Geez, it appears that I have to drive my car another 7 years. According to Consumer Reports, it says driving your car to death saves you $31k. Specifically the article says to keep your car 15 years or 225,000 miles of driving before it's considered a goner. I assume they mean it begins to cost more to repair the car than it's worth.
I was hoping to get rid of my car in another 3 years. Consumer Reports compared the cost of keeping a car for 15 years versus replacing the same car every 5 years. Of course the magazine does acknowledge that the car needs to be properly mainted to last that long. Another major factor in keeping a car for 15 years is the brand of car.
On their list of cars likely to make it to 200k miles are either a Honda or a Toyota. However the cars least likely to make it to 200k miles were mostly foreign european cars. I guess this means my corolla will run until it dies, but our ford focus could have trouble making it to 200k.
Well I'll never say I'm selling it or buying anything until it happens.