Loud engine knocking on 2001 Ford Mustang

I have an 01 Mustang v6, it has started making a loud knocking/tick as I idle or accelerate. I was told by 2 mechanics that I need a new crankshaft and engine, but I cannot get a solid price on the fix. What is this going to cost me? I need to fix it for under 3000 or im buying another vehicle.

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2 answers
in todays market, you may spend more than that for a good used engine. a new motor is around 5500.

Roy
Agree with Roy. A second hand engine is a second hand engine, if you go in and replace it you end up replacing hoses and a few sensors, and if it fails or is noisy the wrecking yards say they will give you another engine, who then pays the labor to remove and refit the engine that didn't work, Second hand engines are always a gamble. Its probably 7 to 8 hours labor just to remove and refit the engine if everything goes smoothly.