What should I do? Fix my car or trade it in?

  • Thread starter Thread starter MotionCity
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MotionCity

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Should I get my car fixed (It needs a new transmission) and I am buying it on time. Or should I trade it in for something that doesn't need a new transmission? The engine has already been replaced with a used engine, it runs and
I owe about half of the balance still.
It is not in my name yet, as I am buying it and making payments.
I don't have a warranty.
The $ for the new transmission could go towards a down payment ?
 
I had this delima before. I put a new engine in my car but I had the money to fix it.

If you pay to have the transmission fixed then you shouldn't have any more major problems. If you buy another car you might have to replace the transmission or engine in it.
 
I would trade it. By the time you get the transmission paid for, you will end up with more engine repairs. maintenance for a car in that shape is going to be like a swimming pool full of basketballs (fix one thing, two more will pop up...).

When you trade, you will probably have to absorb the value of the transmission, but careful shopping and current dealer incentives may help offset that loss.

So, definitely better to trade it and NOT fix it.
 
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