You would probably need to do an overhaul right away, but the plus side to that is you’d start with a fresh 2,000hrs before TBO! It’s even IFR certified.
I don’t know if this is a good deal or not… would need to defer to @Ben.neely @Dr.Badass & @LeeGriffing for the value of Cherokee’s!
@LeeGriffing @Dr.Badass @Ben.neely I don’t know a lot about buying an aircraft, so a couple of questions here. Would you be able to finance the overhaul along with the aircraft? What besides SMOH, TTAF, maintenance records, and paint is important to check when looking?
I don’t believe you can include an overhaul in the financing. Not 100% on that. SOMEONE might. A Lycoming O-320 is like $28,000. So you put a brand new one on there and you’re at $80,000 total value. You’re talking overhaul not new but there are wide variances with overhaul costs. I’d wanna be $60-65,000 all in.
I’d definitely find a mechanic to do a prebuy inspection. Another set of eyes that isn’t as excited about buying a plane is good
@IceBearAir I cannot agree more with @Ben.neely There is NO other way to do it. They’ll find tons of things(to consider) before and during a pre-buy.
But if you mean more while sorting through ads… Engine SMOH, TTAF, paint scheme/n-number you like, AVIONICS could be a huge swing in value and Damage History - not necessarily a deal breaker for your first plane, but probably something you want to verify and probably avoid on your dream plane.
What kind of price range are we looking at for an overhaul on a O-320?
The pre-buy is definitely worth its weight in gold.
Yes, just to sort through the planes. Mentioning Avionics, I am wondering what I would want in an aircraft if I wanted it IFR certified? I know that can be as little as the six pack, but that would preclude RNAV approaches. Would a 430 be sufficient or are there other devices that do the job better?
Yeah, as soon as I started to get a base line comfort level with the 430 I heard Garmin is giving it the Ax.
Depends how much attention span you have. Lots of time and attention - $15,000.
Get me flying and I can’t be bothered $20,000.
Hi there! This is my first post on here. I don’t have any experience with personal aircraft ownership but I would surmise that a buying an airplane with a run out engine would be advantageous with maximum negotiability. Then you get to make the decisions for who and how that overhaul takes gets done.
Hey @TimR Welcome!
I agree, I would rather get a discount, worth at least what the cost of overhaul is, and have more control over how the overhaul is being done and by who.
This is more desirable to me as a buyer than buying something that was just overhauled without my input.
@TimR I agree with @RobertBerger its like a Christmas present getting a good quality airframe with good paint, interior and mostly good avionics but a run out engine. The firewall forward is where most of the value and safety is derived. Its a gift to be in control of not only the quality of overhaul but also the quality of hours that get put on it. Knowing how well its been treated is great peace of mind.
