I've got a 2009 Honda CR-V EX with 84k miles on it. During a routine oil change and checkup, my trusted local repair shop noticed an oil leak. After some diagnosis they tracked it to a particular area in the engine, which wouldn't be difficult to repair but very expensive in terms of labor since the repairs require removing the engine. Labor alone would run me about $2k.
At this point I have to stop and consider my options. The vehicle is in "good" condition. I'm the only owner with a clean title, it's been well-maintained, got brand new tires, but there's some minor cosmetic damage due to being baked in the AZ sun for ~10 years. KBB and other value estimators online give me a range of $5-7k trade-in or $8-10k private sale, with the oil leak being considered.
I bike to work and only drive about 25 miles a week now, but I do need to have a vehicle available for light in-town driving.
What would you guys do in my shoes? Sink the repair cost into the CR-V and stick with it? Sell or trade instead, and get into an inexpensive used car? Finance a brand-new car and only make minimum payments? ;)
