Decision Time

Should I sell my LS?

  • Yes! Go boring, but reliable.

    Votes: 16 40.0%

  • No! Spend the money, live it up, keep the excitement!

    Votes: 24 60.0%
  • Total voters
    40
  • Poll closed .
Elemino

Elemino

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The LS has been out of commission since mid August. Since I bought the car in 2012, I have not been able to drive it for longer than 6 or 8 months before it needed to sit up again because something needed to be repaired. The previous time was because it needed tires I couldn't afford at the time and it wouldn't pass inspection. This time it's because the oh so common transmission failure.

I paid about $5400 for the car, expecting it to be a cash car that I would just fix when things went wrong and keep going, but now I'm starting to wonder if I should keep down this path. Since purchase, I put about $2200 in repairs into the car (all work I did myself), which means that I pretty much know what to expect from it now. A couple months before the transmission died, I replaced the driver side window regulator. The A/C leaks, and while it works perfectly fine when recharged, it needs more gas added after about a month. The estimate to get the transmission rebuilt is $2200 - $2400 or $2950 for a re-manufactured tranny in which they use better parts than oem. No clue if that includes taxes or not.

The question here is should I cut my ties with this car? I know it needs more work... the valve covers leak around the plugs for instance. I love the car, but I don't like bleeding money. If I do the transmission repair (and no doubt I'd get the better transmission that includes a 3 yr 75,000 mile warranty), that means I've put about $10,600 into this car... that doesn't include any of the custom work I wanted to do to it. I just feel like my money would be better placed in a boring, but reliable toyota or honda. Not sure what I could get for it without a working transmission. It does have a Viper remote start two way paging alarm installed though.

Tax return coming soon... what to do?
 
What about a junkyard tranny, to install and ship the car down the road? You net better cash off the deal and have money to put towards another car.
 
Bluntly, if you have to ask you're likely better off with a rice-burner.

I bought mine new and have done maintenance as necessary for the past 153 K miles. I may have it for the rest of my life. I have other transportation so there are times it isn't driven daily but it hasn't been out of service for as much as a week total except for the time it was in the fabricating shop to have the roll cage installed.

Having paid your $5K you bought a car that's been 'rode hard and put away wet'. You are now reaping what previous owners sowed. Sorry!

KS
 
hmm gotta ask: what exactly is the symptom on the tranny?
03 with how many miles?
 
What's your price range for a new Honda or Toyota? If it's about the same as what you paid for the LS, you might find yourself in a similar situation with a car you like less. Maintenance history and condition matter a lot more than brand after a certain age. You could lose all of the money you already put into the Lincoln to buy a car with similar problems.

On the other hand, the lack of complexity and relative availability of parts (including used/junkyard parts) tends to make less interesting cars cheaper to maintain, but it's no guarantee of problem-free service.
 
There is no such thing as a car project that doesn't bleed money. Personally, I do the minimum maintenance necessary to mine to keep it running correctly. So far that means 4 new window regulators, new front hubs, a new trans solenoid and new rear links. I have more to do as well. As soon as I get into a house I own I plan to send it on down the road. I'd always wanted one which is why I bought the car to begin with, but it didn't take long before I was wondering WHY I always wanted one. After I move into my new house I will be selling mine and if it doesn't sell within a couple of week I dislike the car enough to trade it in and take the loss. This is, of course, one man's opinion. There are others here who like them enough to own several LS's.

The long and the short of it is, if you like the car, keep it and don't worry about the money. If you don't like it, sell it. If the money spent is a concern, sell it because that part is only going to get worse. It's a low production car, parts are starting to become scarce and LS-specific parts will soon be either expensive or unavailable. Some parts are already unavailable. If you really like the car and plan to keep it a long time, and if you have the room (live on acreage instead of in town) consider buying up any other LS models of the same generation to use as a parts bin. In a few more years you will be able to make some money around here.
 
Do what I did (although my '03 was purchased new so I know it's history). Calculate the monthly car payment on what you're thinking about buying. If you love the Lincoln, put that monthly payment in the bank. You'll be way ahead. A $400-600 monthly car payment buys a lot of parts/repairs....particularly if you can DIY. Unfortunately you don't know the history of the car.....it could be a money pit. Only you can make this decision.
 
Thanks for all the opinions guys.

After I posted this, I started looking at the car again, remembering why I've always wanted one, and started watching videos on YouTube of the exhaust sounds of the guys that swapped from factory to aftermarket. I'm not sure how long I can keep this up, but I'm not ready to let it go just yet. Part of the problem is the car is no longer special. In it's day, a V8 sedan was rare enough, but it had 280hp... That was nuts back then. Now just about every V6 on the market ties or beats that.

I'm not ready to take on another car note... I've been considering buying a Scion TC (The only car Toyota makes that I actually liked), and they apparently hold their value fairly well. The '05s were around $14k new, and today they sell for around $4000 in fair condition, around $6,000 for good. In comparison, I'm being told my '03, $40k LS is worth about $3800 today if it was running. That's all besides the point... I was thinking about getting one as a fuel efficient alternative to my Navigator to use for commuting, and I was thinking now may be the time to get one. I've decided, I'd rather just use that money on the vehicles I have now. The LS needs the transmission fixed, and the A/C repaired because it's leaking. The ABS light came on last time I started the car, it may be the computer issuing transmission codes, but it could be another possible issue. Either way, no payments for now, I'd rather put the money into fixing the LS, the airbag suspension on my truck, and doing some customization if I have anything left from my tax return.

My cousin asked if I wanted to sell it, and suggested I look into buying a Mustang. While I would like a Mustang, I would rather have one of the newer ones, plus I doubt they can handle corners quite as well. lol

I've decided to stay broke and enjoy her for a while longer. I'll keep y'all up to date on the progress... Soon I'll start back with the other projects as well, and I can contribute a little more. I haven't really posted anything since I figured out how to install switchback bulbs on it, and that was quite a while ago.

Thanks for the input!
 
I've had my 04 LS8 since new (54,000 present miles), but at my age and my wife's age, we need to make a decision if we want to keep her or not.

It's not just the money factor. It's the lack of trust regarding the car and the hassle BS with the dealer once something goes wrong. (Same for my 2003 TBird.)
 
I can't see the LS out-turning a newer Mustang. Maybe the LS takes corners better by being more comfortable, but the Mustang's suspension isn't sacrificing as much performance to be luxurious. Solid axles have come a long way. I haven't really pushed the 13/14 GTs in the turns considering I drive them for work, but they definitely hold their own the turns.
 
LSFrank said:
I can't see the LS out-turning a newer Mustang. Maybe the LS takes corners better by being more comfortable, but the Mustang's suspension isn't sacrificing as much performance to be luxurious. Solid axles have come a long way. I haven't really pushed the 13/14 GTs in the turns considering I drive them for work, but they definitely hold their own the turns.
Click to expand...

The new Mustangs have a fully independent suspension, so that advantage for the LS no longer exists.
 
jerrym3 said:
I've had my 04 LS8 since new (54,000 present miles), but at my age and my wife's age, we need to make a decision if we want to keep her or not.

It's not just the money factor. It's the lack of trust regarding the car and the hassle BS with the dealer once something goes wrong. (Same for my 2003 TBird.)
Click to expand...
I trust the car will run fine after the transmission replacement, but there are other things that need to be fixed.

The AC leaks for one, and I have no clue what it will cost to fix it permanently. The valve cover seals need to be replaced so the coils stop failing. And I don't know why the ABS light was on.

But there's no promise that if I buy another car, I won't need to fix things all over again. At least I know what's wrong with this car... And it is fairly easy to work on compared to other cars I've touched.

The two biggest things that make me want to keep it are the looks (it's an awesome car), and the power from that v8 when you step on the gas. Sure new cars have that and are faster, but I don't already own those.
 
LSFrank said:
I can't see the LS out-turning a newer Mustang. Maybe the LS takes corners better by being more comfortable, but the Mustang's suspension isn't sacrificing as much performance to be luxurious. Solid axles have come a long way. I haven't really pushed the 13/14 GTs in the turns considering I drive them for work, but they definitely hold their own the turns.
Click to expand...
I wouldn't get a newer Mustang anyway. I'm not signing up for another 5 year commitment anytime soon, meaning at best I'd be looking at an '07.
 
Elemino said:
... The valve cover seals need to be replaced so the coils stop failing. ...
Click to expand...

That won't keep the coils from failing. The good (OEM) ones will still fail every 60K to 100K miles. The E-Bay ones will fail much sooner.
 
What in the world is the dither regarding replacing coils every once in a while? It used to be that a 'tune-up' was necessary to replace the plugs, the distributor cap, the points, the rotor, and the condenser. This was necessary about every ten thousand miles and if you put it off 'til fifteen thousand the performance and the mileage were both degraded. I've replaced my COPs once, at about 100K. I put in ACCELs. In the near future I'll put in a set of Coyote-type coils (They haven't arrived yet.)

EVERY CAR REQUIRES SOME DEGREE OF MAINTENANCE!

KS
 
I agree. I remember when it was replace (or rebuild) engine or car every 100K miles or sooner.
 
joegr said:
I agree. I remember when it was replace (or rebuild) engine or car every 100K miles or sooner.
Click to expand...

We had late '60's model VW's. We had to replace the sparks, adjust the distributor points and set the timing every 3000 miles. Oil changes were about every 1500 miles. Our '68 Beetle's first motor threw a rod at about 80k. The reman motor went after about 70k. The '66 Variant (same pancake motor as the bus and fastback) got about 70k before throwing a rod.
 
cammerfe said:
What in the world is the dither regarding replacing coils every once in a while? It used to be that a 'tune-up' was necessary to replace the plugs, the distributor cap, the points, the rotor, and the condenser. This was necessary about every ten thousand miles and if you put it off 'til fifteen thousand the performance and the mileage were both degraded. I've replaced my COPs once, at about 100K. I put in ACCELs. In the near future I'll put in a set of Coyote-type coils (They haven't arrived yet.)

EVERY CAR REQUIRES SOME DEGREE OF MAINTENANCE!

KS
Click to expand...

The issue was all those parts only cost about 5 bucks total, and there was only one coil mounted to the firewall or the engine with a one screw bracket to replace. It wasn't eight 50+ dollar each coils requiring pulling parts off to get at them.
 
Tel, have you checked prices lately? I've replaced coils once and plugs twice. Back in flathead days plugs cost fifty cents apiece and a set of everything for the Diz cost between five and ten dollars. But I was happy to work, during my first summer in college, for seventy five cents an hour. (I also walked miles through the snow to go to school and it was uphill BOTH ways!);)

KS
 
cammerfe said:
Tel, have you checked prices lately? I've replaced coils once and plugs twice. Back in flathead days plugs cost fifty cents apiece and a set of everything for the Diz cost between five and ten dollars. But I was happy to work, during my first summer in college, for seventy five cents an hour. (I also walked miles through the snow to go to school and it was uphill BOTH ways!);)

KS
Click to expand...

Yes, I know. I did say now it's 400+ dollars just for coils these days. What makes it bad is you just about have to change them every other month. I'm just hoping my own LS's coils will last another 4-5 months.
 
121000 miles on my 04 LS 3.9 Ultimate. Put a new tranny in 2 years ago so I voted for spending money and keeping the car. Runs great with an occasional COP replacement. Just put in a new EGR valve to smooth out the idle. I am still in love with the power and comfort. And it looks good too.
 
Telco said:
Yes, I know. I did say now it's 400+ dollars just for coils these days. What makes it bad is you just about have to change them every other month. I'm just hoping my own LS's coils will last another 4-5 months.
Click to expand...

It's been years since I have had to change the COPs on either of my LSes. (both driven daily) If it's months for you, maybe you are doing it wrong?
 
joegr said:
It's been years since I have had to change the COPs on either of my LSes. (both driven daily) If it's months for you, maybe you are doing it wrong?
Click to expand...

They were replaced right by a Lincoln dealer before I bought mine, was dinging the fact that the car runs an 8 coil system and they don't last 100K miles when other makes go better than 100K miles with single coil systems. On a multicoil system the coils should go a minimum of 300K miles, since they only fire 1/8 as often. The LS coils fail way too often, and when they fail they are known to take the PCM with it, which IMO is another WTF moment with this car.
 
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