Time for new? or should I put money into current?

I have a 2003 Accord V6 EX-L with a little over 220k miles on it. It is due for new tires, water pump and 2 of the engine mounts are cracked. Parts/labor would probably cost me around $1500+. What is
a fair price to have the water pump and engine mounts replaced? I am in Philadelphia area. It still runs well, but wondering if other things will start to go on it. Should I save the $1500+ and use the car as trade-in on another car, or should I try to squeeze a little more life out of her?
Any thoughts?
Thanks
George
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2-door or 4-door? Auto or manual transmission? 5-speed or 6-speed?
Check the private party price of this car at www.kbb.com . I would say your Accord is in "fair condition." A few assumptions suggest it is worth around $5k "as is" in Philadelphia. Could $6500k buy a comparable car? Maybe, the catch is it would be used and you would not know its history well.
The only reason fixing everything would not be worth it is if you just like to drive a new car. If this is the case, the heck with money. Trade it in.
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4-dr, automatic,5 speed
On Mon, 8 Nov 2010 20:23:40 -0800 (PST), Elle

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On Tue, 09 Nov 2010 05:40:22 -0500, George Gonzola

I asked the same question a few weeks back about my 91 Accord with 120k. It needs, at least, tires, the major service (must be at least $500), and a paint/rust job. But that's all that I know for sure that it needs and it seems to run fine.
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wrote:

How about the timing belt? 105k or 7 years interval, I believe....
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$5K seems quite high via Edmonds estimate - about half that is more likely. http://www.edmunds.com/tmv/used/index.html
Nevertheless, water pump and timing belt could run about $800 at a dealer. Add in another $100 for plugs plus a likely needed tuneup with fluid changes and the cost climbs rapidly. Are the brakes decent? That could add as much as another $500, depending on rotors & pads. If there is any doubt about the transmission, I'd cut my losses. If the transmission is running well, the decision gets more difficult.
Any trade you'd get on such a car would likely be the discount you'd get with no trade.
I'll be facing a similar situation in about a year where my 2000 V6 EX Accord currently has about 194k miles, but in my case, the battery, brakes, fluids & tires should be good for another 50-60k, having made a $3k maintenance investment at about 185k miles.
For me, I can justify a lot of repairs to offset the sales tax and property tax on a (newer) replacement vehicle (plus added insurance if going for a late model).
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I should have added that even with the relatively big $3k investment at 185k, my cost has been about 17 cents / mile plus gas (about 28.5 mpg overall), property taxes & insurance (including full depreciation). Needless to say, I've been VERY pleased with that vehicle.
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I am aware that Edmunds gives much different numbers for used car values. However Kelley Blue Book is the standard. Ask around. See also http://www.kbb.com/car-advice/articles/what-are-kelley-blue-book-values
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On Mon, 08 Nov 2010 20:16:22 -0500, George Gonzola

This is a great site to help you:
http://repairpal.com /
Takes the surprise out of repair visits.
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in today's economy,it's not wise to go into debt to buy a new car; repair your 03. Have a mechanic go over the car thoroughly.
--
Jim Yanik
jyanik
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