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I have a '99 Ford Ranger with a 3 liter engine that has recently seized. Rebuilding the engine myself is not an option, so I have 3 others to choose from:
1. Buy a new Ford engine and have it installed. This is the most expensive option, but in my estimation it's the least likely to have any ongoing issues or problems following the rebuild.
Has a Ford 3 yr 75K mile warranty.
2. Buy a wrecking yard used rebuilt engine. This costs about $500 less, carries no warranty, and in my estimation the quality of the rebuild is the variable.
3. Rebuild my existing engine. This is the least expensive option, carries a 5 yr 100K mile local warranty, and in my estimation is less likely to have subsequent problems since the engine will be opened up and any problems would be discovered before reinstallation.
I'm hoping that those of you with more experience with rebuilds than I have would be willing to offer me the benefit of your advice and experience.
I'm leaning toward the Ford replacement or rebuilding my existing engine, and trying to figure out if the rebuild savings are worth it, or if I'll have fewer headaches throwing money at the new engine.
I've actually had very good luck with junkyard motors. I think it is going to be a lot less that $500 cheaper than having a Ford Dealer install a New Ford 3.0 long block. The junkyard motor is going to cost about $1000 for lower miles, and you should be able to find a good local shop to do the install for under $1000. I think the Ford engine alone is going to be over $2000, plus install.
You can get good motors you can get bad motors from all the aformentioned sources. It is the luck of the draw. I have used a number of salavage yard engines and trannies and had no real issues. Kinda the way I look at it they where being driven when wrecked. Most yards will give some warranty, most have noted the mileage shown on the odometer when the engine was pulled.
I believe I would go with a ford create motor myself, having one rebuilt isn't bad, but the rebuild is only as good as the builder. Could be good, or not so good. Even if it is warrented, it's still a hassle having to fool with it time and time again. If you know the builder to do good work, then thats an ok option.
You probably cannot do a rebuild for $500. You can do a partial, but having the crankshaft and camshaft bearing surfaces reworked will cost almost that much in machine shop time. Maybe more, depending on where you live. Then you have to buy rings and bearings, have the bore cleaned up, maybe new pistons, maybe some new valves, some new lifters (12 if you have the cam done), and gaskets.
Depending on your wallet, the least expensive is a used engine. You can inspect them before you buy if the seller is on the up and up. You could probably wander around a yard and pick the engine you want based on the condition of the rest of the truck, including mileage.
If you have a hoist, you can do an engine on a Saturday. You can rent hoists by the day, or if you think you will use it more than a few times, buy one. Owning a hoist sure takes the pressure off to get things done by some else's deadline.
At least you won't have to remove the cab from the frame to pull the engine as required(suggested?) by the F150 engineers.
tom