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Old 03-31-2012, 07:17 PM
Jeremy5848's Avatar
Jeremy5848 Jeremy5848 is offline
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Join Date: Mar 2006
Location: Sonoma Wine Country
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Especially since the car is "in the family," it may be worth fixing (a) if the car has emotional ties for you and (b) you plan to keep it for another five or ten years. Based on your description, it sounds like the engine needs (at least) a new head gasket and, depending on the head number, a new head [new to the car, could be previously used]. The transmission probably needs an overhaul, too. Those are the big things.

Replacing the head gasket and/or the head may be within your ability but given that you work, you should plan on the car being in your family's garage for a week or more. I replaced the head on my '87 300D Turbo (same engine as yours) and it took me several days because I was learning as I worked. I don't know how many shop hours are given in the books for that kind of job; perhaps someone here does. Multiply by $100 per hour to arrive at a total if you have to pay someone to do the job. Add $1000 if the head is to be replaced with a (used) later number. A head gasket kit and other parts (you never know what you'll find) will add at least another $500 and I am being very generous -- others will want to double my numbers.

Getting the transmission fixed is also expensive and is something that very few people can do themselves. The least expensive way would be to buy a used transmission; your total cost might be as low as $1000 but you are shooting craps as the "new" transmission may die in a few thousand miles. People usually go that route only for cars they are selling, so that the problem goes away with the car. Such folks also have the ability to install the transmission themselves so their cash outlay is very low. You may not have that luxury. Rebuilt transmissions are available, somewhere around $1500 plus shipping and installation. Results are usually good although some have had reliability problems. A complete overhaul with R&R by a reputable local transmission shop that stands behind its work will cost you around $3000 (California prices). You may be able to get the work done for less but caution is advised.

Bottom line: It's probably not worth it. You could buy a similar car in better condition for less than it would cost you to repair yours. This is a pity, because your car looks good otherwise and it would be a shame to have it hauled off to the junkyard.

Jeremy
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