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Considering aircraft purchase - finally ;-)

I’ve been in a Jodel DR1050 syndicate since January 1990. Most of the flying was done by me.
We formed a new syndicate in 2018 to buy the Bolkow Junior. Two of the four were keeping it grounded, and I bought them out, to be 75% owner. I’m planning to try to sell more shares when my upgrade is completed.
Only 1.5 hours have been flown by others.
Many syndicates have a problem with members not flying after buying.
Probably 5 is a minimum number for a syndicate, for disagreements.

Maoraigh
EGPE, United Kingdom

Patrick wrote:

Types looked at are C172, PA28 mostly.

From what you’ve said it seems very much as if you’re on the right track. a decent output 4 cylinder should fill your mission.

I tend to lean slightly towards the Cessna aircraft. A 170b with an o360 would be great, but it sounds as if you’d certainly prefer a training wheel machine.

If you can avoid an aircraft that’s been hammered by a training school that’s probably a bonus.

“Do only the legal minimum insurancewise (3rd party liability). You save tons of money…! "

I know that my statement might not be very popular.

But honestly, why should I pay 3.000,- €/£ or so premium per year if the minor damages are paid by me because of the deductible of anything between 1.000 and 5.000 €/£?

CSL does not make sense for me since my passengers do not pay for the flight so I am not liable anyway for their possible personal damage.

If I would have an emergency landing with substantial damage or a write off the insurance never pays the engine. And the deductible would be on me anyway.
So do the math. for a 50.000 €/£ aircraft and decide yourself how much money you waste.

On top of that I would not have to fight with an insurance company because their first action will be to check if everything was legal on this flight.

Last Edited by cessnatraveller at 13 Oct 20:04

cessnatraveller wrote:

Do only the legal minimum insurancewise (3rd party liability). You save tons of money…! "

I know that my statement might not be very popular.

But honestly, why should I pay 3.000,- €/£ or so premium per year if the minor damages are paid by me because of the deductible of anything between 1.000 and 5.000 €/£?

For major damage.

CSL does not make sense for me since my passengers do not pay for the flight so I am not liable anyway for their possible personal damage.

What do you base that conclusion on? It is not correct.

If I would have an emergency landing with substantial damage or a write off the insurance never pays the engine. And the deductible would be on me anyway. So do the math. for a 50.000 €/£ aircraft and decide yourself how much money you waste.

They would pay for the engine if it is damaged but there may be an adjustment if it is high hour vs overhaul.

On top of that I would not have to fight with an insurance company because their first action will be to check if everything was legal on this flight.

While literally true, this seems a rather odd argument.

EGTK Oxford

It is my point of view and I fly legally.

I preferred to invest the saved money in good maintenance and instrumentation (engine monitor for example).

Maybe ok to buy that extra premium insurnace for first 3 years?

Obviously, in the long run after 30 years you will break-even by saving that premium cash for your own insurance and assuming bang comes mid-life and under 100k aircraft value

Paris/Essex, France/UK, United Kingdom

That view assumes hull value is your only concern. Someone dies on board then you will be glad you have insurance. Or your family will be.

EGTK Oxford

Yes, I was referring to hull value insurance which tends to be expensive (e.g. 5% of hull value per year) vs say third party only (e.g. 1%), own life insurance/passengers liability addon are different topics and usually far cheaper (e.g. 10£/month regardless of whom )

Last Edited by Ibra at 13 Oct 21:44
Paris/Essex, France/UK, United Kingdom

Congrats!

It will probably be more expensive than you plan for. That’s my experience, even though I was realistic about everything going in.

Find a good mechanic. That’s the hardest part. Find one, then have them visit every airplane you’re serious about.
The prebuy is worth more than a 10k annual after the sale.

Pay more for a plane that’s in great shape. You won’t have to worry about it at the next annual and you’ll spend more time flying.
If you go for a cheaper one you can upgrade, you might find it hurts more because you lose time in upgrades and sometimes there are complications in the process.

cessnatraveller wrote:

On top of that I would not have to fight with an insurance company

Dealing with insurance company drones, either paying premiums or collecting payouts is the last thing I want to do and I avoid buying insurance unless I can’t convince myself the risk is manageable. Given that nobody has ever made a claim on any vehicle policy I’ve ever bought over almost 40 years, I’ve saved a lot of money. I don’t buy vehicles I can’t afford to lose and replace with cash on hand… but I’ve never had to do it, and while I do buy legally mandatory liability coverage for all vehicles, nobody has ever made a claim on my coverage.

Until l recently I had two planes in the hangar, and given the fairly real possibility of one falling on the other and both being wrecked I bought hull insurance for ground only plus liability for ground and in flight. Now that I’m down to one plane I can revisit this necessity next time I renew and maybe go down to liability only.

Last Edited by Silvaire at 14 Oct 00:27
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