01' Honda Accord transmission went, owe $6200 on it. Transmission cost is...

E

Eric

New member
...$2500, what should we do? We already contact "American Honda Corp", and despite the fact that we proved to them through receipts that the transmission was cared for and we used the honda approved fluid, they refused to pay for a new transmission with a "good will repair" because the warranty just ran out 2 months ago. We just don't know what to do,
we currently still owe $6200 on this car, and it will be 12 years old before its even paid off.
We can get about $3600 towards trade in with how it is right now.
We have about $3000 cash, either to pay down on the car or put toward a new one. I just don't think its wise, to put $2500 into this car that's almost 100k miles, and almost 9 years old.
Any suggestions, or ideas? Thanks!
 
$2500 for a transmission sounds like a rebuild job. Have you checked the junk yard for a used transmission? It should cost a LOT less than the rebuild. Of course, you won't have a warranty with it, but that's the chance you take. If the rest of the car is in good shape, you may want to consider this, or at least investigate it. Hondas have decent reputations, and if a used trans. costs $500 to buy and install, odds are that you won't go through 5 of them before you pay the car off. Go to an independent transmission shop in your area, and ask if they have had good luck with used transmissions in this car. If you don't have one you know and trust, check the website below for recommendations of mechanics and shops in your area. Or ask a reputable parts store for a recommendation on a shop to use. They often know who does good work.

This is why I say if you can't afford to pay a new car off in 3 years, you can't afford it. And if you can't afford to pay a used car off in 1 or 2 years, you can't afford it.
 
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