I have owned a’94 jeep Cherokee for 3 years. I recently paid 900. to fix the power steering, new gear box and pump. Two days later I paid for a fuel filter and engine cleaner. Now it has been diagnosed with transmission problems that has been estimated at 2000. I panicked! That is more than I pain for the vehicle initially! But the cost for another used vehicle…doesn’t look affordable. What is the ‘best’ choice here?
A '94 anything is now 15-16 years old. That means stuff is going to break. If you can’t handle repair bills, can you handle car payments on a much newer car? If the car is in decent shape fix it, but realize something else can go bad tomorrow. That is what you are dealing with in an old car. You have no car payments, but you will have down time and repair bills. Your choice.
I agree it is really tough to find a reliable car for $2K. This vehicle is 16 years old, so things can wear out without regard to mileage.
Your best bet is to repair the transmission. The power steering issue is a one time fix for most cars. Hopefully the trans repair is also. Make sure you are using a trustworthy (I prefer independent) transmission shop. Make sure you understand the warranty (labor and parts) you are getting and what repairs or trans replacement you are getting for your money.