OK, I have a few options on the tranny of my truck. This is the truck I bought 5 weeks ago and now the tranny puked it's guts out. It will cost me $875 plus $150 shipping to buy a rebuild tranny from Phoenix and put it in myself, $900 to buy a used tranny local and stick it in as is, or $3200 to have the dealer put in a tranny for me. Should I........ Your feedback please

 

What year of truck is it?

 

What year, is the truck?

4x4?

Auto or stick?

What is the condition of the rest of the truck?

What did you pay for the truck?

What is the truck worth (blue book) if you fix it?

I assume there is no warranty left or you wouldn't be asking the question.

Pending the sales contract you could hassle the dealer more and they may cut you a better deal on the tranny (free labour for example), assuming you bought it from the dealer.

Many options to way. Can't give you a vote with the available info.

 

OK, here are all the sordid details.

Parents you may want to ask your children to leave the room as the financial carnage is pretty gruesome.

On November 30 2002 I bought my dream car, 2000 Mercury Grand Marquis LS. Loaded to the hilt. Dual exhaust, leather, dual power seats, the works. I paid $11,500 for it. She had 45,000 miles on her when I took her home.
In February 2003 it was using 2-3 quarts of oil per week and blue smoke was pouring out the tail pipes. I did a compression check and number 4 and number 8 cylinders had 30 psi in them. The rings were shot. I took it back to the dealer and they said sorry. Powertrain warranty does not cover internal engine parts and it's only good for 90 days or 3,000 miles. I had 48,100 miles on the car at the time.
So I took it to a different dealer to trade it in.
I didn't have the $4500 they wanted for a new engine. I wanted another Grand Marquis or Town Car but I could only get $3000 trade-in because of the shot engine.
This meant I would have to carry the difference on my new loan.

NOW

I was able to get into a 1999 F-150 4X2 Supercab short and narrow for $8500 & it had 75,000 miles on it when I bought it.

Carry over on the Mercury was $8200. Add the $8500 I owe on the truck and I owe $16,700 for a truck that as of now has a $7195 Kelly Blue Book value.
I bought the truck Feb. 14 2003.
It too had a 90 day 3000 mile powertrain warranty but the truck now has 82,000 miles on it. That $16,700 I owe is at 15.8% interest for 60 months. I drive an average of 1,000 miles a week so that truck should be very used by the time I make my last payment.
I feel used. I feel stupid. I feel trapped. I feel frustrated.
I talked to the Finance company and they said I could turn the truck in and they would wholesale it at auction.
I would have to pay the difference on the loan (including interest) within 30 days or they will sue me.
Currently, that sum is $26,434.
I do not have that kind of money or assets i could sell to come up with that kind of money.
What is my best course of action??
Hindsight is 20/20 and I should have taken out a personal loan and put a engine in the Mercury. But I was mad and couldn't stand the sight of the car because I felt so used and cheated. Now I feel that way again.

 

Sounds like you lose any way you look at it.

I would talk to the dealer and see if they can cut you a deal. Push the issue that you have only had the truck for 5 weeks.

If you can't get the dealer to budge, go for the re-built.

 

Oh man, you've had your string of bad luck. Usually it don't continue. I would get the rebuilt trans and have it installed. Better value in long run since you're probably gonna keep it for the entire loan. You wouldn't want to add up more money on different loan since your owing more than what's worth in the first few years.

Just my 2 cents worth.

 

I feel for you.....

Please don't take this the wrong way..... but I have never bought
a used car...period.

(I'll try and pull the band-aid off quick)

I know, ...money is money..but when I heard you say your "dream car" was a (used) Mercury Marquis, I gulped.
If you look back at the track record for almost any* Ford vehicle,
their resale/trade-in/value (after the life of a typical FMC loan) is nil.
This is a fact of life.
The higher end (trim level) the car, the faster it crash bombs into ~zero value.

I'm taking a chance saying any of this, because I know you're WAY hurtin, but I feel like I'm doing the greater good by expressing my views on this (which I believe are accurate).

When you buy a car new (even if you have to step down a trim level to get in what you want) you hold much more power in negotiating any financing or service issues (when working with the dealer you purchased it from)... Face it, you butter their bread.
(+ the warranty lengths far eclipse the 3,000K/30-day used type)

Used cars may be much cheaper, but when you add the headache
of unknown history, previous care, and overall maintenance, no one can be as accurate as you. In my experience, its an equal/equal scenario....(Plus, you get a newbie!)

My father always taught me:
Any car is the worst investment you will ever make.
(sans any collector-type)

He was right.
I truly believe that Ford puts a higher degree of longevity in their truck line...to cater to the needs of the "working man"...
Luckily, its a buyers market.... Ford now "gives" you the money to buy (0%)---How cheap is THAT?.... You'll NEVER get that rate on a used vehicle---that alone, can save thousands..

Bobby~~ I know I didn't make you feel any better,
But you seem like a very articulate, honest person.
One day all these loans will go away, and we will one-day meet at the hydrogen fillup station, to recharge our hybrid hover craft.

All the best to you~~
Dave

 

If the truck is in otherwise good condition, I'd put the transmission in. However, I'd look for a good, local, independent shop to rebuild and install the trans. Why? Because if you purchase a trans and either install it yourself, or have someone else do it, and the tranny fails, the r and r is now on your nickel, instead of the warranty a good shop will give you. Ask your friends, work associates, etc., if they have had luck with a local shop. If you are in Northern California I can give you a couple of names.
As an aside, I agree with Dave. As someone once told me "Used cars are not for poor people, used cars make people poor." But, I guess sometimes someone will get a good buy on a used car. Also, I agree that Fords, and most other domestics, just don't hold their values. Only imports, especially Hondas, do that!
Glenn

 

As William Jefferson Clinton used to say "I feel your pain".

Sounds like your best choice in a bad situation is to find a "reputable' trans mechanic, and have your trans fixed. I wouldn't have the dealer fix it, and I haven't seen/heard many good things about re-builts .

A little advice about buying used vehicles. If you can, try to buy low mileage cars 2 model years or less old, which still have some of the factory warrenty left. That way, if there is some hidden problem, you can at least demand service from the dealer.

Also, if you are not knowledgeable about car mechanics, find a local mechanic you trust, and take the used vehicle to him before you buy. Believe me, this is money well spent.

I have bought many used vehicles over the years, and have never been burned, but it is "buyer beware"!

New vehicles are great, but you take one heck of a hit in depreciation in the first year.

Anyway, I'll shut up now. Good luck in the future.

 

Well, I got tired of calling the dealer and being put on hold for 30-45 minutes only to be told the manager is not available so I went to Auto Zone and bought 3 cases of Mercon V ATF. I started filling running and draining the transmission. I did that 5 times until there were no more metal shavings in the pan. I refilled the tranny and started it up. The truck moves. It shifts like **** but al least it moves. Let me tell you something Dave. I really appreciate the wisdom you shared. I drove my share of crappy vehicles. First was a 87 Chevy Van I paid $1200 cash for. Dead reliable. Left me standing once. I got tired of it and sold it for $700 and bought a 1963 Chevrolet C-20 and a 1960 F-100 both for $500. Drove the **** out of them for years. Routine maintenance and ether on cold days. No heat no A/C. Never a problem. I saved up my money and built my credit until I could afford the Grand Marquis. That was the car I always wanted. A rear drive V-8 powered American luxury sedan. The day I bought it was one of the best. The euphoria of sinking into that leather couch as I drove it off the dealer lot was out of this world. Finally I had a real car. Then it all came crashing down. If I had the money I would have bought a new Marauder. But beggars can't be choosers. Well I'm gonna go get put on hold again.

 

Good old American ingenuity may have saved you another 3k
for a new tranny. (that, and a case of Mercon)

My wife bought a (eh-em) "Previously owned" 1997 Mercury Villager in 1998...it had 27K miles on it.... (lease turn-in)
It was her first (and, I guess mine, too) used vehicle.

It has the 3.0 Nissan V6 in it...it runs good with 90K on it.
We got for $18,500 on the road (in 1998)---a new one stickered at about 25K (maybe 21-22K otr)

Its a good example of the enormous amounts of lease turn ins that are out there, that will be of good service for theie expected life.

I see a pattern, too....People just don't want to keep cars anymore... Much to the delight of car designers, dealers, etc.

I sold a 1986 F150 to buy my 03 SC XLT. I'll never keep this thing for 16 years.... I just don't see it. My 86 (6cyl) cranked 225K w/o removing the head.... I wish myself good luck with the new one.

You've got the best thing going: ...... A good attitude..

Keep us posted!
Dave

 

Well Dave I still think I will need a new tranny. It shifts real bad but at least the grinding noise is gone. I gotta floor it to get it to engage so I can leave the line. Boy I sure hope I didn't park it too close to those railroad tracks..... Let me call my insurance agent and triple the coverage just incase.