My car has 335,000 and the transmission started slipping. Car just passed smog. I was quoted $3k to rebuild transmission. Is it worth it? Or buy another 2007 Fit with around 150,000?

 

Regarding your transmission, there are some relatively cheap steps to take before going for a full rebuild. Is it A/T or M/T? Regardless, do a fluid change and see if that improves your situation. If you do need to repair it you should get additional estimates as $3000 seems expensive to me (but I am also cheap). I would also inquire with salvage yards to try to find a replacement transmission and compare that cost.

In terms of your more general question about keeping an older car, I would ask myself:

1). What is the condition of your car? Clean or corroded? Strong or weak engine? Regular maintenance history or did you just drive it? Has it lived a hard life or did you rack up all those miles with long-distance highway commuting?
-- You know the car you have; you don't know anything about a hypothetical future 150K mile Fit, which might give you many years of trouble-free service or might be a money pit.

2). Are you willing to do continuing maintenance? Are you a DIY person for more basic repairs?
-- Any car with 335K miles is going to need parts replaced/repaired, and probably more/more expensive parts than a hypothetical car with 150K miles.
Much of that work is not difficult, especially on an older Fit, which is one of the most basic/simple cars on the road. When you take your car to a shop much of the cost is labor (up to $100+/hr). Maybe you're fine with that, or maybe you're willing to read the service manual and watch Youtube videos to learn to do simple jobs yourself.

3). How soon do you want a different car?
-- The odds are that a car with 335K miles isn't going to last as long as a car with 150K miles. Again, you know your car and if it has been well-maintained it might have years of life left. Or, your transmission may be the first domino in a very expensive series of repairs to keep the car on the road.

Every person will answer these questions differently, and the answers will be different for each car. Some folks wouldn't pay for a $300 repair for any car with 335K miles. Others will work diligently to keep an older car on the road for years and years.

 

Try one of these types of products first. If you really need a new tranny, drive 90mins south and bring a good used tranny and 2 or 3 benjamins with you and visit TJ for a day or two.

 

Thank you for all the advice. Keep you guys updated on what will I do.

 

Well, I ended up buying an '08 Fit Sport with 112,000 miles. Got a good deal on it. Thank you, for the advice from you guys.

 

What is going to happen with the old one?

 

I'm going to sell it. It has a clean title, tags are good until August of 2024. Great for somebody who needs a shell, to transfer their drive train over. I'm keeping the catalytic and rear muffler. I used some of the parts to transfer over to the new Fit I bought. Whoever buys it, will need to have it towed. Transmission no good anyways. I'm going to list it on offerup, see what happens.