Mechanic buddy of mine summed it up well.
You can pay to fix an older car, or make payments on a newer car. Sometimes..you can do both!
Reality is.. ....what year is it? What are you asking from it?
I bought a 9 year old car (2000 Regal) for $1400. On deck was fresh suspension, wheel bearings, brakes, radio, oil pan (for gasket), engine mounts etc etc. In the three years I've had it, I refreshed the trans and swapped the engine. My total cost in is ~$5K. Most of that because I did a lot of "extras" because I wanted those features.
My costs to date: ~9 cents a mile or $138 per month, not counting gas/oil. That's not too bad when you think about a new car payment.
