Installing a rebuilt transmission on an Accord - worth the risk?

[Never Again]

I have a 1998 Accord lx V6 that I have had since it had about 40,000 miles on it. At 203,000 miles it has developed a problem with the automatic transmission and the only way out is to install a rebuilt transmission.

Option 1 would be to buy another car and sell the Accord for scrap since its residual value with a bad transmission is close to zero.

Option 2 would be to spend the $3k to install the new transmission.

The car is otherwise in exceptional condition and very reliable and well maintained. On the one hand it would be well worth it to spend the $3k - if I could get at least another year and a half or so out of the car...but that is IF the "transplant" is successful and there are no problems.

I have never had such a major repair done, just wondering if anyone has an opinion as to the likely success of having it done properly. Or would I be better off just biting the bullet and replacing the car.

[San Onofre Guy]

This is a tough question. I had a 1989 Mazda pickup which at 239,000 miles developed blue smoke disease. I had the original transmission and rearend and really the only thing I had done was oil changes, tune ups, brakes, and tires and perhaps a thermostat. I decided that it wasn't worth a new engine. Don't let this be your guide as your milage may vary. I replaced it with an old Mercedes with 94,000 miles which cost $4,500. I now have 120,000 miles on the Mercedes. I think buying the old Mercedes was a better value than a rebuilt engine for the truck.