I have a high mileage 2013 ecoboost (241k miles) and I have a rear coolant line leak (not at the turbo), a valve cover gasket leak and a camshaft seal leak. Mechanic told me it would be 1600 to fix all which is ok but my worry is what other gaskets are about due to be replaced due to so many miles on the vehicle. Most of what I am paying for is labor. Would I be better off replacing the engine w a crate engine for 11k installed or peace meal a repair at a time? Other issue is I keep getting a lean fuel code. I've replaced all the O2 sensors but didn't fix it so i'm assuming I've a leak or an electrical issue relating to the sensor. Overall the truck runs great and looks practically new. I only had it checked out bc I was seeing smoke from burning coolant and the occasional smoke from oil leaking on top of the turbo from the valve cover.
Am I better off:
1. Replacing the gaskets and seals that are bad
2. Replace the engine as a precaution so I can schedule the repair and not be in a bind if I have a catastrophic failure and have to pay for a rental for who knows how long. Engines aren't readily available at the moment.
3. Just replace the loss coolant and oil until I have an engine failure

Truck isn't losing much oil. I've never had to add oil. I do have to add coolant every month or so. The coolant level will go just below the min fill level in about 4 weeks.

 

I was in the same boat as you about 11 years ago with an old Chevy with way too many miles on her. It was a daily driver and I wasnt in the mood to buy a new one. Thought I could get some more out of her..it was a bit over 180K miles ( I was second owner) with oil leaks galore. Ripped apart the engine changing all of the gaskets buttoned it all up and good to go...or so I thought. Check engine came up after a couple of months...more repairs required... Tossed the Chevy and Bought a new truck...

Your just throwing good money away here if its your daily driver. If this is just a trash truck for farm work or weekend adventrures then spend the money but I wouldn't spend a dime more on my old Chevy.. At some point vehicle retirement is emanant..