I'm at the point where I need to either fix up or replace my car ('96 Elantra wagon). The book value is around $1500, but that only counts when selling (if I fix it up, I plan on keeping it for as long as it keeps running). I realize that the fix-up would cost more than the book value, but there are some things I like about it that are not available on ANYTHING in current production ("Driver's wallet clean" testing is 2-gas tailpipe sniff, which is easy to pass, good sightlines, no "detonate on impact" bombs in the passenger compartment).
If I were to replace it, something with the features I'm looking for would start around $10,000, and I'd probably need to budget around $1000 for maintenance items the previous owner deferred. Also, I'd probably need to spend around $2000 to get the glass behind the "B" pillar replaced (I *HATE* deep-tint glass).
The fixing up it needs includes body work (2 quotes - $3500 from an independent body shop, and $600 from a friend of my regular mechanic who moonlights after his regular job at a body shop), timing belt/water pump ($400), brakes ($440), rear springs (originals have sagged) and struts ($575/$675 depending on whether I get OEM springs or heavy-duty aftermarket springs), and tires and alignment ($500/$600 depending on whether the tire place still has stock of an older-model tire or whether I need to get the current model). There are a couple minor items each in the $100/$150 range. Also, my car doesn't have air conditioning - mechanic said it would be around $600 to transfer a system from a "donor" car, and I'm allowing the book value ($1500) for an "air conditioning kit in a self-propelled packing crate". Depending on the options I go for, it would be somewhere between $2775 and $5775 to fix up my car, plus around $2000 for the air conditioning.
I'm leaning toward the fix-up, and the cheaper bodywork quote. Going by a $1000/year rule of thumb, I don't see any problems getting another 5 years out of my car if I fix it up, and 8 years (based on the higher body quote) is still highly probable. Getting 13 years out of a replacement would be around the same probability as getting 8 years out of mine.
Anyone have an opinion on what route I should take?
If I were to replace it, something with the features I'm looking for would start around $10,000, and I'd probably need to budget around $1000 for maintenance items the previous owner deferred. Also, I'd probably need to spend around $2000 to get the glass behind the "B" pillar replaced (I *HATE* deep-tint glass).
The fixing up it needs includes body work (2 quotes - $3500 from an independent body shop, and $600 from a friend of my regular mechanic who moonlights after his regular job at a body shop), timing belt/water pump ($400), brakes ($440), rear springs (originals have sagged) and struts ($575/$675 depending on whether I get OEM springs or heavy-duty aftermarket springs), and tires and alignment ($500/$600 depending on whether the tire place still has stock of an older-model tire or whether I need to get the current model). There are a couple minor items each in the $100/$150 range. Also, my car doesn't have air conditioning - mechanic said it would be around $600 to transfer a system from a "donor" car, and I'm allowing the book value ($1500) for an "air conditioning kit in a self-propelled packing crate". Depending on the options I go for, it would be somewhere between $2775 and $5775 to fix up my car, plus around $2000 for the air conditioning.
I'm leaning toward the fix-up, and the cheaper bodywork quote. Going by a $1000/year rule of thumb, I don't see any problems getting another 5 years out of my car if I fix it up, and 8 years (based on the higher body quote) is still highly probable. Getting 13 years out of a replacement would be around the same probability as getting 8 years out of mine.
Anyone have an opinion on what route I should take?
Comment