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[quote=Anonymous]I understand that from a numbers perspective, it's never a better deal to get a new car if you have an old, safe one that you can still keep running. I currently have a 2001 model year car that fits into that category. I'm now getting into some very expensive repairs, and I'm wondering when you decide that sinking more money into the car is not wise, even if the repairs are less than buying a new car.

For example, in 2009 I put in about $750 in repairs. In 2010, $1500. In 2011, about $3500, which looks crazy -- but at that time, I knew I was going to have to pay a lot for something else going on in my life, and I definitely did not want to get into a situation where I'd be worrying about a car payment on top of those other expenses. I told myself that if I could get another year of useful life out of the car, then the really large expense would be worth it. I think that was a good decision based on those variables, because I've gotten more than a year of useful life out of it.

Recently, I was told that the car needs yet another $1,800 in new repairs. And I can pay that from my emergency fund, so it's not the money. But when do you know that it's okay to get something new, even if financially it doesn't look good on paper to do so?

I never just routinely trade in cars, FWIW. My goal is always to drive them for as long as possible. Complicating this for me is that the car gets really excellent mileage (diesel stick shift) and boy, I sure do hate to give that up, with fuel prices where they are. However, I'm not sure I want to get another diesel stick because it's hell in traffic.

Anyway,  I know that this tipping point is probably different for different people. Just trying to get some different perspectives. [/quote]

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