I am going to need a new engine for my 02 V8 4.6L and thinking rebuilt or used would work. However I only have 4k to 5k to spend for parts and labor. My question is given the dollar amount is there any pros or cons over those 3 year 36k rebuilds vs a low milage used motor.
When the motor went out in my 2000 GT, I purchased a salvage Romeo 4.6 from a 2004 Grand Marquis. The motor had 35k Miles and I paid $780. My Son and I put the motor in ourselves using an engine crane in the driveway. We used only hand tools. That was 3 years and 50,000 miles ago. By any measure my swap was a success.
To me the choice should boil down to things like
Do you need a guarantee on the work?
How long to you plan to keep the car?
Are you planning any mods?
How much $$ do you want to spend?
Soooo IMO if the plan is to replace the motor for the LEAST amount of $$, then it's hard to go wrong with a DIY salvage yard swap. If doing the work yourself, it's possible to complete the entire job for less than $1,000. The down side is the time it takes and the lack of the guarantee. On the other hand, if you are unhappy with the work, you won't have to look any further than the mirror.
Check out car-part.com for some sample motor prices in your area.