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Started to hear a knocking noise coming from cylinder 7 or 8 when the rpm's get around 2 or 3 thousand. The knocking will not go away until i shift to the next gear. Hopefully it's not a rod knock but I think it is. If so is there anyway that this can be fixed simply by making an adjustment or in a budget-friendly way? It is a bone stock 4.6 L, also is my daily driver and I need it fixed asap but dont really have money for a new motor. Would it possible to pull one off of a crown vic?
 

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If necessary you can find a used 4.6 in decent condition and occasionally with a warranty or guarantee of some sort for anywhere between $500-$1500. And yes, an engine from a 2001+ CrownVic/GrandMarquis/Towncar is a great candidate as Mustang engines tend to have lived rougher lives. Stay away from engines that may be out of police service or taxis though.

Check ebay, cl, local salvage yards.... If in doubt of the engine's advertised mileage, ask for the vin of the car it came out of and spend $20 on a Carfax report.
 
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