To Fix Up or Trade Up, That is the Question

Mr_Shiftright

Gee, not much. Maybe $500 bucks? $300? Something like that.

isellhondas

I agree with the host. It's probably not worth fixing.

saxomafone

I have a '98 Camry with 76000 miles. I just brought it in to have the transmission fluid flushed and new filter. I thought that might solve the problem I have been experiencing earlier this week: the automatic transmission seems to slip between gears, and when it finally does shift to the next gear, I feel a jolt after the switch as I'm driving. The mechanics who flushed the tranny yesterday said the fluid was REALLY dirty.

I had two minor accidents with the car a couple of years ago, and I was planning on driving this one a couple more years to save money and afford some other things. I have had no other major problems with the car, but I would guess I can expect more trouble now as it gets older. I doubt there was any structural damage to the car from the accidents. Both accidents were front end collisions with a car in front of me (both my fault ), but the last one required that the radiator be replaced, along with the hood and one quarter panel.

My questions are: do I have some serious transmission troubles? Is the car worth repairing or is it time to trade up? Do I fix the transmission to get more at trade in, I still owe over $5000 to the bank?

:confuse:

Mr_Shiftright

Well if you owe $5K to the bank you are about even up on the loan---that is, you owe about (roughly) what the car is worth.

If the transmission is really ready for overhaul (hard to know by your description---it needs to be diagnosed by a pro shop), then trading it in or selling it with a bad trans makes it near worthless---probably $1,500 bucks. So that's a loss of $3,500 that you will have to pay off.

If you fix the trans for say $2,000, you are in $7K and maybe could sell the car for $5,500---depending on model and condition, so then you are down only $1,500 and the car's totally paid off.

I'd say....IF...the car is otherwise in good condition and IF you can get a decent quote on the overhaul, to fix the car up regardless if you sell or keep it. But if the car has some dents and if the trans is going to cost closer to $3K, it becomes a very close call here....maybe the car can stagger along with the tempermental transmission as is until you can pay down the loan and then ditch the car for cheap.

yusuf1

yusuf1

hello, all. Got a 1999 Honda Accord with 140,000 miles..Owe about 4200.00 on it..Car does run fine but needs timing belt replacement. Car payment's over $330. Questioning whether I should trade in for something newer for a lower monthly payment, hopefully. Wondering if it's best just to pay off next year hoping that the timing belt won't go as funds are tight to get it replaced or trade in and have another 5 years to pay for that. I know this may be a no-brainer for some of you but I need some reassuring..Thanks and have pity on me..

Mr_Shiftright

I am very much opposed to folding one loan into another. Owing over $4,000 and with 140K on the car, I don't see how you are going to get into a new car with "lower payments", since even if you buy a $12,000 minimalist car, you still owe $12K + $4.2K + interest and that's going to be very close to what you are paying now.

You have no equity in this car is what I'm saying. Its trade in value is very close to your remaining loan.

If I were you, I'd either sell the car privately and pay off the loan, and if there is anything remaining (if you're lucky maybe another $1,000--$2,000 if it's a sharp car and V-6), then use that as a down on another new car OR

Just replace the belt. That's about what....$450?....so it's just another 1.3 months of car payment, no big deal.

That Accord, at the rate you drive (23,000 miles a year) has about two good years left. You have 13 car payments left, or say 15 payments with the timing belt job.

So, given all this info, I'd be inclined to tell you to keep the car and fix it, either to use it up totally (drive it into the ground until it's junk) or to trade it in once your payments are done, in 15 months from now.

Trading it in makes no sense as you don't own most of it. You own maybe the trunk.

hpmctorque

The financially prudent thing to do is to replace the timing belt, pay your car off, then begin saving the equivalent of your monthly payments for a new car, for as long as your car is safe to drive. This way you can make a larger down payment on your next car, pay it off sooner, and begin getting ahead of the game. .

tazuko

My opinion is fix it if you can. I am restoring a 1981 Dodge Aries K car
and I'm looking for 4 exterior door handles. Any ideas where they can be found
Tazuko
Email----btgrant@northwestel.net

dhall7745

I have a 1997 olds cutlass, I disconnected the battery and replaced it. I went to start the engine and noticed the fuel guage was at the 6 o'clock postion.and when engine was started it peg out at the bottom of the empty peg....Please help

crankshaft

you would be amazed the amount of misc.small parts can be found on e-bay.

ohiopackerfan

I have a 1997 Plymouth Grand Voyager with 150,000 miles on it. Yesterday it developed major problems as the cooling fluid found its way into the transmission fluid. :sick: Got it limped to the dealership. Today they tell me it needs a new radiator and major transmission work or a reworked transmission. The price is $1900 to $3400 depending on my choice. The body and interior are in very good shape. Is it worth my while to have it repaired or do I cut my losses and buy a new vehicle? If running, it is worth about $3,000. If I do not repair, what is the best way to dispose of it? Thanks - any advice is appreciated.

Mr_Shiftright

Well you're not going to buy a clean, good running van for $3,000 very easily. I'd say go for it. You might be able to take a lower miles transmission out of wreck (fi they will warranty it) and save a lot of money. No sense putting a brand new trans in a vehicle that's probably not going to go another 150K. The radiator I'd buy new though.

jproc

Two years ago we had a similiar dilemma.Our 93 Chrysler with about 140k miles sprouted a leak in the radiator.Got it to the local mechanic we use and it needed a radiator,head gaskets were going and tranny was shot as well.

We told him that we didn't want to put the money into it and he offered us $ 500.He then fixed it up and sold it.

I'd talk to my local mechanic and see if he is interested in it.Dealer probably won't be.

Mr_Shiftright

Well that's a very different situation....you have a passenger car vs. a van, and bad head gaskets AND a bad tranny....that one was a slam-dunk decision but the van is supposedly otherwise in fine shape. Also I am quite surprised your mechanic could make a nickel on that car if he did in fact fix all those things.

hpmctorque

"...I am quite surprised your mechanic could make a nickel on that car if he did in fact fix all those things." Hmmm, sounds to me as though maybe the mechanic exaggerated the problems so he could buy the '93 Chrysler for below market value. Not that we'll ever know, and I certainly wouldn't want to impugn the reputation of an honest mechanic, but it's a possibility.

jsylvester

Depends on the Chrysler. If it was the old LH Concorde, the first model year were not well screwed together, and cosmetically aged fairly rapidly, with a bad reputation for transmission and A/C issues as well, so probably a tough vehicle to sell for much money in 2003.

jproc

It was a lebaron convert.

wtd44

I would think the key word here is "convert." Convertibles are very popular, and I suspect pretty easy to sell.

I had a 1986 LeBaron sedan 4dr with the turbo. Now, there was a car worthy of trading away, which I did. My daughter used it from 80K to over the 100K mark, and that did it in. As it neared the 100K point, it became very unreliable, and the stress for me as the responsible father was overwhelming! It was traded for a brand new 1997 Geo Prizm, which was an excellent little car for a kid.

Mr_Shiftright

It still isn't worth fixing. You could barely get $1,500 for a '93 Lebaron convertible if it was all ready to go. The mechanic couldn't possibly have repaired all those items and made a profit. Maybe he patched up a couple of things and sent it down the road.

chuck1959

I bought my 1990 Lincoln Town new. It has 147,000 miles. It has been pretty much trouble free. I am a stickler to maintanece. I change the oil every 3,000 miles. I did all the "scheduled" maintanence by the book when I first bought it. I wanted to replace it with another TC, but at $40,000 + that is impossible. To think I paid 27 grand for it my TC new! I figured instead of getting a new car I will just use that 40 grand and keep fixing mine. Which of course I wouldn't even spend close to 40 grand. In 15 years it has only seen the mechanic 4 times! Expect for maintenance of course. Everyone I know rags on me for keeping it. I get "your putting into more than it's worth with every repair". I say maybe so but at least I don't have $400+ a month car payments. I only pay $500 a year for liability only insurance. I know I am taking a chance with an accident, because it is easily totalable. I will cross that bridge when I get to it I guess.

Mr_Shiftright

You could try this. Keep a fastidious monthly record of what you spend on repairs and maintenance. If after adding up a number of months and dividing them you find your monthly average approaching say 75% of a new car payment, then you really need to reconsider. But if you can operate even at 50% of a new car payment, that's reasonable. Also you need to factor in saving about $40 a month on insurance, that's true.

OR, you can use my other rule, which is a bit more severe---if the car breaks down and leaves me stranded 3 times in a year's time, it's gone.

mrdetailer1

I have a 1991 Mazda MX-6 (Coupe) that is a joy to drive. We purchased it 4 years ago for 1500. It was pink instead of it's natural bright read, but after a lot of work and help form this forum it looks so good that the WOMEN at my wife's work ask what I do to keep it looking so good. Interior excellent. I put in another 1500 in repairs when I bought and last year replaced the radiator, battery and front brakes. Wife ran into a curb a couple of years and most of the steering system has been replaced including the shocks on all 4 wheels. Until now we've been very happy with the car.

Has 135,000 miles on it. Engine and manual Transmission run great. Took it in, and verified with 2 different mechanics and it needs a lot of repairs.

1. New Tires and Alignment
2. Complete rear Brake service
3. Replace muffler and rear exhaust
4. CV Boot has a 3 inch crack in it, and grease has spilled out.

Estimates run from $750.00 to 900.00 dollars.

Resale KBB private party $1500.00, Trade in $600.00

Wife is still crazy about the car. I think it's a little long in the tooth. What should I do.

Mr_Shiftright

Yeah but you know what they say "If momma is happy, everybody is happy".

I'd probably fix it because you can't replace it with anything for $900 but a pile of junk.

However, my opinion presumes that nothing else is currently wrong with the car. All the items you mentioned are normal wear and tear that occur on any car.

dank

My current car is a 1998 Honda Accord LX 4-cylinder with almost 150,000 miles. Recently it developed an issue with the transmission where the car lunges or hesitates when shifting into first gear (be it from park, reverse, 2nd, whatever). I suspect it will cost ~ 1,500 - 2,000 to fix this problem, but I have not had a chance to let my local trusted mechanic take a look at it yet. The car is in otherwise good condition considering the mileage - there's a few paint scratches and door dings but nothing I would consider major.

The way I see it, I could easily spend up to $2,000 in maintenance on this car in the next month, as the car is due for its 150,000 mile service which runs $350 at my local Honda dealer. I'm wondering if I should pay for this and/or fixing the transmission or should I just trade it in as is?

Any feedback is appreciated...thanks!

hedden

I think the saying goes: "If mama ain't happy, ain't nobody happy". Which is much more accurate, in my opinion.

hedden

You may be a little high on the tranny repair cost. Get an estimate.

dank

I have a local mechanic that I trust, but they are so busy (i.e. good, I guess) they have not had a chance to check out my car yet. I'm hoping I can find somebody who'd fix it for < $1,500 but I'm not sure yet.

Mr_Shiftright

This is marginal, I could go either way on this car. Given that it's an okay car but not "sharp", with 150,000, which is a lot of miles....maybe the car is worth...what....$6,500? with a good transmission.

So if you trade it in, you might get $3,000 if you're lucky....and if you fix it, you may get another 50,000 miles out of it, presuming nothing else goes wrong.

I'm on the fence with it....it really depends if you are ready willing and able for new car payments again.

First think I'd do is a diagnosis; also, if you could find a low mileage used transmission for $750, that'd be okay.

mrdetailer1

Yeah, the wife still loves the car. She tries to drive anything else and has problems. Like trying to reach for the stick when the car she's driving is automatic. It really is a fun car and the engine and tranny are in great shape. I just set up appointments to get the stuff fixed.

mrdetailer1

Like I indicated earlier, I took the car in and got the long list of repairs done. Cost $750.00. Was a lot, but the car runs very smoothly and steering is back to Zoom, Zoom. Brakes work well too.

We got our fun car back so the investment appears to be worth it.

wtd44

Hey! It's hard to beat being happy with your vehicle. Good luck.

questionmyfocu

After learning I need new struts at 90k miles, to the tune of $750, I want to dump the car and get something new and trouble-free. Anyone have more miles on a Ford Focus sedan that can tell me I won't hate myself if I keep it?

All advice appreciated!

dtownfb

Tha is awfully expensive for struts. Who gave you that estimate?

questionmyfocu

Local repair shop; gets great reviews from lots of people in the neighborhood. No pressure to fix it from the service manager, which I appreciated. This was the cost of the struts and a 4 wheel alignment after they're replaced.

dtownfb

I'm assuming you need four struts and not just the front. That is about $175 per strut and $50 for an alignment. Again that is awfully expensive. Before you dump the car, you should post the question in the Focus forum to see if this cost is legit. I'm sure plenty of folks have had their struts replaced.

vanshopper

This is a great discussion. Thanks in advance for reading my post.

We're considering trading our Rodeo in for a minivan. It's very clean and has been very reliable for us, but we have recently been experiencing one mechanical problem. The gas gauge isn't working properly, so the check engine light is always on and the low gas light flashes almost all the time (no matter how much gas is in the tank). You would think this would be a simple repair, but no, it costs approximately $500. My question is whether to do this repair. Will it impact the trade-in value by more than $500?

Also, this car was involved in a chain reaction (front and back end) collision in 2002 about 6 months after purchased new. An EXCELLENT shop repaired it ($6000 in repairs). How will this affect trade in?

Thanks!

1racefan

My first question would be is your Rodeo paid for?

If so, I would go ahead and have the $500 repair done (whether you trade or not).

Look at it this way - -If the Rodeo is paid for, a new minivan is going to cost you at least $350/month. This $500 repair is only 1 and a half months worth of what the new minivan payment would be. And...assuming this is the only problem with the Rodeo, it only has 65K on it, so it should be good for at least another 50K miles - -and that is a long time for you to drive it and save $.

Now, if you do decide to trade the Rodeo, I would still get it fixed. If you try to trade it in with the dash lit up like a Christmas tree, that just gives the dealer more leverage in his negotiations to low ball you.

Regarding the accident - you will take a hit. That just depends on how well it was reapired, what the Carfax says, etc...

All in all, if the Rodeo is otherwise reliable, I would keep it.

Mr_Shiftright

Depending on the circumstances of the accident, the competency of repairs, and your documentation you could lose 10-30% value.

dtownfb

Agreee with everythign 1racefan says. The only question I have is are you sure the check engine light is related to the low fuel or the fuel guage? I woul dhave that checked out as well. I have an Intrigue that also has a "funky" fuel guage but i don' get a check engine light.

o_julius

Just found your forum. I have a 1990 GMC Jimmy that failed inspection for exhaust leak. Shop says they need to replace entire exhaust $1,000 parts and labor.

The vehicle is paid for, but is also old and rusted. A mechanical check 6 mos. ago said everything else was OK. I do not use it every day, but it's handy for hauling stuff that won't fit in the sedan for occasional second car.

I'm thinking this is too much to spend, and just rent a pickup or SUV on occasion instead. Any one out there have an opinion on this? If I ditched the car, where would I take it? Could I get even a little $ for it?

Mr_Shiftright

I would get a second opinion on this before doing anything. A good muffler shop can get very imaginative with patchwork and a handy welding tool.

krony

I'm curious when folks 'plan' to let a car go. I know that's sometimes a tough call given the history of the car and issues you're having with it. (Assuming not everyone gets rid of a car because it has problems.)

I'm usually planning a trade at 100K and if the car's been real reliable 150K.

Mr_Shiftright

Depends on the manufacturer I think when you should let it go, and also the year of the car.

So here's my two cents:

2006 Domestic car: -- think about bailing at 80,000

2006 German car: ---about 100,000

Domestic truck: depends on how it has behaved--if it's used for work, I'd try for 150,000

My General Rule: Keep track of all repairs + replacement items. When your monthly repair + replacement items become MORE THAN 1/2 a new car payment, it's time to start thinking things over.....so if you're pushing $200/250 a month to keep the old crate in repairs, tires, mufflers, shocks, light bulbs, clutches, brakes, water leaks, etc., it might be time to quit.

arun_ghosh

Hi,
I have a 2002 Honda Accord that is loosing its paint. I took the car to a couple of auto body shops and they think the car had body work done in the past and it is loosing its paint as a result of a bad paint job earlier. When I bought this car this I reviewed the car fax report but it did not have any such work mentioned in it. I was new to this country and didn't have much knowledge in buying a used cars.

The question I have is what is the best course of action? If I continue to use the car as it is would there be corrosive damage since its lost its paint at few places? The estimates run from $900 to 1500. Any suggestions would be greatly appreciated.

Btw, I bought this car for $12500, one and half years back. Is it reasonable to expect $1500 less from private party value given in KBB.

Thanks.
Arun.

Mr_Shiftright

I think I would invest $1,500 to make the car look good and to preserve the paint. That's a pretty fair price for paintwork.

CARFAX is a good starting point but WILL NOT necessarily show you all accidents the car might have suffered.

KBB private party might be high, yes.

arun_ghosh

I greatly appreciate the quick response.

What would be a reliable place to get the paint job done? I live in Schaumburg, IL. Would $1500 be for the the entire car? The estimates of $1000- $1300 I got were for just the place where the paint is lost.

Are there things that I should know before giving the car for a paint job? How can I make sure that the paint job is of good quality.

Thanks again for your time and advice.

Arun.

Mr_Shiftright

No you can't do a quality paint job on the entire car for $1,500. It would have to be an estimate for the parts of the car that were deteriorated.

The best way to judge a shop is ask them to look at some of their other work, preferably a job where they just painted one or two panels of a car. If you see orangepeel, drip marks, bad masking, dullness or anything else you don't like, well, then, you now know.

isellhondas

Just stay away from the "chains" that advertise on television. That 299.99 special will distroy the value of your car!

lemko

I have a 1989 Cadillac Brougham I purchased new and it currently has 157K on it. I wouldn't part with it either as it has been as good to me as your Town Car has been to you. I can't find a new car like it at any price.