The paper proposes applying a precise and low-cost internal combustion engine (ICE) diagnostic method based on acceleration and rundown characteristics. We developed an engine test stand based on and selected diagnostic tools to record acceleration-rundown parameters: a DBD-4 gasoline engine loader and USB Autoscope 4. We established that the injector feed rate significantly affects acceleration time, while the wear of the cylinder-piston group (CPG) significantly affects the acceleration time of the ICE crankshaft. When CPG wear was 28%, acceleration time increased to 15 s, and when the wear was 5% - to 3s. The rundown time significantly depends on the outlet resistance and increases with an increase in the degree of CPG wear. Applying the developed method reduced the fuel consumption of the test engine by 21%.