Not sure where you live, but I was considering purchasing a boat with hull damage for the motor (1996 Chris Craft) that has the same model motor (502 APHUE SN# T01284025) and the same model drive (3868156, SN#T00796219). I don't need the drive, only the motor to put into a 94 180 Horizon project. Still deciding whether to buy it or not and what it will cost to dispose of the hull once I pull them out. I'm in west Michigan. The guy selling wants $2000. He only has 119 hours on the boat and he said everything works great. The lower unit looked like it needed a little paint (I think he left it in the water quite often) but was in good running shape with no damage. I looked up motors and drives online and they cost way more for a new or reman. I would check to see how much a local shop would charge to rebuild, or maybe you can find one used off a damaged boat near you. If you are close by we could work something out that would benefit both of us.
Link to the boat:
http://cgi.ebay.com/ebaymotors/ws/eBayI ... MEWAX%3AIT