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1985 DL needs work- is it worth it? 200 1985

I have a 1985 volvo DL that has been deemed " totalled" by my mechanic- I paid 1500 for the car, and it lasted me about 9 months.- I don't know much about cars, but I know that it needs a new catalytic converter and wiring harness (the old one is rotting through I guess) - and the estimate was at about 1500 with used parts ( I think there is something else wrong with it that I can't remember- something about related to a fan and the power steering). the car is in otherwise good shape- some rust but not too bad. It's been sitting in a lot for the last seven months- I ended up picking up a 1990 240- and I've been debating what to do with my old car. The mechanic said he'd give me 100 bucks for it... like I said- I don't know much about cars- but I love volvo's (this is my second, and definitely not last) and I wouldn't mind knowing a thing or two about repairing them. I've done alot of electrical wiring in cars- not much about mechanical stuff- but I'm not afraid to try- would repairing this car be worth my time or would I be jumping in over my head?- is there a book that would help me out? also - my mechanic quoted me something like 400 bucks for a used catalytic converter- is there a place I can find a cheaper one?
thanks for any help.
Luke






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