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Blown Engine

dsb10dsb10 Posts: 2
edited March 23 in Jeep
My engine threw a rod yesterday am...97 Jeep Grd Cherokee...I have not rec'd an estimated cost for repair yet...any ideas???
Also, I owe $9000, it's was worth approx 5-6K. Will dealerships trade in this situation? Would I be better going back to Jeep?
I need some help....I estimate about $2K to rebuild engine.
What would a savy car owner do in this situation?
Thanks.

Comments

  • tmt1961tmt1961 Posts: 14
    did you own it since new?
  • dsb10dsb10 Posts: 2
    no..I bought it at 36K miles - it was a turned in lease.
  • swschradswschrad Posts: 2,171
    your car is a parts car at the present time... value several hundred dollars to maybe a thou if you have a pristine interior and no rust anywhere on the removeable sheet metal.

    the engine has to be torn down to determine what parts are reuseable and what machining needs to be done. all the way down. however, if something like a broken crank or cylinder grooves beyond the size of OS pistons are found, the teardown can stop at that point for good. at that point, a short block is the best option, reusing your heads (or new ones) and outside bolt-on parts. you can probably reuse all that bolt-on stuff around the new block you have on your present engine.... might have a sensor or two, plugs, etc. that should be replaced on general principle or when the new engine runs funny and lights up computer codes. but that's comparative chump change.

    you're underwater for $9000 at this point on a pile of parts, so doing one of the two engine options is about your only chance to avoid making payments for the rust in your driveway... and the car you will have to buy to get around since the jeep is a paperweight.

    always a valid option is a new crate engine, that's in the $4000-5000 range on many domestic mills.

    but you are in for a bit of cost here. your friendly local jeep dealer would be glad to do the work for you at regular rates, but expect no participation in the payments from either the dealer or chrysler. you're second owner of a truck out of warranty, and nobody is going to put money in your tin cup no matter how loud you sing (or whine.) given a six year old truck (seven in model year terms,) pick a mechanic with a good rep and have them estimate it for you. the field is wide open since you don't have to stay on the dealer's A list.
  • Ouch, tough luck on that.

    I also agree you are in a bad spot here.

    A rebuild will certainly cost you more that $2K.

    I'd say your only way out is a good used engine. Trade in value will be practically nothing at this point, and installing a crate engine will probably equal the value of the car.

    So I'd say install a good warrantied used engine from a reputable wrecker, and drive the car until you pay off the loan or at least owe only as much as the car is worth.

    Right now, you are down about $8,000 if you bail out or trade, so you don't want to do that. It may SEEM like you won't be in that deep if you trade at the dealer, but dealers can "bury" your actual financial damage when they blend one loan into another, and it might look like you aren't doing too badly---but in fact many times they will charge high retail for the "new" car and by doing that give you a generous "trade in allowance", because in fact they are making out really fat on the car they sold you.

    Also many buyers in your situation tend to look only at the monthly payment amount rather than how much you are actually paying for the "new" car and how much you are actually getting for your old one.

    So be extremely careful in your decision making process here. As unpleasant as it sounds, the facts are the facts, and the facts seem to indicate you are really behind the 8-ball here with very limited options.

    If I were in your shoes I would tend to think that installing a used engine is the only way out of this without a rather rude financial beating taking place.
  • isellhondasisellhondas Issaquah WashingtonPosts: 17,347
    Not a good situation...I agree with our host here. A used engine, to be sure. Most good wreckers attach tags with the mileage when removed, compression readings etc.

    That Jeep, as someone else said has practically no value as is.

    Hopefully the rest of the car is up to snuff.

    I would fix it with the used engine and just plan to keep it a good long time.

    I haven't heard of a thrown rod in a long time.
  • isellhondasisellhondas Issaquah WashingtonPosts: 17,347
    A dealer can only unbury a person so much. We can't tack on 7000.00 in negative equity to a new loan. Maybe a couple of thousand maybe.

    The banks won't buy this.
  • Banks are wise to that tactic.
  • swschradswschrad Posts: 2,171
    there has to be an engine before there is a value.
This discussion has been closed.