Rebuild Time?
#16
12-13-2012, 07:25 AM
I'm with you on that. I'm nearly there myself. Been spending waaaaay to much time on finance forums lately. If this question came up on any of those boards, the first comment would be "If you are making payments on a 10-year old car with 175K miles, you can't afford that car"
Wrapping up that much debt in a car with nearly 200K miles just doesn't make sense to me either. At that point, I'd drive the car until the wheels fell off and ditch it. At 200K miles, a lot of stuff is worn out and cars tend to turn into money pits.
Of course I know the OP doesn't want to hear that, but unless you are rolling in money, pouring that kinda of debt into a depreciating asset (poor word for a car) does not make sense.
Wrapping up that much debt in a car with nearly 200K miles just doesn't make sense to me either. At that point, I'd drive the car until the wheels fell off and ditch it. At 200K miles, a lot of stuff is worn out and cars tend to turn into money pits.
Of course I know the OP doesn't want to hear that, but unless you are rolling in money, pouring that kinda of debt into a depreciating asset (poor word for a car) does not make sense.
#17
12-13-2012, 09:29 AM
The finance forums are exactly where i'm coming from. And that quote is exactly what they would say.
We are telling the OP a lot of things he might not want to hear but it can make some sense. The $4k loan (not sure how he is getting it, not important) could be used to buy a beater if any case or pocket it and drive the G into the freaking ground. This isn't high school where you get your first car and fast and furious just released and your instantly dropping money into the car (I did that).
If your stuck on getting a used motor, drive the car as is and wait for the motor to cook itself. Your going to scrap the motor anyways. An 03 G35 sedan with 200k is worth about $5-6k to me if i was to buy. Seeing as early sedans show up once in a while with 125k asking $7.5-8.5k
We are telling the OP a lot of things he might not want to hear but it can make some sense. The $4k loan (not sure how he is getting it, not important) could be used to buy a beater if any case or pocket it and drive the G into the freaking ground. This isn't high school where you get your first car and fast and furious just released and your instantly dropping money into the car (I did that).
If your stuck on getting a used motor, drive the car as is and wait for the motor to cook itself. Your going to scrap the motor anyways. An 03 G35 sedan with 200k is worth about $5-6k to me if i was to buy. Seeing as early sedans show up once in a while with 125k asking $7.5-8.5k
#18
12-13-2012, 10:38 AM
#19
12-13-2012, 04:52 PM
so after all said and done you will owe $7k on the car or w/e type of loan that $4k is in.
you seem pretty stuck on going forward with this but i'm just seeing the $$, why rebuild the trans?
If your going as far as getting a MOTOR put in, find one already mated with the engine. It will not be $1000 more. My personally i would just scrap all the ideas. Drive the car as in, worst case would be the broken guide/ tension gives and you kill the motor. Then you go back to original idea of swapping motors. BEST case if doesn't give out and take it to 250k with everything as in, pay off the car by then and be debt free. Yea you dont get a S/C or anything but you wont owe anything. And your better off getting into the next car.
People who do motor swaps are generally people who can do it themselves saving money. There are better ways to spend that money, but in the end its what YOU want to do. If it makes you happy then do it. I'm just focused on becoming debt free and staying that way.
you seem pretty stuck on going forward with this but i'm just seeing the $$, why rebuild the trans?
If your going as far as getting a MOTOR put in, find one already mated with the engine. It will not be $1000 more. My personally i would just scrap all the ideas. Drive the car as in, worst case would be the broken guide/ tension gives and you kill the motor. Then you go back to original idea of swapping motors. BEST case if doesn't give out and take it to 250k with everything as in, pay off the car by then and be debt free. Yea you dont get a S/C or anything but you wont owe anything. And your better off getting into the next car.
People who do motor swaps are generally people who can do it themselves saving money. There are better ways to spend that money, but in the end its what YOU want to do. If it makes you happy then do it. I'm just focused on becoming debt free and staying that way.
I agree, but if i drop this car now, find a newer sedan less miles i'm really gonna be in debt. As far as driving it till she goes, i travel around 200 miles kinda often i don't want a break down when i'm over 2 hours from home. I found a motor with 40k shipped to my door for 2000. then 500 for install, i may do it myself i can just don't have the time. I'm done. The only reason i wanna spend the money on the trans is because i wanna get the trans-go thrown in at the same time.
I dont know, damm you are making me think hard on what to do haha. Thanks for your advice though, i haven't made any decisions yet. maybe i could wait till spring rolls around and do this swap then.
#20
12-13-2012, 10:56 PM
If you spend the money on a used replacement engine and it works out, will you be satisfied?
I argue all the time with people at work that try to sell me on the merits of leasing, but at the end of the day, I wouldn't be happy renting a car.
I just spent $700 to upgrade the tired suspension on a car worth 8k, maybe. The spreadsheet/sliderules would have told me this was ludicrous and the $700 should be put towards a newer car.
But was it ? Not to me.
Mike
I argue all the time with people at work that try to sell me on the merits of leasing, but at the end of the day, I wouldn't be happy renting a car.
I just spent $700 to upgrade the tired suspension on a car worth 8k, maybe. The spreadsheet/sliderules would have told me this was ludicrous and the $700 should be put towards a newer car.
But was it ? Not to me.
Mike
#21
12-14-2012, 07:59 AM
If you spend the money on a used replacement engine and it works out, will you be satisfied?
I argue all the time with people at work that try to sell me on the merits of leasing, but at the end of the day, I wouldn't be happy renting a car.
I just spent $700 to upgrade the tired suspension on a car worth 8k, maybe. The spreadsheet/sliderules would have told me this was ludicrous and the $700 should be put towards a newer car.
But was it ? Not to me.
Mike
I argue all the time with people at work that try to sell me on the merits of leasing, but at the end of the day, I wouldn't be happy renting a car.
I just spent $700 to upgrade the tired suspension on a car worth 8k, maybe. The spreadsheet/sliderules would have told me this was ludicrous and the $700 should be put towards a newer car.
But was it ? Not to me.
Mike
#23
12-18-2012, 07:42 AM
Leasing is good for *some* people, but for most, they are better off purchasing. Given the fact that you have zero equity in your car at the end of the lease, you end up spending more in the long run. This is even compounded if you get shorter term leases and live in a state with excise tax. Those first 1-2 payments can be $2K or more, vs the dwindling payment on a 3-5 year old car.
Sure you get a nice new car all the time, but you don't own it and you'll spend more for that luxury even if you leased a cheaper car.
<ends cheap old man mode>
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