Can i trade in my Ford Explorer with a broken transmission?

Question

I own a 2001 Ford Explorer Sport and recently the transmission went out on it. No reverse, and is not shifting correctly, pretty much the transmission it screwed. I owe around $4,600 on it and im trying to decide wether to get it fixed or try and trade it in for another car, but im not sure if i even have a value for it since the transmission is broke. So would i get anything for it?

Answer 1

yeah owing that much and your transmission is not working i would say you have no trade value a dealer would tack on another 7500 to trade it you would be better fixing the transmission and pay your balance down and then trade

Answer 2

Check out book price on it  (kelly blue book) and then subtract what you owe yet. That will give you approximate equity you have in the vehicle if it still had the tranny workin. Get a quote from a shop to fix or replace the tranny and subtract that from the equity. That should be how much you should be able to apply towards a new vehicle (equity). Most dealers will take something like that on trade but keep in mind, they will probably want to charge you more for the quote to fix the tranny ( their labor rate vs. the shop ) . That should give you a ballpark figure on hether it is worth it or not.

Answer 3

they end up steeling your vehicle,and since u owe on it you'll end up paying for it any way plus the cost of the new vehicle!good luck!