On Jul 6, 9:36 am, Douglas Johnson <p...@c...com> wrote:
> Mark Bole <m...@p...net> wrote:
> >Let's not go to extremes.  Unless you are on financial life support, buy
> >a newer used car when the annual cost of repairs to the old car exceeds
> >50% or more of the car's resale value.  And don't forget to drop
> >collision insurance well before that time.
>
> Let me suggest that the resale value of the car is relevant only if you are
> going to resell it.  If you are going to keep driving it, then the issue is the
> cost of repairs vs. the net cost of buying another car.

If your car is totaled, the insurance will only pay approximately the
resale value. Collision insurance is reduced for older cars, so it
makes sense to keep it.

--
Ron

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