I have a 1994 V6 Mustang - manual transmission with 130,000 miles on it. I bought it 5 years ago for $4000, have put some money into it (new convertible top, tires and head gasket are the major things) but I definitely don’t feel like it has asked a lot out of me. Mostly it’s just been an awesomely reliable, beautiful, nice-driving car. I love it so much that even though my dad went on vacation and loaned me his 2001 Vette, I parked the Vette and went back to my Mustang after 3 days.
However, I’m starting to look ahead at my car plan for the next 5 years and i’m concerned that the Mustang will wear down and start to become unreliable. I don’t have a lot of friends/family around so I really can’t be getting stranded out on the road very much. I really need a reliable car. I see 2 options:
- Sell the Mustang now while it still looks/runs good, spend $5000 on a reliable but not “cool” sedan type of car, and save up for a newer Mustang in about 2016
- Keep the Mustang, put the $5000 into some sort of mechanical overhaul, and save up for a newer Mustang in about 2016
Question is, can $5000 keep this car running reliably for 5 more years? Can this car be stretched to 180,000 - 200,000 miles? What things do I need to worry about?
Any advice would be much appreciated!