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Q: Repair transmission or buy new car

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My car needs a transmission and Machanic quoted me $1600 for a rebuilt transmission from a 2004 model. Is that worth it to do or should I just buy a new car?

My car has 134000 miles.
My car has an automatic transmission.

Only if the value of your car after the repairs are made will exceed the cost of the repairs plus the value without the repairs being made. A 13-year old vehicle may not be worth much and depends on resale value. Check the value of your car if it was running good to see if it is worth it to repair versus a new car costing a lot more. You may find a deal to trade it in as is without putting the transmission in.

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