I bought a 1994 Toyota Camry with 60k miles off an old family friend over the summer. Older lady, drove the car a few hundred miles a year and had no problems at all. I bought it for $1200. In the last 6 months I’ve put around 2 grand into repairs, many of them standard especially for an old car that hasn’t been run all that much.
I’m at the point where it feels like I’m putting 400 into this vehicle every other month,
new alternator, and serpentine belt. Transmission flush. New control arms. New battery. New spark plug, and wires (full tune up because it wouldn’t start) Lots of $40-$50 misc parts that just gave out. New exhaust (old one had a few holes and wouldn’t pass inspection)
I’m not very knowledgeable about cars whatsoever, not sure if it’s worth keeping up with these repairs, I feel like they have to slow down eventually. I’ve repaired or replaced what feels like every part of this car (I’m being a tad sarcastic)
At what point should I throw in the towel here, is it worth keeping up with these repairs hoping they eventually slow down. Or should I just quit while I’m ahead
No point in adding up what you’ve spent already, it’s a sunk cost. Instead, each time you are about to incur a new expense, ask yourself what comparable car you would get if you spent what you’re about to in repairs on that instead. If you’re looking at a $5K engine rebuild, maybe you can find something more reliable for $5K on the open market. But $400? No chance.
Alternatively, consider what your Camry is worth before and after the repair. If a $400 repair means you can sell it for $2K instead of $500, its a safe bet whether you decide to keep the car or not. But again, a $5K engine? Maybe not.
And honestly, a lot of the things you’re naming now you’ll be dealing with unless you buy new. So if that isn’t an option…