The setup
I am currently a student private pilot (Stage 3 check is coming up in the next week; check ride hopefully around a month out ). I have been flying C172 with G1000 (~130 hours so far); I want to enjoy my PPL for a little while and keep building time, but my plan is to get my Instrument and Commercial ratings in the near future (ideally, later this year), with the long-term goal of getting all the way to ATP (we'll see).
A few weeks ago, I learned about Tango Flight and their high school build program, and after giving it some thought I decided to move forward with one of their student builds (ELSA); to be delivered by the end of May. The build from Tango Flight is basically Night VFR capable with an Autopilot, so I knew I would have to add, at the very least, a GPS to be able to use it for IFR training (in VMC). The price from Tango Flight is $129,900. My CFI thinks I should get a GTN650 instead of a GPS 175, but that's ~$6,600 difference ($11,800 vs $5,200); I would like to have it painted, so I'm adding another $12,000 for that (I'm ok with a simple white coat), plus a G5 as a backup, there goes another $1,575. Adding $5,000 for misc items such as avionics installation, ferry fees, etc, I'm looking at ~$153k or ~$160k (depending on GPS chosen).
Last week I went down to Hillsboro, OR to get transition training on the RV-12iS, and I took the opportunity to swing by Van's factory in Aurora. I was finally able to experience the "grin" during the demo flight, and also learned about their "Advanced Trainer" configuration for the RV-12iS, basically an IFR-capable version without wheel pants and fancy paint scheme (all white). This version is available for $219,500, with delivery in July 2024.
The question
Assuming I use this aircraft for my IFR and Commercial training, plus time building to get to ~1,000 hours total; what do you think is the "better" option? As much as I like the RV-12iS, I am not sure it makes sense to keep it forever. If I got the ELSA from Tango Flight, I might take the 2 Day Light Sport Repairman Inspection Course, but it's not guaranteed.
I am trying to make "the right" choice, which in my head means getting the aircraft that makes the most financial sense at the end of the ~1,000 hours that I'm planning to use it for.
Somehow, I got in my head that the SLSA version has potentially a better resale value, but, does it really?
If I focus only on the "final" number (without taxes), the difference is ~$59k ($219,500 vs $160,275), but the SLSA still has the advantage of a proper second EFIS (GDU 460) vs just a G5 as backup.
I am thinking that I could potentially do a lease back on the SLSA to a flight school, or just sell it once I hit my goal, which is the only option for the ELSA.
Bonus data
One RV-12 just went "SALE PENDING" after about a week on the market. This is a 2021 SLSA (Platinum Package; GNS 650, Autopilot, dual EFIS (GDU 460) and 3 color paint job), with 1010 TT; and until yesterday, it was available for $179,500. I found this link from December 9, 2021 that says that specific build (Platinum package) used to cost $159,500; so, looks like this owner came out ahead, even if it sold for less than asking price. For another data point, this link from December 1, 2022 shows that configuration was $183,000 by then (~15% increase YoY), and finally, this link from December 8, 2023 shows the current price of $232,500. (~27% increase YoY, and ~46% from two years prior!!).
Sales data for ELSA is not so easily available, but a 2022 VFR-only Dynon, high school build with 112TT, is currently available for $125,000 (somewhat expensive, I'd think).
Thoughts...
What would you do, and why? Am I missing something? By the way, I am still able to get my full deposit back from Tango Flight.
Thanks a lot in advance!
Pilot-to-be.
I am currently a student private pilot (Stage 3 check is coming up in the next week; check ride hopefully around a month out ). I have been flying C172 with G1000 (~130 hours so far); I want to enjoy my PPL for a little while and keep building time, but my plan is to get my Instrument and Commercial ratings in the near future (ideally, later this year), with the long-term goal of getting all the way to ATP (we'll see).
A few weeks ago, I learned about Tango Flight and their high school build program, and after giving it some thought I decided to move forward with one of their student builds (ELSA); to be delivered by the end of May. The build from Tango Flight is basically Night VFR capable with an Autopilot, so I knew I would have to add, at the very least, a GPS to be able to use it for IFR training (in VMC). The price from Tango Flight is $129,900. My CFI thinks I should get a GTN650 instead of a GPS 175, but that's ~$6,600 difference ($11,800 vs $5,200); I would like to have it painted, so I'm adding another $12,000 for that (I'm ok with a simple white coat), plus a G5 as a backup, there goes another $1,575. Adding $5,000 for misc items such as avionics installation, ferry fees, etc, I'm looking at ~$153k or ~$160k (depending on GPS chosen).
Last week I went down to Hillsboro, OR to get transition training on the RV-12iS, and I took the opportunity to swing by Van's factory in Aurora. I was finally able to experience the "grin" during the demo flight, and also learned about their "Advanced Trainer" configuration for the RV-12iS, basically an IFR-capable version without wheel pants and fancy paint scheme (all white). This version is available for $219,500, with delivery in July 2024.
The question
Assuming I use this aircraft for my IFR and Commercial training, plus time building to get to ~1,000 hours total; what do you think is the "better" option? As much as I like the RV-12iS, I am not sure it makes sense to keep it forever. If I got the ELSA from Tango Flight, I might take the 2 Day Light Sport Repairman Inspection Course, but it's not guaranteed.
I am trying to make "the right" choice, which in my head means getting the aircraft that makes the most financial sense at the end of the ~1,000 hours that I'm planning to use it for.
Somehow, I got in my head that the SLSA version has potentially a better resale value, but, does it really?
If I focus only on the "final" number (without taxes), the difference is ~$59k ($219,500 vs $160,275), but the SLSA still has the advantage of a proper second EFIS (GDU 460) vs just a G5 as backup.
I am thinking that I could potentially do a lease back on the SLSA to a flight school, or just sell it once I hit my goal, which is the only option for the ELSA.
Bonus data
One RV-12 just went "SALE PENDING" after about a week on the market. This is a 2021 SLSA (Platinum Package; GNS 650, Autopilot, dual EFIS (GDU 460) and 3 color paint job), with 1010 TT; and until yesterday, it was available for $179,500. I found this link from December 9, 2021 that says that specific build (Platinum package) used to cost $159,500; so, looks like this owner came out ahead, even if it sold for less than asking price. For another data point, this link from December 1, 2022 shows that configuration was $183,000 by then (~15% increase YoY), and finally, this link from December 8, 2023 shows the current price of $232,500. (~27% increase YoY, and ~46% from two years prior!!).
Sales data for ELSA is not so easily available, but a 2022 VFR-only Dynon, high school build with 112TT, is currently available for $125,000 (somewhat expensive, I'd think).
Thoughts...
What would you do, and why? Am I missing something? By the way, I am still able to get my full deposit back from Tango Flight.
Thanks a lot in advance!
Pilot-to-be.
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