This is hypothetical. I'm trying to learn and can't find engine questions of this nature anywhere. I'd like to buy a plane with an engine (Lycoming O-360) close to or over TBO. The engine runs fine and compression is ok. It is 30 years old and has never been overhauled, but had a "top" 600 hours ago. From what I've read, it costs approximately $12,000 - $18,000 to overhaul an O-360. Is the variance in price because some items might not need to be changed, such as the crank, cylinders/valves, etc.? Or does an overhaul always require replacement of certain parts, and the $12-$18k variance reflects different overhaul shops? What I'm getting at, is that after purchasing such a plane, is it possible to find out that the engine is NOT overhaulable or that it would take a lot more than $18k? When buying a runout, is it safe to pick a figure as the absolute worse case scenario? There is a big difference between $18k and the $27k that a new engine would cost. Thanks
Well, you've hit several of the key issues there, and the answer is....all of the above
. I know you didn't want to hear that, but it's the truth. No, not all the parts have to be replaced, but yes, there is a list of requireds, and if an old part doesn't meet spec, it needs to be replaced. On those engines, camshafts are common. Now you say the engine is 30 but has never been overhauled, that is a good sign, as parts like the crankshat will
probably be good. If you have 600hr cylinders, they can probably be reused. There are two ways I would go with this situation, cheap-as, or all out.
Cheap-as would have me disassembling, measuring everything for spec, recondition the rods/new rod bolts line bore the case, toss bearings in and put it together with the jugs you have, and whatever other required parts. Some new hoses, and back on the plane.
All Out. Factory New with the roller cam, and do the whole thing Firewall Forward.
Now, the way I would determine this is "Is this the plane I want to be flying in 5 or 10 years?" If not, cheap-as. If yes, Then the All Out method is probably the better choice.
Note: I make this last statement based on the assumption I drew from your post that you are not a mechanic, and will not be doing the work on your engine. BTW, the longer you run past TBO, the more likely you are to have a more expensive overhaul.