When my wife asks why I bother with "Money Pit" aka "Frankencar," I say, "Because she's worth it, . . . just like you, dear."

 

If my car was cut in two, I'd weld it back together.

 

Every car is repairable, of coarse it takes time, devotion and money.

 

The only thing that matters is that you have the wherewithal to fix the car, and you like the car enough to do what needs to be done.

If you're expecting the car to be an investment that returns money to you, obviously that's a different story.

I would point out that if you buy a brand new car, as soon as you drive it off the lot, you have lost money. So it's not about return on investment. It's about what do you really want, and are you willing to pay for it.

I have three birds, an 86, 87, and 88. We paid $700, $200, and $475 respectively for them. The $200 one was my son's daily driver. The $475 one is my daily driver, and the other one will eventually be my daughter's. All three are registered and insured, and I have to make repairs every now and again. I don't care. I like the cars, and I have spent way less on them than I would have spent on just one "good used car".

Do what makes you happy, as long as you do so with your eyes open.