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!
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!