In a bid to save some bucks, you may consider getting a new engine instead of buying a new car. On the other hand, if you’re planning to sell your car, apparently, a high mileage engine would reduce the value of the car.
Hence, some drivers may consider replacing the old engine with a new one in a bid to increase the car’s value.
But, in an actual sense, does a new engine add value to a car? A brand new engine with very low or no mileage can make a used car more attractive to buyers. No one would prefer to buy a used car with high mileage than a used car with low or no mileage.
However, it’s not only the engine that makes a car valuable; there are pretty other components that buyers may check before deciding to buy a used car at the price tag.
Does a New Engine Add Value To a Car?
There are quite many factors that determine the value of a car, and the engine is one of those factors. That said, just the engine alone is not enough to increase the value of a car. Some used car buyers would question why a used car got an engine replacement.
If the engine was replaced due to the previous driver’s rough driving style, then other crucial parts of the car are questionable to be in good shape.
Read Also: Can You Buy a Car With Zero Miles?
Again, if the engine got replaced because the old one has high mileage, some other important components might be wearing off due to the high mileage.
However, all these things notwithstanding, no one would want to buy a used car with an engine that seems too old and weak.
So, installing a new engine (either a rebuilt engine with fewer miles or a reman engine) would make the car a little more valuable than it would be if you left the old engine.
The most important thing a car buyer checks is if the car runs smoothly, and of course, a new engine can guarantee that smooth performance.
What Can Increase Car Value?
Among the most important factors that determine the value of used cars include the age of the car, number of miles, accessories, appearance, and the paper documents (the papers must be legal and legitimate).
Practically, a 2006 Chevy with a rebuilt engine is still a 15-year-old-car in 2021, and a lot of its components are liable to be weak and almost failing. So, with this example, we can see that the age of a car seems to play a more vital role than the state of the engine.
Read Also: Should I Buy A Car With 150k Miles?
When You Should Consider To Change Your Engine?
Replacing your engine for a new one would save you more money than buying a new car; that is if you still love your old car but want to see it running like it’s a brand new one.
If you’re looking at increasing your car’s value for a resale, changing the engine can only increase the value a little bit.
Conclusively, replacing your engine would significantly improve how your car moves but won’t skyrocket the value.
Let’s say your car is valued at $5,000 with an old engine, replacing the engine won’t take it up to $7,000 or higher, but it can possibly push the price to something around $5,500.