Like the title says, I have the chance to buy a 1993 Honda Civic with 180k miles for $300. The catch is, it needs a new head gasket. Other than that, the car looks very nice, no rust, etc. I figured I'd buy it, have it fixed up and flip it, hopefully making a few hundred dollars. As of right now I don't know if it's a DX, or LX. I do know it has AC, but no power locks/windows.
I asked my regular mechanic what he thought and he told me, (paraphrased) "I don't think it's worth it, in my experience those cars, especially with high millage don't do very well after this type of repair. They run very hot and burn a lot of coolant, leading to additional issues."
Is this sound advice? Should I seek the opinion of another mechanic? I couldn't flip a car for a few hundred dollars knowing it's a time bomb. That would eat at my conscience.
Oh, and this car has been owned since it was new by a co-worker of mine, a very gentle older lady who has probably never had it over 70mph. Not sure if that makes a difference, but I want to include all the information I have!
Any advice would be appreciated!
Edit: And oh, roughly how much should this job cost me? Average auto repair labor rates in my area is $40/hour.
Edit 2: I forgot to mention, the car still runs nice, she just watches the coolant very closely.
UPDATE:
Not that anyone cares, but I bought it for $300, didn't mess around at all with having it fixed up, and just resold it on craigslist AS IS for $700. I clearly stated it needed a head gasket, etc and it didn't seem to matter at all. Got my asking price in a few hours. $400 profit for a couple of hours "work". I can see this getting addictive. 🙂 Thanks for all the advice guys!
I asked my regular mechanic what he thought and he told me, (paraphrased) "I don't think it's worth it, in my experience those cars, especially with high millage don't do very well after this type of repair. They run very hot and burn a lot of coolant, leading to additional issues."
Is this sound advice? Should I seek the opinion of another mechanic? I couldn't flip a car for a few hundred dollars knowing it's a time bomb. That would eat at my conscience.
Oh, and this car has been owned since it was new by a co-worker of mine, a very gentle older lady who has probably never had it over 70mph. Not sure if that makes a difference, but I want to include all the information I have!
Any advice would be appreciated!
Edit: And oh, roughly how much should this job cost me? Average auto repair labor rates in my area is $40/hour.
Edit 2: I forgot to mention, the car still runs nice, she just watches the coolant very closely.
UPDATE:
Not that anyone cares, but I bought it for $300, didn't mess around at all with having it fixed up, and just resold it on craigslist AS IS for $700. I clearly stated it needed a head gasket, etc and it didn't seem to matter at all. Got my asking price in a few hours. $400 profit for a couple of hours "work". I can see this getting addictive. 🙂 Thanks for all the advice guys!