Should I throw in the towel too?
05-31-2008, 10:42 PM
#1
Member
Thread Starter
Should I throw in the towel too?
Hi guys,
Here is my situation. 1987 300 D Turbo. Family owned since new:
Dropped
AMG replica wheels from Bekkers
Euro headlights
Interior in impeccable condition
Paint condition like new. Mouldings color matched
Alpine Stereo, speakers. Subwhoofer
Took the car to the dealer last week because of an oil leak. They cleaned the engine and told me there are "lots of leaks", not worth fixing them because it will be very expensive. They asked me to come back next week so they can recheck where all the leaks are coming from. Shop foreman (who has known the car since new and himself has a 91 300E) said that since the car runs so well, no point to fix them, "just drive it until it stops". He mentioned that it looked like a stone may have hit the oil pump, and that a small leak was there. He said the pump itself was $3000. Fine I thought to myself. Then my car gets hit from behind on the street at low speed while it was parked. Bodyshop says it will cost about $1800 to pull out the dent, paint, etc...
So, I noted some small rust spots in the front fenders which are still not that visible unless u really look closely, and was going to put on the Wald front lip which I bought a while ago. All in all, the body work with the rear repair will run $3800.
My question to you all, is it worth putting $3800 + $3000-$4000= $7000 into the car? It has 342,000 KM. Has given us great service...The other option is to sell it for $4000 (I have a buyer who knows all the problems). I just hate to see the car turned into a pizza delivery vehicle. I would then buy a small car like an '04 Civic or Corolla to run around town with.
Should I say goodbye, or fix?
Thanks
Diesel
Here is my situation. 1987 300 D Turbo. Family owned since new:
Dropped
AMG replica wheels from Bekkers
Euro headlights
Interior in impeccable condition
Paint condition like new. Mouldings color matched
Alpine Stereo, speakers. Subwhoofer
Took the car to the dealer last week because of an oil leak. They cleaned the engine and told me there are "lots of leaks", not worth fixing them because it will be very expensive. They asked me to come back next week so they can recheck where all the leaks are coming from. Shop foreman (who has known the car since new and himself has a 91 300E) said that since the car runs so well, no point to fix them, "just drive it until it stops". He mentioned that it looked like a stone may have hit the oil pump, and that a small leak was there. He said the pump itself was $3000. Fine I thought to myself. Then my car gets hit from behind on the street at low speed while it was parked. Bodyshop says it will cost about $1800 to pull out the dent, paint, etc...
So, I noted some small rust spots in the front fenders which are still not that visible unless u really look closely, and was going to put on the Wald front lip which I bought a while ago. All in all, the body work with the rear repair will run $3800.
My question to you all, is it worth putting $3800 + $3000-$4000= $7000 into the car? It has 342,000 KM. Has given us great service...The other option is to sell it for $4000 (I have a buyer who knows all the problems). I just hate to see the car turned into a pizza delivery vehicle. I would then buy a small car like an '04 Civic or Corolla to run around town with.
Should I say goodbye, or fix?
Thanks
Diesel
Last edited by Diesel; 05-31-2008 at 10:44 PM.
05-31-2008, 11:57 PM
#2
MBWorld Fanatic!
I know your dilemma - I had a 16V that I "could not" part with, same thing. Hung onto it and put lots of $$$$ into it.
Ran very well, but with 380,000 km and some bodywork needed - $4K, I realised that it was always going to need more and more at that mileage.
Could not think of driving anything else - great sentimental attachment, but along came another MB that was much less KM and everything works. I thought I would miss my old car, but I don't really think of it too much. In fact, I wish I had let go sooner and put my energies into a project I'd see more return from.
Let it go, I don't think you are obligated to be the steward of it's preservation. Unless the family wants to pitch in and make it a group effort to keep alive great memories of growing up with a great car and "friend". That's my opinion, anyway.
Ran very well, but with 380,000 km and some bodywork needed - $4K, I realised that it was always going to need more and more at that mileage.
Could not think of driving anything else - great sentimental attachment, but along came another MB that was much less KM and everything works. I thought I would miss my old car, but I don't really think of it too much. In fact, I wish I had let go sooner and put my energies into a project I'd see more return from.
Let it go, I don't think you are obligated to be the steward of it's preservation. Unless the family wants to pitch in and make it a group effort to keep alive great memories of growing up with a great car and "friend". That's my opinion, anyway.
Last edited by 190E 16V; 06-01-2008 at 12:41 PM.
06-01-2008, 05:15 AM
#5
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i now drive a ford p71 i also own a 1988 ford f150 lariat
well it is hard to say i would not trust the dealer ship on a price. they will tend to charge a bit more than what you think it would cost. they wanted 180 bucks an hour to just look at my car and tell me why i would not pass smog. and tryed to sell me a new car ????? right dont like new cars and i never will. the point is that it is hard to say good bye to a family friend. it can be hard to say good bye to car that has with stood the test of time so well. thats why i cant let go of mine. i have found some sort of bond with my car it is the only thing that i feel is really mine in my house. it is running better and better with every little thing i do and with its bad paint and ugly looks it still turns heads at car show and get people asking about it.
it is all up to you and you are the only one who can really know where and what you want to do with your car.
every day for me is a joy to drive my car but i still have that thought that i should sell and it is not worth it.
it is all up to you and you are the only one who can really know where and what you want to do with your car.
every day for me is a joy to drive my car but i still have that thought that i should sell and it is not worth it.
06-02-2008, 08:00 AM
#6
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Join Date: Feb 2008
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1994 E320 (current)
Hi guys,
Here is my situation. 1987 300 D Turbo. Family owned since new:
Dropped
AMG replica wheels from Bekkers
Euro headlights
Interior in impeccable condition
Paint condition like new. Mouldings color matched
Alpine Stereo, speakers. Subwhoofer
Took the car to the dealer last week because of an oil leak. They cleaned the engine and told me there are "lots of leaks", not worth fixing them because it will be very expensive. They asked me to come back next week so they can recheck where all the leaks are coming from. Shop foreman (who has known the car since new and himself has a 91 300E) said that since the car runs so well, no point to fix them, "just drive it until it stops". He mentioned that it looked like a stone may have hit the oil pump, and that a small leak was there. He said the pump itself was $3000. Fine I thought to myself. Then my car gets hit from behind on the street at low speed while it was parked. Bodyshop says it will cost about $1800 to pull out the dent, paint, etc...
So, I noted some small rust spots in the front fenders which are still not that visible unless u really look closely, and was going to put on the Wald front lip which I bought a while ago. All in all, the body work with the rear repair will run $3800.
My question to you all, is it worth putting $3800 + $3000-$4000= $7000 into the car? It has 342,000 KM. Has given us great service...The other option is to sell it for $4000 (I have a buyer who knows all the problems). I just hate to see the car turned into a pizza delivery vehicle. I would then buy a small car like an '04 Civic or Corolla to run around town with.
Should I say goodbye, or fix?
Thanks
Diesel
Here is my situation. 1987 300 D Turbo. Family owned since new:
Dropped
AMG replica wheels from Bekkers
Euro headlights
Interior in impeccable condition
Paint condition like new. Mouldings color matched
Alpine Stereo, speakers. Subwhoofer
Took the car to the dealer last week because of an oil leak. They cleaned the engine and told me there are "lots of leaks", not worth fixing them because it will be very expensive. They asked me to come back next week so they can recheck where all the leaks are coming from. Shop foreman (who has known the car since new and himself has a 91 300E) said that since the car runs so well, no point to fix them, "just drive it until it stops". He mentioned that it looked like a stone may have hit the oil pump, and that a small leak was there. He said the pump itself was $3000. Fine I thought to myself. Then my car gets hit from behind on the street at low speed while it was parked. Bodyshop says it will cost about $1800 to pull out the dent, paint, etc...
So, I noted some small rust spots in the front fenders which are still not that visible unless u really look closely, and was going to put on the Wald front lip which I bought a while ago. All in all, the body work with the rear repair will run $3800.
My question to you all, is it worth putting $3800 + $3000-$4000= $7000 into the car? It has 342,000 KM. Has given us great service...The other option is to sell it for $4000 (I have a buyer who knows all the problems). I just hate to see the car turned into a pizza delivery vehicle. I would then buy a small car like an '04 Civic or Corolla to run around town with.
Should I say goodbye, or fix?
Thanks
Diesel
Good luck with which ever way you go.
06-02-2008, 01:15 PM
#7
MBWorld Fanatic!
I waiver on this a lot. I assume the title of this thread is referencing my "throw in the towel" thread so you probably already know that.
The two scenarios are:
1) buy a new or newer car and sell the benz
2) keep the benz and spend the $7k to revive it (if I were you, I'd take it to a reputable independent mechanic and get a quote- that could save you $2k).
For #1, there are lots of new costs associated with a new car. Namely, depreciation and interest (if you take out a loan). Another more intangible cost is the "opportunity" cost of the cash required to purchase or make payments on the loan balance. I.e. what else could you be spending this cash on? Saving/investing, etc?
#2, you'd be shelling out up to $7k now and maybe $2k per year for maintenance. The real killer with spending more than the car is worth on maintenance is the risk of a car accident. Your insurance will easily total the car based on blue book value, even though it may be in WAY better shape than most cars its age/model/year.
So I would run your analysis out for the next 4 or 5 years and compare the costs of ownership in the two scenarios.
I would not be surprised if it's very even, if not in favor of keeping the benz.
Then, you can ask the emotional questions. How much do I really love this car? Am I really worried about the car getting totaled/am I a risk taker? Am I worried the car will break down on me? Would I enjoy a newer car more?
I'm a numbers guy, so I'd want to understand the economics of it first. Then I'd start weighing the non-financial costs/benefits as well.
In my situation, I decided I will keep the car until the next major repair and make my decision then. I want to buy a much more fuel-efficient car (like most people these days) but I'm unhappy with the pricing and styling available currently. So I'm gonna sit on it for a while and see what happens.
In fact, that's potential scenario #3... You could simply do nothing. Frankly that will be the most economical choice for the next 2 years maybe, depending on how bad your oil leaks are. Theoretically, 2 years from now, the car would have to go to the junk yard.
The two scenarios are:
1) buy a new or newer car and sell the benz
2) keep the benz and spend the $7k to revive it (if I were you, I'd take it to a reputable independent mechanic and get a quote- that could save you $2k).
For #1, there are lots of new costs associated with a new car. Namely, depreciation and interest (if you take out a loan). Another more intangible cost is the "opportunity" cost of the cash required to purchase or make payments on the loan balance. I.e. what else could you be spending this cash on? Saving/investing, etc?
#2, you'd be shelling out up to $7k now and maybe $2k per year for maintenance. The real killer with spending more than the car is worth on maintenance is the risk of a car accident. Your insurance will easily total the car based on blue book value, even though it may be in WAY better shape than most cars its age/model/year.
So I would run your analysis out for the next 4 or 5 years and compare the costs of ownership in the two scenarios.
I would not be surprised if it's very even, if not in favor of keeping the benz.
Then, you can ask the emotional questions. How much do I really love this car? Am I really worried about the car getting totaled/am I a risk taker? Am I worried the car will break down on me? Would I enjoy a newer car more?
I'm a numbers guy, so I'd want to understand the economics of it first. Then I'd start weighing the non-financial costs/benefits as well.
In my situation, I decided I will keep the car until the next major repair and make my decision then. I want to buy a much more fuel-efficient car (like most people these days) but I'm unhappy with the pricing and styling available currently. So I'm gonna sit on it for a while and see what happens.
In fact, that's potential scenario #3... You could simply do nothing. Frankly that will be the most economical choice for the next 2 years maybe, depending on how bad your oil leaks are. Theoretically, 2 years from now, the car would have to go to the junk yard.
Last edited by Bigpete123; 06-02-2008 at 01:18 PM.
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06-02-2008, 02:17 PM
#8
MBWorld Fanatic!
Big Pete That is real well said. A new $34000 car will take $8000 from you annually so a bad year with the Benz is pretty excusable if you love it.
And it's towel time if not.
And it's towel time if not.
06-02-2008, 05:30 PM
#9
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Mercedes Benz W124 250D
I have an 870K miles W124. It runs ok so far. It was swapped to a w202 engine. I say keep it for as long as it goes then change its engine or part it out.
06-04-2008, 03:36 AM
#10
Member
Thread Starter
I waiver on this a lot. I assume the title of this thread is referencing my "throw in the towel" thread so you probably already know that.
The two scenarios are:
1) buy a new or newer car and sell the benz
2) keep the benz and spend the $7k to revive it (if I were you, I'd take it to a reputable independent mechanic and get a quote- that could save you $2k).
For #1, there are lots of new costs associated with a new car. Namely, depreciation and interest (if you take out a loan). Another more intangible cost is the "opportunity" cost of the cash required to purchase or make payments on the loan balance. I.e. what else could you be spending this cash on? Saving/investing, etc?
#2, you'd be shelling out up to $7k now and maybe $2k per year for maintenance. The real killer with spending more than the car is worth on maintenance is the risk of a car accident. Your insurance will easily total the car based on blue book value, even though it may be in WAY better shape than most cars its age/model/year.
So I would run your analysis out for the next 4 or 5 years and compare the costs of ownership in the two scenarios.
I would not be surprised if it's very even, if not in favor of keeping the benz.
Then, you can ask the emotional questions. How much do I really love this car? Am I really worried about the car getting totaled/am I a risk taker? Am I worried the car will break down on me? Would I enjoy a newer car more?
I'm a numbers guy, so I'd want to understand the economics of it first. Then I'd start weighing the non-financial costs/benefits as well.
In my situation, I decided I will keep the car until the next major repair and make my decision then. I want to buy a much more fuel-efficient car (like most people these days) but I'm unhappy with the pricing and styling available currently. So I'm gonna sit on it for a while and see what happens.
In fact, that's potential scenario #3... You could simply do nothing. Frankly that will be the most economical choice for the next 2 years maybe, depending on how bad your oil leaks are. Theoretically, 2 years from now, the car would have to go to the junk yard.
The two scenarios are:
1) buy a new or newer car and sell the benz
2) keep the benz and spend the $7k to revive it (if I were you, I'd take it to a reputable independent mechanic and get a quote- that could save you $2k).
For #1, there are lots of new costs associated with a new car. Namely, depreciation and interest (if you take out a loan). Another more intangible cost is the "opportunity" cost of the cash required to purchase or make payments on the loan balance. I.e. what else could you be spending this cash on? Saving/investing, etc?
#2, you'd be shelling out up to $7k now and maybe $2k per year for maintenance. The real killer with spending more than the car is worth on maintenance is the risk of a car accident. Your insurance will easily total the car based on blue book value, even though it may be in WAY better shape than most cars its age/model/year.
So I would run your analysis out for the next 4 or 5 years and compare the costs of ownership in the two scenarios.
I would not be surprised if it's very even, if not in favor of keeping the benz.
Then, you can ask the emotional questions. How much do I really love this car? Am I really worried about the car getting totaled/am I a risk taker? Am I worried the car will break down on me? Would I enjoy a newer car more?
I'm a numbers guy, so I'd want to understand the economics of it first. Then I'd start weighing the non-financial costs/benefits as well.
In my situation, I decided I will keep the car until the next major repair and make my decision then. I want to buy a much more fuel-efficient car (like most people these days) but I'm unhappy with the pricing and styling available currently. So I'm gonna sit on it for a while and see what happens.
In fact, that's potential scenario #3... You could simply do nothing. Frankly that will be the most economical choice for the next 2 years maybe, depending on how bad your oil leaks are. Theoretically, 2 years from now, the car would have to go to the junk yard.
Thanks Bigpete and everyone for your thoughts. I think I will end up keeping the car and just fix what comes up. Car has way too many memories and drives to well to get rid of it. Maybe in a couple of years from now as long as nothing super major wrong until then, I will think about replacing it.
W124-truly engineering like no other car in the world
06-04-2008, 04:54 AM
#11
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i now drive a ford p71 i also own a 1988 ford f150 lariat
Thanks Bigpete and everyone for your thoughts. I think I will end up keeping the car and just fix what comes up. Car has way too many memories and drives to well to get rid of it. Maybe in a couple of years from now as long as nothing super major wrong until then, I will think about replacing it.
W124-truly engineering like no other car in the world
W124-truly engineering like no other car in the world
06-26-2008, 01:08 AM
#12
Member
Thread Starter
Good news!
I took the car back to the dealer today for them to have a look at the engine. It turns out I don't have a bunch of leaks, just one small one from the left crank shaft seal. It was so small the shop foreman said not even to bother with it. I am not sure where all the oil came from before, but he said the car is fine. Will be keeping it
Car is going to the body shop next week to repair the rear bumper. Will install the faux wald front lip at the same time. Will put up pics when the car is done.
I took the car back to the dealer today for them to have a look at the engine. It turns out I don't have a bunch of leaks, just one small one from the left crank shaft seal. It was so small the shop foreman said not even to bother with it. I am not sure where all the oil came from before, but he said the car is fine. Will be keeping it
Car is going to the body shop next week to repair the rear bumper. Will install the faux wald front lip at the same time. Will put up pics when the car is done.
06-26-2008, 09:00 AM
#13
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Join Date: Jul 2007
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i now drive a ford p71 i also own a 1988 ford f150 lariat
Good news!
I took the car back to the dealer today for them to have a look at the engine. It turns out I don't have a bunch of leaks, just one small one from the left crank shaft seal. It was so small the shop foreman said not even to bother with it. I am not sure where all the oil came from before, but he said the car is fine. Will be keeping it
Car is going to the body shop next week to repair the rear bumper. Will install the faux wald front lip at the same time. Will put up pics when the car is done.
I took the car back to the dealer today for them to have a look at the engine. It turns out I don't have a bunch of leaks, just one small one from the left crank shaft seal. It was so small the shop foreman said not even to bother with it. I am not sure where all the oil came from before, but he said the car is fine. Will be keeping it
Car is going to the body shop next week to repair the rear bumper. Will install the faux wald front lip at the same time. Will put up pics when the car is done.
