When is a cheap car too cheap? Or when is an ozbargainer too cheap?
I'm in the market for a daily to do approx 5000km/yr - for now anyway.
Been offered a BA MKII XT EGAS Falcon for free (or very near free). Car has just had:
- Front end suspension rebuilt
- New shocks and springs front and back
- New gas converter
- New tyres
- brake lines replaced and new booster
- Gas tank stamped
Now the car is 16yo with 320,000km country.
Current Defects:
- Ignition barrel will need rebuilding or replacing
It's at that age where all sorts of things can go wrong on it. It's a family members car so I know the history pretty well. Typically this is the point falcons start to develop some leaks to say the least. I'm concerned I'll get 2-3 months in and a major issue or will need to constantly get the hands dirty on the little stuff
I am pretty handy on the tools but I don't have regular access to space to work on it and would rather not have to. I'd hate to see a mechanic working on it every 3-6 months for $135/hr
I've considered just picking up a base model Cerato for 20-23k cash which will work out pretty cheap to own over 7-10 years and keeping my more interesting current daily as a weekender (500hp rwd car). That Cerato is 20-23 times more expensive than the falcon. 23k on the old falcon tank could go a long way towards repairs until I'm stuck in the middle of nowhere staring at a b series falcon and regretting every decision I've ever made. I actually like falcons
Consider 3rd party insurance savings too.
Thoughts?
If it's almost free, why not ride it till it gives in a big $$$ kinda a way, dump it then look for another car for long term? If this car manages to last 2-3 years, big fricken win. Doubly so as COVID as hiked up 2nd hand car prices, a few years and fingers crossed it will drop across the board