Transmission Repair Needed? A Guide to Fix It or Trade-in
So your car isn't working properly and the mechanic tells you the transmission is busted. What do you do next? The transmission in a car can be a costly thing to fix, so it's important that you understand what exactly is going on and how much the repair will cost. It may be that the cost isn't worth it and you would be better off trading the car in. Before you rush to get your car fixed at a transmission repair shop, consider these tips for when it's best to fix the car and when it might be time to trade it in.
To start, you should understand what the transmission in a car is. The transmission is a key component of what makes a car run. The transmission attaches the wheels to the engine and makes sure they turn together. It's similar to the chain on a bike that keeps the pedals and wheels turning together no matter what gear it is in. The transmission transfers the power created by the engine to the wheels to make them turn and propel the car forward. The transmission also helps keep the car running optimally by maintaining an appropriate gear ratio.
The most important thing to consider when deciding to fix or trade a car in is the cost. Ask around to different mechanics to compare prices to fix the transmission. Typically, a transmission repair is a hefty undertaking, coming in at at least $3,000. You should also look up the value of the car as it currently is and how much it would be if you fixed it up. Find out how much you would get from a dealer for a trade-in. If the car is only worth $3,000, then you should probably consider trading it in. If you could get a reasonable price to trade it in after repairs, then you may even consider fixing it and then trading it in. Also, if you are desperate for a reliable car or can't make payments on a new or used car, then it may be worth it to fix the car even though it is expensive.