $12,900 • CHECK IT OUT • 1962 Cessna 150B Fastback, 1580 SMOH, 2300 TT, 220 STOH, Autogas STC. Annual good until 10/14 Simple Effective VFR plane. Well Maintained. Cleaner than most 150's Full Set of Wheel Pants. Tires and Brakes are newer. Great Compression. New Upholstery. Cheap to Operate and maintain. • Contact Steve J. Sedensky, Owner - located Lodi, OH USA

 

[Deleted member 21509]

My advice, rent a while and see if its something you are going to continue with. There are two reasons for this. The first is to see if flying is really something you want to continue with. I have seen a lot of people get to their solo and kind of taper off. The second reason is, having some hours will give you a better idea on what you want in an airplane. A 150, while cheap to acquire, can still cost a lot of money in repairs, annuals, tie down, insurance, and other non fixed costs. Most people who haven't been around aviation think its probably like owning a car. You buy it, it costs money in fuel and insurance, and as long as nothing major breaks its not an issue. Airplanes are different in that if something isn't right, you can't just pull over and have it towed home. Also, if you want to make a career out of aviation and your goal is to build time and learn in this plane, its pretty useless after your PPL. Sure you can go fly off some XC hours for cheap, but you can't do your instrument flying in it, nor can you do multi or commercial. I would wait and get something you can do your Instrument in. That would have much more value if you want to make a career out of aviation.

 

[flyingbum]

Those seats look pimpin yo. I'd mob it

 

[Itchy]

Well, I dunno. If you bought the right one, and you are dead set on flying the crap out of it, I think it could work. BUT: You need to have a pile of cash. If I were to buy a perfectly good mid time 150 for 12K, I would want at least that much cash on hand, and the willingness to expend it, just to keep it real. Once in a while, aircraft owners get sucker punched right in the mouth. But if you do fly the snot out of it, it could work for you. It is, and should be looked on, as a gamble.
I would look hard for a good 172, as the market may be better to get rid of it when the day comes.

 

[jskibo]

Second the thought on something with an IFR panel if you're set on it. You'll have to rent to complete your COM but at least you're not renting every six months for currency. Unless you plan on logging a few hundred and dumping it, but with that SMOH, you might have a hard time selling it off with another 300-400 on it.

 

[desertdog71]

If it flies floats or fornicates........

 

[CoffeeIcePapers]

Ask @ryanmickG about unforseen costs associated with aircraft ownership.

 

[esa17]

I bought a 150 and a mooney flight training and as a result I have zero training debt. It can be a great way to go.

First thing you need to be ready to do is drop $5000 on the plane the day you take possession of her. The next thing you need to be ready for an overhaul which can push $20,000.

Buying the planes led to some fantastic flight experience and helped me earn my A&P but if airplane ownership goes bad, it goes really bad.

 

[Houston]

See if there are any local partnerships you can buy into. Owning an airplane is a wonderful education that you don't get by renting. There is only one problem. It's an incredibly expensive education. If you're the single owner, the expense can be overwhelming. You not only have to cover those expenses alone, you don't have the guidance of others to keep you from making serious financial mistakes.

If you do look into a partnership remember that the partners are more important than the airplane. Airplane partnerships can be great, but it only takes one bad actor to ruin it for everyone.