The engine is one of the most crucial components of the car. Without it, a car is just a container that cannot move and is not very valuable. So, naturally, you might be worried about the condition of your car’s engine and go out of your way to maintain it. But, sometimes, the engine might not work well despite your best efforts. This could be due to usage, age, accidents, or even something completely unrelated.
If the engine has entirely failed, your vehicle won’t be drivable. And considering how expensive engine replacement is, you’ll have to decide whether it’s a good choice to replace engine or buy new car. Making this choice can be challenging since it involves several crucial factors, including your budget and the damaged car’s market value.
This guide reveals the pros and cons of both options, helping you make an informed decision when choosing to replace engine or buy new car.
How Much Does Replacing an Engine Cost
It can be difficult to identify the exact engine prices because they vary widely between manufacturers. However, a skilled mechanic should give you an accurate quote that includes the cost of the engine and their labor rates.
The engine replacement cost ranges between $3,000 and $5,000. However, the cost of new engine for car is $10,000 or more. The majority of the costs are, however, in the middle, and you don't necessarily have to buy brand-new ones. If you’re looking for a more cost-effective option, ask your mechanic to install a salvaged or remanufactured engine:
Remanufactured car engines have undergone a more thorough rebuilding procedure to improve their quality to a level that is nearly equal to that of a newly constructed engine; some even carry warranties. Although prices will vary, installing a remanufactured car engine would be less expensive than using a new one.
In junkyards, salvaged engines are removed from secondhand cars. In this situation, they are frequently the least expensive alternative, but you should make sure to choose the right used engine as these could often have additional problems from past use or maintenance.
New Vehicle vs. Engine Replacement: Top Factors to Consider
Deciding whether to purchase a new car or repair the one you own might be difficult, so here are the top things to consider and make the right decision.
Evaluate the car’s worth: The actual vehicle's worth is unrelated to how much you believe your automobile is worth or how much you’ve paid for it. Instead, you’ll have to determine its current value and learn how much you can get for the car in its current condition and with the damage. Then, learn what the car’s worth would be if you install a new engine. The simplest way to get accurate information is to use a non-biased third-party value estimator.
Find out the condition of the car’s other parts: Sometimes, an engine’s failure is isolated damage. However, in most situations, the engine fails due to poor maintenance practices or vehicle aging. Get a qualified mechanic to inspect other parts of your car, including the air conditioner, starting system, charging system, power steering, and transmission. Based on whether or not these parts work well, they will inform you about any costly repairs and whether or not is worth replacing the engine.
Estimate the cost of repair: Calling around for estimates on the replacement car engine costs is the next step in determining whether replacing the car engine is worth it. It would help if you acquired quotations for car engine replacement and anything else broken that might contribute to the mechanical breakdown so that you know exactly how much it will cost to fix the car and run it again.
Think whether the car has sentimental value: You should consider having the current vehicle repaired if it holds significance for you that a new car cannot match. It’s important to think about why your car means so much to you because you cannot quantify sentimental worth.
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Engine Replacement — Is It Worth It?
Replacing an engine is often a great alternative in the following situations:
You’re looking for a cost-effective solution: It’s more affordable to replace the engine than the entire vehicle. Yes, it might cost you a few thousand, but it’s still not as expensive as buying a brand-new car. For instance, if the engine costs $2,000, that's only a tenth of what a brand-new vehicle would cost.
Your car is under warranty: If you’ve recently purchased the car and it’s still under warranty, replacing the engine is a wise decision. Thanks to the warranty coverage, you’ll receive an almost new vehicle by replacing the engine at little-to-no cost.
Your car has insurance coverage: Similar to warranty coverage, you could acquire a like-new vehicle at little-to-no cost if your insurance would cover your engine replacement service.
Engine repairs are more reliable than buying a used vehicle: Used cars could have unique engine issues. You may spend twice as much over time if the used car you replace has an engine problem. In this case, a new engine could provide a dependable answer to your car problems.
The vehicle has sentimental value: Often, a car serves more purposes than simply being a means of transport. Maybe your car is a precious family heirloom. Or, perhaps it is a treasured present that you received. Replacing the engine would make it possible for you to keep your vehicle and hold onto the treasured memories.
It’s environmentally friendly: There are environmental advantages to replacing the engine rather than buying a new car since producing a new vehicle has a considerable energy cost. By replacing the engine you’re directly contributing to a more environmentally-conscious approach.
Does Replacing an Engine Affect the Value of a Car?
If you intend to sell your vehicle, any potential buyer would want to give it a thorough inspection and a test drive. They will only want to buy your car if its engine sounds good. If your car’s engine isn’t performing at its peak, replacing it would significantly improve the vehicle’s performance and facilitate the sale. Also, a secondhand car's replaced, factory-built engine is a huge selling point so your pre-owned vehicle with a replaced engine may fetch a higher selling price than one with a problematic engine.
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Replace Engine or Buy New Car: The Bottom Line
The cost of new vehicles keeps rising. High monthly costs often outweigh the value, even with a unique car guarantee. Therefore, a solid secondhand car can be a suitable candidate for a rebuilt engine, especially if you've performed maintenance and repairs. The best option may be to install a remanufactured engine if your vehicle is otherwise in a good condition.