I put $500 worth of labor and parts into my car today. It's a 2001 Saturn L200 with 80400 miles on it. Then I learned that it needs over $3000 more of labor and parts to keep it on the road. Do I fix it? Or trade it. The book value of the car is $4500 on a good day, and in its present condition (needing all of that work) it's perhaps worth 2500.
Thoughts, anyone?