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Volvo XC90 - hold or sell?

I have a 2005 Volvo XC90 T6, with a almost 108k miles.

This model has a history of transmission failure, and indeed my car had its first transmission replaced at 60k, when it was still under warranty. I was told this would have been about $7,000 if I’d had to pay for it myself.

I still owe about $7,000 on the car, but I think I could be all paid off in about 6 months. By this time I would probably be at about 120k miles.

I estimate the trade in value to be about $8,000-10,000, and I really want to pay this car off fully before looking for a replacement, but if the transmission goes again, I’m going to be stuck with it a while long before everything is paid for.

Is it time to bail on this car while I still can?

Bail while it still runs. I had to do this with a 95 Dodge Intrepid that could not keep a tranny in it. Went Camry and never looked back.

You owe $7K on a six year old car? Dude, are you nuts?

The original tranny lasted 60K. What does that tell you about the replacement tranny?

I’d sell this pig ASAP, before another problem crops up. You’re already on borrowed time.

How can you owe $7K on a 2005?

The kbb value of the vehicle with 108k miles and in fair condition is over $10,000. At least the OP isn’t upside down, which is more than many people can say.

As you’ve seen already, that “safe” Volvo is expensive to keep going when something breaks. Time to trade it in, especially if you’re worried about the reliability of the vehicle right now.

Mazda CX-7(this is what I drive now and love it)
Ford Escape
Toyota Rav4
Hyundai Tuscon
Hyundai Santa Fe

Sell it now. Sell it yourself so you can make more money, rather than take a dealer trade in amount which is a lot lower.

Check with your bank or finance company on how you can obtain the documents needed for a private sale. In some states you have the title with the lender as a lien holder and in other states the title goes directly to the the lien holder. You can sell the vehicle privately you just need to know how to handle the paperwork quickly and properly to complete the transaction.

In any event don’t hold onto the car. These Volvo’s are subject to very frequent and very expensive repairs as they age. Clean it, polish it, sell it.