Repair old car, or buy new car?

July 29, 2013 9:01 PM

I have a 2000 Saturn LS1 which I have been driving for a decade with basically no problems; it has 120,000 miles on it. On the way to a camping trip this weekend the car broke down and the damage is apparently quite serious. Repairs to the car would cost less than buying a new car, but would I be throwing good money after bad if I repaired it?

I have a friend who is a professional mechanic who diagnosed the problem: the timing chain broke, and he suspects damage to the engine block, because some of the cylinders aren't getting any pressure when the car is revving. (That last part might be a little fuzzy, based on my rememberance of what someone more competent told me yesterday.) Long story short: he thinks that it would be easier to replace the entire engine block than to replace single parts, and the total cost of doing so - including paying him a fair price for his labor and a new timing chain - would be just over two thousand dollars, provided I subbed in a motor from a car with 90,000 miles on it. I have enough to cover this in savings, but that would also put a major dent in my rainy day fund, and leave me completely vulnerable if something else on the car broke. The replaced engine comes with a six month warranty, but that wouldn't cover other parts of the car (eg the transmission) if they broke.

On the other hand, I have decent credit and could probably get a loan from my credit union if I wanted to. I am trying not to get into debt and have recently crossed the halfway point in paying back my student loans, but if I needed to take out an auto loan I could probably afford it, provided that the car I bought was relatively modestly priced. Any car I would want to buy would definitely cost more than the repairs - probably three or four times as much - but it might also last much longer.

Other relevant facts: I don't need the car to go to work, but I do use it 3-5 times a week for social engagement or for being out on the town, meaning that it isn't imperative for everyday life, but I do use it enough that shared car services like zipcar aren't financially feasible. Because of the location of my house and the bus lines that are near here I don't want to bike or take public transit.

So do I pay for the engine to be replaced and cross my fingers that nothing else breaks? Or do I sell it to a junk yard and take out a loan for a different car?

posted by Kiablokirk to Travel & Transportation (7 answers total)

In my opinion it looks about equal to me. A ls1 Saturn isn't a bad car at all and 120,000k is not excessive mileage. BTW a broken timing chain/belt is pretty much catastrophic and you don't really rebuild this kind of engine anymore anyway, they are pretty much disposable these days (although usually after 200-300k with decent maintenance, which is actually what you would get out of older engines after a couple of rebuilds...so it is actually progress). The biggest problem with keeping this car is that Saturn is an orphan brand now and support and parts are probable not going to be all that common in a few years (but maybe so...it is a tossup).

I would use that 2k for a down payment on a fairly new, or even new, cheap car, say a KIA forte or maybe a Hyundai accent or even a Chevy sonic or ford fiesta. You will keep a lot more life out of them, better support and the confidence of a new car. I would at least test drive a couple and see if you like them better than your Saturn and if you do than get a new(er) car, if you find you really like your Saturn in comparison than get it fixed. (the used car market for good, small cars is really crazy and often you are better off buying a new car than a 1-2 year old desirable model like a honda fit or toyota corrolla).
posted by bartonlong at 9:19 PM on July 29, 2013

I just looked on the local craigslist, there was only one Saturn for less than $2000 (one with blown motor for $500), so even if you changed your mind later, you would break even.
posted by 445supermag at 9:30 PM on July 29, 2013

Ugh, a broken timing belt means your whole business seized than released like two thousand times until it finally died. That engine is never, ever going to be the same again. Don't pay two grand to put the 90k motor in it, you'll just be fixing it again in a couple of months.

That being said, there seems to be a superfluity of decent, cheap, new cars that get great mileage right now. Cash for Clunkers killed the used car market, but you can usually find something new or close to new at a decent price these days.
posted by Sphinx at 9:31 PM on July 29, 2013 [1 favorite]

Considering how little you drive, a new car would probably be a waste of money.
posted by twblalock at 10:03 PM on July 29, 2013

I have two reactions:

First, describe the engine breakdown in excruciating, painful, accurate detail.
If you're talking about the economics of replacing an engine, this really matters.

Second, there's timing chain recall scuttlebutt on the 2000 Saturn 4 cylinder LS1.

And I have two opinions:

Replacing an allegedly blown engine with a 90K junkyard engine is a double problem: a used engine with 90K miles on it is a risk all its own. If you were talking about a Honda or Toyota or late model Ford, it would be different, but you're talking about a Saturn.

My second opinion starts here:

"friend who is a professional mechanic..." .. " including paying him a fair price for his labor and a new timing *chain*(emphasis mine)".

Smells funny. Really a friend? Not an acquaintance, but really someone you trust?
Normal people don't spend $2000 to replace engines in 13 year old saturns.
They spend 4000 dollars on a 2003 saturn 4 cylinder whatever.
Mechanic friends don't let friends spend 2K on a engine replacement on a car that's worth 2K.
Mechanic friends help friends buy 2003 saturns for 3K on craigslist.
Sorry to be mean.
Be coy, and say that you'd rather have their help with a used car than their labor on an engine replacement.
posted by the Real Dan at 10:55 PM on July 29, 2013 [2 favorites]

GM doesn't make Saturns anymore. Parts are going to be harder to get, and it's going to get more expensive to fix down the road.

I needed some dough to deal with some shit earlier, so Husbunny and I sold our cars for the cash and got ourselves into sweet new rides.

Here's something worth considering. Interest rates are WAY low, NOW is the time to buy a 2013 model, because the new model year is coming in. New cars have a lot more safety features and technology features.

I'm sort of sorry I hadn't traded sooner, because I'm really enjoying the new hooptie. A lot! I'm especially enjoying awesome gas milage.

We choose to lease, we don't put a lot of miles on our vehicles and the payments are lower than purchasing. Also, ALL service is free for the 36 months of the lease.

Honda has some nice lease options. Sell the Saturn for scrap, take the dough, and get a 2013 Fit or Civic.
posted by Ruthless Bunny at 6:10 AM on July 30, 2013

I was in your shoes a couple of years ago; 2000 saturn with 120k miles or so on it. Repairs were going to run me $1500 or so, and I made the call that others are suggesting: buy a new car. Mine was still running, so a dealership gave me $1k in trade-in credit, which you probably won't get with yours. The real issue is that I expect other things will start to go wrong soon - little things like engine mounts, window switches, sensors, etc. Not worth dropping a couple grand to swap in a new high-mileage engine, especially without knowing its providence. A few old Saturns are worth dropping money on; for example, the Vues for a couple of years had Honda V6 engines dropped into them, and they'll run forever (hopefully, it's what my wife drives). The others are in the middle of the pack with the other GM cars of the era; the bodies are tough with their plastic magic, but the engines and running gear are as fallible as any others. Do some comparison shopping and bring your mechanic along to check out any cars you are really interested in, and go hunt for a new (to you) car.
posted by craven_morhead at 6:52 AM on July 30, 2013