Merits of spending money on an older car vs taking a chance on a new one

flexcon

So I find myself in this dilemma

I have a 2008 honda Civic with what normally is a bullet proof engine, 2.0 petrol.

however, the timing chain has stretched and it seems wise to replace the engine rather than continue (risk of vales and piston damage etc)

So It got me thinking. Wise to put in about €1500 (new used engine (99k), clutch, timing chain, labour) for a car worth 3k?

Or take the losses, get €500 scrap and move on?

my fear is always ending up with a lemon after and regretting it.

seagull

Given the amount of work involved in changing the engine, you probably run about the same level of risk of winding up with a lemon with the current car as you would getting something else.

hoodie6029

You could put a new engine in but the rest of the car is still 15 years old. Comfort and safety have moved on a lot in that time. Treat yourself to a new car.

bish76

If its still running, you could try to trade-in for new car. Some dealers of new cars give guarantee scrapage scheme.