those really cheap planes on planecheck....
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those really cheap planes on planecheck....
Hello everyone,
I've been wondering some time about the planes sold in planecheck that are really cheap, I have seen some around 3k€, others even cheaper. They don't look bad at all and many have all the paperwork in order and are ready to fly. ( I can post the links but many must've gone by now, if you check the webpage often you must have seen them too. ) Then I see really crappy looking ones which are rather expensive and I don't understand what's going on. If it's an easy explanation like the owner needs to sell it asap or something else unknown to me.
thanks,
spRom
I've been wondering some time about the planes sold in planecheck that are really cheap, I have seen some around 3k€, others even cheaper. They don't look bad at all and many have all the paperwork in order and are ready to fly. ( I can post the links but many must've gone by now, if you check the webpage often you must have seen them too. ) Then I see really crappy looking ones which are rather expensive and I don't understand what's going on. If it's an easy explanation like the owner needs to sell it asap or something else unknown to me.
thanks,
spRom
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It does happen occasionally that an aircraft will be nearing the end life of a component, be it wings, fuz or engine, which will be an expensive renewal operation. Bit like a property reaching the end of it's lease as used to happen in London where you could buy such a property for a few pounds.
Also debt. Aircraft and ships can have debt. Buyer MUST buy "free of all debt".
e.g. X has just upgraded his 1980 C/Pa, with new avionics, upholstery, exterior paint. But he can't pay the bill. Aircraft worth £150,000. Unpaid bill of £120,000, + growing interest. Unpaid hangarage/parking.
You buy the plane and the debt.
Better to wait for auction after seizure on court order. Difficult to deal with all the possible creditors, as well as the owner.
Or aircraft is left to rot away. Everyone loses. Especially the poor lawyers, who don't get any work.
e.g. X has just upgraded his 1980 C/Pa, with new avionics, upholstery, exterior paint. But he can't pay the bill. Aircraft worth £150,000. Unpaid bill of £120,000, + growing interest. Unpaid hangarage/parking.
You buy the plane and the debt.
Better to wait for auction after seizure on court order. Difficult to deal with all the possible creditors, as well as the owner.
Or aircraft is left to rot away. Everyone loses. Especially the poor lawyers, who don't get any work.
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Some times the "cheap" aircraft on planecheck have damage history of unknown repair, some are widows-try-to-get-it-off-the-yard-sales-quick, some have few hours on an engine left, some half-started engine troubles ... whatever you can imagine, you'll find one.
Take one an engine due for OH and take two it is one of the small block old 6-bangers = we are talking up to 30k for the engine work in a decent shop, while the aircraft may be worth 25k after it. Instead of selling it along with a 5k gift, you go for asking 3k ...
Take one an engine due for OH and take two it is one of the small block old 6-bangers = we are talking up to 30k for the engine work in a decent shop, while the aircraft may be worth 25k after it. Instead of selling it along with a 5k gift, you go for asking 3k ...
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thank you all for your replies.
Just to clarify . I didn't mean to imply anything bad about planecheck, on the contrary I think the webpage is good. I mentioned the webpage because it's where I normally look
Just to clarify . I didn't mean to imply anything bad about planecheck, on the contrary I think the webpage is good. I mentioned the webpage because it's where I normally look
