When you’re looking at buying a new engine, you may wonder if you should just throw in the towel and get a new car. Our engine repair shop in Waltham can help you decide what is the best choice for your budget.
Bad news- your mechanic has just told you that your car requires a total engine replacement! Not only are you looking at some pretty substantial repair costs, but your car may be laid up for at least a week while your service technician works on replacing the engine. At this point, is it maybe worth it to just cut your losses and buy a new car? We’re here to help you decide whether engine replacement or purchasing a whole new car makes the most sense for both you and your wallet.
Let’s face it- new cars are fun! Even if you buy a pre-owned car, it’s still new to you, and a lot of people look forward to the new-car experience. Additionally, a new (or newer) car is likely to come with a lot fewer headaches attached, especially if your existing car is getting up there in years. As cars age, you can expect to need a lot more service, repair and part replacement to keep it running at its peak. It’s true you’ll have no such problems with a new car, should you choose to go that route.
But are you currently able to afford the monthly payment that comes with your new car? Even if you choose a vehicle that is within your means, you’re still on the hook for a payment each month- something that may seriously affect your budget if your existing car is paid in full and you’re not used to having a car payment anymore. Not only that, but new cars come with hidden charges and fees that can impact their total cost- for example, you’ll have to budget for a new registration and potentially higher insurance premiums than your old car used to command. These are all things you need to take into consideration prior to pulling the trigger on a new car purchase.
We’ve already covered the significant cost (about $2,250-$4,000 on average for a remanufactured engine) and down time (approximately 1-2 weeks on average) that will be involved with a total engine replacement, and these can definitely be deciding factors for you. However, keep in mind that no matter how expensive your replacement engine may seem, it is still only about 20-30% of the cost of a comparable new car, which can make a huge difference in the long run for those whose cars are already paid off.
Not only that, but ride-sharing services like Lyft and Uber have made it a bit easier to get around town if your car is in the repair shop- a week or two of mild inconvenience may be worth it to you if it means saving money on a new car. Additionally, some people’s insurance plans cover the cost of a rental car if your vehicle is down for maintenance- it may be worth your while to check your policy and see if this applies to you before doing anything rash at a dealership.
Finally, it is good to keep in mind that a trade-in with a faulty engine is going to net you a lot less at the car dealership than a trade in good working condition. Even if you have your heart set on a new car in the near future, it may be well worth it to put the purchase on hold, choose to have the engine in your existing car replaced, and then visit the dealership in a few months or even a year with a big down payment and a trade-in with a newly-refurbished engine!
If you think trading in your old car to rid yourself of engine problems is your only choice, think again: the team at Riverside Transmission is here to help! We offer competitive pricing on rebuilt or remanufactured engines that have been built by expert technicians and tested for quality. Let the Riverside team help you save your car- and save money- with our expert engine replacement services. Our engine repair shop in Waltham is conveniently located, and make it our mission to provide our customers with unmatched quality and customer service with every repair we perform. Call us today at 781-894-9395 or contact us here to schedule your engine replacement consultation. For affordable engine replacement in Waltham, MA, the choice is clear- Riverside Transmission!