Since you haven't been in the engine, you have to assume no parts are salvageable. For what it would cost to put an engine in that car, you could buy a running Super Coupe. It is a neat car, but it is worth almost nothing in that condition.

It's not easy but it is expensive. Figure $4,000 on up to rebuild the motor.

Depends on which bearing is "spun", usually refers to rod bearing. So, removing engine, tearing down, getting engine block and heads hot-tanked to remove all metal debris, buying new crankshaft and at least 1 con-rod, replacing ALL bearings (cam bearings also, don't short-dick this one), honing cylinders and replacing rings, re-assembling w/ new gaskets, and re-installing engine is cool w/ you? Figure minimum $1K in parts alone, excluding any machine work you can't do that may be critical (line-boring, cylinder boring, head and block decking), and no guarantee that it will stay together? Go to it. thebax is pretty close on full-on rebuild.

Spun bearing = full rebuild because metal shavings ran thru the whole motor.

If you don't know how to rebuild an engine, walk, better yet, run from this heap.

Car on Craigslist has this description "I've got a 1990 ford thunderbird supercoupe

3.8 supercharged 5 speed rare car needs motor work spun bearing." I am looking into getting a project car and am considering this. How easy and expensive would this repair be? Compared to doing it myself and having a shop do it