I had this same situation a few weeks ago. So i made a few lists:

Money/time invested.

Money/time that needs to be invested in the short term.

Money/time that you might have to invest in the year after this.


Compare that to what you want the car to cost you. Only you can determine if it's worth your time. In my case i decided to spend the garage time to get to know my car better and get a feel for mechanical work.

Sure I use lots of "power words" when im under my car but damn i feel good when i know i have done a honest job and im confident the part i changed will last me a few years more. This justifies the money spending on my 744 1988.

If you want it to live, rustproof and paint everything and that car should last you some time. Old cars need work, thats just the way it is.

I love my 700, i might not have the know-how to change all the parts but i can damn well get my hands around all the parts so i can pry them loose and have a mechanic fix said part in his shop. No need to dismantle the whole damn car to change generator/waterpump/starter/tranny and so on.

And as a bonus you might become a rambling brickophile like many others of us brickers :)