ENGINE IS KNOCKING BAD

Question: 2000 FORD ESCORT 2.0 L4 PFI SOHC V8 ENGINE IS KNOCKING BAD. GOT REALLY LOW ON OIL A FEW MONTHS BACK, SO THERE MUST BE INTERNAL DAMAGE. CAR IS STILL RUNNING, NO LEAKS, BUT CONSTANT KNOCKING NOW. SHOULD I REPLACE WHOLE ENGINE, BUY ANOTHER VEHICLE? TRYING TO FIGURE OUT WHICH WAY IS CHEAPEST. Answer: You are right in thinking the engine is bad, but one way to confirm that it is internal is to remove the serpentine belt and start the engine, if the noise goes away then this means your tensioner,water pump, alternator may be the cause of the knock. If the noise continues with the belt off, then you have confirmed that the damage is internal. As for making the right choice on replacing the engine. You would first want to review your plans for the car. Having a junk yard install a used engine might look like the cheapest route to take but you will want to consider the warranty. Most give you a 6 month warranty... not to good in my opinion. Or you could have a Jasper engine http://jasperengines.com installed that comes with a 3 year/100,000 mile parts and labor warranty. It costs much more but you can rely on the engine for years. So if you are planning on selling the car in a couple of months , then the used engine is the route to take. If you are planning on keeping this car for a long time, I would have a new engine installed. If you hate the car even before it went south.... Buy another car.