Rebuild or Replace: That is the Question

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Protege5
As some of you probably already know I bought an 02 P5 with a smoking problem. I have pretty much narrowed it down to faulty oil rings.

I could put rings in the engine without pulling it. The parts/labor cost for this is around 4-600 dollars. This is all assuming the crank is good (it has a slight knock when cold, quiet when warm), and the bores are square. I'm not confident in either of those since the engine has 160k.

Or, I could buy a JDM import engine on Ebay for 800 bucks. Swap it in and run it. Sell extra parts/old engine and make a little money back.

Right now I'm really leaning toward just replacing the engine.. The JDM engines have a lot less mileage, and the car would be down for a weekend instead of a week or more. I have a good engine hoist and the means to do the job pretty easily.

Does anyone have any experience with JDM engines? JDM engines corp has one for a little over 800 shipped.. I've read good and bad about this company. I can also get one one on Ebay for around 900 shipped, that has been compression/leak-down tested.

https://www.ebay.com (commissions earned)

https://www.ebay.com (commissions earned)
 
The rest of the car is in great shape. It runs and drives great now, just smokes like a freight train for 3 minutes after you cold start it.
 
I bought a beams swap from jdm engine corp for one of my celicas last year. Was as promised and no issues.

I'll probably buy an engine for my p5 when it goes from them as well.
 
I bought a beams swap from jdm engine corp for one of my celicas last year. Was as promised and no issues.

I'll probably buy an engine for my p5 when it goes from them as well.

That's kinda what I figured. For every one bad review there are 100 good experiences. It's par for the course when selling used engines that you know nothing about.

I need to wait a week or so for my finances to stabilize, and then I will get the engine ordered. I figure I will replace the clutch and motors mounts while doing the job.
 
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