When they’re looking for a good used plane to buy, many would-be owners gravitate to the best-known models. That makes sense in a way. The chances are good that a model that is well-loved will live up to its billing and deliver a fantastic flying experience.
But the problem is that the crowd favorites wind up selling for more. It’s about as simple a case of supply and demand as you can get. The Cessna 182 Skylane and the Beechcraft Bonanza are two cases in point. The 1964 Skylane I bought earlier this year cost about $20,000 more than it would have just a decade earlier. And when a good used Skylane shows up on the market, it doesn’t last for long, and buyers typically get their asking price, or more.
But in the case of the Skylane or Bonanza, there are alternatives that aren’t as popular or as pricey. Sometimes this has to do with speed or utility. Mid-’60s Bonanzas cost a lot more than late-’50s models do, and not just because they’re new but also because they’re faster. For those buyers who are willing to be 10 or 15 knots slower, there are excellent alternatives to the Bonanza, and sometimes that might mean an older Bonanza. Alternatives.
Before you start looking for a plane, it’s important to be clear about what you’re going to use it for. You might want a used Cirrus SR22, but if your most common trips are going to be 400-mile jaunts or less, then you’d probably do just as well with a used, lower-cost and lower-upkeep model like an older Mooney M20 that will get you to your 250 nm destination a little later and with less room but for pennies on the dollar. I could go even further and say that many pilots would be wise to consider a good used two-seater. It’s no secret that pilots who have four- or six-seat birds overwhelmingly fly with a bunch of unoccupied seats. A two-seater, many will find, fits the bill for shorter, fun flights or even for the occasional longer voyage.
There are a few other factors to weigh when you’re narrowing your search terms. First, remember that buying the airplane is only part of the cost of owning a plane. How much fuel it burns and how expensive it will be to maintain are equally important factors to consider.
Another big question is, how readily available are parts? Interestingly, this is not always closely related to how old the plane is; some older planes are easy to get parts for, and some newer models are tough. And consider cost, too.
Finally, the condition of the plane you buy is critical to the purchase decision. If you were to get a plane with unknown or unrevealed problems, you could spend a lot of dough getting it back up to snuff. Engine and prop are a critical part of that calculus. The flip side is, if you’re willing to fly a plane with older paint and a less-than-chic interior, you could save a huge percentage of the purchase price because of factors not directly related to the flyability or mechanical soundness of the plane.
With all that in mind, check out our list of 10 great used planes that are not on everybody’s radar. There are a couple of well-known models that are readily available and cheap to buy, and there are some oddballs you might not have given a second thought to, until you looked more closely. In some cases, those birds can be the Avis Rent-a-Car of used planes, the number-two choice, like a Champ compared to a Cub. Sometimes there’s a lot to love in the path less traveled.
When Roy LoPresti did his aerodynamic magic to the Mooney M20, it became magically the Mooney 201, the nickname boasting the plane’s top speed of 201 mph. Because it’s fast, the 201 is a desirable airplane, and so it holds its value strongly. Pre-201 Mooneys, on the other hand, can still be had for a relative bargain, and there are a lot of them on the used market, too. The trick is to know what you’re looking for and what mods have been done to the plane.
Mooneys that deserve a closer look for bargain hunters with a need for speed (and economy) are the Ranger, Chaparral and Executive, though the Executive has escalated in price over the past few years due to having the longer and slightly wider cabin. The M20C Ranger and the M20E Chaparral (or Super 21), on the other hand, can still be acquired at bargain prices if you look around. The Chaparral is a particularly attractive airplane. With its 200-hp Lycoming engine, the plane is a reliable 160-knot cruiser with a good useful load (around 1,000 pounds) and a decent range (around 600 nm).
These planes are somewhat cozy in front and downright tight in back. But for pilots who fly most often solo or with one passenger, they work beautifully. Prices start in the $40,000 range (or occasionally much lower), and for that you can get a nice airplane, sometimes with mods, and sometimes with a newly overhauled engine. There are few or no high-performance used planes that can compete in terms of value, cost of ownership and operating costs with a good older Mooney.
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