I have a 2006 toyota rav4 with 118000 miles that needs a new engine. How .uch is it worth?
The Market value in good condition is about $6500.. minus $4200 for a rebuilt engine leaves about $2300. The the buyer has to go to the hassle of having the engine (2.4L) installed, so minus another $1000 and because the potential buyer can not test drive it, so it's worth maybe $1300 or so. Tops. If somebody offers you $1k take it. But what happened to your engine? That 2.4 in a Rav4 is a reliable, durable engine that with good maintenance will go 250,000 miles easily.
The engine was consuming the oil without the indicator light coming on. Right after the engine went Toyota sent out a consumer letter saying there was an issue with some models with excessive oil consumption. I had to bring in the car to be tested. But the car wasn't drivable. They then requested maintenance records over the 9 years of ownership. I had the first few years but later started taking the car to my regular mechanic for tuneup and oil changes. Therefore, I did not qualify for their recall/fix.
Ouch! Bummer! Yup, a minority of those 2.4's had that problem. I feel for you man. But I have to stand behind those numbers, I did not arbitrarily pick them from the air, I looked them up. The sensitive part is when you take it in for a so-called test, all they do is check and fill oil to proper level and tell you come back in 500 miles and then they pull the dipstick, like anybody can do, and see if it has consumed more than it should. I mean ANY oil. It should not have. My Corolla, (The Rav4 is a Corolla crossover), consumes about ½ quart in 8000 miles between changes. Some people flat don't believe that, but it's a fact.
I have the same problem with my 2006 rav4.... I took it all the way to corporate because I never received a letter and missed the cutoff date by 28 days. I'm appalled with Toyota's response to say the least and my rav4 is just sitting in my driveway and I'm not sure what to do with it.