rethreading thermostat holes from 5/16 to 3/8 ?

thread inserts are huge. I doubt they would have the room on a poly, as the drill is a .488 for this.
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Helicoil would be the smallest OD repair or drill and tap for next oversize....(gasp) metric!
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I used these for a LA pump housing on the bottom 2 holes from the oil pan. They worked great but the initial hole is huge.

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