I know this is a long post, however, I have a very perplexing situation and am in need of some advice.
I currently own two vehicles, neither of which is operable.
I don’t know which I should do:
(A) fix one, and sell the other
(B) fix one, and keep the other until it can also be repaired
© sell or trade-in both together towards a newer/better vehicle
Here’s the info on each vehicle:
1993 Geo Metro
[ul]
[li]miles: 96,261[/li][li]body: excellent condition, no rust, no damages, paint is pristine[/li][li]interior: excellent condition, immaculate[/li][li]perks: Pioneer CD player, good gas mileage approx. 35-40 mpg[/li][li]disadvantages: I’m tall, it’s small, so it’s a tad uncomfortable.[/li][li]problems: burned-out valves[/li][li]cost to repair: $1100[/li][li]Kelley Blue Book est. trade value: $700[/li][/ul]
1986 Ford Econoline 250 XL conversion van
[ul]
[li]miles: 128,202[/li][li]body: moderate rust damage, needs new doors & paint[/li][li]interior: needs new carpet, needs new front seat upholstery, rest of interior is in good condition[/li][li]perks: A/C, C/C, dual fuel tanks, very comfortable, very roomy, great for travel, carpooling friends, camping[/li][li]disadvantages: 14 years old, may be (or soon become) mechanically obsolete, low gas mileage[/li][li]problems: blown head-gasket causing anti-freeze to mix into oil, may or may not need a new engine as result, also needs new carburetor[/li][li]cost to repair: undetermined, but possibly equal to, or exceeding repair cost of Geo[/li][li]Kelley Blue Book est. trade value: $1480[/li][/ul]
I don’t know how accurate the KBB estimates are. Since I am not an auto dealer, that’s all I have to go on.
As you can see, the cost to repair the Geo possibly exceeds the vehicle’s estimated worth.
The Geo is in better overall condition than the van. The van may be outdated, but is more comfortable/enjoyable to drive. I could get a remanufactured engine installed in the van if necessary. I could also do the same with the Geo.
I just don’t know what to do. Of course, either one will get me wherever I want to go, once repaired.
I have a particular fondness for the van, but the Geo seems more practical to fix.
It’s a tough decision to make. As of late, I have been contemplating trading in both vehicles towards a newer, better vehicle. This where some complications come in. I am currently not working a full-time job. I am basically earning pocket change. My credit is bad. A loan is out of the question. Has anyone here ever heard of, or received an even vehicle trade? I was wondering if I could possibly “barter” my two current vehicles for a newer/ better one.
I know I need to get a decent paying full-time job. That would solve a great deal of the situation. I’m in the old catch-22 though… I need a car to get to work, I need work to get/fix a car. Ugh! What a dilemma!
I would be interested to hear anybody’s advice & suggestions.