I own a 1964 Cessna 150, I have had it for 35 years and I am presently doing a major restoration on it, so I can speak from experience.
The direct operating costs for any airplane are only part of the overall operating costs. On this 1964 C-150, as on almost any airplane over 20 years old the history must be checked over very carefully, especially as to how, where and who operated it.
While Cessna builds great airplanes, they were never known for their corrosion protection and a lot of Cessna’s are having costly corrosion problems. If it was based in the dry dessert areas you can expect minimal corrosion, but if it was operated in any costal salt air environment there will be corrosion, and some of it could be severe.
Before you buy this airplane, you should have it checked over very carefully by an aircraft mechanic who is familiar with Cessna’s. Make sure the log books are in order and up to date, all airworthiness directives (AD’s) have been complied with and there is no accident history.
One word of caution, many airplanes have been repaired and unapproved parts and procedures used and there is no record of these repairs entered in the log books, so a good visual inspection inside and out should be conducted as well.
The major area to be concerned about is the engine. A typical full overhaul can cost around $8000 so make sure the engine is low time and was overhauled by a reputable overhaul shop and is documented, not by someone in his garage or who works out of a truck.
So before you purchase this airplane, sit down and figure out exactly how much the maintenance costs, insurance and storage will cost.
There is a great organization called the Cessna Pilots Association based in Santa Maria, CA
. They are experts on Cessna’s and probably could answer any pre buy questions you have. If you do buy the airplane, I would suggest you join this association to take advantage of their expertise. Also the AOPA is another great organization for pilots.
If you have any other questions about a 1964 C-150 e-mail me and I will try to answer them for you