Well, crap.

[Parrothead]

I drive a 1997 Acura 3.2 TL, and have for the last ~7 years.

My head gasket and radiator blew on Saturday.

According to the family mechanic (who I bought the car from in the first place, and have been servicing the family autos for 30+ years) it will be cheaper to replace the engine, rather than the radiator and head gasket.

Replacing the engine will run about $3000 (based on the age and mileage of the car).

I also had to fork over $400 for a new EGR valve at the beginning of November.

They also have a 2002 Toyota somethingorother for sale for $6000.

There is a used dealership that has a 1998 Honda CR-V for sale for $2217 (plus tax, tag and title).

I get to decide if I want new-to-me car, or fix the one I got.

Current value of the Acura is ~$1500, btw. (around 200,000 miles on it).

So how was your weekend?

[42_42_42]

Personally, I would never put more money into a car than the car is worth.

[wolfie]

Other than the engine issue, is the car in good shape? What I'm getting at is - if you fix or replace the engine, will you have dealt with ALL the car's problems, or are there other bits that are going to cost you money in the near future? If the latter, you're better off replacing the whole car.

If the rest of the car is in good shape, how much would it cost you to get a replacement car in the same condition (except with an engine/rad that aren't blown)? Remember to allow at least a thousand or so for deferred maintenance items. If it's cheaper to fix the car than to replace it, fix it, even if it's more than the book value. Going strictly by "don't spend more than the book value" would mean my car is toast next year (maintenance schedule calls for a new timing belt). Book value has dropped far enough that if someone were to smash all the windows (damage that you know before starting the repair how much it will cost to fix) my insurance company would write it off. Heck, they'd probably write it off if the tires were slashed.

[Parrothead]

I'm going looking tomorrow with my dad. I think I've found one I want for about the cost of the engine.

[sms001]

I agree, wolfie. If you've had a car for seven years, you have a pretty good idea of what might be coming down the pike. Good rule of thumb otherwise though.

Parrothead, it could have been worse: your options could have been clustered together around one price point. THEN you'd have guessed wrong no matter what. At least this way you have a fairly clear best choice. Good luck shopping.

[auntiem]

For the record, my folks have an old Honda CR-V and they adore it!. Excellent road trip car - it has gone across country many times and is super comfortable to ride in.

[Parrothead]

Dad has a CR-V, too. Has about the same gas mileage as the Acura (and doesn't require premium gas)