JetSetGo

My 2007 ES350 was running fine with no issues. 140K. All of a sudden on the highway the cruise control disengaged, the RPM spiked to 8k (but no change in sound/handling), and the power steering failed. I coasted to an exit. Shutdown and restarted to see if that would help. Had a check VSC light and check engine light. Tried driving but it would only shift with great difficulty. I initially thought it was a power belt and it was in limp mode, but a local mechanic (whom I do not know or trust but was the only place to tow it to) said it needs a new transmission and would be $8k, which exceeds the value of the car. There is no reverse, and when I drove it to its final resting place before the tow, it would shift very erratically and not above 3rd gear, even in sport manual mode. How likely is it that the whole transmission needs to be replaced vs another issue? Does limp mode have reverse? After I said I would sell the car for scrap, the mechanic said they would pay me $300 for it and indicated they would work on it more and then sell it as a functional car. Am I getting hoodwinked?

tolian21

$8k for a transmission, which I assume will be some rebuild they will order (unless they do rebuild themselves) is a very high price considering its not a Lexus dealer. You can shop around in transmission specialized places and likely can get it rebuilt for 4-5k. Definitely seek second opinion and estimate from a reputable transmission specialized location

JetSetGo

Do you think a new transmission is the right fix, or could it be something else?

Clutchless

It is the transmission. They are known to fail at around this mileage, especially if running on the original fluid.
If you decide to keep the vehicle you need another opinion and to find a shop that will put a used transmission into it. A used transmission wil be your least expensive option and makes the most sense on a 16 year old vehicle. I would only consider that or sellng it for junk.

I would not spend the money for a rebuilt or new transmission. $8000 is better spent toward a newer replacement vehicle.

You are likely to face other expensive repairs and maintenance to the engine and suspension in the next few years. Do you want to keep investing in this aging high mileage vehicle or try to find something newer that will be less of a headache to own and provide fewer surprises of stuff to fix.
If you need help finding a good shop near you use this database to find shops recommended by listeners of the NPR Car Talk car repair radio show. https://www.cartalk.com/mechanics-files

spaceballs

Is this the lesser known bearing failure issue?

Clutchless

Could be, or could be any number of common failure points such as solenoids, etc. Bottom line is that the transmission is no longer working.

tolian21

Bottom line is that you need a good transmission specialist shop that can explain you different choices for you to make, you can then decide what to do. If you dont know anything about this shop than you should definitely not use them, they might be trying to take advantage of you because you are in a bad situation

JetSetGo

Thank you so much everyone for your messages and advice! I'm going to take it to a 2nd shop on Monday. I really appreciate your expertise and recommendations!