Quote:
Originally Posted by V
So would you guys consider the car ... not worth it.
Basically, how much money would you feel comfortable dumping into it?
I'll have just about 2,000 into this car. It would be my daily driver.
I could ... go get another lease or explore some other options I have. My current lease is up in about a month so time is the major factor now.
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Not sure what your goal is here, so I'm sorry if my response is off-base, but:
I don't know what the book value of the car is, but if you're trying to drive it for free then flip it for a profit, it's looking like you may have some trouble accomplishing that.
If you're looking to put money in your pocket through eliminating a recurring monthly payment & additional insurance, while still having a cheap and reliable DD, then I'd be okay with throwing a few more dollars at this car to make sure it's reliable. I imagine a 20 year old car has done most of its depreciating by now, so you may very well end up driving it "for cheap" (read: not free) when you look back in a year or so.
In any event, being in this car for a total of $2,000 isn't a terrible thing when you consider the other option you're entertaining (sinking $2,000-$4,000 a year on a lease payment and higher insurance).
With all that said, I wouldn't feel comfortable being in this car for $4,000 total, if that's the road future discoveries lead you down... I think you need to figure or what your goal is for whatever car you're going to drive in 2017 & then set an all-in budget to limit yourself.