many LAA types can have their engines repaired under the LAA system for the cost of the bits and not a lot more.
I now know whether I want to fly in your plane
But, seriously, you merely underline the point I constantly make which is that most of the cost saving of the LAA route derives strongly from an army of people willing to work cheaply or for nothing.
You can do the same on the CofA scene. In theory, I can do my own Annual, get a qualified engineer to inspect and sign off the work (G- or N-reg equally), and buy him a beer by way of payment
Knowing the right people makes far more difference than anything else, in aircraft ownership.
I don't think most people can afford to work like that. If you needed a new engine you'd obviously have to fund it, but it might be a case of being grounded for a while.
Quite a while..... How long would someone on the UK average male pilot salary need to save up for a new motor?
I think that almost every such case will end up a hangar queen, or be sold at scrap value. And it's not just little planes; most of today's ageing twin piston wreckage is worth only the engine TBOs.
After all, plenty of leisure activities are like that, e.g. a crashed racing car or a sick horse requiring massive vet bills.
I don't know about racing cars but presumably if you blow the engine up, the bits can be salvaged. There are no certification issues. Whereas breaking up a plane whose CofA has, shall we say, lapsed a while ago, is a long drawn out process and is best done, shall we say, between friends, because nobody is going to overtly generate fresh paperwork for the parts, in a manner which makes it worth doing
A horse.... now you take me back to my horse-mad ex wife
I don't think vet bills are often more than 4 figures and usually there is the husband to cover that. That's why horsey women like to marry successful businessmen
And can't you insure really valuable horses? I know you can get vet insurance.