I’ve been talking to a lot of customers over the last several months asking us flat out if they should fix their Toyota. Drivers are worried about safety and investing money into a vehicle that might see a rapid decline in value.-
The fact is that whether you have a Camry, a 4Runner, a Tacoma, or any other late model Toyota, replacing your engine still probably makes sense – whether you choose to keep your vehicle or not. You have to make a decision that works for you, your family, and your financial situation. My job is to make you aware of what you need to know when you look for a used Toyota Engine.
The first question you need to ask is “What happens if I do nothing?”
If you don’t replace your engine, you will be stuck with a yard decoration that you can keep or sell. If you keep it, you’re a unique breed, and I can’t help you! If you sell it, know that you’re only going to get around 25% of the wholesale value the vehicle has with a good engine in it. In other words, a $10,000 car with a bad engine is worth, at most, $2,500. If you have a paid for car worth $10,000, figure you will invest at most $4,000 to replace it ($2500 for engine, $1500 for installation – this is a HIGH figure). In this example, by replacing the engine, you net $6,000. Since you’re not buying another car, you net an additional $10,000. That’s right – replacing your engine just saved you $16,000.00.
The next question you need to ask is “Would a replacement vehicle be a better option?”
If you can stomach throwing away $16,000, and need another reason to replace your engine, consider the value of “the known.” You know your vehicle, you know how you have maintained it, and you know whether or not it has a good chance of needing other major repairs. You know what you’re dealing with.
Sadly, one of our largest customer groups is people who have just bought a used car. They drive it off the lot without having a mechanic look at it prior to their purchase. A week later, boom. It could be an original high mileage engine failing. It could be due to lack of previous maintenance. Sadly, a common reason is that the engine was replace with a high mileage piece of junk by the dealership. I know that I answer calls all day long from used car dealerships looking for a $500 engine. Here’s a hint: $500 dollar engines typically aren’t worth the $500 you pay for them – especially when dealing with late model Toyota engines.
The last question you need to ask is “Is replacing my Toyota Engine a patch, or a good long term solution?”
In 2003, I replaced the engine in my aunts 1997 Toyota Camry. This is 2010. She has put close to 200,000 miles on the engine I got her. If you get a good low mileage engine, replacement is considered a “permanent repair.” Recently, I purchased a 2002 Toyota Camry with a bad 2.4L engine. The vehicle has 189,000 miles in it. I’m putting a 19,000 mile engine and a 16,000 mile transmission in it, along with a new all aluminum radiator and new struts. My expectation is to have the equivalent of a new car for used car price when I’m done
In conclusion, I would say that yes, you should fix your Toyota if you have a bad engine. You’ll save yourself a lot of money and have a good, lasting solution. By avoiding the headaches that can come with buying a used car, you can avoid stress and drive your vehicle “on the cheap” without sacrificing safety and worrying about getting stranded on the road.
If you need an engine, please, contact our sales team at 901-266-9996. We would love to help find an engine that will last you a long time – at a good, fair price!
Popularity: 5% [?]