Not so fast, say the Engine Repower Council (ERC) and the Car Care Council (CCC). According to both organizations, it may make more sense to rebuild your vehicle, especially if it's the engine that is giving you (and your bank account) fits.
"When a car or truck suffers major engine damage, often the first reaction of most consumers is to buy a new or used vehicle," says EPC chairman Rick Miller. "In some cases that might make sense, but often it's simply not necessary. And it's a very expensive proposition compared to re-powering your car or truck's worn out engine with a rebuilt/re-manufactured engine."
Besides long-term costs, the article discusses other advantages of rebuilt engines, many of which are at least as good if not better than the original ones due to better components, designs and materials. Rebuilt engines are also more environmentally friendly since they may use recycled parts, materials and have to comply with current pollution standards. Finally, rebuilt engines are usually backed by one-year warranties.
[Source: The Auto Channel]