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…
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…