I own a 1964 M20D that was converted to an M20C in the year it was born. Since I purchased it, I have put in a Garmin panel, overhauled the prop, installed a Powerflow exhaust... Yeah, I've put some coin into modernizing it! It came with every speed mod except the one-piece belly.
I bought the Mooney five years ago with about 1,600 hours on an overhauled O360 A1D engine that had a recent top overhaul. The engine ran great with 70+ compressions on all four cylinders even up and until my annual in April 2024.
A couple of months prior to the April annual, my IA and I decided it was time to get a new engine. The twice-overhauled engine currently installed is the original engine, with a installation date of 1/31/1964. By April 2024, the engine had 2,450 SMOH hours on it.
Because of the age of the motor, instead of overhauling it, I decided to purchase a factory remanufactured engine and placed an $8,500 deposit on a Lycoming factory reman. When I ordered the engine in February 2024, I was okay with the 16-19 month lead time as the old engine was purring good, even at 2,450 hours. I'd muscle through.
Then, during the annual inspection's oil change, we discovered the 'ol 60-year-old engine was making metal— enough metal to give me pause about continuing to operate it. Of course, the IA wasn't going to sign it off either.
Meanwhile, Lycoming gave me a delivery date for the factory reman on November 2025! The old engine is required for trade-in to get the lower price on the reman.
I'm obviously grounded for a long while—19 months. 17 more months to go! Does anyone have any ideas about how I can get flying again without having to spend to ton of $$$ on a second engine, assuming if I can even find one?