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Dear advisor,

I have a 2001 Honda Civic. Since last year I have spent about $2,500 + on timing belt and water pump replacement, auto transmission replacement and another repair. Mileage is about 120,000 km. Should I keep the car for several more years, or is it better to sell it, just in case more repairs are needed? (I’m wondering if a 5-year old, low-mileage 1-litre replacement car costing $8,000 is more economical and makes better sense, as only 2 persons use the car).

Thanks.

Leo

Hi there,
I guess it comes down to two thoughts, and personal preference.
1, You have spent money on the Civic and now you would hope to get trouble free motoring. However it is 14 yrs old, and repairs could becomming more frequent.
2, New car will cost more initially, but you should get cheaper run with less possibility of repairs needed.
The newer car may be the more attractive option for you.

Thanks very much Cade, for your helpful advice.

Leo