Just got a 3KGT, with some problems

Hi all, as this is my first post....anyways, I bought a 94 3000GT VR4 a couple weeks ago with 154000 miles. I got a pretty good deal on it as at first it seemed like there was not much wrong with it, he did point out that I'll have to replace the exhaust system soon because it sat for like 2 years and has rusted. Well I got it home driving it from Phili to my house in northwest indiana and everything went fine, but I decided to take it to the Mitsubishi dealership by my house to get a diagnosis on it. Well I figured out that the exhaust system has a whole in it, the turbo seals are leaking oil (external seals luckily), the 4 wheel turning system doesn't work, active aero doesn't work, and a bunch of other little things. I plan on fixing most of it, but I was just wondering if I would be better off fixing the big things like exhaust and turbo seals and turning around and selling it? I can fix those 2 for about a grand, b/c I got such a good deal on the car that I could turn around and sell it and make a couple grand. Main reason for me asking this is the high mileage on the car, I'd rather make the few grand to free up some more credit and go get a lower mileage 3000GT. Do you think that I should do this? Or are these cars pretty good about mileage, b/c I can't really afford to rebuild the engine and all that anytime soon. Thanks

Personally, I would go with a lower mileage car.

Fix & sell.

:iamwithst The DOHC's are unreliable enough when they don't have over 100K, and yours has 150K. Good deal, but with the ammount of money you'll have to shovel into it, I personally think it wouldn't be worth it.

yea, with the situation you described, sell it and get a lower mileage one later on down the road when you can afford it...

Check out the FAQ and decide. And I personally wouldn't deal with a Mitsu dealership, 98% of the time they are idiots or ripping you off.

With so many miles and stuff already going wrong... id sell it... On a non-turbo there would be a possiblity of getting by.. but on vr4 more stuff will prob. go wrong faster... In reality its all about gambling, you have to decide whether or not the risk is worth it... your decision in the end.. either way you are the one who has to deal with the consequences:2cents:

I would have to go with everyone else. Fix it, sell the car, and buy a lower milage car. With a performance car 150K just too many miles. Plus you know its most likely been tourchered by someone.

if u dont mind me asking....how much did you buy it for?
and if your gonna resell do it on 3si.org-yourll find some buyers there the only bad thing is they know hoe much they are worth ;)

well if i sell it, i wanna get around 8,500-9,000 for it. I know the retail value is between 10-11. I think I am gonna sell it tho after I fix the exhaust and turbo seals, I'll post it on 3si and autotrader probably as I got it off autotrader and the guy I bought it from had it up for a day before i emailed him. He was telling me he was getting about 15 emails a day and 10 calls or so a day asking about the car, 3 people called alone while we were finalizing the stuff, so I know people will buy it, as people were offering a lot more than i payed for it to sell it out from underneath me. Another question tho, I'm thinking the hole is on the downpipe, should I just replace that and sell it, or throw on a performance pipe on it. Not sure how the worth will be affected as I know some people like to restore cars to stock while others want it for performance. Just lookin for some input, I'm probably just gonna go the cheapest route cuz im strapped for cash at the moment.

id go with the stock downpipe... its most likely cheaper and most people would prefer it to be stock..

Check out the FAQ and decide. And I personally wouldn't deal with a Mitsu dealership, 98% of the time they are idiots or ripping you off.

A-MEN!

Well my car is smoking like crazy now, is this just the exhaust leak getting worse? About everytime i push the gas it just starts smoking then once i get going its fine. Its weird how it was fine before i took it to the mitsu dealership the bastards. Could it be the oil they put in it? I forgot to ask what they put in it.

Smoking is not an exhaust leak. An exhaust leak you can see heat, and exhaust (at night) coming up from under your car, from the leak.

Smoking, in daylight, is fluid being burned most likely. If it's bluish, that is oil.

yea, what color is the smoke anyways?? If white, it's most likely coolant...

...Valve stem seals?

Well I checked the coolant and it was low but thats not it. I think its the turbo seals leaking and burning oil. Because it smokes a little or not at all at idle but the second I give it gas it just blows out smoke like crazy out both turbos. My grandpa took a look at it and he was a mechanic for like 30 years and he told me it was the turbos and both had the problem as they were blowing out the same amount of smoke. So I'm garaging it until I get it fixed.

Yeah that sounds like turbos or shot piston rings.