🔺 r/personalfinanceuJake323021·35 days ago
Car needs a new engine. Sell it as-is for a down payment on a new car or replace the engine?
The car is a 2022 Toyota Supra 3.0. It's paid off and has 25k miles on it. Without engine problems it would be worth $45k-$50k. Dealership quoted $25k to replace it with a new engine. The mechanic quoted $20k for a used engine with <20k miles. The mechanic also offered me a price of $15k-$20k to buy it as-is when I asked them about that as an option although they are recommending I fix the engine and then sell it if I want to get more money. I'm debating between just selling it as-is and using that as a down payment on a new car or repairing it. The issue is I don't have the $20k right now so I'd have to take out a loan either way. So it's either a $20k loan to get a used engine in my car or $20-$30k loan to get a new car. Any advice? Never had to deal with car trouble like this before. Unfortunately nothing is covered by warranty, long story, so it's all out of pocket costs. submitted by /u/Jake323021 to r/personalfinance [link] [comments]