Here’s the latest reader question, along with my answer:
Don asks: My truck only has 240,000 miles on it and the transmission went out, I love this truck. Do you think it would be smart to put a $5,000 rebuilt transmission in it? I could never replace this truck for $5,000.
My reply: I think you may have answered your own question!
Assuming your ’97 F250 is otherwise sound, I think rebuilding/replacing the transmission makes good sense. Even – thought exercise – if you only get three more years of service out of the truck, think how much you’ll have saved vs. making $500 monthly payments for three years. Just one year of $500 payments would be $6,000 – more than the cost of the rebuilt transmission. If the truck serves you for three years, you’ll have avoided $18k in monthly payments for a net savings of $13k. More than likely, the truck will remain serviceable for many years longer than that.
Also, this ’97 truck is a keeper. It is fixable. It is inherently durable. Nothing new is.
PS: You might give thought to a good used replacement transmission; this could reduce your costs by several thousand dollars.
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PS: One of the major disadvantages of EVs is that you will NOT be able to do with them what you’re doing with your ‘97 F250.
EVs may not have a transmission, but they do have batteries packs that cost far more than $5000 or even $10,000 that don’t last for even 10 years, let alone 20 or more. That’s if those batteries are still available—unlike your 12 volt AC Delco car battery, EV batteries are not standardized, even across different models by the same manufacturer, so there’s not much aftermarket support á la Jasper engines and B&M transmissions.
EVs also have software. That software may not be supported by the manufacturer after 10 years. And just like any electronic device, “upgrades” will be made to your EV over the years that will downgrade its performance.
I’ve had to get rid of cars not because the engines and/or transmissions went bad, but because the body and/or frame was rusted out.
Dude, this is a no-brainer! Get it fixed. Now that I’ve finished blurting out a reaction, lemme put some backstory to it: Whenever faced with a catastrophic repair cost, I assess if the *rest of* the car is good, going down the list of (major) things. Is the engine good? Does it smoke oil, or smoke steam? Does it leak anything profusely? Does it start reliably, and make good power all the time? Is the body too rusted? Frame? Are the remaining “creature comforts” good enough? (seats, A/C, radio, windows, etc.) For me, if the all those yield positives, then I pay for the big repair.
What are my personal criteria for getting rid of a car? It has to be reliable, to mean not leave me stranded. Once (it happens) twice (I’m taking notice) third time (it’s outta here). It has to not continuously nickel-and-dime me, or not have the same stuff repeatedly break. I dont mind fixing something once, but HATE fixing the same thing twice. It has to *not have* electrical gremlins. Those ghosts are killers. Nothing evaporates the confidence factor in an old car than that, for me.
That’s what did in my ’98 Ranger. It wasn’t Ford’s fault either. The aftermarket alarm put in by the original owner eventually went on the fritz, killing the reliability of the electrical system.