My first car, a Renault Laguna has just died. Fortunately already had some savings, I was expecting this.
The thing is, the car that I fell in love with is somewhere around 35 years old. I do not know the mileage, but I will contact the owner soon.
I have found a very nicely kept Charade GT ti that has been slightly modified. The seller wants 3400£ for it.
My family thinks I am crazy for wanting this as a daily car. I on the other hand feel more comfortable buying an old car that has been renovated this nicely than I do buying a 10-15 year old car that has high mileage and old factory parts. I am not a mechanic, but if I had a car that I loved like this one, I would gladly learn to work on it, not sure how realistic this would be though.
Here is the list of new/modded parts: New crankshaft and pistons, blow off valve, "lowered head" (not sure what it means), sport exhaust, increased turbo pressure, larger pump, Honda intercooler, disc brakes, Bilstein suspension, and an elegant and minimalistic body kit.
Pics at bottom
My questions are:
1. Is this car a guaranteed money sink?
2. Would it lose or gain value over time with regular maintenance?
3. What should I pay attention to when I go to check it out? Where would rust be most likely?
4. Is it possible that this car could serve me for about 7-9 years?
5. Is it hard to get replacement parts?
6. Would this be a worse investment, than a 10-15 year old car that still has factory parts?
7. In my circles 1.0l engines are notorious for having a short lifespan, would this be an issue with this model?
8. Should I worry about emissions?
9. I have seen a model with 600k km in Indonesia get sold for 6000£, is this a good sign?
Any info is highly appreciated. Thank you for your time!