Thrown Rod / Blown Head Gasket???

[Bay Dog]

Well I think this is the end of my 240? Over the weekend, I noticed that when I downshifted i blew white smoke out of the exhaust. Not 10 minutes later it was dead. Towed it home, started it up, checked the oil and it is gray on the dipstick. Gunmetal gray color. The engine knocked horribly when I started it. IF there is an upside, it's that from what I could tell, I didn't blow out any fluids. Any thoughts here? I called my local dealer and they want $4000 installed for an engine. That's more than what I paid for te car itself. Suggestions and thoughts appreciated. Is it time for it to go???

It's a 1990 se, ka24e engine.

Thanks, Kurt

[drjohn]

Call around to the junk yards and see what a used one goes for. You can use a KA24E from a truck if need be. Should be around $400- $600 depending on the mileage on the engine.