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

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[quote=Anonymous]I sympathize.  We have a 2006 Ford Escape Hybrid with almost 151K miles and the power steering went out.  The dealer told me that the power steering is an electronic component tied into the car computer and that it will cost $3300 to replace.  The cars only worth about $3800 (had it recently valued since it was in an accident caused by another driver and the insurance did not total the car, but told me the value).  But, we're about to purchase a second home this year (already in negotiations with the seller) and so don't want to put the money in.   So, I'm just dealing with lack of power steering for a few months until we can get a good deal on a replacement vehicle.

But this is the first time I've kept a car to 150K and 12 years (usually replace around 100-120K and 9-10 years).  So worth it.  Just hate the timing since we were planning on a new car next year.  If I were in your shoes, I would do the repairs and try to hold on another year and replace it next year with a CPO car with under 25K on it.[/quote]

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