After an engine replacement, transmission repair is frequently the second most expensive repair on a car. Transmission replacement costs vary greatly, but on average, it costs between $3,000 and $6,000. It makes sense to consider if such a large repair expense is warranted.
But how has COVID-19, its impact on the global supply chain, the availability of new vehicles, and the cost of used vehicles influenced the decision to fix a transmission?
Is It Necessary to Replace a Transmission?
These supply chain difficulties have affected the car industry particularly hard. Because of semiconductor shortages, GM’s CFO predicted that third-quarter 2021 wholesale car deliveries will be down 200,000 vehicles. Those looking to buy F150 pickups experienced delays with the trucks awaiting semiconductor products before being supplied to retailers. This is a recurring trend among many large automakers, and it eventually limits the quantity of new vehicles available at a consumer’s local dealer.
Pricing for Used Vehicles
Where do consumers in need of a new vehicle turn if new vehicle selections are limited? The secondhand market. In 2021 and 2022, the used automobile, truck, and SUV industry has been booming. The used car market has an effect on overall inflation in the economy. Inflationary pressures mean that a dollar’s purchasing power is eroding as prices rise.
So, how does this relate to transmission repair?
Repairing a transmission is a better option than purchasing a new vehicle.
In 2022, customers considering replacing or repairing a transmission will face a new set of circumstances. Either they repair the transmission or they look for another vehicle. While new vehicle availability is restricted, not to mention their exorbitant pricing, used vehicles look to be less of a good value investment than they were a few years ago. Furthermore, there are unknown repairs with used automobiles, which could be the reason a previous owner decided to sell it in the first place. No one wants to find out after declining a transmission repair that they have yet another list of possibly costly repairs to complete on their new vehicle.
The Importance of a Reliable Local Transmission Shop
Before needing to select between a new vehicle or a transmission replacement, consumers can make some excellent decisions. Regular car maintenance reduces the chances of major and minor systems of a vehicle failing prematurely. Periodic service, beginning when the vehicle has little miles, is a desirable habit to get into, and it is recommended that this task be delegated to a local transmission shop. We are highly experienced with transmission maintenance here at Quality Star Imports & Domestic.
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