I have a 2004 Honda CR-V with 229,000 miles, and the timing chain recently broke. My mechanic suggested that I might need a new engine and advised me to buy a new car, which I’ve already done. Now I’m considering what to do with the old CR-V.
What are your thoughts on this? If I were to sell it as-is, what kind of price might I expect given that it needs a major repair? And would it be worth the investment to fix it first, considering the cost of a new engine and the potential resale value?
Any advice on whether replacing the engine or selling the car as-is would be a better option would be greatly appreciated. Thanks.
Every 4 to 5k miles, you should change that oil. My wife bought a GMC 5.3 with a maintenance plan and a guarantee. However, she got ripped off because she changed the oil every 10,000 miles as the manual said to, but the engine sludged up at 80,000 miles and no one would cover it. I wouldn’t let her change her own oil after that. I change mine every 6k miles on my 2 and every 4k miles on hers. I only drive on the highway, and she only takes short trips.
Given the high mileage and the major repair needed, selling your 2004 Honda CR-V as-is might be the most straightforward option. You can expect to sell it for significantly less than if it were in good working condition, possibly in the range of $500 to $1,500, depending on the local market and demand for parts. If you were to invest in a new engine, the cost could be substantial, often exceeding $2,000 to $3,000, which might not be worth it given the vehicle’s age and current value. Fixing it could potentially increase its resale value, but it may not be a cost-effective investment. Weigh the cost of repair against the potential increase in resale value and consider if you’d prefer to avoid the hassle and expense of fixing it. Selling as-is could save you from additional repair costs and offer a quicker resolution.