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Old 10-01-2015, 02:10 PM   #1
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Default Fix the Olds or cut losses?

Vehicle in question:
1992 Oldsmobile 88 Royale base model. Just shy of 80,000 original miles. I am the second owner of it, first was my wife'* grandmother. This vehicle was rather neglected as it was bought new by a 70 year old widow in 1992 and we got it in December of 2014.

Known and current issues:
-Missing front bumper (from accident #4 that resulted in the state finally revoking the elderly driver'* license)
-Shocks and struts are shot.
-Bad camshaft sensor and/or interrupter magnet.
-Something messed up in ABS system, I've just pulled the fuse right now.
-Sporadic issue with driver'* front brake dragging, not sure if a caliper is going bad or related to the larger ABS issue.
-Parking brake does not work.
-AC does not work.

Since December, I have replaced the radiator(cracked), valve cover gaskets(bleeding oil everywhere), plugs, wires, air filter, oil changes, 4 new tires, and rear brake system(drums, shoes, wheel cylinders, and all due to brake fluid leak). I got the car for free, and have put parts and service into it nearing its book value.

For the most part the engine (except for that bad sensor) and transmission are solid, but the rest of the car feels like it is about to fall apart around them.

Currently, due to new job I really don't have the daylight hours/place to work on vehicle to address anything related to the brakes or the cam sensor, and I'll have to take it to a mechanic to get it done.

We're not planning on keeping this car forever, it was a "we just moved home, we're unemployed, and need a way to get to get around and we're super broke" deal. It'* always cheaper to fix than buy, and our budget is extremely limited as my wife'* job is minimum wage and inconsistent hours. Mine is a bit better, but we're still nowhere near middle class...more like "we can probably pay our bills this month as long as we don't go out to eat any" class.

Thoughts? I'm starting to think the Olds is going to nickel and dime us pretty bad, but something more reliable is going to take our entire savings account to purchase, and that makes me nervous.
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Old 10-01-2015, 02:27 PM   #2
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General rule of thumb is to have at least 3 to 6 months of income in savings to meet emergencies, if you have more than that you might consider another vehicle, if not I'd keep the Olds limping along until your financial situation improves. Good Luck on everything!

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Old 10-01-2015, 02:34 PM   #3
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That'* probably gonna be the plan. I'm hoping I can find someone with the knowledge and tools to fix it up a bit. A set of quick struts, replacing the cam sensor, and some brake work would do wonders for keeping it on the road.

I'm currently working 60 hours a week and simply don't have the time, tools, and means to work on the currently needed repairs.
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