rebuild or replace?

[stephen]

I just bought my '92 SHO last July. It ran fine for three months, but after two incidences of 8000 rpm revs that lasted about 5 seconds on the interstate due to a stuck faulty acellerator cable coupled with low oil, a rod started knocking not long afterwards. It can still run, but I don't take it anywhere. I really love this car and would love to be able to salvage it if financially possible. Would it be better to look for a new engine rather than pay someone to rebuild it? How much do you think I would be looking at, either way? Is it idiotic to try it myself if I find someone to lend me a space in their garage( I have never done anything on a car past replacing plugs, wires, and hoses on a 79 Corvette)?

 

[Mr Anonymous]

3.0L SHO motors are plentiful on the used and recycled market, and ultimately might prove to be the most cost-effective solution.

Expect to pay anywhere from $150-$300 for a good complete 3.0L motor, and anywhere from $500-$1000 for labor if you don't do it yourself.