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Hi all- Just wanted to get some opinions on my latest dilemmna. My 1996 Toyota Corolla 163K miles on it, needs a new engine. I have a great auto repair shop that I trust, who found a replacement engine with 95K miles on it. The total cost with parts and labor, tax etc will be about $1800. I know Toyota's can last a very long time, but I Blue Booked my car and it came in about $2000 in value, so the repairs cost almost as much as the car's value. I had figured this would happen, but now I'm not sure what to do-Go ahead and repair it, or get a new pre-owned car. I'd like to keep it at $4000 or less for my next purchase, but was wondering if I should just replace the engine and spend $1800-2000 or spend the 4k or so on a new one. My current car is in fair shape-all the years of WI winters and now Tulsa's roads have taken it's toll. It may need new brake pads within a yr or so, otherwise up until now, it ran very well.
what would you all do???
Hi all- Just wanted to get some opinions on my latest dilemmna. My 1996 Toyota Corolla 163K miles on it, needs a new engine. I have a great auto repair shop that I trust, who found a replacement engine with 95K miles on it. The total cost with parts and labor, tax etc will be about $1800. I know Toyota's can last a very long time, but I Blue Booked my car and it came in about $2000 in value, so the repairs cost almost as much as the car's value. I had figured this would happen, but now I'm not sure what to do-Go ahead and repair it, or get a new pre-owned car. I'd like to keep it at $4000 or less for my next purchase, but was wondering if I should just replace the engine and spend $1800-2000 or spend the 4k or so on a new one. My current car is in fair shape-all the years of WI winters and now Tulsa's roads have taken it's toll. It may need new brake pads within a yr or so, otherwise up until now, it ran very well.
what would you all do???
When the cost of repairs exceeds the book value, it's time for a new ride. Even if your car isn't in running condition, you can still get $500 scrap value for it. I've seen some decent vehicles in the $4K-$5 price range.
Agreed Right now the BB value and projected repair cost is pretty close. At best the BB value is 5-600 more than current repairs, so I think the writings on the wall
If it has the V6 3.0 in it, unload it. Those were engines with known design defects. The main issue is the cams are cooled by the oil and not by coolant. This causes the area to run extremely hot and coking of the oil occurs. They are also known for sludging the engine due to poor ventilation design. Toyota has been selling cars off of it's previous history, before the 1990's. They are not the bulletproof car folks want to believe in. Frankly, some of their new vehicles are a wreck waiting to happen. Otherwise, a 4 cylinder engine, if it's a 22R engine, they are of the old Toyota design that made the Toyota reputation. That engine is worth rebuilding as they run a long time. But the decision is yours, spend a little or spend more on a car that you're not familiar with and may end up having to spend more to keep it running. You could end up buying a very used flood damaged car that has a lot more miles under it than the speedometer shows.
Spend 4K on a new car, and consider financing a little more for a better car since it sounds like you keep your vehicles for a while. Shop smart, use carfax and get it independently inspected before buying if you are not sure what issues to look for.
If you are going to leave the Salt Belt, I don't see the sense in putting a new engine in your rusty old car. Trust me, it's rusty. The rust may not have broken through the door panels, etc. but it's there. Although if I understand your post you are now in Tulsa, so you moved but not far enough to escape the Rust Belt.
That said, why do you say you need a new engine? I had the head off a 3S-FE Toy engine in my old Camry at 160K, to replace the head gasket, and the cylinder bores looked about mint. Of course the 96 has a different engine, if you have head bolts pulling out of the block, that's a fairly large repair job but not impossible.
When the cost of repairs exceeds the book value, it's time for a new ride. Even if your car isn't in running condition, you can still get $500 scrap value for it. I've seen some decent vehicles in the $4K-$5 price range.
IMO, I would go with the new motor. Granted it costs just as much as your car is worth, its still less money than buying another car, and you can use that $2000-$3000 savings to keep up your current car
My situation however was a little different. I had my 2003 Nissan Altima motor replaced at 61k, with a motor that has 0 miles! It now has 40k miles two and a half years later and runs great still, but I had a warranty when my motor was replaced so Nissan paid that, not me. My cat had failed which caused the motor to die at such a young age
Even if your car was worth $1000, it would still be less money to spend $1800 for a motor than to spend $5000 on another car. I think we as Americans throw away cars too easily. But then again, this is just personal opinion. I for one REALLY love my car even though its just average at best and will keep it until the day it dies and repairs outweigh the cost of another car
Thats what I think it should be. People should refrain from buying another car until the repair costs outweigh the cost of a replacement car
IMO, I would go with the new motor. Granted it costs just as much as your car is worth, its still less money than buying another car, and you can use that $2000-$3000 savings to keep up your current car
My situation however was a little different. I had my 2003 Nissan Altima motor replaced at 61k, with a motor that has 0 miles! It now has 40k miles two and a half years later and runs great still, but I had a warranty when my motor was replaced so Nissan paid that, not me. My cat had failed which caused the motor to die at such a young age
Even if your car was worth $1000, it would still be less money to spend $1800 for a motor than to spend $5000 on another car. I think we as Americans throw away cars too easily. But then again, this is just personal opinion. I for one REALLY love my car even though its just average at best and will keep it until the day it dies and repairs outweigh the cost of another car
Thats what I think it should be. People should refrain from buying another car until the repair costs outweigh the cost of a replacement car
He is not putting in a 0 mile motor. He is putting a engine that has 95k and someone somewhere thought that the motor wasn't worth fixing whatever else was wrong with the car to put it in the junkyard in the first place. And being its only 95k, it probably has been sitting in a pile of dirt in the corner of a lot for a few years.
I'd try to sell the car, for $1k on craigslist, no sale, then scrap it for like $400-500.
Take that, and the $2k you would spend, and look for a $2500, or better car.
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. I had figured this would happen, but now I'm not sure what to do-Go ahead and repair it, or get a new pre-owned car. I'd like to keep it at $4000 or less for my next purchase, but was wondering if I should just replace the engine and spend $1800-2000 or spend the 4k or so on a new one. My current car is in fair shape-all the years of WI winters and now Tulsa's roads have taken it's toll. It may need new brake pads within a yr or so, otherwise up until now, it ran very well.
