Worst luck with used cars - advice please

[airforce1]

Well, it turns out our ‘08 LX570 which we had hoped would be our forever car will be requiring a new transmission per Lexus dealer. New replacement transmission is quoted at $11K.

We bought the vehicle for $26.5K. We are the 3rd owner. Vehicle has only 92K miles. I have $9.3K left to payoff the car note.

We have 3 options:

1. Sell the vehicle at a major loss and disclose the transmission issues for buyer to fix
2. Go to an independent mechanic and rebuild the transmission for ~ $3.5K and sell vehicle at a lesser loss value.
3. Fix transmission and continue to keep vehicle.

Car experts and mechanics, how would you proceed?

Thanks!

 

[freedomatlast]

None of the above.

Find a low mileage used transmission on car-part.com with a 6 month warranty and have an independent mechanic install it.

Transmissions for that vehicle are available with about 40,000 miles for about $1800 and an independent mechanic should be able to install it for around $1200.

Then consider selling the vehicle soon since they are known for having transmission issues.

 

[ponyboy]

More reason why I never buy a used vehicle. Sure, I drive bare bone corolla's. Yep, they're not a luxury vehicle or as comfortable as a lot of other cars, but they rarely break.

 

[OldShooter]

More reason why I never buy a used vehicle. Sure, I drive bare bone corolla's. Yep, they're not a luxury vehicle or as comfortable as a lot of other cars, but they rarely break.

But ... that Corolla you're driving is a used vehicle.

 

[RunningBum]

But ... that Corolla you're driving is a used vehicle.

Yeah, but he knows the whole history of that car.

 

[airforce1]

None of the above.

Find a low mileage used transmission on car-part.com with a 6 month warranty and have an independent mechanic install it.

Transmissions for that vehicle are available with about 40,000 miles for about $1800 and an independent mechanic should be able to install it for around $1200.

Then consider selling the vehicle soon since they are known for having transmission issues.

Thanks will do some searching

 

[OldShooter]

Yeah, but he knows the whole history of that car.

Yes, but he doesn't know its future. The post implies that purchased used cars are somehow riskier than a used car already owned. I don't think (from a lifetime of experience) that is the general case.

 

[CRLLS]

Some salvage yards will not only sell you a used transmission but may also do transmission swaps in house. About 6 years ago I had gotten a quote to provide and install a used engine for ~$800. You might want to check out a yard near you.

I would also recommend checking a local transmission shop for an estimate. They would know transmissions better than independent mechanics and possibly even the parts-swapping dealers. Perhaps they can simply repair what's wrong with yours economically. Worth a shot.

 

[Car-Guy]

Depends... If I was going to keep the vehicle, I'd probably go with a new/rebuilt one with a multi year warranty from a reputable transmission shop.... If I just wanted to fix it to sell, I'd go with a small mechanic shop for a quick fix or even a used trans install.. Should be able to get a 30 day warranty even with that... Personally I'd do it myself but that's not a answer for most folks... In all cases, I'd stay away from the stealerships.

 

[ponyboy]

Yeah, but he knows the whole history of that car.

Exactly. I know how it was treated. I know that the oil was changed religiously when it was supposed to since I do it myself. I know that when there was some sort of issue, it was fixed immediately (all minor, parts are cheap.) Im currently driving a 2008 corolla with 207k miles, yeah, not a lot of miles for a corolla, but it still runs like the day I bought it. Appearance wise, it definitely doesnt look like that. Still get 35mpg, I check every year or so, still hasnt dripped a drop of oil. Its impressive. I dont care what anyone says. The car is insanely reliable.

 

[pjigar]

Exactly. I know how it was treated. I know that the oil was changed religiously when it was supposed to since I do it myself. I know that when there was some sort of issue, it was fixed immediately (all minor, parts are cheap.) Im currently driving a 2008 corolla with 207k miles, yeah, not a lot of miles for a corolla, but it still runs like the day I bought it. Appearance wise, it definitely doesnt look like that. Still get 35mpg, I check every year or so, still hasnt dripped a drop of oil. Its impressive. I dont care what anyone says. The car is insanely reliable.

I think the history and maintenance argument is overrated. Especially late model cars can be ignored for years before they will be mechanically compromised. I always buy used cars and rarely have issues that are related to abuse and/or lack of maintenance. They are always model-specific.

OP: If it is a model specific issue then choose #2. I would vote wholeheartedly to RX350. I owned an RX330. It was awesome and reliable.

 

[latexman]

Well, it turns out our ‘08 LX570 which we had hoped would be our forever car will be requiring a new transmission per Lexus dealer. New replacement transmission is quoted at $11K.

I get at least one phone call a day wanting me to buy an extended warranty. Don't you? Please, please, please, buy an extended warranty next time you get one, and STICK IT TO THEM!!!

 

[skipro33]

Yes, but he doesn't know its future. The post implies that purchased used cars are somehow riskier than a used car already owned. I don't think (from a lifetime of experience) that is the general case.

Purchasing a used car is much riskier than owning a used car from new. Of course you don't know the future, but you can know the past. For some reason, someone DUMPED that used car, and right quick if it's at a dealer and not private party. Bird in the hand vs bush applies. I'd stick to buying new and running 'em long than I would buying used more frequently. Just the shear volume of cars buying used vs new and owning long term suggests there's less risk of getting screwed.

 

[Aerides]

You've had issues with the Lexus for a while:

https://www.early-retirement.org/forums/f28/2-bad-cars-repair-or-sell-100110.html

Sell it, take the loss, reduce the headache. I'd just take it to a Carmax and get a quote. There is no "disclose" you give them the car and they inspect and give you a price.

Then go buy something quite a bit newer. A 12 year old car would be lacking in security and safety features and expensive to maintain. There is no real forever with cars. If you want one that's gonna last 10 years+ you don't want to start with an old one.

 

[RunningBum]

Yes, but he doesn't know its future. The post implies that purchased used cars are somehow riskier than a used car already owned. I don't think (from a lifetime of experience) that is the general case.

I'll point out the obvious that we all have a lifetime of experience, and I disagree with you. I've rarely gotten rid of a car unless I felt it had reliability issues. Maybe nothing happened to those cars after I got rid of them, but I know I felt better. And I can't think of a problem with a car that I've kept longer than I might normally keep one, except a hard to find A/C link with a Honda Pilot.

 

[Mykle57]

Why did dealer suggest transmission replacement?
Is it slipping or did you get a check engine light?

Imho, I'd never bring a 12 year old car to a dealership unless its for warranty work. They charge to much and repair things that aren't broken.

 

[ExFlyBoy5]

Don't take your 12 year old car to a dealership for work. Ask your friends/neighbors for a recommendation for a local shop. It will save you a ton of money.

I have much else to say, but I will keep that to myself.

 

[finnski1]

Don't take your 12 year old car to a dealership for work. Ask your friends/neighbors for a recommendation for a local shop. It will save you a ton of money.

I have much else to say, but I will keep that to myself.

Yes. I have a local trusted mechanic that I have been using for close to 30 years. We have bought many new cars over the past 36 years of marriage. I only go to the dealer when new and/or under warranty. Never after that.

 

[Happyras]

None of the above.

Find a low mileage used transmission on car-part.com with a 6 month warranty and have an independent mechanic install it.

Transmissions for that vehicle are available with about 40,000 miles for about $1800 and an independent mechanic should be able to install it for around $1200.

Then consider selling the vehicle soon since they are known for having transmission issues.

+1, this is truly your best option. My friend and I decided to buy some totaled cars from the insurance auction and found a huge world of great used parts. For the A3 etron we bought, I got a used front right axle, lower control arm and a used like new headlight. We had about 15k into it with auction/delievery and parts and it is worth 25K in utility. Just saying there is no reason to buy new when the market is so good for used parts off of totaled vehicles with low miles.

 

[Jerry1]

I agree with the suggestions to look into other options. Whether it’s best to fix the transmission or replace it with a used or rebuilt transmission depends primarily on pricing but also, as you point out, how long you intend to keep the car. If you’re happy with the car, I’d look for someone to repair the existing transmission unless price is prohibitive. Then I’d look for a rebuilt with a warranty. Getting a used transmission only makes sense, to me, if you’re just going to fix it in order to sell it. Just my opinion. Good luck.

 

[brett]

The last transmission issue I had was on a new Ford Escape with 10K miles on it. New transmission and some sort of computer part required. etc. Fortunately it was a company lease vehicle. Passed on that buyout offer six months later

I did have one start to go on my spouses five year old Taurus with 80K on the clock.. As soon as the transmission person told me that it was electronic and could fail completely at any time I decided to park it.

Went shopping for a new Camry. The only time it was driven after that was to the Toyota dealer for a trade in value. No transmission problems on the way. They no doubt auctioned it off.

It took me less time (one week) to source the new car, trade the old one, than it did to wait for the transmission replacement on the Escape (three weeks).

We are casually looking at SUV's. CRVs, Rav4's, and a Mazda. Read about problems with gas getting into the oil on the CRV and that it had been resolved. Just heard from 2 different mechanics that we know who work at Honda dealerships. The recommendation to us...go with an Acura or select another brand. Apparently this infrequent problem than in their opinions, has NOT be resolved contrary to what Honda claim. Makes our shopping a little easier. Too bad, we are really happy with our 2006 Accord.

 

[Bamaman]

I don't know if many people realize how high quality and long lasting a LX570 Lexus is. The workmanship is impeccable and on par with the finest automobiles made in the world. I've seen LX's with 450,000 miles sitting on my Lexus dealer's showroom floor with customers thinking they're looking at a new vehicle.

I went to Car-Part.com and there are very few LX's in salvage yards due to their long life span. About all I see in our region are rebuilt transmissions at $3500 to $4300. They come with a 3 year, 100,000 mile warranty. That's the way I'd go, and have an independent mechanic do the swap. To a professional, swapping a transmission is not that difficult or time consuming of a job.

 

[homestead]

The last transmission issue I had was on a new Ford Escape with 10K miles on it.

What year was the Escape?

 

[chassis]

Agree with installing a used transmission, then sell the vehicle and payoff the remaining loan balance, if any.

Buy the newest/lowest mileage used vehicle you can find in your budget that meets your transportation requirements. Pay cash.

I believe in paying cash for used vehicles with factory warranty remaining. This has worked out well with our two current vehicles.

@airforce1, You bought a large, old luxury vehicle and borrowed money to do it. That doesn't sound wise to me. Sorry to be the bearer of that news.

 

[RetiredAt55.5]

I don't know if many people realize how high quality and long lasting a LX570 Lexus is. The workmanship is impeccable and on par with the finest automobiles made in the world. I've seen LX's with 450,000 miles sitting on my Lexus dealer's showroom floor with customers thinking they're looking at a new vehicle.

And yet the OP's transmission failed at about 90,000 miles.