jpj@mss.UUCP (J. P. Jenal) (11/04/85)
Greetings - I am a fairly new (7/21) Private Pilot and I am looking into the possibility of purchasing a plane. At present I am leaning toward a used 172 - most of my time is in 152's so the transition would be reasonably simple. What is the best way to go about getting into small plane ownership? I will be ordering the AOPA used plane book, what other advice could the mighty net readership pass on to this novice? Are clubs a good way to go? How do you find out about same? Likewise w/partnerships. I am a teacher w/limited funds so money is definitely an object. Of course, if there is sufficient interest I will condense and post a summary. Thank you for your time and support... Cheers... Jim Jenal (aka ...!scgvaxd!mss!jpj) Mayfield Senior School ( " ...!ihnp4!mss!jpj)
cfiaime@ihnp3.UUCP (J. Williams) (11/07/85)
In article <56@mss.UUCP> jpj@mss.UUCP (J. P. Jenal) writes: >Greetings - I am a fairly new (7/21) Private Pilot and I am looking into >the possibility of purchasing a plane. At present I am leaning toward a >used 172 - most of my time is in 152's so the transition would be >reasonably simple. What is the best way to go about getting into small >plane ownership? Ah, yes, the first airplane. Like a first love, it may be a bittersweet experience, but one never forgotten. (My, the flight instructor is waxing somewhat poetical!) Anyway, there are three major ways to own an airplane (and not join a club). Single owner, partnership, and leaseback. Single owner: this is the best in terms of airplane flexibility. But, your breakeven point is around 200 hours a year (if you are into such things). All expenses are paid by you. But, all of the fun is yours, too. Partnership: it works with the right partner. Consider this to be like a marriage. It is quite stressful if you are not TOTALLY compatible with your partners. Leaseback: all of the advantages of renting without the advantages of ownership (with tax breaks because you are a business). Watching someone else fly your airplane is like helping someone violate your spouse. Not good for a first airplane, really. On a personal note, airplane 1, Cessna N6914G (1971 C-150), was a lease back arrangement. Airplane 2, Luscombe N2239K, was private ownership that I let others fly (and crash). Airplane 3, Taylorcraft N43910, was a partnership. Last, but not least, Funk N24120 (aka Phoebe), is sole private ownership that no one flys right now (seeing that it was damaged in a hail storm and has not been recovered yet). In choosing your airplane, be careful not to buy more than you need. If most of your flying (85% or better) is by yourself or with one other, don't buy a four seat airplane. For the occasional trip requiring more seats, rent the "Sunday going to meeting" airplane. Remember, your family may not always fly with you. May I suggest that you order a subscription of Trade-A-Plane. If you do find an airplane, make sure that you look it over with a friendly A&P. Probably the best start would be to start looking over shops in your area and meeting the mechanics. If you are serious, your airplane will find you in just a few weeks. jeff williams AT&T Bell Laboratories ihnp3!cfiaime