CL cons?

"RustedSprinter" (rustedsprinter) 06/10/2015 at 18:15 • Filed to: None

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Long story short everyone here knows that I have an MR2 that isnt running right. I bought the car to learn stick and do basic stuff to it. I had a friend who knew about MR2s and he said he would help. He doesnt want to talk to me since he failed out of college so I’m on my own working on it. Which is going slow and junk. Took me 3 days to change the acc belts. So I browse CL to see if anyone would trade for my MR2 + some amount of cash. I’d look for Civic Hatches EF, Festivas, 300ZX, or Metros. Hell even Aspires. So I contacted a dude with a auto Metro “rust free” and has 64K miles. He’s telling me that my MR2 is worth 200 bucks and if I can get it running well its worth 500 and his metro is worth 2000. So in his mind my MR2 + 2000 = his 96 automatic Metro. Hes trying to screw me over Oppo!

The Story is still kinda long sorry ;] Heres a Twingo!

Dr. Zoidberg - RIP Oppo > RustedSprinter 06/10/2015 at 18:23

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I’ve never done trades, but i imagine it’s just like buying on CL: a crapshoot.

GUYMANDUDE > RustedSprinter 06/10/2015 at 18:28

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For 500 I would just keep the car to tinker with.

BoxerFanatic, troublesome iconoclast. > RustedSprinter 06/10/2015 at 18:39

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I am sorry, that is just wrong.

An MR2 in almost any condition aside from a picked-over parts-car, or a car that is literally sagging due to metal corrosion decay, is worth more money than that.

It is just a matter of finding a buyer who wants the car, not just a buyer who wants a cheap flip.

It is unfortunate that your friend isn’t helping or available, but life moves forward.

I would try to sell it, if you really want to sell it, on an MR2 board, rather than on craigs list.

Selling it to an MR2 enthusiast is more likely to get the car into hands that will get it fixed, and get you what a non-running, but fixable car is worth.

Or maybe they can put you in contact with someone in your area that can help you out with the work, or a good sympathetic mechanic.

CL trollers are going to be looking for the bottom dollar buy, in order to flip the car for the most money.

How much rust does the chassis have, anyway?

RustedSprinter > BoxerFanatic, troublesome iconoclast. 06/10/2015 at 18:47

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Not much rust at all. I had the thing on the lift and I didnt see anything too bad. The mechanic that put it on there said that if it was running it would be a great example of a MR2. He would of told me that if it had rust on the chassis.

Bytemite > RustedSprinter 06/10/2015 at 18:48

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Just get it fixed at a shop. Why give up an aw11 for a metro....

The losses from the transaction is likely going to equal your mechanic costs

RustedSprinter > Bytemite 06/10/2015 at 18:55

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Thats true maybe I should take her down there and get the hard stuff done.

BoxerFanatic, troublesome iconoclast. > RustedSprinter 06/10/2015 at 18:56

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Ok... I was reading one of your other posts that another MR2 had even more rust than yours... so I inferred that there was some involved.

A relatively solid chassis should be worth much more than that offer.

A Timing belt change is a good idea. I have been delaying mine for too long on the Miata.

The mechanic probably suggested it, because the work of putting the serpentine accessory belt on is redundant... it would have to come off, and get re-installed again to gain access to the timing belt cover, and if it is over-due it kind of makes sense...

doesn’t help the pocket-book situation at all, though, and I feel you on that one.

It also depends on how much access there is through the rear fender well... good access can mean that it is do-able with the engine in the car... poor access might mean a lot of frustration, and wishing the engine were dropped out of the car in order to access all the bits and pieces.

What does the car need to get back into baseline running condition?

Bytemite > RustedSprinter 06/10/2015 at 19:10

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What year and color is it? Im looking for an aw11 currently.

RustedSprinter > BoxerFanatic, troublesome iconoclast. 06/10/2015 at 19:12

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Yeah space is a real issue. I know I need to change the fuel filter. I had some old fuel in it for awhile and the previous owner tried running it thru. Hopefully the injectors arent clogged or the fuel pump. Its going to need a new temp sensor too like Sidewaysondirt suggested. I’ve just gotten to the point where I kinda hate working on it.

BoxerFanatic, troublesome iconoclast. > RustedSprinter 06/10/2015 at 19:29

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Do you owe any money on the car?

Do you have a boat load of other debt?

Is your credit rating bad?

Is the cost of the repairs to get it reliable again higher than the reasonable going rate for selling a running classic MR2? (blue book sights might low-ball a bit, enthusiast forum classified ads might over-shoot a bit looking to negotiate back to a good price... to gauge resale value)

If the answer is no to all of those... If I were in that position, I would probably consider going to my bank, and asking about credit card options, see if there are any no or low-interest options with a limit high enough to get the car back on the road, and stabilized in terms of maintenance for a while into the future, by a good, fair mechanic...

put the repairs on the card, and treat the balance like a car loan... pay payments fastidiously every month until the zero interest expires (free use of the bank’s money over time), or as much as you can reasonably afford if the interest is higher. (not free use as interest compounds)

Paying monthly payments for a car that is running and reliable is easier to stomach than trying to come up with a lump sum while the car is down, and the pressure is on to get it going again.

That would probably get the car back to a workable condition, remind you of the fun in driving it, and no longer be overwhelming to consider working on smaller tasks to keep the car in working order.

But if there are other debt considerations in your day to day life, or taking on more debt would put your financial position at higher risk, then perhaps find an alternate course that doesn’t involve incurring more debt.

I don’t advocate for using debt very often at all, and only under very tolerable conditions.

But looking for a different running car may also incur debt on a car that you aren’t familiar with the mechanical condition of (buying a different used car that could break down after you buy it, anyway) as well as the time and effort to sell the MR2 for who-knows-what-settled-on-price, for perhaps an inferior car anyway... Getting a different car might not be all that much safer of a bet than getting your MR2 fixed properly by a trustworthy mechanic, as it seems that you might have.

RustedSprinter > Bytemite 06/10/2015 at 19:33

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1988 and its a hard top. Color is white.

RustedSprinter > BoxerFanatic, troublesome iconoclast. 06/10/2015 at 19:34

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Definitely something to think about! I never thought of doing that before.

BoxerFanatic, troublesome iconoclast. > RustedSprinter 06/10/2015 at 23:43

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Just be careful with debt, and be honest about how it will affect your regular cashflow, and how much it will potentially cost you. Getting in over your head and then failing to pay it back can cause significant problems. But using it right and prudently, it can solve problems in a manageable manner.

Rampant easy spending on credit is your tempting enemy. Minimum payments while accruing interest is just a perpetual money vacuum, sucking cash out of your pocket, into the creditor’s hands. They’ll be happy to let you pay them continual interest all your life if you let that happen, and if you fail to pay, they’ll come after it, and make other financial issues harder with a trashed credit score.

I’ve been thousands of dollars in debt before and paid a FAR higher price than any benefit I got from spending the money in the first place, which is the wrong way to handle it.

But more recently, after clearing all of my other debts, I have also used credit responsibly to handle pressing business that needed more up-front money than my cashflow could immediately handle. It was helpful, by my being prudent and careful about planning it’s use up front, and diligent about paying it back. My credit score is higher for it, and the debt that I used well was paid off in less than a year of manageable payments, and the pressing repair it paid for was made up front when it was needed.