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When I was younger (sigh) we used to source good engines from insurance write-offs. Now it's harder and harder to find good used carbureted engines. I've come across a possible deal on a rusty camper van with low miles and supposedly a good (running) motor and tranny. If I get it I'll test the compression before pulling it. What would you guys recommend is the best way to store the motor tranny after I pull it? Should I fog it while it's still running? I plan to put it on a pallet and put it in a shed to hold for future a project. Could be years.
Put it on the pallet, drain the coolant, plug all openings to keep insects out and tarp it. Also try to get all gas out of the carb. Should keep for hundreds of weeks and months.
I would drain the old oil, and change the filter with new cheap oil and filter for storage. Old oil is acidic. Remove the plugs and turn it over by hand if it is not in the vehicle. If it is, use the starter to turn it over a few times to pump fresh oil into it. Then put the plugs back in not so tight because you would want to put in new plugs when you revive it for use. Then cover it well until revival.
2X both guys above. I would add to remove the carb. Some rags in the intake just in case of condensation. Duct tape over the holes in the intake then. And of course the exhaust side covered. After you get the gas out of it, Saran Wrap the carb so no bugs get in it.
Power wash as clean as possible while installed.
Drain the oil and then put about a teaspoon of oil in each cylinder and then turn by hand.
Duct tape closed the exhaust ports and intake manifold.
Bag it.
When going overseas I stored a Merkur XR4TI for 4 years once. I did just what everyone has said except I filled the entire engine with 10Wt oil, and filled the cylinders too, and put oil in the gas tank . The clean out took way longer than the storage. When I got back I had a 5 year old car with 280 miles on it.
Since you are in an area that gets really cold it may be a good idea to first try to drain out and flush out the cooling system and then remove the thermostat housing and re fill it with a mix of anti freeze that will provide freeze protection and keep the water jackets from corroding by keeping the air out.
I don't know what engine is being referenced but, if you just take the lower radiator hose loose to dump the coolant, you MAY not get ALL the water out of the block (depending on what engine this is).
Look at the lower portion of the block, just above the oil pan rail, to see if there are any NPT plugs screwed into it. If there are any, remove them to get the remaining water out that's sitting at the lower portion of the water jacket.
This is an example of the NPT drain plug at the lower right front corner of a '90 5.0L engine. There's also another one at the lower left rear corner of the block.
I would also re-oil the cylinders once a year. I had a short block oiled and in a garbage bag on an engine stand in a garage. It started to show a light rust haze on the cylinders after a couple of years.