I am often asked this question and there really is no easy answer or hard and fast rule for when you should replace your vehicle. There are some important things you need to consider however before you make your decision.  One question I ask people is: “Do you like your car?” Obviously if you positively hate your car it will weigh far more heavily in your decision making as will if you really enjoy your current vehicle. The average age of the U.S. passenger fleet is at about 11.4 years. I won’t bore you with the math but if you consider how many newer vehicles are on the road, there are many vehicles in service today with over 20 years on them. Current figures for 2014 new car sales are coming in at 17.5 million vehicles. If you check with Consumer Reports and other financial publications on this topic most advise you to keep your vehicle at least 10 to 12 years.  If you are faced with a repair that is more than or equal to the current value of your car it does not necessitate getting rid of it.  Some factors to consider are: what kind of shape is the rest of the car in?  How much have I had to put into it lately? Will I be replacing it with a new car or just buying another used vehicle (which you may inherit more problems than you already have). Don’t figure routine maintenance items in your math, all cars will need oil changes, brakes, tires etc. Honda recently awarded an owner for achieving 1 million miles in a Honda Accord. The owner attributes the longevity to keeping strict adherence to the maintenance schedule.http://www.millionmilejoetour.com/ Have your repair facility do a thorough inspection on your vehicle and consult with them your best options before making your decision.

You can read a more in depth article on how to apply a mathematical equation to your decision making at: www.motormagazine.com