What Will Rebuilding The Engine Do To My Resale Value
10-16-07, 05:56 PM
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What Will Rebuilding The Engine Do To My Resale Value
My engine is basically blown on my 2003 toyota matrix. The insurance is covering my mishap with a puddle. I will get 5-6k to fix the car (the cost of a new engine put in by the dealer 6-7k minus the 1000 dollar deductible). http://matrixowners.com/index.php?showtopic=70565
I plan on buying the the motor and having it installed by this place:
http://cgi.ebay.com/ebaymotors/Corol...QQcmdZViewItem
Right now my blue book with 92k is $9060.
So will this raise, lower, or have no affect on the value of the car? I pan on selling the car very very soon.
While the engine is being replaced should I have any other work done? Any pumps or stuff like that?
Please read updates
Update: I called the shop they will pick up the car, install the engine, and drop the car off for $2700. The parts and the block have a 1 year unlimited mile warranty.
Update 2: Cost of the new motor will be 7700(so 7700-1000=6700), but the insurance told the dealer that they may total the car. They might be doing this because both the bumers need to be replaced as wells as some interior panels. I was already going to sell the car so I had already bought all the replacement parts I needed to make the car like new again. The car needs about $1000 dollars worth of paint and new stereo stuff in order to be worth the KB value of $9060.
If they total the car how much do I get? Do I get blue book or do I get what the cars value as they see the car?
I plan on buying the the motor and having it installed by this place:
http://cgi.ebay.com/ebaymotors/Corol...QQcmdZViewItem
Right now my blue book with 92k is $9060.
So will this raise, lower, or have no affect on the value of the car? I pan on selling the car very very soon.
While the engine is being replaced should I have any other work done? Any pumps or stuff like that?
Please read updates
Update: I called the shop they will pick up the car, install the engine, and drop the car off for $2700. The parts and the block have a 1 year unlimited mile warranty.
Update 2: Cost of the new motor will be 7700(so 7700-1000=6700), but the insurance told the dealer that they may total the car. They might be doing this because both the bumers need to be replaced as wells as some interior panels. I was already going to sell the car so I had already bought all the replacement parts I needed to make the car like new again. The car needs about $1000 dollars worth of paint and new stereo stuff in order to be worth the KB value of $9060.
If they total the car how much do I get? Do I get blue book or do I get what the cars value as they see the car?
10-16-07, 07:19 PM
#3
Lexus Fanatic
I agree....in most cases, an engine alone shold not reflect resale value.
But.....if possible, try NOT to have the speedometer/odometer assembly replaced unless absolutely necessary. The odometer then starts back at zero, and, by law, a mileage sticker has to be placed in the door jamb. That WILL affect resale value.....especially trade-in value.
But.....if possible, try NOT to have the speedometer/odometer assembly replaced unless absolutely necessary. The odometer then starts back at zero, and, by law, a mileage sticker has to be placed in the door jamb. That WILL affect resale value.....especially trade-in value.
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