I have a 1998 Ford Escort. Paid £6,000 for it (by loan but now paid off) I wanted to keep it for at least two more years because the loan deal I had was so poor and I paid way over the odds once you add in interest . . .
Anyway, I'm not sure of the economics. I've just put it in for a service which also revealed that it needed a new wheel baring, two new tyres and a new brake drum . . . cost me £277 pounds sterling.
A quick look through my accounts show that, so far this year, I've spent £850. I expect that to be around the £1,000 mark by the end of the year.
Is that good/bad/average? I don't have a clue . . .
I think the car cost me about £8,000 (including interest) and I've had it since July 2001. Mileage is 115,000 miles.
Would anyone tell me if I should buy a new car or keep paying for the repairs on this one?
Thanks,
Rachael