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The vehicle was originally owned by FIL, who kept up on all repairs and maintenance. We've had it since 2004 from him, and we haven't had anything go wrong with it, and he looks at the fluids.
The car has 150K. He thinks the transmission MIGHT be going. Just in case he is correct, is it worth it, for the age and mileage of the car, to get a new transmission?
Thanks!
It's worth fixing, but only with used parts. There's nothing wrong with sticking a boneyard tranny in there.
Originally Posted by frankgn87 no way. A new trans for that car is a $2000 bill. Way more then the whole car is worth... Why would you pay for a repair that is more then the value of the car? Makes NO sense. You get in an accident and the insurance co will not repair it if the value exceeds the value, why should you?
I have a '98 6 cyl Camry that runs like a top, and has NEVER been repaired during my ownership. I bought it for $13,800 in 2001 with 22k miles on it. But to the point of insurance.. WHO IN THEIR RIGHT MIND WOULD KEEP COLLISION INSURANCE ON SUCH AN OLD VEHICLE? I sure don't.
We are facing the same thing with our 1998 Ford Taurus, which has been a gem, but we are starting to have problems. Luckily not the transmission but the transmission pan is leaking, there is an oil leak, it needs some basic maintenance done like brakes and has 120,000. We are thinking of letting our mechanic have it for almost nothing and looking for a newer car...
These are all relatively easy fixes. If the car is in good shape otherwise, a leaking transmission pan probably just needs a new gasket to quit leaking, that would be part of a normal drain and refill fluid change. Depending on how bad the engine oil leak is, you might just grin and bear it. Brakes need to be renewed if you drive the car, like tires, a wear item.
If the car is in good shape otherwise, you would be nuts to give it away based on these minor needs.
Originally Posted by frankgn87 no way. A new trans for that car is a $2000 bill. Way more then the whole car is worth... Why would you pay for a repair that is more then the value of the car? Makes NO sense. You get in an accident and the insurance co will not repair it if the value exceeds the value, why should you?
I have a '98 6 cyl Camry that runs like a top, and has NEVER been repaired during my ownership. I bought it for $13,800 in 2001 with 22k miles on it. But to the point of insurance.. WHO IN THEIR RIGHT MIND WOULD KEEP COLLISION INSURANCE ON SUCH AN OLD VEHICLE? I sure don't.
I carry not only full, but almost double coverage on my '02 Ram. Bottom line is, could I afford to replace a truck that's worth $6-8000k if I wrecked it? Probably, but I wouldn't get the same or newer in return.
If she can afford, say, $6-8K for a newer used car, and is tired of the Camry, then no. Also maybe not if some future repairs would be a major inconvenience. Also, no if she likes driving a new-looking car.
If she has very little cash, or can afford some future repairs in the years ahead as parts wear out, and likes the car, then yes. She can't get that quality for $2000 and most Camry's would have enough life in them to make things cost out.
However, she should have the car horoughly looked over with an eye toward future repairs. How is the engine, A/C, brakes, suspension, tires, timing belt and so on? Don't assume the 150,000 Camry will be repair-free like it was when it only had 100,000 on it. Parts are going to wear out. Also, insurance will obviously not pay much in the event of an accident.
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