New member, first post, and I need some advice!

[Bladik]

Hello! I am an owner of a 1998 Explorer with a 5.0 V8. I've got a little bit of an issue with it though, it knocks / ticks. I've been told it was an exhaust leak, but I don't think it sounds like one. It sounds like a bent pushrod or a rocker arm to me. The previous owner had new valve cover gaskets installed before I bought it, but they were installed incorrectly and they were dumping oil. The oil pressure gauge started fluctuating from "normal" to zero. I've fixed the oil leak, and it doesn't leak oil anymore. It already had the knock / tick before It almost ran out of oil. I'm not sure if I should just keep the explorer and fix it, or if I should get rid of it and get a 3rd gen 4.6 explorer. Any help is appreciated, and thank you for reading!

The sound my explorer makes is here:

 

[410Fortune]

sounds like exhaust leak in the video
Your 98 has the welded together exhaust manifolds, they are notorious for having holes in them. these engines will also lose the front bolts on the exhaust manifolds, and once there is a small leak the gasket will blow out and result in a larger leak. Yours sounds like a large leak... a hole in a manifold, missing gasket, hole in the EGR tube or all of the above....

Later in 98 the crappy welded manifolds were replaced with cast manifolds which flow better and are less prone to leaks

With a flashlight look through the wheel wells above the tires, look around the exhaust manifolds and bolts, see if there is any evidence of black soot...this would be the leaky area.
See all of those metal guards?, those things are likely hiding the hole in the manifolds
Also check the EGR metal tube on the passenger side of the engine, it goes from the exhaust manifold to the engines intake, that EGR tube is known for getting holes in it also
The oil pressure "switch" in the engine is not an actual gauge, it is just a switch and has one wire leading to it. They are known to get weak with age and can cause a faulty reading on the dash.
Low oil pressure would cause a lifter tick, your noise is way louder then a lifter tick....it sounds like a larger exhaust leak

If you sell a 5.0 Explorer in favor of a 4.6 Explorer you will be disappointed, the 5.0 is the best drivetrain ford ever put in these trucks IMO

Dorman makes a set of cast exhaust manifolds for your engine for under $100........
to me with that video I would say the person who told you its an exhaust leak is correct

 

[Mike65]

Bladik, welcome to the forum. I have to agree with 410 Fortune it sounds like an exhaust leak.

 

[Bladik]

Thank you all for your advice! I’ll go look around with a flashlight and see if there’s any black soot anywhere near the manifolds. I’ll probably blow some air through the tail pipe and squirt the manifolds with some soapy water and see if there’s any bubbling as well.