F250 / 5.4 motor has a bottom end knock

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Hey Guys,

I just purchased a 1999 F250 x-tra cab 4x4. i love the truck, but the engine has a bad knock in the bottom end. It does run, but the knock doesn't go away. I've been told that several of these 5.4 mod engines have this same problem. I assume its a bearing or rod problem. I've been told that I may be able to pull the plug wire to locate the cylinder, then pull the pan and change the bearing / rod for that cylinder. Does that sound right? The truck has 110,000 miles on it. I got a price from Jasper engines for a new longblock for $3500, but I don't really have that much I can spend. I don't know too much about internal engine "stuff" so I would appreciate any help youguys can offer.

Thanks everyone,
Mach