Transaxle replacement worth it?

Wish I was closer. Just in NC there are about a hundred transmissions in junkyards for sale under $300. www,car-part.com . It's really no different than replacing any other transmission. Labor for install should be around $1000.

Brad

 

My take:

The $5,500 quote is bogus. If all you need is a transmission, $1,500 to $2,000 for a used transmission is doable, and based on the failure rates seen around here, you are not likely to experience another failure of that component before you decide to give up on the car.

If I were you, I would see if I could find someone willing to do it for ~$1,500, and I'd jump all over that. The cheapest car is pretty much always the car you own.

 

How much did this shop quote to replace with a used transmission?

I always lean towards keeping the old car. That being said, you are facing a minimum of $2400 on a HV battery if you choose to go new rather than refurbished. Looks like the best case scenario for you would be $1500 to fix the trans, and with a looming HV replacement, $2400 best case for a total of $3900. After doing these repairs there is a good chance of getting a lot of life out of the Prius, but with a chance of more $$$ in repairs.

If you assume a car payment of say $500 monthly, just 8 months of payments covers all of those repairs. And if you keep the old car you own it, and not the bank. I'm old school in that I only pay cash for my vehicles.

Honestly, I feel for you as none of your choices are good here.

 

Count me in that list as well.

Dealerships would have me believe I could "afford" to own a much more expensive car than the one I drive, but I've always been of the mindset (with depreciating assets) that if I can't afford to buy it outright, then I can't afford it.

 

Funny you mention that. I often joke with my wife that people must think we are paupers when we are driving around in our 10 year old Prius. Most people drive the most expensive car they can 'afford' on payments. And unfortunately they are sacrificing their financial future as they do it.