Our 2002 Lexus IS200 has 250,000 km on the clock. It has been going really well with no problems whatsoever. We just had the timing belt changed last week and some other servicing done. Now, today we found the radiator has a split. The costs are tallying up to more than the car's value. I'd really love some guidance on how to decide whether to keep investing in maintaining an old car versus saying it's not worth it and buying a replacement car.
That’s a difficult call to make. The car has done quite a few kilometres and is in the twilight of its life. If it’s been properly serviced all its life to date and you continue to service it well you should be able to keep on top of any issues that crop up. But at the same you should anticipate that problems might occur more often now, and that will involve more expense. Looking forward you need to decide if you want to gamble on it giving little or no trouble, or get out of it. If you are not sure about it get out of it now.