Repair or not? HELP!
 

I have a '95 convertible (6 cylinder, about 85K miles) that I only drive in good weather and basically garage for the winter months. Last fall it, it started to sound bad and, after the engine warmed up, the oil pressure would drop to zero when just idling. I smelled big repairs, so I just garaged it early. Well, with the arrival of spring, I brought it back out and took it to a trusted mechanic. Basically, in a nutshell, he's says the entire is about to throw a rod and either needs a complete rebuild or complete replacement. That, and some other needed transmission work brings the reapir bill to a whopping $4,700. [EXPLETIVE DELETED] :hittingthefan: Best I can tell, they car is only worth about $5,000 to $6,000 in good running order.



So, what do I do? It's a third car and not necessary for either me or my wife to get to work, but I sure hate not to have it on warm summer days and nights. What do I do convertible Mustang nation? Is that too much money to spend on a car that isn't worth much more?



Looking forward to everyone's responses and thanks in advance!



P.S. If I didn't get it fixed, what would I do with it? Is there a market for terminally ill Mustangs?

Replace the V6 w/ a 302 for the same price of the car. If not, you can try selling it or parting it. It all depends how much you love the car.

Rebuild the bottom end and slap a turbo on it.

Yes, there's a thriving market for dead 6's. They make a nice easy basis to build a race car from. You can pick up a used motor off craigslist cheap and get it running the cheap way too. While you're on CL find yourself a tranny and have fun.

Decide if you love the car or not. If not, sell it to some kid to rebuild and find yourself a used Mach1