I was wondering about blankets, too. In the aviation world, our 540-cu-in (what's that, 8.8 liters?) air-cooled flat six engines don't like to start much below freezing, what with the weak starters and tiny batteries. And you do a world of hurt to them when you do, because the oiling systems on these engines also have significant weaknesses. So, for cold weather flying, you always 1) preheat below freezing, usually with a gas-fired heater blowing hot air over the engine, and 2) keep a blanket to cover the engine. If you're just shutting down for a little while (the $100 hamburger trip), the blanket will keep the engine warm enough to start right back up.
Used in conjunction with an engine heater of some sort, I think a mylar blanket on top of the hood might really help. Can anyone think of a downside? Not worried about scratching the paint, the car's 14 years old and looks it.
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