kombat wrote:fiddlefaddle wrote:The car is almost 9 years old and every repair gets more expensive. How do I know when to replace it before I end up with a repair that's nearly as much as the car's worth? Any advice?
You answered your own question, in my opinion. I use the benchmark that when the repair costs more than the car is worth, it's time to replace the car. If the repair is less than the car's value, then I make the repair.
This gets complicated when repeated repairs start piling up in rapid succession, but in general, that's the rule I use.
The big problem is that when the car needs repair it is worth much less. The trick, in my opinion, is to replace the car BEFORE it needs an expensive repair.
That's one of the reasons I've convinced myself that somewhere around 6 years is a good time to think about selling and replacing.