Being given a car from my Uncle - 1991 Cutlass Cruiser : ) (1 Viewer)

[Ryan Tsang]

Generally that's the smart thing to do. However, instead of buying out the car/house, you can invest the money. If the interest is low enough, your investment might make more money than you pay out in interest.

It's a balance of numbers and how savvy you are in investing (I'm not) and how much risk you care to take. Your advice is sound, but there are other ways.

 

[Chris PC]

The tranny on the old girl is getting flakey. Estimates are around $2000 CDN to rebuild it. I think I will be selling this car now. There are some Oldsmobile fans out there who may be interested. Its a shame, the cars engine is great, with no leaks, and no burning of oil. The interior is in very good shape for the year, the brakes are new, the exhaust ok, and the exterior is probably 99.9% rust free. The tranny has some problem with the seals. I may try some goop from Canadian Tire to try to revive the seals, but odds are it needs a re-build. Oh well. I got lots of good use out of it. If anybody likes Oldsmobiles, this one is for sale. I have 157000 KM's on it. It also comes with 14" alloys and 14" steel wheels with hardly used snow (ice) tires from Canadian Tire.

 

[Henry Gale]

Ryan was amazingly close!

 

[Chris PC]

Too bad...The tranny is known for a problem with seals. The rest of the car is in such amazing shape. I am going to try some Lucas Transmission Fix goop in the tranny before giving up on it.

 

[Donnie Eldridge]

Looks like the "Family Truckster".

 

[Chris PC]

Mine is all red...no wood panel.

 

[BrianW]

Chris, are you sure you won't reconsider a transmission rebuild? If the rest of the car is in great shape, then that $2000 could buy you several more years of service. $2000 is only about 5 months' worth of payments on a new car, so it's not that much amortized over the time you'll own it.

Of course, if you want a new car, that's another matter.

Think about it. If you still like the car and would enjoy having it another few years, $2000 is a pretty cheap ride.

 

[Chris PC]

..I have thought about it, but...It is not a cheap ride with the gas costs. Granted, the car was nearly free and hasn't cost me much, but the exhaust will need doing, and the brakes, and who knows what else could go wrong. I thought about getting the tranny rebuilt, but I just can't bother right now. I will try some goop in the tranny first, and if that doesn't work, I am not sure what I will do. I may sell it to a GM car fan and keep the money to save up for another vehicle later. I will see.