Transmission died, what next?

"StudyStudyStudy" (jesterjin) 03/04/2016 at 15:33 • Filed to: None

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My daily driver started stuttering on turns last weekend. I took it into the dealer after it started to pull and clunk. Turns out the teeth on the transmission seems to have eaten itself so my transmission in my daily driver died.

It is an automatic 2006 Acura RSX with a 110,000.

The quotes I have gotten range from 5600 for a replacement from the dealership along with axles etc, down to 3400 for a rebuild of the transmission from a local shop. Unfortunately I need a daily driver and my other car is on classic insurance as well as not having most of the rear end together so I need to put a plan together.

Option 1:

Trade in the car to the Acura dealership and get a lease. They are offering me a surprising amount for my car given the bumps and bruises it has on the outside and interior, half of the KBB price so about 2500. I could use the 2500 to get myself into a lease, they have a pretty good lease deal right now for 3,000 down and 240 monthly payments at 10,000 miles a year for 36 months. That means limited mileage, not having a car in 3 years time, etc. On the flip side I get to drive a new car with a factory warranty for 3 years while not affecting my savings and only slowing my future savings by a manageable amount.

Option 2:

Fix the car. It is a hard pill to swallow, but I have a savings fund that I can use to get my car repaired. I would not have any mileage restrictions, I have spent 2-3k on the car in the last two years (new shocks and springs, new tires, brake rotors and pads, alternator, starter, etc), so I would be able to get some more use out of it. The only thing left to fail would be an electrical component or the engine. If the car lasts a couple more years, I can drive it to any dealership and sell it/trade it or do a private party sale when the time comes.

Option 3:

Sell the car as is, unfortunately this will be difficult as I do not have anywhere to store a non-running vehicle. I could potentially park it somewhere and put up a posting and hope for the best. With the proceeds I can get myself into a used car that I could make a bit more reliable with some of my savings.

Any advice? Or experience? It would be nice to shop around, but I’m not sure anywhere else will give me credit for my broken car (dealership removed axle to inspect transmission, axle will not longer go back in due to the teeth being all mangled).

Edit: just found a shop that has rebuilt transmissions in stock for my car, he gave me a price of $2500 installed, which I imagine with tax and axles and such will bring it to about $3000. That is about the value the car lost from loosing its transmission so a very viable option.

atrombs > StudyStudyStudy 03/04/2016 at 15:42

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Just finishing up my lease. It’s been great, but being limited on milage can be a bummer time. It will always be in the back of your mind anytime you think of taking a long weekend to go on a trip or something like that. Just my 2¢

Steve in Manhattan > StudyStudyStudy 03/04/2016 at 15:42

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This calls for a junkyard transmission - buy it cheap and put it in yourself or get someone to do it.

StudyStudyStudy > atrombs 03/04/2016 at 15:44

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That is a good point. According to the calculator I should be under the mileage, but it is something to constantly keep track of. Glad you had a good experience, that makes me feel a little better about that option.

Klaus Schmoll > StudyStudyStudy 03/04/2016 at 15:45

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How soon do you need a car? Like Monday to get to work? Or do you have a week or two to shop around?

If it’s totally urgent, I’d spent the weekend to find the best local beater for around $ 2k. It will still be worth 2k in a few weeks/months time when you figure out what your next move is. Consider it an almost free rental car (I know... tax, plates, insurance... etc. but still) I wouldn’t hop on a 3 year lease deal out of pure necessity. Give yourself time to think it through.

StudyStudyStudy > Steve in Manhattan 03/04/2016 at 15:52

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That also seems like an option. The prices are fairly affordable on the ones I have seen used, but I’m not finding too many places willing to do the task. I’ve gone through the FSM and it looks to be a ton of plugs on the automatic alone, and requires dropping the subframe etc. It is an option of course. Would probably save me about 1,000 or so, which makes me lean towards having it rebuilt with a warranty on some front.

Steve in Manhattan > StudyStudyStudy 03/04/2016 at 15:57

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The 20-something me would love the opportunity. The now-me would throw money at the problem. This is a good time to decide where you are ... if there’s a low-mileage tranny that can be pulled out of a car and put into yours, that might be the thing. But it might not.

StudyStudyStudy > Klaus Schmoll 03/04/2016 at 15:58

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I’m trying to take my time, I want some hard numbers from the dealership so I won’t be jumping on anything immediately. They’ve given me a courtesy car for the moment that I plan on returning this weekend so I haven’t felt desperate till now. After that I can borrow my parents car or carpool with my sister to work for a little bit while I process.

The concern is how long the dealership would allow me to keep my car on their lot. If I’m looking over numbers and talking with their salesmen I think they wouldn’t mind for a few days, but once they want it off their lot, there are not a lot of places I can put it.

That is good advice though, I’m trying to give myself a lot of breathing room, and the fact of locking myself into a lease for a couple years is a bit daunting. On the flip side it would be nice to resolve this matter sooner then later.

StudyStudyStudy > Steve in Manhattan 03/04/2016 at 16:03

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I’m right at 27 so I hear both sides echoing in my head.

If I had the space, I would totally just find a used transmission and spend a day putting it in, save money do a good job feel good. There are a couple DIY places I could go to, but if I run into a hurdle there won’t be anywhere to turn to and I would be out rental fees for the day. And used transmission could last a decade or it could grenade the day after. These transmissions aren’t fragile per say, but there are not many low milage examples given how reliable these cars generally are.

There is something slightly crazy about putting 3-4k dollars into a car only valued at 5-6k. I’m just not sure.

Steve in Manhattan > StudyStudyStudy 03/04/2016 at 16:12

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This is a question the Car Guys always ask - what would you pay for 5K, 10K, 25K more of Acura driving? You know the car’s problems, you know what it needs, you know what you can skip. I’d lean towards fixing it on the cheap, and if it goes in 5K, you’ve gotten your money’s worth.

CompactLuxuryFan > StudyStudyStudy 03/04/2016 at 16:14

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I would probably look for a cheaper lease than an Acura... Maybe one of those new Civics?

uofime-2 > StudyStudyStudy 03/04/2016 at 16:14

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Terrible plan:

Its a K20 right? So buy any civic with a blown engine for dirt cheap and shoehorn it in!

StudyStudyStudy > CompactLuxuryFan 03/04/2016 at 16:18

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They are a bit cheaper, but the upper spec model seems to be getting quite close, I’ll call around, the concern is the value of my “trade-in” I can get in a cheaper lease, but if my trade in is valued less then I would be at a bit of a loss. They are the same company so maybe they would be offer a similar price.

StudyStudyStudy > uofime-2 03/04/2016 at 16:19

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If I had the space and time this would turn into another project car, some grandiose plans of a manual swap with a K24 bottom end and such have crossed the mind, but already neck deep in another project, so I need a bit more reliability out of this one.

StudyStudyStudy > Steve in Manhattan 03/04/2016 at 16:24

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That is a fair point, with the lease I would be paying roughly a 30 cents a mile, so to break even I would need my car to last 15k or more, every mile it goes more would be a savings, every mile it does less would be a loss.

uofime-2 > StudyStudyStudy 03/04/2016 at 16:24

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I’m familiar with your other project haha, that’s why I called it a terrible plan.

I’m shocked they want that much money to rebuild your transmission, maybe find an indy shop and see if they can give you a better price.

StudyStudyStudy > uofime-2 03/04/2016 at 16:57

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I gotcha, just putting my thoughts out there, because lord knows that plan has crossed my mind.

Some potential good news, searched on craigslist and found a transmission shop that has rebuilt transmissions shops in stock, they said they could install it for a very very affordable price. Trying to get more details.

Chteelers > StudyStudyStudy 03/04/2016 at 17:11

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Never pay down payment on a lease. It’s money literally down the drain. Dealers use the term because people put money down on a loan, so it’s familiar, but on a loan you are putting that down payment towards the vehicle itself, so you keep that value. On a lease, a down payment goes straight to the dealer.

Consider this option, using your lease numbers. $240/mo payment + 3000 down on a 5yr loan is $17400. Add a little for interest and tax/title. There are plenty of brand new cars at that price point, most with factory warranties which cover you during the life of the loan. There are even more 1/2/3yr old certified used cars at that point. Many also have warranties. My advice? See if you can find a 2-3 yr old, certified pre-owned vehicle, for around $15k, with a good 3 year warranty.

StudyStudyStudy > Chteelers 03/04/2016 at 17:25

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That makes quite a bit of sense. That was just the deal advertised that I was quoting. My friend gave very similar advice to go shopping for a slightly used car with an intact warranty. I appreciate the advice, I’m going to think about it a bit.