Now that you have determined that your engine is worn out, you must make some decisions. The question of whether or not an engine is worth rebuilding is largely a subjective matter and one of personal worth. Is the engine a popular one, or is it an obsolete model- Are parts available- Will it get acceptable gas mileage once it is rebuilt- Is the car it's being put into worth keeping- Would it be less expensive to buy a new engine, have your engine rebuilt by a pro, rebuild it yourself or buy a used engine from a salvage yard- Or would it be simpler and less expensive to buy another car- If you have considered all these matters and more, and have still decided to rebuild the engine, then it is time to decide how you will rebuild it.
Most engine machining should be performed by a professional machine shop. Don't think of it as wasting money, rather, as an assurance that the job has been done right the first time. There are many expensive and specialized tools required to perform such tasks as boring and honing an engine block or having a valve job done on a cylinder head. Even inspecting the parts requires expensive micrometers and gauges to properly measure wear and clearances. Also, a machine shop can deliver to you clean, and ready to assemble parts, saving you time and aggravation. Your maximum savings will come from performing the removal, disassembly, assembly and installation of the engine and purchasing or renting only the tools required to perform the above tasks. Depending on the particular circumstances, you may save 40 to 60 percent of the cost doing these yourself.
A complete rebuild or overhaul of an engine involves replacing all of the moving parts (pistons, rods, crankshaft, camshaft, etc.) with new ones and machining the non-moving wearing surfaces of the block and heads. Unfortunately, this may not be cost effective. For instance, your crankshaft may have been damaged or worn, but it can be machined undersize for a minimal fee.
So, as you can see, you can replace everything inside the engine, but, it is wiser to replace only those parts which are really needed, and, if possible, repair the more expensive ones. Later in this guide, we will break the engine down into its two main components: the cylinder head and the engine block. We will discuss each component, and the recommended parts to replace during a rebuild on each.