Is it time to retire my truck?
So I bought a 1996 explorer a few years ago for about $5,000 from a friend. It came with tons of records, and has been a really good truck for the years I've had it.
Fast forward to now, I've put in around $800 in tires, $700 in a new fuel pump, and it now needs $250 in windshield and $?? in rear brakes/callipers. It also has a bit of rust starting to annoy me on the driver side door.
I'm wondering, at what time would you retire a beast like this? At some point you have to ask, when will the cost of repairing overtake the value of the vehicle, and that's what I'm trying to determine.
I can finance a new car or take out a loan of sorts, but I owe nothing on the explorer, and I don't want to spend over about $12,000.
Does anyone know what ballpark of cost I can expect for the brake work? What are the collective thoughts of the CP brain trust on this issue?
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