My Car Needs a New Transmission – Should I Have Mine Rebuilt?

Reader Question Hi,

My car starts but does not goes into gears I mean I can not drive it I have consulted a mechanic(AAA certified) and he tells me that my car’s transmission has broke and it would cost $ 2000/- for a new transmission with a two year guarantee for it. Please help me regarding this because I am confused. Also do advice me whether to buy it in cash or go for financing and if so where?

Thanks,
Priyank

Hey there Priyank

I’m assuming this in an automatic transmission. If so, AWAYS check the transmission fluid level first. If the transmission is low on fluid it will slip and not pull the vehicle.

If the fluid is full, and the shift linkage from the shift lever is hooked up correctly to the transmission and the transmission is slipping I would suspect you do have an internal transmission problem and an overhaul is probably what it is going to take to fix it. You can install a junk yard transmission, but you take a lot of risk as to the condition of the transmission and the lifespan.

You did not say how old or what kind of vehicle this is, but overhauling an automatic transmission can be a major repair, and in some cases not worth the expense. If this is an older vehicle with lots of miles on it, you might want to spend the $2000 as a down payment on a new vehicle and sell this vehicle for what ever you can get. The 2006 Kia Rio is one of my favorite low priced vehicles.

Super fuel economy, very sporty, lots of room, cheap, usually financed at 4.9% or LESS, and usually can be bought with no money down depending on your credit.

So, you can buy with no money down, and use the $2000 to make payments. Payments are about $185 a month, so you can almost get 1 year of payments from what you would spend on the transmission. During that year, how many more repairs and how much more money would you have to put into your current vehicle????

What I see happening over and over again, is people spend the money to overhaul a transmission on a 12 year old vehicle with 110,000 miles on it….then 3 months later the water pump goes out, then another 3 months later the alternator goes out, then 1 month later something else goes out…..

The question you need to ask yourself is…..how much longer can I afford to drive this car, and will I get the $2000 back if I sold this car 6 months from now? Sometimes its best to cut your losses and get a new car with a full coverage warranty for 60,000 miles which will let you concentrate on other things in your life besides unexpected car expenses.

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Blessings,

Austin Davis