The Money Mustache Community
Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: CarrieWillard on October 26, 2016, 04:39:27 AM
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As I mentioned in my Journal here: http://forum.mrmoneymustache.com/journals/case-study-georgiapeachfuzz-journal/ (http://forum.mrmoneymustache.com/journals/case-study-georgiapeachfuzz-journal/), hubby's work vehicle, a 2001 Ford Expedition, needs work to the tune of $6800, so we've decided to just junk it and buy him another car.
Reading here has got me thinking outside the box a little. Instead of giving it to the repair shop for, say, $500, or whatever they might offer, couldn't I make more money selling it off, piece by piece?
I'm thinking of offering my mechanically-minded gearhead son, 15, of managing this project in lieu of some of his homeschool for the next few weeks because real life learning and all. How educational would it be to take apart a real car? Very.
Anyone ever done this? Do you have tips to share? Bad idea?
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I would check some Expedition forums and Facebook groups and see what the market for parts is. I am not sure how much demand there is, but for some cars other owners are like vultures and will buy all sorts of stuff.
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A shop estimate for $6800 may be sub $2k depending on someone's mechanical ability in a Facebook Users for sale group.
I would definitely list it on one of those for sale groups saying it needs work.
If you choose to part it out (will be messy for a while) or selling privately will take in the most dough.
It all depends on your tolerance and/or space for parking it somewhere while parts are sold.
Eventually it will get to a point where it will need to get scrapped. Whole is always a better option in my opinion.
Jlee's recommendation to check out the Ford Expedition forums is good.
Who knows how many parts cross reference another model line or maybe listing on one of those forums will target like minded Enthusiasts/owners.
Good luck to you.
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No advice, but another question. I'm curious: Presumably you cancel the insurance and registration, but what happens to the title when you take a car apart?
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A shop estimate for $6800 may be sub $2k depending on someone's mechanical ability in a Facebook Users for sale group.
That's a good point. Maybe your son could fix it and sell it as a functional vehicle (or keep it as his first car) instead of parting it out. What's wrong with it?
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Good question! Following to read all the replies.
Anecdotally, my sister home schooled her four boys. Their oldest showed mechanical aptitude as a toddler. They encouraged him as you are suggesting. He did a two-year construction program at their Junior College, which he paid for out of his own earnings. He's now 25, fully independent with no debt, and an in-demand licensed contractor.
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A shop estimate for $6800 may be sub $2k depending on someone's mechanical ability in a Facebook Users for sale group.
That's a good point. Maybe your son could fix it and sell it as a functional vehicle (or keep it as his first car) instead of parting it out. What's wrong with it?
A piston seized up, so the engine is caput. That's why the estimate was so high.
That is a good idea, but a new engine would cost $5000 - not including labor. I think he could do better saving up $4000 for a smaller, decent used car. He doesn't need a truck, the Expedition is a bit of a gas guzzler.
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Good question! Following to read all the replies.
Anecdotally, my sister home schooled her four boys. Their oldest showed mechanical aptitude as a toddler. They encouraged him as you are suggesting. He did a two-year construction program at their Junior College, which he paid for out of his own earnings. He's now 25, fully independent with no debt, and an in-demand licensed contractor.
Cool story! Yes, the 15-year-old has been playing with LEGO for years and is my resident go-to guy for fixing things around the house. Definitely has a mind for mechanics and math.
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Update:
I think hubby has decided to buy another Ford Expedition, also a 2002 (I posted 2001, but whatevs), with fewer miles. He found one last night for $4000. And he is going to keep the totaled one for parts - it has a brand new battery for one.
This is a little hiccup in our journey, but we've had worse. When we were trying to get out of debt a few years back, we had several: two large unexpected medical expenses, owing the tax man several thousand bucks more than we had accounted for, debts hubby forgot about arriving in the mail, etc...
Hubby even said to me yesterday, "Oh well. All 4 tires on the Expy needed replacing anyway!"
Also, the front fender was dented from a crash, and the rear door arm (the thingie that holds it up) was broken, so hubby had to use a piece of wood to hold it open, and at least one of the kids was constantly nagging him to get that fixed, worried it would decapitate someone someday.
Looking on the bright side... :-)
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Good question! Following to read all the replies.
Anecdotally, my sister home schooled her four boys. Their oldest showed mechanical aptitude as a toddler. They encouraged him as you are suggesting. He did a two-year construction program at their Junior College, which he paid for out of his own earnings. He's now 25, fully independent with no debt, and an in-demand licensed contractor.
Cool story! Yes, the 15-year-old has been playing with LEGO for years and is my resident go-to guy for fixing things around the house. Definitely has a mind for mechanics and math.
I often say that I want one to be a mechanic, one a plumber or electrician, one a nurse or massage therapist, etc - all the bases covered. LOL!
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Update:
I think hubby has decided to buy another Ford Expedition, also a 2002 (I posted 2001, but whatevs), with fewer miles. He found one last night for $4000. And he is going to keep the totaled one for parts - it has a brand new battery for one.
This is a little hiccup in our journey, but we've had worse. When we were trying to get out of debt a few years back, we had several: two large unexpected medical expenses, owing the tax man several thousand bucks more than we had accounted for, debts hubby forgot about arriving in the mail, etc...
Hubby even said to me yesterday, "Oh well. All 4 tires on the Expy needed replacing anyway!"
Also, the front fender was dented from a crash, and the rear door arm (the thingie that holds it up) was broken, so hubby had to use a piece of wood to hold it open, and at least one of the kids was constantly nagging him to get that fixed, worried it would decapitate someone someday.
Looking on the bright side... :-)
https://www.amazon.com/Expedition-Navigator-Liftgate-Supports-Struts/dp/B0030DEQKO
Discount Tire Direct via eBay also has a $100-off-$400 coupon going right now.
:)
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Parting out a car if it's an enthusiast car is often worth it.
Parting out an Expedition with a bad motor? You'll sell a few parts and then have to pay someone to drag the rest off.
Sell it as-is, or let your son go at it. He'll probably need to get a new engine from a junkyard, but they're not that expensive.
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Parting out a car if it's an enthusiast car is often worth it.
Parting out an Expedition with a bad motor? You'll sell a few parts and then have to pay someone to drag the rest off.
Sell it as-is, or let your son go at it. He'll probably need to get a new engine from a junkyard, but they're not that expensive.
I'm not sure if it's this way everywhere, but in Phoenix I had no problem finding someone to haul away scrap cars for free. Sometimes they'll pay you for them.
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It depends on how intact the car is.
If it has wheels and wheel bearings, yeah, the junkyard will probably pay you for it.
If they have to drag it up on a flatbed because you've sold the wheels/tires/brakes? Someone's going to be pretty annoyed with you.
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It depends on how intact the car is.
If it has wheels and wheel bearings, yeah, the junkyard will probably pay you for it.
If they have to drag it up on a flatbed because you've sold the wheels/tires/brakes? Someone's going to be pretty annoyed with you.
Did that. No charge - they just didn't pay me for it.
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Seized? that's it? did it have an oil leak, bent rod?
you can find 5.4 and 4.6l engines on CL for $400-800, running. granted they have not been rebuilt and have 150k+ miles, but still. need a decent lift/crane to pull it out and replace. Expedition should be pretty easy.
If your son does this it should take two weeks max. Curious is it 4X4?
Edit: I meant selling off parts should take two weeks. replacing an engine is a day.
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I am remembering those charities that haul off junkers for a tax deduction... Will investigate and update.
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Seized? that's it? did it have an oil leak, bent rod?
you can find 5.4 and 4.6l engines on CL for $400-800, running. granted they have not been rebuilt and have 150k+ miles, but still. need a decent lift/crane to pull it out and replace. Expedition should be pretty easy.
If your son does this it should take two weeks max. Curious is it 4X4?
Apparently it had an oil leak, the engine seized, destroying it... I don't know the jargon...
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Ah... yeah, get a new engine. You'd need new bearings at a minimum, probably resurface the crank, flush out the oil passages... running out of oil does bad things to an engine.
Unless, say, you had someone with a lot of time on their hands... It's probably repairable.
At a minimum, he should tear down the old engine to learn about the process and see, first hand, why you check your oil level regularly.