You won’t be able to spend an hour of labor on a transmission replacement like you would for a brake pad replacement. There are a lot of mechanical parts working together to keep the transmission running.īecause of this, it takes special skill to repair or replace a transmission. The transmission isn’t as simple as some others on the vehicle. Why is Transmission Replacement So Expensive? 1.
Even a used car can offer you some newer technology if you drive something that’s ancient. Whether you are looking for a backup camera, lane change assist technology or heated seats, these can all be found. You can enjoy the latest safety equipment, tech features and entertainment options.
With flexible auto loans and leasing deals, it’s not difficult to find something for any budget. Whether the car is embarrassing or it is falling apart around every corner, you deserve something better.Įxamine your budget to see if you can move on. If you’ve grown tired of the old car, there’s no reason to stay stuck. Instead of paying for more repairs, you can put the money towards something newer. If you aren’t ready to pay for additional repairs, you might want to cut your losses now. The broken transmission could be one of many problems you start dealing with. Older cars are known for being unpredictable. Get what you can from the vehicle and move on. Instead, it’s time to get rid of the money pit and treat yourself to something better. If the retail value is lower than the cost to replace the transmission, there’s no reason to put more money into it. The most logical way to figure out whether to buy a new car is to look at the value. RELATED: Repair or Replace Your Old Car? (8 Things To Consider) Reasons to Buy a New Car 1. To keep it running, go ahead and replace the transmission. It could be that this was your first car, it was given to you by someone you love or it was a dream come true.Įither way, if you buy a new one, you would have to part with this friend you’ve grown accustomed to. If there’s an emotional attachment to the car, the resale value won’t mean much to you. Maybe you will be ready in a year or two. You can replace the transmission and buy yourself some more time.Īfter the transmission is replaced, go ahead and start saving for a down payment on the new vehicle. Maybe you just aren’t ready for a new car and payments. However, the new car can depreciate more than 22 percent in the first year. If you keep the vehicle for another year or two, you aren’t going to lose a lot more money off of the value. Depreciation Already Occurredīecause you aren’t driving a brand-new car, there’s less depreciation occurring. RELATED: 8 Symptoms of a Bad Automatic Transmission (& Replacement Cost) 2. While you could sell the car, you aren’t going to get nearly the retail value out of it with a failed transmission. However, if you have a vehicle worth $15,000, there’s no reason to avoid the transmission replacement. Transmission replacement is expensive, so an older car probably won’t be worth it. You should almost always replace the transmission if the cost is less than the value of the car. But the thing is that we've already been damaging it for a long time.How long should a transmission last? Reasons to Replace the Transmission 1. We needed the car this week, and I thought that since he'd be fixing it any way, it would be fine to drive on the bad transmission, but he said it would be damaging it further. Apparently he is only replacing the belt and the start clutch, and not actually replacing the parts that have been being damaged by the problems. What has me worried is that we've been driving on this bad transmission for a while. He also gives a 2 year warranty if we fix, but only 6 month if we replace. He strongly suggested we fix instead of replace, since the replacement part could go bad again. He quoted us $3200 to fix it and $2700 to replace the transmission with a used part. We took it to a different mechanic who suggested that instead of replacing the whole transmission, it would be better to fix it. Honda gave us an estimate of $4500 to replace the transmission. Our 2003 Honda Civic Hybrid transmission died.
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