I'm kinda new to the site and I'm handy with cars.. But raring down an engine is out of my league.. I have 3 mustang and one is. 93 cobra that has seen better days.. I'm wanting to rebuild the motor.. It has a very slight knock but I lose oil pressure when it warms up (bearings my guess) what range of cost am I looking at.. I will probably pull it myself but what it's gonna cost to get her going again...l any info thanks guys!!

 

Rebuild of the GT40 heads, includes 5 angle cut, new valve guides and seals, about 500.00; more if they need to be machined for trueness. Improved rockers, your choice.

Block... if not damaged, a couple hundred to hone and clean up the cylinders, new freeze plugs and a slight shaving to increase compression ratio, and to evenly mate with the heads.
New pistons??? 350.00 to 800.00, depends on HP desire...
rod and crank bearing kit... needs will depend if crank can be simply polished or if needs a grind...150.00 to 400.00
Off the shelf cam or custom grind??? HP needs dictate...125.00 to 500.00
High flow oil pump, new ARP head bolts, distributor shaft, timing chain and gears, another 300.00 to 500.00

Simply put, expect to spend 3500.00 complete as a medium. You may do better on costs, depending on the condition of your block and it's internals. It is sometimes cheaper to buy a Ford crate motor, and simply swap over your intake and accessories. I think they still come with a 1 year or 12000 mile warranty. If installed at a dealer, it may run 3/36k.

 

Id check local auto recyclers and get a low mile short block out of a explorer. Should be 300-500 for one. Then rebuild the heads myself and drop her in.

 

Better out of a explorer?

 

No, just newer. The Explorers were the last vehicles to have the 5.0l so the odds of a good low mile one is better.

The short block itself us the same as used in 94 95 GTs and cobras.

 

http://www.modmaxracing.com/SearchRe...13&Search.y=16

 

There's no 302 blocks :S