Here's my situation.

[USC08]

I'm not sure if this is the right section to post so Moderators, please place in the proper section. I will try to summarize as best as I can. I live in Southern California & if you do as well you know how strict the emission laws are. I just found out my 2004 Nissan Sentra (173,xxx miles) that I use to drive to work needs a new catalytic converter ($832 before tax) which I can only get through the dealership because no after market part is available. I have maintaned this car throughout the time I have purchased it (2004). Any services or parts that needed replacing I'd contact my friend who's a mechanic and took care of it. It seems in the past year or so I feel like I'm putting way too much money into maintaining this car. I've replaced the coils, ingnition wires, spark plugs, battery, rear wheel bearings, brake shoes, 3 motor mounts just in the past year and now this issue arises! I feel if I replace the catalytic converter, eventually I'll have to replace something else that will cost me. The car is in good condition. If I were to sell it, I'd get the interior & exterior detailed. Also, it needs new tires. 

So, I'm looking for some suggestions on how I should proceed.

Should I go to my CU and ask for a small installment loan or apply for a auto loan?

Should I just fix the the CAT, then risk if somthing else goes wrong down the line?

Fix the CAT, detail it & put new tires then sell it? The most I could probably get for it through a private sell is 2k-2.5k at the most (correct me if I'm wrong?). I feel if I go this route I'll be wasting money when I can put that towards another car.

Or just sell it as is and get a used car? I'll be lucky if I get $500 for it.

I'm not looking to get a NEW car because I currently have a 2013 VW GLI that I got for me and my GF which she drives herself to work. If anything, I'd rather get a USED card through a private seller. I'd rather not go to the local dealership but that's a last resort. ONE more thing, I'm looking to purchase a 2nd home in the next 12-18 months with my GF. I will detail my current credit profile below. Thank you in advance for any questions, comments or suggestions...

FiCO scores as of October 30, 2014 are EQ: 776 EX: 777 TU: 786

Income: 80k

Credit: 

Amex Costco TE: $0/1.2K (approved on 10/27/14)

Amex Zync: $0

Barclays Visa (NFL Extra Points): $0/$8K

Best Buy (Store Card): $0/$8k 

Best Buy MC (AU) $0/$500

Capital One MC: $0/1.5K

Capital One MC: $0/$3k

Chase (Freedom): $0/$2k

Chevron (Gas card): $0/$1.1k

Citi (Platinum Select MC): $0/$10k 

Dillards (Amex): $381.75/$5k 

Discover: $725.82/$8.3k

Macy's (Store Card): $192.15/$4.5k 

NFCU nRewards Visa: $497.88/$4k

NFCU Cash Rewards VS: $0/$5k

Auto Loan Balance: $20,151.53, $415/month

Mortgage: 191,763k, $1345/month (refinanced and the new loan officially funded on 8/27/14) First payment was 10/1/14. 

It was converted from a FHA to a conventional.

My DM & DS currently live there. So the mortgage will be taken care of. My DM pays for the mortgage through her checking account. I currently rent with my GF.

[Creditwiser]

Hard to say but here goes.  I assume its paid for, 2004, 173k miles.  800 or $900 is two or 3 car payments.  Car payments you dont currently have. The way I see it, everyday you drive that car you're ahead of the game.  Now, that said, what about its overall condition?  Do you still enjoy driving it?  Have you taken it to a "muffler" shop like Midas for an estimate? 

I see youre a member of NFCU.  You could get a decent loan rate with them I'm sure.  It boils down to what you want and how you feel about the car overall.  Yes its possible you're throwing good money after bad but even if you had to spend 1500 on it , you dont have a car payment and likely cheaper insurance on it.

[USC08]

Yes it's paid for.

The overall condition of the car is great. The engine is in great condition. I actually bought it at a local dealership when it had 29k miles on it. It was a previous rental car.

Do I still enjoy driving it? I'm 50/50 on that. I would like to get a Used Ford Ranger or a Used Toyota Tacoma.

I have not taken it to a "muffler" shop but my friend who is a experienced mechanic who went to UTI, worked at Mercedes, in the trade etc. He has all the tools to assess the situation if anything should arise.

Overall, I wouldn't mind keeping the car BUT at the same time I wouldn't feel comfortable knowing if a major mechanical issue might occur in the next couple months to a year. I want something steady and in good-great condition for the next few years. I mean it's great I don't have a car payment but I don't want to feel like I'm wasting my money either.

[Creditwiser]

Ok so your leaning toward a "new to you " used car. A decent Tacoma for 12-15k. A Ranger for even less or perhaps a newer used Ranger .You could easily get a low rate from Navy if you wanted to go that route. Sell the Nissan, as is, and put the 1 to 2k toward your truck. You definitely got your moneys worth out of the Nissan.  Sometimes its just time to move on.

[USC08]

I've actually been researching on automobile websites and have seen some 2005+ Ford Rangers for really good prices under 15k with miles under 60k, but with a decent 2005+ Toyota Tacoma with decent mileage are little hard to come by with a good price range because they still hold a lot of value.

[sccredit]

Ford Rangers are good little trucks.  

The reality is with the mileage on your current car you are coming up to repetitive repair bills.  There will be something after the cat.  The question is are you willing to keep dealing with that.  I've been where you are.  At a certain point you are paying enough to keep repairing the car that you are basically making a car payment.  Sounds like you have hit the point where you're pretty done with the repair game?

[USC08]

Yes, i'm pretty much done with the repair game! Thanks everyone for the comments & suggestions!

[sccredit]

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@USC08 wrote:

Yes, i'm pretty much done with the repair game! Thanks everyone for the comments & suggestions!

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If thats the case app at NFCU and go get your new truck.  Good luck.  

[ohvrolla]

Magneflow cat off Ebay for under $100 and a muffler shop would put it on for under $100.  I'd clamp one on in a pinch. To me the bigger question how was it determined to be bad. Modern fuel injected cars are pretty easy on catalytic converters. The car running overly rich, misfiring which would dump fuel into the exhaust, or burning oil would kill one. FWIW a pressure test is one of the better ways to test for a clogged cat.

[Creditwiser]

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@ohvrolla wrote:

Magneflow cat off Ebay for under $100 and a muffler shop would put it on for under $100.  I'd clamp one on in a pinch. To me the bigger question how was it determined to be bad. Modern fuel injected cars are pretty easy on catalytic converters. The car running overly rich, misfiring which would dump fuel into the exhaust, or burning oil would kill one. FWIW a pressure test is one of the better ways to test for a clogged cat.

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He might be having issues with California emissions ??