based on the below, would you fix the truck or just buy another, newer, used one?

truck is a 97 4run v6 3.4L 4x4 w/ ~250k mi. its issues:
timing belt leak.
rack & pinion leak.
1 ignition coil bad.
valve cover gasket leak.
upper & lower ball joints bad, both sides.
4 bad struts/shocks.
bad cat.
trans gasket leak.

for $2500 incl parts/labor shop will:
timing belt service (dayco, replace water pump, timing belt, hydraulic timing belt actuator, camshaft belt tensioner, camshaft belt Idler).
replace rack & pinion.
replace ignition coil.
replace valve cover gasket.
replace upper/lower ball joints.
replace 4 struts/shocks.
transmission service (replace gasket & fluid).
replace cat w/ OEM cat.

my options are:
1. pay 2500 & fix the above, pay to rebuild engine (3k) & trans (2k) should need arise in future, total cost could be $7500 over the years.
2. forgo repairs, drive it locally till it dies, buy another used 4run w/ its uncertainties. 04 V6 ~150k mi = 9k.

my questions are:
1. on the cat, the current one is an after market one (OEM was stolen 3 yrs ago). has it blown smoke back into engine or shortened life of engine somehow?
2. if, over the years, i paid $7500 for option 1 above, is it virtually like having a rebuilt 97 4run? are there any other major repairs that could be awaiting me?
3. which would you do above, option 1 or 2?
4. i'm a newbie so any other advise/tips/insights i should consider?

thanx!

 

If your truck is not rusty, and has had regular oil changes and other simple maint.
I would go for the $2500 repair.

 

0 rust. fairly regular oil changes. i bought it used about 10 yrs ago. thanx!

 

Myself I would not spend the money.

Once one starts paying Labor to repair a vehicle that old time to buy brand new!!

Now if you really want to keep that vehicle do a ground up rebuild other wise it will be no doubt become a money pit.

I have only found one place I might trust to do that kind of work if I can`t do it myself.

 

If the body is good, the truck is payed for, and you can see yourself driving it for a couple more years, I'd spend the $2500 and drive it till the wheels fall off.

 

@wyoming9: what all entails a ground up rebuild? a list of the major projects/tasks?

the only reason i'm considering the labor is b/c i'm not experienced w/ auto work yet + time.

@oldtech: yeah body is perfect. & i love driving it.

man i would pay for a place where you could go, do the the work yourself, use your or their tools, & they had a mech to guide/answer questions as issues arose.

 

That is exactly what I did. had it parked at my mech's shop then showed up on his after hours and weekends, when he was in the shop and worked on it. When I ran into a problem I hung out waited till he was smoking or something and then asked him what I was doing wrong. Cost me 300$ for storage of my vehicle on his lot, use of his tools and use of his discount on parts, and expert advice. However he is like a friend of mine not super close but I would invite him to a party if I ever threw one.
Anyhow the reason I jumped in here is, what I would do in your situation is work on the vehicle I own already, but pick up another I could resale later for what I paid for it. So when the truck was down I would have another car to drive. Once I was certain the truck was good to go I would sell the car.
You don't get experienced in working on vehicles by taking it too the mechanic. You are going to screw up that is fine learn your lessons and move on. recently did a rotor change on my truck. It took me 6 maybe 7 hours to do one. 45 minutes too do the other. I could probably do both in an hour now.

 

Schnayke thats some good feedback. appreciated. wish i hookup w/ local mech like that. exactly what i want.