I have 1998 Jeep Grand Cherokee that I love but it has 204,000 miles on it. Even though I haven’t spent much on it over the years, it does feel like it’s coming to the end of it’s life. I don’t want to put any real money into it but there’s a constant stream of $200-$300 repairs. When do I stop spending money on it and just retire her? Connie
Connie I feel the love, I also am a dedicated Jeep lover (as are
many of you out there), I’m on #5 right now. I also struggle with
when to sell my Jeep and buy a newer one . The obvious answer
to that question is, WHEN YOU CAN AFFORD ONE.
If you haven’t guessed by now, I am a very practical person and
not a very sentimental one. I’m not one of those people who names
my cars or holds onto them because they have some meaning to me.
They are tools to be used to get me from one place to another, period.
To me a newer Jeep is better than an older one. My advice is to do the
math. If the amount of money you are spending on your car is starting to
equal what you could spend on a newer one (don’t forget to factor
in the amount you will gain by selling the old one), my advice would
be to get a newer one. If you are so in love with your car that you
can’t give it up (believe me there are plenty of you out there) then
by all means, dump all your life savings into it, but don’t come crying
to me when you’re broken down on the side of the road without a dime
to your name.
Oh and if you have a classic car then ignore all of the above. Go ahead and
dump some money into that, up to a point, we need to preserve as many of those