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New Engine or new car?

3K views 13 replies 11 participants last post by  BikeGeek 
#1 ·
I have a 2009 M3 automatic with 45,000 miles that sustained water damage to the engine during flooding recently. I have the option of getting a new engine put in it (would have to pay about $3500 due to betterment rule) or get $45,000 for it being considered totalled and could puchase a 2010 or 2011 with probably fewer miles. My current car has dual clutch transmission, cold weather package, moonroof, and is black/black.:p:)
 
#3 ·
I also would take the money. Flooding doesn't just damage a car's engine. Everything steel can rust and anything electronic can corrode as well. You'd be very likely to have further issues later on that insurance may not decide to cover.
 
#5 ·
Money and new one. Good luck and let us know how it worked out.
 
#6 ·
Agree with the previous responses, take the cash and buy a new one. If there is water damage to the engine what about the other components? Why take a chance.
 
#8 ·
Makes no difference, take the money and get shopping. While the repaired car may be as good as new, it will always carry that flood title which significantly impacts future resale. Take the $45k and another car...
 
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