I am currently a student pilot flying a SR20 and should have my private before Christmas. On to IFR in the new year. SR22 is the perfect fit for my business and personal needs.
A friend of a friend of mine is willing to sell his 2010 SR22GTS with every option available. He has found himself not flying much anymore. It has been repaired to Cirrus Specs and has flown around 800 hours since engine replacement over the last 2 years with 1200 total hours on the air frame over 5 years. There was also some moderate work performed on the wings after an incident. His asking price is in the high 300’s. I have a few questions that I need to get my head around. I know your response will be difficult given the limited information I have presented. I just want to get an opinion or two to help bring some things in perspective.
What % reduction in price compared to a similarly equipped aircraft should I seek for a plane that has been repaired, but proven air worthy but has damage history?
Should I even be considering this plane?
Thanks. Look forward to joining the Cirrus family.
From what you write i see no warning signs. Price seems to be right, and a 2010 GTS is a nice and solid airplane. If course it will make a difference if the “wing damage” was a structural repair after a crash landing - or a replaced wing tip.
The best route is to really survey the market, rather than just considering one local option. Call Steele Aviation and ask them to walk you through the market at your price point. Generally, if you plan to keep the airplane forever and can get happy with the repairs that have been done, an airplane with a damage history could be a bargain. But probably half of all potential buyers won’t consider it when you want to sell. Your example seems to have had an engine at 400 hours, which needs some explanation. If it’s the wings that suffered damage (not hangar rash to a tip) there’s some risk of damage at the roots, etc., as those long wings create a lot of leverage. Lot’s to work through for a first time buyer. You’ll do well to hire a consultant to advise!
+1 to Jason’s comments. Once you settle on a plane, I suggest you hire SAVVY to manage the pre-buy examination. That also gets you a substantial discount on the first year of SAVVY’s maintenance management. You’ll definitely want that as a first-time buyer.
If you’re flying for business and you need to be able to go in most weather, you should at least consider turbo and FIKI. They have their drawbacks (mainly weight and acquisition cost) but can significantly improve dispatch, depending on where you fly.
i would counsel against jumping on the first plane you look at. Poke around for a few months, join COPA, read the forums, look at a few birds before buying. Not to mention you’ll likely be well into 5 figures insuring a 22T sans an instrument rating with 100 hours.
A lack of due diligence and unnecessary urgency cost me about 40K with my first airplane purchase. Had a little discipline looking for my next one which worked out well. Take your time, figure out what you really need, learn what to look for.
Especially if the first plane has damage history… You just don’t know what you don’t know.
Absolutely the best way to become educated. And it is fun to learn something every time you visit the member forum. There is a wealth of knowledge there.