Cars: Buy New Or Fix Old?

That's the question at The Truth About Cars: A reader asks should you fix up an otherwise decent 1999 Nissan Maxima? "At what dollar price point is it reasonable to keep spending money on repairs for a 10 yr old car, per year?"

Sajeev Mehta responds: "Rust issues notwithstanding, a well-maintained car on a well-engineered platform always beats a monthly payment on a comparable new car."

I would agree to the extent that your monthly outlay on repairs does not approach the payment on a new car. As we saw earlier, dealers are closing, new car inventories are at record highs and they will have to be sold. Look for even better bargains on new cars in the near future. If the old beater can be kept safe, hang on to it for another while. It seems to me that cheaper new cars are inevitable.