Ford Repair: Replacing the engine in a 1998 Ford Explorer, ford motors, best bet

Question
Hello, The timing belt in my son's 1998 Explorer broke and, according to the dealership, "ruined" the engine.  The service department is telling him that he needs to replace it at the estimated cost of $5,000+.  He still owes $8,000+ on the loan.  Is the  dealership's price to replace the motor realistic?  Is it worth it for him to fix the car, or take the loss and replace the whole vehicle?  If he decides to sell the car, how should he go about it to get the best deal?  Thank you for sharing your opinion.

Answer
Rev. Ball-

  $5,000 is well beyond what I'd consider reasonable.  Even a brand new motor should cost in the $3000-$3500 range...leaving $1500-$2000 for installation?  That's ridiculous.  What happens on Ford motors when the timing belt breaks is that, since they're not what are known as "free running" engines (where, if the timing chain or belt breaks there is no engine damage), the valves that are open will stay open and the pistons will hit them...ruining the valves for sure and possibly the pistons.  I'd say your best bet would be to find an engine shop nearby and have them rebuild it.  It's only in extreme cases that an engine can't be rebuilt and I'd say the whole thing should cost right around or less than $2500 or so.  Just make sure you get a quote and know exactly what they plan to do.  Hope this helps.

Steve