Tow company damaged my transmission & say will buy my car for $500 it'd cost to repair it
I recently had my car towed for a locked back wheel. The tow company towed it
backward and damaged my transmission (since it is a front wheel drive).
Reverse does not work now. My car is a POS, not even in fair condition, but it is
all I have. The tow company said they admit fault and will either repair it or buy
it from me for the cost of the repair. They said it would be $500 out of their
pocket, either way. I have never heard of a transmission being repaired for that
small of an amount. Is there any circumstance in which this is possible? Is this
type of damage fixable without replacing the whole transmission or something?
Would maybe using salvage parts, or not having to pay labor costs or mark up
drop the price that much? My car isn't even worth the $500, but they did ruin it
and I deserve to know the actual value of the repair if I consider letting him buy
it instead. Please give me any info you can. I live in Iowa, if that matters
If the car is worth less than $500 take the money and run! Consider that your transmission was worth maybe $50 used. If you cannot afford to buy another car perhaps you should have them fix it.
F_O_R, thank you for responding. Though I appreciate your advice, it is my only car and I cannot afford a new one. I am trying to find out if he is quoting me a low value because, if I am right, he will be paying a lot more than $500 to have it fixed. If I can find out the actual cost, I can negotiate with him to save him money and increase the amount he gives me so I can get a semi-decent used car. So it is fair to both of us. Thanks