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A remarkable video demonstrates that paying $40,000 and up for a new car today is not necessary when there are so many used cars still running (albeit rather poorly) that are not only affordable for someone with limited finances but also have one key feature newer models do not have—DIY repairability.
Related article: Best Reliable Cars Under $10,000 Available Today
1993 Ford Taurus on Its Way to a Scrapyard
In a recent Shyzah YouTube video, a 1993 Ford Taurus is saved from a junkyard after the host approaches a seller with an offer of $400 for the still-running vehicle rather than the seller taking it to a junkyard as planned.
Was this a good deal for the buyer?
A quick Kelley Blue Book website search states, "A 1993 Ford Taurus has depreciated $122 or 9% in the last 3 years and has a current resale value of $1,180 and trade-in value of $540."
However, with all else being equal, regarding the exact trim, mileage, physical and running condition, etc., Blue Book values are rough approximations based on a car they categorize as "Good" condition.
To qualify as "Good," the vehicle should:
- Have a clean title.
- Run reasonably well for its age and mileage.
- Possess no significant mechanical issues.
- Have no major automotive flaws, such as body damage.
- Have a good appearance, with a still shiny paint job and interior and exterior with very few dings, scratches, or defects.
- Possess a rust-free body or, at worse, has very little rust.
- Come with matching tires with considerable life left to them.
As it turns out, the 1993 Ford Taurus shown in the video would fail miserably under most of these requirements. However, it could move under its own power long enough for the new owner to drive home.
Its junkyard value would have been $500 at best, but more likely, it would have been closer to $100. The dealership's trade-in value would have been similar.
Whether this was a good deal for the buyer can only be answered with what happened next.
Related article: The Best Website for Finding a Good Used Car
1993 Ford Taurus Rebuild
According to the new owner, the vehicle was being let go because the repairs it needed exceeded its value to its past owner, had failed its emissions testing, and there appeared to be some issue with the car's title. However, despite these problems with the vehicle, its new owner saw value in it based on its history as a best-selling U.S. model for five years and thereby potentially worth saving today…approximately thirty years later.
The value I saw in this video is reflected in a viewer comment that is spot-on with not just a common problem today but one that also has an answer:
In Praise of Older Models
With the average cost of a new car today being above $48,000 and many popular models commanding much higher prices, it is time to reevaluate the real value of a daily driver to the budget-minded car owner.
However, it is not just the cost of new cars that is a problem, but the added complexity of modern models wherein repairs are extraordinarily expensive. Not failing to mention the added costs tagged onto some models, such as higher than normal insurance coverage.
For many of us, the answer to these problems may lie in seeing the value the new Taurus owner saw—the car has problems, but they are fixable problems.
In other words, the possibilities are endless with some mechanical ability and experience coupled with a repair manual, some common sense, and a Can-Do attitude.
Related article: What to Do with a Used Car That Needs to Go
The Taurus Rebuild Video
To understand what I am trying to convey, I highly recommend watching this video and discovering the excitement of not only using your hands to build something anew but also the intrinsic inner value of doing so, as well as saving yourself from an unnecessary life of car debt.
It is truly a rare and inspiring video to watch, even if you have no intention of turning a junkyard car into your own daily driver.
Turning a $400 Junkyard Car into a Daily Driver in 10 Minutes!
Should You Attempt a Car Rebuild Like in The Video?
As with any project, the most important step is having a plan.
Following a plan, you will need tools, a space to work in with the expectation it may be months before the project is finished, a running car to keep you mobile while the project is in progress, and an understanding spouse.
You will also need knowledge and experience. My advice is to start small and work your way up in your tools and skill set. If you do not maintain your car for every maintenance and repair short of an engine or transmission rebuild, now is a good time to begin before tackling a rebuild.
However, if you are willing to spend an initial few hundred dollars on an old car and have more than enough time to allow the project take you wherever it will, learning from a rebuild without risking your primary means of transportation works just as well…and can be enjoyable.
Lastly, there is your self-education. A plethora or YouTube videos that cover many makes and models when it comes to automotive repair as well as automotive mechanic educational videos and car model-specific repair manuals will help guide you through all that you will need to know to make that project a daily driver success.
For an informative article about all of the above, please refer to this article titled, “Avoid the Traps and Pitfalls of Reviving a Classic Car and Winding Up in Car Project Hell.”
For additional articles related to finding that gem-in-the-rough used car, check out these recommended articles:
Best High-Mileage Used Cars Recommended by Consumer Reports
Best Used Cars of the Year: The 10 Top Picks by Consumer Reports
Dodge Dart Lesson for Potential Project Builders
Timothy Boyer is an automotive reporter based in Cincinnati who currently researches and works on restoring older vehicles with engine modifications for improved performance. He also reports on modern cars (including EVs) with a focus on DIY mechanics, buying and using tools, and other related topical automotive repair news. Follow Tim on Twitter at @TimBoyerWrites as well as on Facebook and his automotive blog "Zen and the Art of DIY Car Repair" for useful daily news and topics related to new and used cars and trucks.
Image Source: Deposit Photos
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