Wondering what makes most sense...drop $$$$ on a car I know the history of but is 10 years old, or dump it for ????

Asked by Aug 29, 2012 at 09:20 PM about the 2003 Hyundai Sonata

Question type: Maintenance & Repair

Balance shaft belt broke and took out tone ring, cam sensor and snapped 2 valves.
I am original owner and kept up with maint on this Sonata. It has 125,000 miles which I guess is about the average life of their motor from what I'm hearing.  I can get used engine for $1100-1400 with various miles and no warranties then need labor for install. I can have my motor rebuilt and get 3 year warranty but it will be close to $3000 by the time its done. Hard to justify that kind of $$$ in 10 year old car.  My other option would be to take $2500-3000 and see what I could get and hope it lasts a year or 3 without major problems.  

Has anyone else had similar problem with Sonata ? What did you do ? Should I stick $$$ into tearing it down and see if it needs a lesser repair but by then a large labor bill to possibly see that it would still need a rebuild?

1 Answer

59,115

IMHO use the money as a down payment on something new(er), if you can afford to. This is a 10 year old vehicle with over 100,000 miles on it. Also, check book value on it. May be worth less than the cost to fix it. A friend at work spent $3000 on head gaskets for his '97 Cadillac Eldorado. Six months later he got rear ended. The insurance company totaled his 15 year old car. He got back the money for the engine repair but, being an older model he had put other money into it as well. He didn't come out ahead. True story. -Jim

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