I have a 2010 Toyota Highlander automatic that I bough used. I've had it for 5 years now and current mileage is at 175,500. Sadly, the engine has been burning oil (to the point where I need to check the oil every day to ensure I have oil) and will cost me $5-6,000 to repair it. In today's market, is it better to just buy a brand new car or buy a new engine?
I've also just replaced the water pump and door handle. The car is in great condition for it being 12 years old (aside the engine burning oil) and I would hate to part with it, but am willing to if it saves me money in the long run.
If you want to put another engine, you have two options:
a) Buy a rebuilt one from a reputable company with a good warranty (More expensive- Less risk).
b) Get a low mileage engine from a junkyard (Less expensive- More risk).
Thank you!
I would rather spend $6K on a warranted, remanufactured engine than $45K (average price in US) on a new car.
That's what I'm thinking as well, but I wasn't sure if it would be better to invest in a new car at this point.
Thank you for the reply!