Our 2006 Toyota RAV4 (4 cyl, automatic, 4wd, 133,000) needs a new engine. We thought it was fine when we got a leak checked and fixed about 4 months ago. Well, it was apparently burning oil, because it ran out and the engine is now dead. The car was running fine otherwise. We just got a bunch of work done on it in the last 2 years: New battery, new alternator and drive belt, replaced all control arms and ball joints, rear propeller shaft, and new front and rear brake pads/rotors. So, around $4000 total. Now, they want $5,500 to rebuild the engine ($7,000 for a new engine).
So, do we sink more money into this car (and pay better attention to the oil) in the hopes that it will go another couple hundred thousand miles? (And is that a reasonable price?) Or do we just give up on it, sell it, and get another used car? One of the mechanics at the shop wants to buy it, because he can do the engine work himself. What would be a fair price to sell it for? $2,000? More/less?
We’d appreciate any advice, thank you!!!
Seems like a lot of money to sink into a nearly 17-year-old vehicle. You could spend all that money on a rebuilt engine and then have the transmission crater on you.
Possibly a low-miles used engine from a RAV4 that was wrecked from behind would be more cost effective. but a used engine is always going to be a gamble. Most junkyards will give a warranty on them but if you're not doing the work yourself you'd still be on the hook for a substantial labor bill. So I'd only go that way if the shop sources the used engine themselves and gives a warranty on the engine and the entire job.
Check rebuilt engine prices at Powertrain Products, ATK and Jasper, to name a few. They come with warranties.
