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[quote=Anonymous][quote=Anonymous]Just looking for a pulse check (and no judgement please, I know I drive an old car!)

I have a 2010 Toyota Corolla. Fully paid off, relatively low mileage (130K) and I know these cars can run well into 200K. I'm looking at a ~$2000-3000 repair, and I sort of hate putting this amount of $$$$ into an old car. At the same time, I really like the car and it's nice having no car payment.

Buying a new car is not really a financial strain, but would have a low car payment (~$200 a month).

WWYD?

[/quote]
This goes to 12 years and you are three years past that. Your chances of a major repair keep increasing and maintenance also rise. 
https://caredge.com/toyota/corolla/maintenance

A 2010 Toyota Corolla has depreciated $1,062 or 18% in the last 3 years and has a current resale value of $4,587 and trade-in value of $3,334. So $2-3k of repair on a car worth $4.5k? Something else may break next week, next month or next year.

I would look at a new car, a 1-2 year old used car(really good values) or an EV lease(Hyundai is like $160 per month with $3-4 down for 2 or 3 years). Car technology has made some big leaps in the past 15 years.

The thing with an old car is one day it will not start or it will break down. Can you deal with that without major concerns and are okay unpredictable cost? Those unpredictable cost can cost more vs what the car is worth and hit a few months in a row. [/quote]

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