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The $4,000 question

Discussion in 'Anything goes' started by JayFarrar, Oct 28, 2015.

  1. JayFarrar

    JayFarrar Well-Known Member

    So the GF's car, a 2008 Saturn, is having some mechanical issues and she took it in The garage called this morning.

    It will be $4,100 to replace the transmission as it is going out. It seems that in Saturns, the car's computer module is housed in the transmission and that adds some bucks to the job.

    Anyway, the mechanic seems to think that the car might have some other issues that will need repair eventually but wasn't clear, or at least she didn't give exact details.

    So, here's the question, spend $4,100 to get the car fixed or spend that money on a down payment and then be on the hook for car payments.

  2. TheSportsPredictor

    TheSportsPredictor Well-Known Member

    Whatever smallpotatoes says, go with.
    old_tony, Vombatus and Mr. Sunshine like this.
  3. cjericho

    cjericho Well-Known Member

    New car, no brainer. They haven't made Saturns in how many years. Either put that down toward a new car or get a used car that doesn't need a new transmission. Not sure where you are, but in NY, NJ or PA if you have good credit you should get a very good rate now.
  4. The Big Ragu

    The Big Ragu Moderator Staff Member

    How much is a 2008 Saturn worth if it is in OK shape? i.e. -- what is the book value of that car. Without knowing the details of the car, the mileage, etc., I'd bet that the resale on an old Saturn isn't a whole lot more than the $4,100 you are considering putting into it. Add on the other stuff that you say is likely to start making it into a money pit soon. ... and if she can afford it, she is probably best off selling the Saturn for whatever she can get for it and putting the money toward a different ride.
  5. Riptide

    Riptide Well-Known Member

    Junk the Saturn.

    And buy a TESLA!!!!!
    TigerVols likes this.
  6. trifectarich

    trifectarich Well-Known Member

    If I put four grand into repairs, I'd be deathly afraid with every mile that another expensive problem is coming around the next corner. I don't venture in used car dealings, but I'd guess there are newer, reliable vehicles that'll be easier on the wallet than a brand new '15 or or 16.
  7. MisterCreosote

    MisterCreosote Well-Known Member

    I can pretty much guarantee a car from 2008 is worth less than $4,100, especially if it needs that much work.
  8. TheSportsPredictor

    TheSportsPredictor Well-Known Member

    NADA guide doesn't list any 2008 Saturn as worth more than $4,100, except the Sky 4-cylinder. Even that is $7,650 at the max. Many of the others not even valued over $4k.

    So you could buy a used 2008 Saturn for less than it would cost to fix this one.
  9. murphyc

    murphyc Well-Known Member

    Jay, is this a Saturn Ion we're talking about? If so, I doubt you could sell one for $4,100 in good condition. In other words, sell it and get what you can for it. For $4,100 you can be on your way to a decent used car.
    That sounds insanely high for a transmission. I once had a '93 Saturn SL1 with the common Reverse Slam problem. Yes, the problem was so common with automatic transmissions on older Saturns it had its own name. You put the car in reverse and nothing happens. You tap the gas and it slams into reverse. That was $1,000 to fix. The next week I discovered the car was burning oil due to bad rings (another common older Saturn problem, and a bit ironic considering the name).
    When the Ion came out, it created a huge and ugly division among Saturn fans.
  10. JC

    JC Well-Known Member

    Keep the 4100 and buy new at 0% interest.
  11. cjericho

    cjericho Well-Known Member

    Depending where you are, you need good credit for 0%.
  12. JayFarrar

    JayFarrar Well-Known Member

    She has an 850 plus credit score. Her current car, it is an Aura, came with zero percent financing.

    The Kelley Blue Book says car's value is between $3,000 to $4,000.

    I personally think go find a car, and buy it this weekend. But she makes decisions at a glacial pace. We've only been dating 7 and half years, living together for nearly six years, and only this past weekend did it occur to her that marriage might be the end result of our relationship.
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