Quote:
Originally Posted by Dadhawk
Probably not much difference between a loan from the dealer and a personal loan for a repair. You might want to see if a local credit union would refinance your current car loan to build in the repair, if you are going to go that route, assuming the repaired car has enough equity to cover the loan.
If the current value of the car (unrepaired) plus cost of the repair is greater than the value of the repaired car, it may not be worth doing the repair. May just want to cut your losses and move on, particularly if you a decent offer for as is.
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Thats exactly where I stand. Rock and a hard place.
As it stands, "running" but not safely driving I could get a little over 4k for it without a problem. More than enough to cover whats left on my current loan and leave me with a nice chunk for a down payment. The repairs could and probably will easily go over 10k. I've been quoted 2500 for a teardown to asses the full extent of the damage and more than likely another 8-9 in parts and labor afterwards. Add that to its current value and its nowhere near its value if it were repaired. After thinking it over a bit for the last few days, my best option is to cut my loses sell it for its current value and move on.
Problem is I love my 86. and these kinds of decisions are tough
