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To Fix Up or Trade Up, That is the Question

536 messages,  Last post on Jul 24, 2009 at 9:12 AM

You are in the Maintenance & Repair Forum. Your Host is mr_shiftright

What is this discussion about? Car Safety, Tires, Wheels, Auto Body, Brakes, Engine, Interior, Paint, Transmission, Fuel Efficiency (MPG), Buying Insurance, Coupe, Convertible, Hatchback, Truck, Sedan, Wagon, SUV, Van

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#51 of 536 It's not that rare... by isellhondas May 03, 2005 (6:52 am)
The 4WS Preludes were interesting but they never proved to be very popular or handle any better than the regular ones. They were NASTY to unload from the transport trucks and near impossible to drive in icy or snowy conditions. A real handful if you didn't know what you were doing.   At 130,000 miles there is probably a lot of life left in that Prelude. I'm not sure what you mean by "rot". Even if it's a total rust bucket it is WELL worth the 700.00 you are asking for it.   The last thing I would do is put a Micky Mouse exhaust system on it. I wold sell it AS IS. For 700.00, it's a screaming deal!
#52 of 536 Re: 1988 Prelude [blueiedgod] by Mr_Shiftright HOST May 03, 2005 (7:40 am)
Replying to: blueiedgod (May 03, 2005 5:22 am) Sell it as is for whatever you can get.   I don't know what part of the country you are in, but some parts of the US are more tolerant of rust than others. Here in California, a badly rusted car is basically wrecking yard material.   Installing a complete exhaust system is no easy task, either, even on a lift with air tools and welding equipment. Don't go there, please!   Tell the kid to take it or leave it for $700. You're price is fair enough.
#53 of 536 what is it worth?? by crankshaft May 03, 2005 (5:07 pm)
I have a91 cougar which has a blown head gasket on the V6.it has 84k miles.the body and interior are excellent.the tires were a month old when the head gasket failed.the engine did not overheat and still runs.it is beyond my skills to repair so i bought another car.my question is,what is something like this worth?I hope i can sell it to someone who might want to fix it. Replies to this message: Mr_Shiftright (May 03, 2005 6:47 pm) isellhondas (May 05, 2005 5:47 am)
#54 of 536 Re: what is it worth?? [crankshaft] by Mr_Shiftright HOST May 03, 2005 (6:47 pm)
Replying to: crankshaft (May 03, 2005 5:07 pm) Gee, not much. Maybe $500 bucks? $300? Something like that.
#55 of 536 Re: what is it worth?? [crankshaft] by isellhondas May 05, 2005 (5:47 am)
Replying to: crankshaft (May 03, 2005 5:07 pm) I agree with the host. It's probably not worth fixing.
#56 of 536 Transmission Troubles by saxomafone May 22, 2005 (8:19 am)
I have a '98 Camry with 76000 miles. I just brought it in to have the transmission fluid flushed and new filter. I thought that might solve the problem I have been experiencing earlier this week: the automatic transmission seems to slip between gears, and when it finally does shift to the next gear, I feel a jolt after the switch as I'm driving. The mechanics who flushed the tranny yesterday said the fluid was REALLY dirty.   I had two minor accidents with the car a couple of years ago, and I was planning on driving this one a couple more years to save money and afford some other things. I have had no other major problems with the car, but I would guess I can expect more trouble now as it gets older. I doubt there was any structural damage to the car from the accidents. Both accidents were front end collisions with a car in front of me (both my fault ), but the last one required that the radiator be replaced, along with the hood and one quarter panel.   My questions are: do I have some serious transmission troubles? Is the car worth repairing or is it time to trade up? Do I fix the transmission to get more at trade in, I still owe over $5000 to the bank?
#57 of 536 some ideas here. by Mr_Shiftright HOST May 22, 2005 (11:41 am)
Well if you owe $5K to the bank you are about even up on the loan---that is, you owe about (roughly) what the car is worth.   If the transmission is really ready for overhaul (hard to know by your description---it needs to be diagnosed by a pro shop), then trading it in or selling it with a bad trans makes it near worthless---probably $1,500 bucks. So that's a loss of $3,500 that you will have to pay off.   If you fix the trans for say $2,000, you are in $7K and maybe could sell the car for $5,500---depending on model and condition, so then you are down only $1,500 and the car's totally paid off.   I'd say....IF...the car is otherwise in good condition and IF you can get a decent quote on the overhaul, to fix the car up regardless if you sell or keep it. But if the car has some dents and if the trans is going to cost closer to $3K, it becomes a very close call here....maybe the car can stagger along with the tempermental transmission as is until you can pay down the loan and then ditch the car for cheap.
#58 of 536 best option by yusuf1 May 26, 2005 (2:54 pm)
#59 of 536 best option? by yusuf1 May 26, 2005 (3:59 pm)
hello, all. Got a 1999 Honda Accord with 140,000 miles..Owe about 4200.00 on it..Car does run fine but needs timing belt replacement. Car payment's over $330. Questioning whether I should trade in for something newer for a lower monthly payment, hopefully. Wondering if it's best just to pay off next year hoping that the timing belt won't go as funds are tight to get it replaced or trade in and have another 5 years to pay for that. I know this may be a no-brainer for some of you but I need some reassuring..Thanks and have pity on me..
#60 of 536 well let's see by Mr_Shiftright HOST May 27, 2005 (6:34 am)
I am very much opposed to folding one loan into another. Owing over $4,000 and with 140K on the car, I don't see how you are going to get into a new car with "lower payments", since even if you buy a $12,000 minimalist car, you still owe $12K + $4.2K + interest and that's going to be very close to what you are paying now.   You have no equity in this car is what I'm saying. Its trade in value is very close to your remaining loan.   If I were you, I'd either sell the car privately and pay off the loan, and if there is anything remaining (if you're lucky maybe another $1,000--$2,000 if it's a sharp car and V-6), then use that as a down on another new car OR   Just replace the belt. That's about what....$450?....so it's just another 1.3 months of car payment, no big deal.   That Accord, at the rate you drive (23,000 miles a year) has about two good years left. You have 13 car payments left, or say 15 payments with the timing belt job.   So, given all this info, I'd be inclined to tell you to keep the car and fix it, either to use it up totally (drive it into the ground until it's junk) or to trade it in once your payments are done, in 15 months from now.   Trading it in makes no sense as you don't own most of it. You own maybe the trunk.

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