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Q: Knocking caused by bearing. Need to replace engine? on 2001 Toyota Corolla

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My son was driving it off the freeway. He was on the off ramp when he started hearing the knocking. The dealer told me it was a bearing causing the knocking and was unreapairable. I would need a new or rebuilt engine.
Everything is repairable.

But sometimes, the cost of labor does not warrant repairs verses the cost of a rebuilt engine. That's what you need to look at - the cost of overhaul or partial engine overhaul in shop, the time it takes to do it, the unknowns that you will run into upon tear down...verses....a known cost, known time frame, and known repair success.
The car has 145,000 miles on it. I plan on keeping it another 2 years. Is buying a rebuilt engine and having it installed what you mean by a known time frame, and cost?
I think we didn't connect on this -- here's what I mean.
With a rebuilt engine, the major time consuming portion (repairing / replacing crankshaft, bearings, etc etc etc) is eliminated. Sending a cylinder head out for reconditioning or repair or even inspection and cleaning is eliminated.
Instead, you have an engine removal, parts swap from the old engine to the new one, and installation.

The time frame to tear down and repair an engine is far longer than replacing the engine with a rebuilt unit. (unknown time frame verses known time frame)

The cost - you won't know the final cost of repairs for repairing your engine until it is in many small pieces in the shop. This is because they don't know the extent of the damage until tear down.

Having a complete assembly to install - the cost is already known for the most part. (unknown cost verses known cost)...
No Don't let a dealer tell you that you need a new engine. I Have a 2002 Corolla and it has 357k miles on the engine. I have redone a lot of the seals and timing chains over the years but the same bearing noise has been around since 119k miles. Don't let them make money off you!
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