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I have a 2003 LX 4WD CRV with 119K miles. Last week, while my son was driving it, a drop valve came off and destroyed the cylinder. (this is the abridged version from my mechanic)

A used engine installed will cost $3300 (5 year warranty included). The car itself is in fair/good shape, and well maintained. Worth about $4500 if I were to sell it privately.

So of course, the question is, do I replace the engine, or move on. I know this is a straight opinion question, as the pros and cons of selling it or keeping it are clear: Getting $700 from my mechanic as is, and facing a car payment for a decent used car and insurance increase (I've looked at Camry, Accord, Civic, Mazda 3) which my college-aged son would be burdened with, or do I fix it and hopefully get a couple few years before the transmission goes, etc...

Being a life long Honda owner (6 cars), I'm disappointed that the engine failed so early, though I know I have no recourse with Honda.

Any helpful opinions are appreciated :)
 

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With what I've seen on the used car market, I'd say fix it. You know what it's history is and will have a 5 yr warranty on the engine. IF it's from a reputable place what can go wrong?
Seems the pro's and con's numbers should be pretty easy to work out. How much will insurance increase with a different car?
 
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