[thstone]

Rule #1 when buying a non-running or barely running car: always assume the worst (needs replacement engine) unless you have proof otherwise (not a guess, or a hunch, or hope, or luck).

Rule #2 when buying a non-running or barely running car: its highly likely that there is more wrong than just the engine. Every 18 yr-old high performance sports car has things that needed repair when the engine stopped running.

Rule #3 when buying a non-running or barely running car: it is highly unlikely that you can swap the engine and fix whatever else is wrong and re-sell for profit that will in any way value the time it took to do the work. In other words, fixing it and re-selling will be a hobby project where someone else benefits from the hours that you donated for free.

Buy car = $3500
Replacement engine = $3000
60K major service parts (oil, filter, plugs, fuel filter, cabin filter, brake bleed, a/c recharge, coolant, trans fluid) = $400
Unknown repairs = $500
Total = $7,400 (best case)

Car is worth around $7500.

$100 for 40 hrs of work = $2.50/hr (or something else similarly small)

If you could get the car for $3000 AND have no unknown repairs, then your time might be worth about $20/hr. But the risk is huge - you'd end up losing money AND donating all of your time for free if just the clutch and DMFW needs replacement (both of which should probably be replaced while you have the engine out anyway).

The numbers just don't pencil out - this is why they often get parted out instead of repaired.