Charles Talleyrand wrote:

My local mechanic says that I need to overhaul my engine. It's got
1200 hours but it's been 27 years since the last overhaul. He's
worried about the age, and he hears "piston slap" when he runs the
engine. Compression and oil analysis are fine. He is well respected
around the local airport.

He proposes either a name brand $16,000 overhaul, or a less costly
option where he and a local aviation mechanic professor can work on it
together ("two eyes are better than one" he says).

If it makes a difference, I don't live in farmland. I live in the
forest, with forest and lake for 100 miles in every direction.

Any advise? Any way to explain to the wife? Anyone want a nice C-150
with a new paint job but a tired engine?

Others have chimed in suggesting replacing only the top end components
that are out of whack. Consider that 27 years is more than TWICE the
manufacturer's recommended time to overhaul limit of 12 years. You may
get away with patchwork as others have claimed. But these folks rarely
report back when their high year, avoided overhaul ended them up in the
weeds. So, nobody has any real stats on how this crap shoot plays out.
Only the winners pipe up. It sucks but this is a reality with owning.
I'm not sure whether folks realize when they buy an airplane that
"judgment day" (the day when overhaul is necessary) must come. I figure
on a good chance of overhaul or at least some major engine work
(cylinder) when a plane is past 10 years or 1000 hours.

How to tell the wife? Explain the options. Patch it up and risk being
very dead in a crash, sell it and take a huge loss, or do it right and
have a safe plane to enjoy for the next 12 years. Divide $16k by 12.

By the way, don't just figure the price of the engine overhaul. You will
likely need an alternator and starter overhaul, new rubber mounts, new
oil and fuel hoses, new baffling, and lots of other small stuff. $5k is
a good estimate for planning (loan) purposes.

My only problem with field overhauls is that the finished product is of
unknown quality. It is somewhat of a crap shoot when the factorys/shops
do them. And those guys do it all day, every day. They know every little
nuance that can avoid later problems. And, you get a warranty. Yes, they
are very limited. But if the thing blows up 50 hours after you get it
back, they take care of the problem. With a field overhaul you are
likely out of luck.

Others likely have strong opinions contrary to mine. In the end, it is
your butt vs. your money at risk.

Good Luck,
Mike