Here's my story:
My daughter is 15 and will be 16 in September (hope to solo here on her 16th). She wants to be a Fed Ex pilot and has already taken her private pilot ground school. I'm a CFI so I can do most of her teaching (if we own the airplane).
We have very few options nearby. We have a flight school (with a 172 for $135/hr) at MTJ but the guy that runs it was out of town over the last year so it has mostly been shut down. The next nearest airplane is a 1:10 drive and its a 182 for $165/hr.
I have a friend that wants to partner on a Cardinal. Here's the listing:
http://www.trade-a-plane.com/detail/air ... 49297.htmlIt seems like a pretty good bird. 400 hours on the motor, NDH, talked to the owners and their shop and it sounds well cared for. Owners had it for 5 years and lost their medical. Paint, interior & radio stack are nothing to get excited about but mechanically its a nice plane. Its a 180hp and that's important around here (5200' elevation)
Here's my rough math:
Fixed
Payment $270
Insurance $1200 ($100/mo) ($40K hull)
Annual $1200 ($100/mo)
Tie down $25
Variable
Fuel (9gal/hr) $50
Oil changes ($100/50hrs) $5
Wear items ($200/50hrs) $10
Engine reserve (25K/2000) ($12.50)
If I'm correct on this stuff, the plane cost me $250/mo for fixed costs (my half) and $78/hr. I figure we will fly 10-20 hours/mo. I also assume I won't lose more than 10% of my investment if I sell it.
Here's my questions:
Is a Cardinal a decent trainer?
Anything to watch out for in these airplanes?
Can I get into any other airplane for a better price (I'm 6'5" so a 150 or 152 won't work - daughter is 6')
How does this plane look (seems like a great value to me)?
Anybody know a good shop up there for a prebuy?
Did I miss anything on the math?
This looks like a really good deal and under the market by maybe $5k. They already have a couple of other lookers. It seems we need to move quickly but that usually drives mistakes so I'd appreciate any and all input.
Lastly - I would keep the P baron, I don't see doing much traveling in a C177.
Thanks!
Also 15 year old daughter.
Did buy the Cardinal.
Really needs a 180hp but I've not located the STC yet. Don't know the costs. Did find a motor.