I just got some bad news; my beloved 1998 V70 AWD (206K miles) may need a new catalytic converter. I am told that it may be as much as a $2500.00 job (the muffler shop I got the news from will not do the job--they are not trying to make money from me). At 206K miles, the car will also need a new timing belt soon (around 210K). The car runs very well--strong engine and transmission, good A/C, etc.--and I was hoping to keep it running, but I feel I may be at a tipping point; a $3000 investment in a 20-year-old car seems a risk. For all I know, other things could fail soon as well, such as transmission, bevel gears, etc.

So I am seeking advice from the wisdom of Brickboard. I have thought of perhaps buying a similar V70 being sold as a parts car and swapping out the converter, then junking the parts car (would a converter from a non AWD, non-turbo model fit my light-pressure turbo?), looking for a used converter at a pick-n-pull (though the muffler guy told me that generally those sell right away because of precious metals), paying to keep the car running, driving it until it no longer runs, or selling it before the problems get worse (of course, I would tell a buyer about the cat and the timing belt).

Best car I've ever owned, but I supposed nothing lasts forever. Thanks.