The days of buying new cars every 5 years are gone. Car payments >…

The days of buying new cars every 5 years are gone.
Car payments > Repair bills = (which is greater?)

Old Car: How to decide on repair vs. replace? | Ask MetaFilter

I drive a 1992 Toyota Camry with just over 203,000 miles on it. As far as I know, the car is in good mechanical condition except that the rear struts are in fairly desperate need of replacement. How do you calculate the payback period for repairing an old but paid-off car, and how might you use this…