One of the most dreaded statements that can ever come out of the mouth of your automotive repair technician is, "Your transmission needs to be replaced." Hearing this sentence evokes fear in many hearts because the average cost to replace a transmission is $1800 dollars, a hefty sum of money that you probably cannot afford to spend unwisely.
As you ponder your options, you may find that it will be more financially feasible for you to simply purchase another vehicle. Use this information to help you determine if you should replace your current transmission or buy another car:
Your Mileage Is The Key
An important way for you to tell whether or not you should replace your transmission or get a new automobile is to take careful notice of your mileage. Because the average lifespan of most vehicles is approximately 150,000 miles, it just wouldn't make a great deal of sense to spend the money to replace the transmission if your car is already at 140,000 miles. You may end up wasting your money because just as soon as your transmission is replaced, another issue may crop up.
You can avoid making a bad monetary decision by simply comparing the number of miles that your car currently has with how many more it is likely to get. For example, if your car has 100,000 miles and you are being charged $1800 dollars for a replacement transmission, replacement may be a safe bet because it will likely be quite difficult to find another vehicle for $1800 dollars that has mileage that is low enough for it to be a sound investment.
What's The Value Of The Car?
Just as it wouldn't be wise to spend a large sum of money replacing the transmission of a car that is on its last legs, it is also important that you avoid spending more money replacing the transmission of a car that doesn't have adequate value.
To avoid making a bad automobile investment, find out the value of your car. You can use a website such as Kbb.com to help you with this. If the value amount that is generated is less than the price you will pay to replace your transmission, it is safe to assume that you should purchase a new car.
Your vehicle cannot run without a functioning transmission, so when yours malfunctions you have some important considerations to make. The next time you are facing a transmission dilemma, use these tips to help guide you into making the right decision. To learn more, contact a company like Toronto Automatic Transmission with any questions or concerns you have.