I own a 2002 Honda Accord that I bought new. The transmission has failed and the car shifts abruptly after it warms up after 20 minutes. I took it to a transmission shop that read the CEL light which indicated a failed transmission. I called other shops and was quoted about $1900 to repair it.
The car has no other issues and has 163,000 miles. It has no rust and I recently sunk $640 in it to fix the suspension. The only other additional expenses I anticipate in the near future is to replace the timing belt which will set me back $700.
I am debating if it is worth repairing the transmission or getting rid of the vehicle which has very little value now that the transmission is busted (less than $500). If I repair the transmission, I can get rid of it for at least $2,500.
The pros of keeping the car are: 1. Low insurance $400/year 2. Low excise tax - $30/year 3. The devil I know The pros of getting rid of the car: 1. Unanticipated repair expenses associated with age 2. The 1998-2001 era Honda accords had many transmission issues and not sure if the repair will fix it.
What do you think? Would it be worth it to repair it or should I just get rid of it? My biggest worry is how reliable the repair will be.
The car has no other issues and has 163,000 miles. It has no rust and I recently sunk $640 in it to fix the suspension. The only other additional expenses I anticipate in the near future is to replace the timing belt which will set me back $700.
I am debating if it is worth repairing the transmission or getting rid of the vehicle which has very little value now that the transmission is busted (less than $500). If I repair the transmission, I can get rid of it for at least $2,500.
The pros of keeping the car are: 1. Low insurance $400/year 2. Low excise tax - $30/year 3. The devil I know The pros of getting rid of the car: 1. Unanticipated repair expenses associated with age 2. The 1998-2001 era Honda accords had many transmission issues and not sure if the repair will fix it.
What do you think? Would it be worth it to repair it or should I just get rid of it? My biggest worry is how reliable the repair will be.