Reply to 12 year old car needs $1500 repair; what to do?

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[quote=Anonymous]We have a 2006 Volvo XC 90; engine mounts are shot, I’m told by trusted mechanic, and I’m not sure what to do. Repair will be between $1200 and $1700, depending on what they find when they get in (again, I trust these guys).  AC needs a Freon fill up, but that’s no big deal.

I like the car, actually; it’s bells and whistles don’t really work (the sunroof won’t work, and annoyingly the cd exchange makes a loud sound for 20 second when you turn it on). But under the hood it’s been well maintained. It’s got some dings on the body. It’s at 153,000 miles.

Husband hates the car - hates the dings and the stuff that doesn’t work; wants new car. I’m the primary driver.

We are not currently in a financially super stable place - husband is building a business. I think it’ll fly, and in a year we’ll be better off, but things are pretty lean right now, and a new (or new to us) car I assume will be about $500 a month. That would reduce our retirement savings (I’m 40, we have $275k saved; currently put in 30k in employer account - includes our contributions and employer match - and we’re currently putting 11k/year into two Roth’s. Feel good about that, but behind on college savings for kids (8, 5, 1) which is only at $22k).

On the one hand, this car is old enough that more can go wrong fast. On the other hand, for the price of 3 months of car payments, I could get another couple years out of my dear Volvo.

Thoughts? Thanks.

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