BMW Repair: 88 325 is, little cars, 325is

Question
i have a 88 325is 5 speed its knocking. had it looked at by a mechanic, not a specialist. he says it sounds like a broken wrist pin. do i need a new/ used motor? what do you suggest? i love my car and i dont want to junk it. should i buy another 325is to save $$$$$$$$ please help me. i look foward to hearing from you

Answer
Matt,
 Unfortunately there is no perfect answer to your question.  You will have to weigh-out the differences to see if it's worth it to you.  If you are mechanically inclined and can tackle this yourself, then it would be a very cost effective option.  

 First off, if the engine is knocking, it's extremely rare to pick out the problem by just listening.  It could be a rod knocking (most common), it could be a valve train issue (how long has it been since you had the valves adjusted?), or a host of other things.  You need a trusted mechanic that is not going to take advantage of you.

 Chances are that you can have your engine rebuilt if there is indeed something terminally wrong with your engine.  Price would really depend on where you take the car to have the work done, and what part of the country you live in.  If the car is in good shape, and the chassis is relatively low mileage (around 100k miles) it's probably best to just rebuild the engine.  That way you will still have a nice car, and it will last for another 200k miles at least.

 If the car is shabby, and well worn, you might be better off to upgrade to a later model car.  I love these little cars, but there is no magical way to keep mileage off of them.  Nice ones are getting fewer and fewer, so if you are thinking of buying another one, hold out for a low mileage one (less than 100k miles).  At 100k the timing belt, and water pump will need replacement, so factor that into your budget.

 I have done it each way, bought nice ones, and bought broken ones and fixed them.  Either way seems to work out the same (price wise).  But unlike yourself, I did all the work myself, and labor was not a factor in the cost of my vehicles.

 Do what's best for your wallet, if you plan on keeping the car for a while(another 5-10 years) then rebuild the engine.  If you trade/buy/sell cars often, I would probably tell you to get out while you still can.

 Hope this helps,
 Josh