Weighing it up. When would you decide to move on?
Discussion
Ok this is a 'my 5 is probably going to cost me £X to get through next MOT' type discussion. When would you get to the point of thinking, 'perhaps I'll just sell for parts, or similar & move onto another 5'. Where is your cut off point before a cherished car becomes a money pit? oooh it's so complex a problem! 
My Mk1, late 'N' reg UK 1.8 standard- no ABS or PAS or anything (I like it that way)at 109k miles. Mildly modified (BBS wheels, Arc chamber, LED TSIs, Runabout alloy fuel cap, bullet mirrors etc). I've had for about 2.5 years & still love it to bits, car is a daily driver but also for weekend fun. No track use.
Situation:
BRG paint getting a bit past its prime, 1 or 2 scratches. Grey leather & door cards- leather becoming tatty-holes! but I like it. Engine still VERY strong 100% reliable. Roof still pretty good & I have a BRG hard top too. Suspension is pretty knackered, but I do have a spare set of standard units from a 50k Mk1. Brakes will need doing (pads & discs) before too long. Tyres will need replacing soon (3-4 mm left) & sills, rusty SILLS! I feel will both rear sills need a good dose of the angle grinder & repair this year. I currently have very little time to spend working on the car so some labour charges come into this too. I'm reasonably skint at the mo too!
I'm undecided either way but interested to hear others opinions on this.
My Mk1, late 'N' reg UK 1.8 standard- no ABS or PAS or anything (I like it that way)at 109k miles. Mildly modified (BBS wheels, Arc chamber, LED TSIs, Runabout alloy fuel cap, bullet mirrors etc). I've had for about 2.5 years & still love it to bits, car is a daily driver but also for weekend fun. No track use.
Situation:
BRG paint getting a bit past its prime, 1 or 2 scratches. Grey leather & door cards- leather becoming tatty-holes! but I like it. Engine still VERY strong 100% reliable. Roof still pretty good & I have a BRG hard top too. Suspension is pretty knackered, but I do have a spare set of standard units from a 50k Mk1. Brakes will need doing (pads & discs) before too long. Tyres will need replacing soon (3-4 mm left) & sills, rusty SILLS! I feel will both rear sills need a good dose of the angle grinder & repair this year. I currently have very little time to spend working on the car so some labour charges come into this too. I'm reasonably skint at the mo too!
I'm undecided either way but interested to hear others opinions on this.
Edited by tuttle on Wednesday 15th June 15:43
for getting it through the MOT type stuff, anything over a grand really as my car is probably not worth more than 2500 - it's basically a battle against rust. anything else can be sorted (unless it catches on fire).
and if the rust does get it, then you can just swap the bits into another one, or transplant the running gear into something more fun
and if the rust does get it, then you can just swap the bits into another one, or transplant the running gear into something more fun
skinny said:
it's basically a battle against rust.
when does that get too much, as I assume it rusts at different speeds and in different places at different times.I know I need 1 sill this year for my MOT, probably need the other side done next year, how does the underside normally fare for rust and ease/cheapness of fixing (as it doesn't need to be perfect or painted afterwards)?
The calculation has to go something like:
Cost of replacement car (plus any work requiring doing, such as peace of mind service/cam belt change), minus sale value of current car, versus amount you need to spend on your current car to get it as you want it.
Other factors that then complicate the equation are:
• Cash required to get your car through the MOT to obtain a decent sale price
• Your level of confidence that if you spend that money, nothing else major will need doing
• The risk that any replacement car you might buy is only being sold because the previous owner knew what was about to go wrong!
Tricky!
Cost of replacement car (plus any work requiring doing, such as peace of mind service/cam belt change), minus sale value of current car, versus amount you need to spend on your current car to get it as you want it.
Other factors that then complicate the equation are:
• Cash required to get your car through the MOT to obtain a decent sale price
• Your level of confidence that if you spend that money, nothing else major will need doing
• The risk that any replacement car you might buy is only being sold because the previous owner knew what was about to go wrong!
Tricky!
had similar situation, I bailed on my old one & I am currently breaking it for spares (blatant sales plug 
)
I managed to find a really nice, rot free, low milage late mk1 eunos for £1600 with 12 months T&T, what with selling the bits off the old car I the new motor will cost me around £500.
ETA
Links
)I managed to find a really nice, rot free, low milage late mk1 eunos for £1600 with 12 months T&T, what with selling the bits off the old car I the new motor will cost me around £500.
ETA
Links Edited by Big Al. on Thursday 16th June 10:29
yellowbentines said:
when does that get too much, as I assume it rusts at different speeds and in different places at different times.
I know I need 1 sill this year for my MOT, probably need the other side done next year, how does the underside normally fare for rust and ease/cheapness of fixing (as it doesn't need to be perfect or painted afterwards)?
i paid £800 for mine to be done - and instead i was done, it's still rusty underneath, and now i need the front of my sills done too. a better job will probably cost more at a decent garage. if your car is worth £1500 then it's a difficult decision. I know I need 1 sill this year for my MOT, probably need the other side done next year, how does the underside normally fare for rust and ease/cheapness of fixing (as it doesn't need to be perfect or painted afterwards)?
long time no see!tuttle said:
This is a good point & the crux of my dilema. How much does my desire to keep this car, which I have a great affection for outweigh its monetary worth?
Indeed,With all due respect, it *is* only and MX5. Currently there is quite a few on the market, so chances are you could find one in better condition than yours (although you'll trawl through many worse first!)
unless the rust is very small and isolated (chances are slim) i'd strip/break/weigh in, and start your love affair with a fresh one
It's tough to weigh up the (Value of the car - Cost to get fixed) / How much you love it = Your answer.
Things like tyres, brake pads, suspension, service items basically shouldn't be treated in the same limelight as rust repairs. If you pay to sort the rust, you're basically committing yourself to that car. With the others, you can take them with you (and do them yourself on the cheap
) So it's all about the personal formulae I described above.
Things like tyres, brake pads, suspension, service items basically shouldn't be treated in the same limelight as rust repairs. If you pay to sort the rust, you're basically committing yourself to that car. With the others, you can take them with you (and do them yourself on the cheap
) So it's all about the personal formulae I described above.If you intend to keep the car forever then spend the money. You never get restoration money back when you sell a car with the exception of a few rare or exotic models. I was in the same position a couple of years ago with a Morris Minor van which I had owned for 10 years. It was rusty when I bought it and heaps of Dinitrol over the years had slowed things down but time and the rust worm eventually won. The chassis was good but the van body was shot with rusty gutters, wings etc. It was in regular use and hugely useful and practical. I used it on dump runs, dogs to the vet and general running around and it cost buttons to run. I looked round at restored vans as a replacement but some of the workmanship was appalling so I bit the bullet and had it restored by a guy I knew who is the bees-knees at Minor restoration. I kept the cost down as much as possible as I intend to use the van every day again, it won't be a trailer tart. It still cost me £7500 and is probably worth around £5k. But I never intend to sell it so in man-maths it's worth it.
Other than that, I now always buy the very best if I can afford it. If I can't afford it I buy something else. I bought my MX5 earlier this year. I originally set out to buy a cheapy just to use at Cadwell occasionally but everything I looked at under £3k with the spec I wanted (torsen lsd, 1.8, preferably 6 speed) was rusty or badly repaired. So mission creep came into play and I ended up spending £3.5k on a mint, non-rusty import. Possibly a daft thing to do as a bit of a shed won't make me cry so much if I prang it but I'd rather have a structurally sound car. But I'm now thinking it's too good to track! So I'll see if the trackday bug bites and if it does I'll probably sell it and get something like a Caterham.
It's daft to get attached to a car (although I've done it too), always look with the accountant's eye. It's cheaper to let someone else restore a car and let them take the hit as long as you can find a car that's been done well.
Other than that, I now always buy the very best if I can afford it. If I can't afford it I buy something else. I bought my MX5 earlier this year. I originally set out to buy a cheapy just to use at Cadwell occasionally but everything I looked at under £3k with the spec I wanted (torsen lsd, 1.8, preferably 6 speed) was rusty or badly repaired. So mission creep came into play and I ended up spending £3.5k on a mint, non-rusty import. Possibly a daft thing to do as a bit of a shed won't make me cry so much if I prang it but I'd rather have a structurally sound car. But I'm now thinking it's too good to track! So I'll see if the trackday bug bites and if it does I'll probably sell it and get something like a Caterham.
It's daft to get attached to a car (although I've done it too), always look with the accountant's eye. It's cheaper to let someone else restore a car and let them take the hit as long as you can find a car that's been done well.
tuttle said:
Thanks for your comments everyone, much thinking material here!
Out of interest, who else has been in a similar position & what did you decide?
i figured the work would last me a good 3-4 years at least, which made it worthwhile. certainly the mechanicals will go on for that long.Out of interest, who else has been in a similar position & what did you decide?
I bought a UK Mk1 for under a grand last year, 110k miles, no PAS, no electric anything - brilliant car.
Spent £600 having new rear arch panels welded in and the front and rear inner and outer sills repaired, plus the entire back of the car (behind doors) prepped and resprayed to get rid of some paint damage, cracks etc on the bumper.
I know that was a good deal - through a friend of a friend but the job done was excellent and it was completely rust free at that point. I did 5k miles in it in a few months and punted it on early this year for almost double what I paid for it - most of my mates thought I was mad to spend that sort of money on a car of that level but it worked out ok.
It's a decision that you'll struggle with, especially if you love the car - but the long and short of it is that a rust-free car can be had quite easily these days for under £2k (mine went for 1850 in February).
Hope this helps
Spent £600 having new rear arch panels welded in and the front and rear inner and outer sills repaired, plus the entire back of the car (behind doors) prepped and resprayed to get rid of some paint damage, cracks etc on the bumper.
I know that was a good deal - through a friend of a friend but the job done was excellent and it was completely rust free at that point. I did 5k miles in it in a few months and punted it on early this year for almost double what I paid for it - most of my mates thought I was mad to spend that sort of money on a car of that level but it worked out ok.
It's a decision that you'll struggle with, especially if you love the car - but the long and short of it is that a rust-free car can be had quite easily these days for under £2k (mine went for 1850 in February).
Hope this helps
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