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I have a 2013 Sonata that leaks a lot of oil and has an engine I am told is in the beginning stages of going out. It is a known issue for this car where in some cases the manufacturer has had to replace the engines, but I'm outside the warranty and am a secondary owner. Car is worth about 3k and a new engine would cost that much or more. A new (used) car would cost me 23-30k. Issue is I wouldn't feel right selling it to someone with an engine that will go out soon. What are my best options here? Replace the engine? Trade it in and buy a newer car?
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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Originally Posted by Berteau
I have a 2013 Sonata that leaks a lot of oil and has an engine I am told is in the beginning stages of going out. It is a known issue for this car where in some cases the manufacturer has had to replace the engines, but I'm outside the warranty and am a secondary owner. Car is worth about 3k and a new engine would cost that much or more. A new (used) car would cost me 23-30k. Issue is I wouldn't feel right selling it to someone with an engine that will go out soon. What are my best options here? Replace the engine? Trade it in and buy a newer car?
Yes, this, even if the amount is just covering tax and license. I also would feel guilty and would never sell a car privately if it has any hidden defects or know mechanical issues. When you trade it in it's a gamble. The dealer will start with blue book then deduct for anything they find wrong with it, but there is a chance of missing something big. You don't feel guilty because it's their own fault for not being thorough. In most cases of an older inexpensive car they will not sell it anyway, they will just send it to auction.
Your other option is to donate it to charity, but with the value being so low your tax deduction might not be more than your trade, and it's a deduction, not a credit.
Oil leaks are one thing. ”In the beginning stages of going out” is a meaningless statement.
Typically, auto engine wear-out is governed by the rings and the bearings. Are you hearing a lot of hammering sounds from the engine? Main bearings are a heavier deeper sound, rod bearings lighter and sometimes a double-tap sound. Is the engine burning a lot of oil, or just leaking? Oil burning can be from worn out rings, carboned-up rings, scored cylinder walls, or valve seals. The first and third are full overhaul issues, the second and fourth are repair items.
Of course there are wear-out failures of all the ancillary components - water pump, oil pump, timing belt-chain, camshaft, lifters, rocker arms (if present), alternators, etc. All these are repair items.
Oil leaks can be tiresome to fix, but they are NOT an indicator of an engine approaching end-of-life, not if you do the big boy thing and regularly check your oil and top it off.
If you DO have actual engine end-of-life issues (of which I am NOT convinced), what's the rest of the thing like? If you're in Minnesota and it's full of terminal cancer rust, then you're probably better off retiring it. If the rest of the car is sound (solid body, trans, diff, brakes all good, plastic parts still pliable, interior still in good nick), then even a long block for 2k or 3k is likely to be a good choice.
Keep in mind, too, that if you've got it paid off (you DO, don't you?) then you don't have to carry any insurance but liability, and your car taxes, registration, etc. will all be cheaper than if you borrow money to get a new(er) one.
Your other option is to donate it to charity, but with the value being so low your tax deduction might not be more than your trade, and it's a deduction, not a credit.
There are special tax rules for determining the value of a donated car. If the charity uses the car or sells to a needy person, you can deduct the fair market value. If the charity auctions the car, as most do, you can only deduct the amount received from the auction.
I have to agree with the poster about the going out part. Your car is just aged, and not "going out". Unsure about Hyundai but Kia has recall on pretty much most of their engines for replacement.
Older cars leak, gaskets and rubbers dry out and change shape with use and even weather changes. As long as your car engine isn't prone to engineering failure, engines should last forever as long as their maintenance on them and their surrounding parts. The parts to fix gaskets literally costs pennies, but its the labor to do the work. Maybe have a professional that you trust look at your car, he might say its not worth fixing and to just drive with a small leak (all cars leak oil by the way).
If the rest of the car runs okay then for only $3k you have a car with a brand new engine. That can be better than a $23k used car that you don't know the whole history of or when the next thing will break on it. I would spend the $3k now and drive it while saving for your next car.
I have never understood why people say "The engine is bad, but the car is only worth $3,000, so I am not going to spend $3,000 for a new engine". If the engine is the only issue, it is far cheaper to put in a new one than to spend 10 or 15 times as much for an entire new car.
I never worry about the resale value of my cars, and look at repairs as costing X months of new car payments, so if I get more than X months out of the repair, I am ahead overall.
*edit* never mind. You're over 10 years now. That's a tough call. You could put a used engine in it, but still likely to end up with the same problem. I had a 2012 Sonata and sold it when this issue started coming out. I'm not sure if I'd ever buy another Hyundai or Kia.
I have a 2013 Sonata that leaks a lot of oil and has an engine I am told is in the beginning stages of going out. It is a known issue for this car where in some cases the manufacturer has had to replace the engines, but I'm outside the warranty and am a secondary owner. Car is worth about 3k and a new engine would cost that much or more. A new (used) car would cost me 23-30k. Issue is I wouldn't feel right selling it to someone with an engine that will go out soon. What are my best options here? Replace the engine? Trade it in and buy a newer car?
Have you inquired about getting a used (new to you) engine, or a rebuilt engine?
You can also buy a used car for much less than 23k. Especially now that dealer lots are overflowing. If your standard for your current vehicle is merely that it has to run, why would you set dramatically higher standards for a vehicle you would consider buying? Personally, when I buy a vehicle, I usually am only looking to go a few years younger and 40k-50k miles less than what I already have. Having a used car for 3-5 years is a decent sweet spot where you aren't paying too much in sales taxes or markups but also are not being eaten alive by depreciation.
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