This is Optimal Finance Daily. Your aging car. Repair or replace. Part 1 by Philip Taylor of PTMoney.com.

All frugal drivers will eventually reach the somewhat inevitable milestone. Old Faithful, the automobile

you've babied and maintained for the past 100,000 miles or more,

now requires expensive repairs just to keep it moving. Here's the question. Is it worth it to funnel

more money into your aging ride, or is it time to use that money to purchase a newer car? This is a

difficult decision with many factors to consider. Hopefully

fixing your car will give you several more safe years on the road, but this repair might just be

the tip of the iceberg among many other impending issues. When you have to decide whether it's

worth it to pay to keep your older vehicle running, there's no guarantee you'll choose

the best option financially. Ask yourself these key questions to help you decide whether to repair

or replace your older car. Number one, how safe and reliable is the car? Safety is a concern for all

drivers. If you're driving a much older car, over two decades old,

chances are you're spending a fair amount of money on repairs and maintenance. Auto safety standards

have come a long way in the past 20 years, so the older your vehicle, the more likely you'll

need to consider an upgrade. Keeping you and your family

safe is a high priority. Even if the safety standards are up to par, reliability can be a big

issue with older cars. Is your vehicles spending more time in the shop than in your driveway? In that

case, it may be time to find a newer car and save yourself the hassle and expense of frequent repairs.

Number two, how much will this repair cost?

Before you agree to any work done on your car, get an estimate in writing.

That will help you decide several things.

How you'll pay for the repair, how much more time you'll need to drive

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