I have a 2001 Toyota MR2 Spyder with 64,000 miles. It still drives and handles beautifully. Everything works fine. However, it has lost its looks. I’ve gotten 2 estimates for taking it apart, repairing the dents, replacing a bumper, realigning the slightly out of line hood and painting everything. Both are around $3,800. Is this a reasonable investment for a car this age, or should I start checking ads for a new car? The Blue Book value of the car now is around $7,500.
It really depends on how long you plan to keep it. You won’t get that money back, but if you plan to keep it for 5 years, say, it might be worth it to you. It has many more years of life, that’s for sure (assuming the maintenance has been done according to schedule, or better).
It’s really a personal thing, if you plan on keeping it. It surely has lots more good years left in it, as texases said, providing the maintenance is kept up with.
I sure wouldn’t do it but up to you. What else would you do with the money anyway?
If it’ll make you enjoy driving the car more for the next few years, then it’s reasonable to do it. As others have said, it’s not an investment, as you won’t get all of that money back when you sell it.
Do the work and drive the wheels off of it!!! The investment will be much less than the cost of another car plus you know the history of the one you have now. If you buy a used car you may just be buying someone else’s problems.
well if you have the time… you can do most of the prep work yourself at those prices!!! You’re getting hosed for quotes… keep looking. it’s per square foot… so about 1200 for a top body job without stripping any paint etc. but good prep work etc. it the cost. might even barter some sanding time if you’re good at it.