My 2003 Camry has 186,000 miles and plenty of cosmetic issues, but it has been incredibly reliable for 21 years. It needs some repairs—like reattaching a bumper end and some general maintenance (brake pads, belts, etc.).
At what point would you stop putting money into it and just get another car? How much would you spend before calling it quits?
You’ll probably spend $1,000–2,000 a year keeping it in good shape, which is nothing compared to what new cars cost, especially with high interest rates.
AloisSpewer said:
You’ll probably spend $1,000–2,000 a year keeping it in good shape, which is nothing compared to what new cars cost, especially with high interest rates.
Exactly. Paying $1–2k a year for maintenance is way better than spending $6k a year on a new car loan, just to eventually be back at the same maintenance costs.
Tanaka said: @Baer
New cars are loaded with tech, and repair costs are only going up.
Yeah, every year it’s another sensor replacement. That alone can add up to $1–2k.
And if you take it somewhere that doesn’t know what they’re doing, you’ll be stuck paying even more. Also, newer cars have so many computers and screens—who wants to pay thousands when those start failing?
Older cars are easier to work on yourself, which helps keep maintenance costs down.
If you want to keep the car, spend what’s necessary at a good shop. There’s no set ‘max’—it depends on what you’re comfortable with. The repairs you listed sound like normal wear and tear, so if everything else is solid, it’s probably worth keeping.
Check junkyards for matching color parts. Pick-n-Pull has sales where you can get a bumper, hood, or doors for $60 each. Even at regular prices, it’s not much more.
If the car is still running strong, I’d focus on the mechanical stuff and ignore cosmetics for now. If it keeps breaking down, then it might be time to move on.
For me, it wasn’t about the cost but when major components started failing back-to-back. I had to decide between spending thousands to rebuild the suspension on a car with 225,000 miles or buying a used car with under 100k miles for $8–10k. I went with the newer one, but I get why people hold onto their old cars.
I have an ‘06 that I bought for $4k two years ago. In December, I spent $5k replacing the engine. Sounds crazy, but with used car prices and how reliable these are, it made sense. The old block warped after a head gasket failure on the highway, but now I’ve got a low-mileage engine and should get several more years out of it.
186k miles? That thing’s got plenty of life left. My 2004 is at 270k and still going strong. If the bumper is beyond repair, getting a new one painted will run around $1,000. Everything else, like belts and brakes, is pretty cheap if you do it yourself.
Edit: I do have a soft spot for this car, but I’m not just keeping it for sentimental reasons. I like the idea of getting something newer, maybe an electric car. A lightly used one would cost around $20k after rebates. But it’s hard to believe anything will be as reliable as this Camry has been. Does it make sense to spend $2,500 on a car that’s maybe worth $1,000 just to keep it running for who knows how long?
@Tanisha
Yes, it makes sense. Forget resale value—if you’re not planning to sell, then the car is worth whatever it’s worth to you. I’d put in up to $4,000 before I gave up on it.
@Tanisha
One thing to consider is your age and future income. If you keep repairing this car and it lasts another 70,000 miles, where will you be financially when it finally dies? If you wait too long, you might end up needing a new car at a time when money is tighter. Maybe now is the best time to switch.