Keep or sell?
For several weeks now I have had a dilemna . . . a decision . . . and try as I can I cannot come up with a final decision and so I'm turning to you folks for input.
My dilemna is this . . . my 2000 Toyota 4Runner has a badly rusting rear differential. I've fixed it now with a temporary patch (well the garage fixed it) . . . but since the first patch failed I don't have a lot of faith in the second patch.
If I opt to make a permanent repair the cost will be $700-$1,000 (not including labor). On top of this I am currently driving around with the check engine light on due to a faulty oxygen sensor (another $200) which my mechanic says shouldn't be an issue unless I notice it not running normal.
A little background . . . this is my "spare" vehicle. Generally I only use it for camping, hauling firewood/lumber/ATVs/sleds or for use on those slippery days in the winter. It is not my main vehicle, but on the days I use it generally I'm hauling something or going somewhere on a trip . . . it is not the vehicle I drive around the town of Unity.
If you've done the math it is about 10 years old and has 114,000 or so miles on it.
So my question . . . keep it and fix it up . . . or sell it while it still has some value ($4,500-$5,500 to a dealer).
I keep waffling on this issue since:
* It is paid for with no car payments every month which is nice since my wife and I are renovating the house
* It's in decent shape and has been reliable until recently
* It has relatively low miles
* I only use it intermittently and it has worked OK for my needs
On the other hand:
* I keep thinking of the cost to repair it permanently and correctly and wonder if it is worth putting into a vehicle at this age
* I find myself wondering if other components may fail on it and if this is the start to many repair bills
* My needs/wants have changed . . . I could use a pick-up now much more than I could use a SUV
So any input . . . any ideas . . . keep it or can it? I honestly go back and forth on this issue . . . one day I'm ready to sell . . . and the next day I think the best thing to do is keep it.
"Courage is not the absence of fear, but the realization that there is something more important than fear."
"Death is only one of many ways to die."