Ok, I'll start off the story by saying that I have a '99 GT, and it is well maintained and babied, no oil leaks, nothing. Never had any engine problems ever.
Last night for the first time this year, I run the car against several buddies of mine just for fun. I probably made 6 eighth mile runs overall, then I headed on my way home and heard a bit of a chatter at low RPM, so i stopped at the nearest gas station, and checked the oil and it was over a quart and a half low!!
The car is only 2500 miles in on the current oil change, and I don't even drive it much as it is not my daily driver. It doesnt leak ANYTHING, i could eat off the oil pan. Ive never seen the car smoke, unless it puffs something undetectable at WOT, and over time it has added up.
Anyway, I added oil and limped it home, never getting over 2k rpms. I started it up this morning and it was completely silent, never made a noise. Revved it and it revved free just as it always has. Once it warmed up... knocked again, very noticeable, even from a distance.
Performance-wise, the car doesnt seem to have lost power, but i havent took it up in the RPM's because, quite frankly it doesnt sound safe.
So what do you guys diagnose this to be. Can it be saved? If it ends up being junked, I've got a 5.4 swap plan ready to go into effect, but if something simple can get my 4.6 going again, I will keep it in, as it is a great running car.
THANKS. I appreciate any help or advice.
Last night for the first time this year, I run the car against several buddies of mine just for fun. I probably made 6 eighth mile runs overall, then I headed on my way home and heard a bit of a chatter at low RPM, so i stopped at the nearest gas station, and checked the oil and it was over a quart and a half low!!

Anyway, I added oil and limped it home, never getting over 2k rpms. I started it up this morning and it was completely silent, never made a noise. Revved it and it revved free just as it always has. Once it warmed up... knocked again, very noticeable, even from a distance.
Performance-wise, the car doesnt seem to have lost power, but i havent took it up in the RPM's because, quite frankly it doesnt sound safe.
So what do you guys diagnose this to be. Can it be saved? If it ends up being junked, I've got a 5.4 swap plan ready to go into effect, but if something simple can get my 4.6 going again, I will keep it in, as it is a great running car.
THANKS. I appreciate any help or advice.
