Deftenigma

I have an AE86 SR5 Corolla.
Bad brakes, bad tires, no power steering, needs tags, needs smog. There is someone willing to trade his 1990 240SX for my car. I very badly want a 240 and to be rid of 86. His car is on non op and he has the pink slip on hand. He says his car doesn't run due to a "rod". I realize this might mean metal hit metal and might need a new engine. I looked up a rebuild kit and it costs about 400$. Will the rebuild kit fix this kind of problem? My car is my dd and I use it all the time, it's reliable. I guess what I'm asking is, is it worth it or stupid?? I would greatly appreciate all the input, thank you very much.

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