I recently purchased a used 1997 Honda Accord LX for $2600 to get me around for a couple years while I finish my degree and look for full time work.

Since I purchased the car, I've replaced the CV Axles, tires, rotors/brake pads.

Total cost of all repairs was about $1000.

I found out today that the oil pump is leaking, and the timing belt now has oil on it. Both will need to be replaced, or I risk having the belt snap in the near future.

This repair will cost approximately $1200.

Is this worth it, or am I better off getting rid of the car, and finding something else? I can afford the repair, though I'm hesitant to spend more in repairs than the car is worth.

 

You have most of the work done already...Find someone cheaper to do the labor..get names from your fav parts store of low cost Mechanics who work on the side for CaSH Money $$$$

 

The leak may be the balance shaft seal which Honda had a campaign to replace it. I would ask the dealership if it has been done and if the repair is still open. On my 1995 they replaced it and the timing belt for no cost. They add a retainer to hold the seal from walking out of the bore.