Last yr our 2007 GC SXT suffered oil pump failure in the 3.8 at 81,438.2 mi. We were going 72mph and by the time we noticed the lack of power(no oil light whatsoever) the engine was rattling badly.
This is a loaded(options wise) SXT with not a scratch or dent anywhere, new tires and battery and clean no smoker, inside like new. That's the good.
The bad is we still owe $8.2K on the loan, and replacement engines have way more miles than the body and it would cost $3-4K to rebuild ours and I have to remove/install myself at that price.
I do not need the Caravan as we also have a good 2008 Suburban Z71 that likes fuel but is stone reliable, and the bank is ok so long as we pay the payment and maintain insurance so..
Right now we are making payment and insurance for it, and it's worthless without an engine but if I would parts it out am I better or worse off parting it out?

 

Try www.car-part.com I found rebuilt engines with 100k warranty for $2100. I also found several with around 64k miles for $1000. You will have to see what is in your area on this site. I think $8.2k is a bit upside down on the loan even if there wasn't any engine issues. Anyway I have used that site for years with mixed results but usually good. My opinion is if the rest of the van is good then replace the engine and use the vehicle. You will be hard pressed to get $2000 out of it parting it yourself. So if you do this yourself with the $1000 64k mile motor it will probably run you less than $2000. This is assuming you need to buy a engine hoist, new battery since it has sat for a while, new fluids, radiator hoses, belt, belt tensioner, belt idle pulley, spark plugs and wires and water pump since the engine is out. Also the 3.8 was a really reliable engine and was fairly descent on fuel although it wasn't very powerful for its size vs more modern engines like the new 3.6 pentastar. Oil pump failures are rare usually these engines just wear out from high mileage.

 

ya for that loan I be really thinking on a engine. you got to much to loose. specially when u have some time to search out a engine.

 

I agree, the loan seems upside down, we bought used in 2010 and what we thought was a 1 owner "cream puff" for $15,290 w/52K mi. All paperwork, PO paid $31,782.43 in 2007 for it, half price seemed about right. It will be paid off in 2 yrs, 3 mo or so, no matter what.
What happened is the relief valve in the oil pump stuck open and although there was enough oil psi to keep the light off, the cam and rod/main bearings were scuffed up badly and all that bearing material went everywhere in the engine.
We run a yard care business and have a shop and tools to do driveline and bodywork everything to our trucks and equipment and it's just another day for my shop mech.
I'm sorry, buying parts by the lowest price has not worked well around here, from wheel bearings to rebuilt transmissions and radiators and most everything else low bucks means 80% replacement in less than 18 mo on the work trucks.
The only reason we have the GC is the 'burb is intimidating for my 5'2" wife driving to the mall and stores and actually most everywhere. The GC is a breeze for her and hauls everyone in comfort and has room for all the things you haul day to day. Of course we can do all that with the burb also. And that's why I would consider parting it out.