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Q: Rack and Pinion Needs Replacement... should I do it? on 1996 Honda Accord

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My power steering went out 3 days ago, took the car into the shop and found out the rack and pinion leaks terribly.

I just bought this what I thought was reliable 1-owner, low mileage (it's at 119k now), 1996 Accord LX this past summer for $2500.

I'm still getting quotes but so far, for parts and labor to replace the rack and pinion, it'll cost me $975!

-Is this something I should get fixed for sure?
-Do you think this is a "lemon" type of issue? If so, should I try to sell the car before or after getting it fixed?

Thanks for any suggestions!
No car image 94a1663db56199c5353592009e34aaa51078a2469bed068bb8d6f0ba43accf97
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I don't know how common this is on Hondas, but every other type of vehicle I've worked on has had this issue with leaking steering racks. While this is an expensive repair, you presumably still have a nice car with low miles, and this is not a sign of other failures in the future.
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