Originally Posted by pinionlc
What I would like to do is make it to where this engine/car can drive, even if it does knock or suck coolant. I plan on getting a new car in the next 6 months after I move, and would like to use this as a little trade in for a down payment....even if I could get it running and driving just long enough for the auto guys to drive it a few miles I would be happy.
Well, it could turn out to be a waste of your money. But you will gain experience and that may be worth the cost of the engine gaskets. Your throttle body needs to be cleaned. You could just clean up the TB and all of the gasket sealing surfaces; install new gaskets and see where it goes.
I would be most concerned about the knock you heard coming back to bite you. If the knock was a bearing (probable), understand that it will not go away, but only get worse, and eventually stop you cold. And that is most likely to happen a lot sooner than six months. Also, an engine with a bearing knock is worse than worthless when you try to give the car away. The only person who would be willing to buy the car (and not for much) will be someone who has access to a cheap engine or who needs the car for parts.
Your only hope is that the knock you heard was caused by something else and that it will go away when you have re-sealed the engine. But, your original description sounds pretty much like a bad bearing. Just understand that you will just be gambling the cost of the gaskets and your time against the probability that your engine will still be knocking when you are done.
The most economical way to ensure a long-term fix is to replace the engine with a good junkyard engine. There are some u-pull-it yards where an engine can be had for under $200.
Now a word about trading in cars and using them for down payments. This is a costly choice. You will save more money by buying your newer car without a trade, and selling your old car yourself. Dealers make a living by profiting on both sides of the sale while making you think you got a good deal. They are good at it. It'* what they do.