Well crap! Advice needed with shot engine

[finaltable]

I am not trying to make money on this car. I paid 2K for it, well below market because the owner was leaving the country and wanted to get rid of it quickly. I got it in stock configuration and it is still in stock configuration. Right now, however, it has a rod knocking so anybody looking to buy this car is going to know going in that it needs some serious work from the get go.

My options are:
1. Put a new engine in it so I can sell it for something nearer to what I paid
2. Sell it as is, taking a huge hit for the engine problem.

What I really don't know is what a person looking for a Mk III would pay for the car as it is right now. If it is worth 2K with a working engine but only $500 with a messed up engine then even putting $1K toward the car is worth it.

As part of my considerations, a friend of the family restores cars and will do the swap so labor will be negligible. Most of the cost will be the engine itself if I go that route.

[supramacist]

Originally Posted by finaltable

I am not trying to make money on this car. I paid 2K for it, well below market because the owner was leaving the country and wanted to get rid of it quickly. I got it in stock configuration and it is still in stock configuration. Right now, however, it has a rod knocking so anybody looking to buy this car is going to know going in that it needs some serious work from the get go.

My options are:
1. Put a new engine in it so I can sell it for something nearer to what I paid
2. Sell it as is, taking a huge hit for the engine problem.

What I really don't know is what a person looking for a Mk III would pay for the car as it is right now. If it is worth 2K with a working engine but only $500 with a messed up engine then even putting $1K toward the car is worth it.

As part of my considerations, a friend of the family restores cars and will do the swap so labor will be negligible. Most of the cost will be the engine itself if I go that route.

You are in over your head and you aren't quite quick enough to realize that you got boned.

I bought this great car under market value. With rod knock.
2k for any engine replacement. Probably the same to rebuild what you have.

Hows that bargain looking now??????

Everyone wonders why those of us that stick it out with these cars are so hardcore. It's because any fool can buy a supra.

It takes a real gear head to keep one running, and you are quite possibley one of the many posers that have no business getting one.

If the alternator belt stumps you..., there's another guy around here that just figured it out. You 2 should start a clicke.