Get an independent A&P to do a compression check on this engine.
Usually, if the engine doesn't use oil and is making good
compressions, it will go another 500 hours, regardless of how many
hours is on it. Also, see if you can find out the history of rebuilds
on this engine. How long has it been since it had a MAJOR, that is new
crank bearings and new camshaft. If it has a fairly new crank and
camshaft, when it does need work, you may be able to get away with
just a top overhaul. If it has been 4000 hours or more since bottom,
you will need a complete rebuild.

Yes the engine is near TBO, but one thing, if you can run past TBO,
the engine hours are "free" as it has already been depreciated.

Plane prices are very soft right now, you should be able to deal down
a bit.

A 152 is a great little airplane. Have you checked out a Cessna 140?
Taildraggers are a lot of fun and always a challenge to fly.

Paul Folbrecht wrote in message thlink.net...
Me: 7x hour recently licenced PP-SEL.

Plane: '79 C152 being sold by my FBO for $19,200. TT is around 8000 (I
think), SMOH is 2050. Annual just done. This looks like an Ok deal to
me when comparing to like models, but the clincher is that they are
throwing in one year of hangering as well. That makes it look like a
pretty nice deal.

Ideally I'd like to go into this with a partner but I haven't been able
to find one and I do honestly think they'll unload this aircraft before
too long. Not sure if the price or terms are negotiable but I would
like to try to squeeze a second year of hangaring out of them.

Concerns:

- Engine has only a few hundred hours till TBO. I know that means
dropping another $10K or so within a few years.
- Plane has been abused by students (including me) for 25 years now (the
FBO bought it new).
- The only A&Ps I know that I could have take a look at it work for this
FBO.

Pros:

- The plane flies a lot; I know that's good for the engine.
- The FBO is reputable and I know they do their maintenance and take
care of squawks.

I'm torn in general on renting vs. owning right now. I anticipate
flying about 100 hours/year- by my calculations that's right around the
break-even point. However, knowing you're always going to have an
aircraft available to fly, even on short notice, is something you can't
put a direct dollar figure on.

I know this issue in general has been beat to death more than anything
else here, and I've read a lot of the old threads, but any and all
comments welcome. I'm much newer at all this than most of you here.

~Paul