Transmission went out today- evaluating options

[ahawkchick]

So today the transmission went out on our 2004 Honda pilot (I know, facepunch).  The dealership quoted $6000 to fix.  Um, no thank you.  We are going to see if we can get any quotes closer to $3000, and then we may consider fixing it.

The other option is get a new(to us) car.  We need a vehicle with at least 1200 towing capacity for our pop up camper.  Thinking about a 2013 Honda CRV or  Mazda CX-5.  I'm hoping with trade in(of the pilot with bad transmission) to have to spend less than 16,000.

My question comes to that of financing...
Currently, we have no cash sitting around.  However, we have a little over 110k in a taxable investment account from my ESPP purchases over the years.  Do I take money out of this to pay for the car?  Our do I finance it?  If we finance it, we could have it paid off before the end of 2016.

The stock from my ESPP is currently trading close to its 52 week low and I anticipate it's likly to go up in the nearish future.

I'm curious to see what you all think.

[MiltonLee]

I feel your pain. Our 2003 Pilot (vehicle was given to us!!) is with a trusted local transmission shop right now getting a remanufactured transmission. Cost for the new tranny and labor will be $3400.00 (plus a 3yr/50k warranty). Definitely shop around and steer clear of the dealership. We're keeping ours because other than the transmission, its in great shape.

[Exflyboy]

If you could get a rebuilt transmission is there any way you could do it yourselves?

[Exflyboy]

I'm surprised you can get a new tranny and labour for $3500.. I found this used one on a real fast google search.. $1500 Used.. Holy crap, what are these things made of?.. Gold?

http://www.purzauto.com/PartDetails.aspx?sku=3346968&MakeModelID=472&utm_source=google&utm_medium=googlebase&utm_campaign=shopping&source=gmc&gclid=CK_65af4qckCFU1cfgodiXoNoA

[Exflyboy]

I just noticed there was a transmission recall on the 03 Pilots... Might be worth checking, heck you might get a free transmission out of it..:)

http://www.piloteers.org/forums/69-2003-2008-pilot/34618-transmission-recall-all-2003-a.html

[MountainFlower]

The transmission replacement on my 2002 Acura MDX (basically the same as your pilot) was $4500 in high rent Boulder, CO.  That was about 45,000 miles ago, so money well spent!  I'd say fix the transmission and keep on going with the Pilot. 

[Jack]

This is why everyone should learn to drive stick: manual transmissions are much cheaper (and also fail less often).

[Stash Engineer]

Stay away from the Mazda CX-5.  I've had 2 friends buy them, both had issues and traded them in.

[Exflyboy]

This is why everyone should learn to drive stick: manual transmissions are much cheaper (and also fail less often).

Agreed.. Being a European I have an in-born hatred (or a deep suspicion) of automatic transmissions. When I bought my $350 Dodge Neon I put a complete set of new syncro cones in the tranny for $100.. Good as new!

But that doesn't help the OP sadly..:)