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12-02-2017, 10:56 AM | #1 | |
AF Newbie
Join Date: Dec 2017
Location: Chicago, Illinois
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New transmission or buy a new/used car
I have a 2001 Volvo S60 2.4T with over 104,000 miles. The transmission is slipping and will need to be replaced in the future. If I get a new transmission, it will cost about $6,200 and have a lifetime warranty. I invested a remote starter, GPS/stereo, and rear camera into the car.
Should I get a new transmission or a new/used car? Nothing major ever broke in the car. I do not have much money right now. Any advice you give will be cherished. Thanks. |
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12-02-2017, 11:25 AM | #2 | |
Your worst nightmare
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Re: New transmission or buy a new/used car
You have to look at it in a few different scenarios. First off the car is only worth about $1500. Is it really a smart investment to dump $6200 into a car worth so little? You could take that $6200, along with whatever you may get out of the Volvo and buy a newer car, but you may get a car with a checkered past.
I took the second option myself. The transmission did go out on my 07 Grand Prix, and rather than waste time and money on a car worth so little I bought myself a newer car that gets better fuel mileage. I hate having a car payment again, but I have almost no worries about this car. My Pontiac had me nervous for years, because of the notoriousness of the transmissions randomly failing.
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12-02-2017, 11:29 AM | #3 | |
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Re: New transmission or buy a new/used car
I took very good care of the car. It has very low miles. I am leaning toward repairing the transmission. I forgot to mention that I got it a new strut.
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