Need a new engine for my '98 Chevy Prizm

Factual Questions
1

The engine in my car needs enough work that my mechanic recommended replacing it or replacing the car. I am leaning toward a new engine, but a recent trend has me wondering about when to get it. I hear that one of the most popular items on eBay right now are 10 y.o. Geo Metros and that buyers are bidding up the price well over the blue book value. Should I worry about a run on parts for this car?

Thanks for your help,
Rob

2

I think we had a conversation about this before. I still don’t think replacing the engine in your Prizm is at all economical.

And don’t confuse these cars - the Metro is a rebadged Suzuki and the Prizm is a rebadged Toyota Corolla. Not much parts commonality between the cars.

The reason there is renewed interest in the Metro is due to their phenomenal mileage - about the only thing that ever recommended this car. Your Prizm gets okay mileage, but nothing that will attract renewed interest in the used market.

I don’t think putting a new engine in your old car is a long term good financial choice.

3

Also, didn’t the Mexican government recently limit imported autos to only the 1998 model year? That might also help to explain why ten-year old Geo Metros are doing well on Ebay. And I agree that replacing the engine in your car is probably not worth it, but perhaps you can sell it to someone interested in exporting it to Mexico.

4

I am not planning on replacing my engine so that I can sell it for more later, I am planning on replacing it because $3000 is less than $18000. I just wanted to know if the parts are going to become more expensive in the near future due to people seeking more fuel-efficient automobiles.

Thanks for your help,
Rob

5

I’m no mechanic, but the Prizm is an American made Toyota Corolla as mentioned upthread. I was under the impression that one could buy used low mileage Japanese engines due to stringent Japanese laws requiring engine replacement at some fairly ridiculous low amount of miles. I’d think a '98 Toyota Corolla would still have a lot of miles to go on it, and I would research the used engine replacement option. Hopefully, one of our resident car mechanics can better evaluate the potential of such an investment.

6

The question becomes thus:

Can you buy a better car, than a 10yo Chevy Prizm (with a new engine), with $3000.

I’d bet yes… Certainly if you can spend something more than $3000 but WAY less than $18000.

A quick search online showed plenty of newer medium mileage (relatively speaking, most were in the 100-150K range) cars just over the $3000 number. I don’t know your location, so I don’t know what the market looks like in your area, but there are usually plenty of good deals out there if you look hard enough.

7

Also, given the unique appeal of 1998 model-year cars to the Mexican import market, how much is the car worth (even with the current engine) on the used car market? If you add that to the $3000 you plan to spend, what can you buy?

On the other hand, you know exactly what’s right and wrong with this car, so assuming that the frame is intact, it might be worth it to spend the money.