Car question... fix my transmission, or say byebye and lease new?

[nj meadowlands]

Just got the macabre news that my 1998 jeep grand cherokee (149,000 miles) (my first car) likely needs a rebuilt transmission, which would cost about $1700.

Needless to say, I am kinda bummed and trying to figure out whether I should get it fixed, or just get rid of the car and lease a new one. I live in the city so I drive very lightly (predominantly in the summer) and could easily fit in a <10k mile lease.

I'm kinda 50/50 on what I should do...the car has sentimental value and, although needs a few other nickel and dime repair, has a good engine in it and is relatively low miles for how old it is.  But, I could probably qualify for a pretty good, low miles/low money down lease.

anyone have any thoughts?

[no psls]

Kiss that baby goodbye !!!!!!!!!!!!!!

[nj meadowlands]

RELATED:  would love to get a 2nd opinion, so if anyone has a transmission mechanic recommendation in the bergen county area, i'd love to hear!

[peebag]

just my 2 cents but it's almost a 20 year old car with 150k miles on it.  Putting any more money into it is just not a good idea.

[nj meadowlands]

3 minutes ago, peebag said:

just my 2 cents but it's almost a 20 year old car with 150k miles on it.  Putting any more money into it is just not a good idea.

generally agree with your sentiment...especially since there will invariably be other sh*t that pops up in the near future requiring nickel and dime fixes

at the same time, 150k miles for a well maintained '98 ZJ isn't "that" many...at least in terms of, maybe seeking a second opinion.

[Larz]

you won't get any return on that investment, it won't help the resale at all

put that money into your next ride

[joewilly12]

The Jeep is owned owes you nothing getting into a lease or purchase is a car payment that comes around every 30 days a new vehicle is nice but if you don't need a car all that much why take on a payment fix the Jeep go the Jasper route had one of their rear axles installed in my sons Jeep Wrangler was happy paid the bill and still owned the car no payments.

[ljr]

How much per month you expect to be paying on a lease?

how much "trade in value " will they give you for 150K ?

where is the break even point for the new car $$$ to equal the $1700 on the old?

how much you think you'll be driving over the next couple of years?

[nj meadowlands]

LJR - i'm a pretty light driver.  

Sidenote:  i actually just got a call from the transmission shop that it might not actually be the transmission.  they say that it might be an electric issue (PCM maybe) outside of hte transmission

 

Now they are just playing with my emotions!!

 

 

[Maxman]

There is a used car dealer here that fixes up and sells Jeep Cherokees almost exclusively. I spoke to him when I was looking for a car for my son. He claimed that those old Cherokees routinely last 350 - 400k miles.

A 2nd opinion is probably your best bet. If you can get it running for $500 or so then keep it going. If not then $1700 is definitely more than I would put into it.

[nj meadowlands]

8 hours ago, Maxman said:

There is a used car dealer here that fixes up and sells Jeep Cherokees almost exclusively. I spoke to him when I was looking for a car for my son. He claimed that those old Cherokees routinely last 350 - 400k miles.

A 2nd opinion is probably your best bet. If you can get it running for $500 or so then keep it going. If not then $1700 is definitely more than I would put into it.

Agree with this line of thinking, thanks.  Especially with this news that it might not be the trans, but actually the powertrain control module.  Going to take it to a dealer for a careful diagnostic and see what they say.

[ZachEY]

9 hours ago, nj meadowlands said:

LJR - i'm a pretty light driver.  

Zipcar

You said you're in the city.  $70 a year plus daily or hourly rates.  If you really are a light driver, you'll likely spend less than that $1700 in a year and you won't have to deal with parking or additional maintenance.

[Rexorcism]

Just got the macabre news that my 1998 jeep grand cherokee (149,000 miles) (my first car) likely needs a rebuilt transmission, which would cost about $1700.

Needless to say, I am kinda bummed and trying to figure out whether I should get it fixed, or just get rid of the car and lease a new one. I live in the city so I drive very lightly (predominantly in the summer) and could easily fit in a

I'm kinda 50/50 on what I should do...the car has sentimental value and, although needs a few other nickel and dime repair, has a good engine in it and is relatively low miles for how old it is.  But, I could probably qualify for a pretty good, low miles/low money down lease.

anyone have any thoughts?

Take it down to the Bronx, $400

[jdeacon]

My father in law has an old ford ranger that has 300k plus miles on it. Just now had to have the trans replaced. My 08 silverado has 115 k miles on it, runs as good as the day I got it. No reason to get yourself a new car bill, they suck. Plus the higher insurance bill that comes with it. Unless you are itching for a new car just keep fix her. she should be good for another 100k