High time 150 questions.

[firebug]

I came across a 1971 150 today for $8,000. It's at 12,000 TT and 2400 SMOH compression is good, and it runs/flys great. The guy who has it bought it for 3 of his employees to get their ppl and they are done with it. Paint is good and interior is a 5/10. I'd be using it to finish my PPL it's in annual. They do have logs since day one. No damage history. Is this worth looking into or should I run! Thanks.

 

[Jim Logajan]

I'd probably run, very nice examples of a 150s can be had for less than the purchase price + what this wold need for me to fly it.. 2400hrs, it needs a new engine.

How can you tell it needs a new engine?

 

[Jim Logajan]

2400 that's a big number for a 0-200.

Shouldn't it have exploded at 2001 hours then?
How can anyone here tell it needs a new engine?
You think it wont last another 80 to 160 hours?

Let me put it this way: if he managed to use the plane for another 160 hours and had to scrap it, his amortized asset cost is $50/hr. Not great but not bad either. If he sells it for a mere $4000 after he is done he is looking even better financially compared to renting dry.

 

[Jim Logajan]

As is, it's a $3500 airplane in the resale market.

Nonsense.