We have a 2007 Honda Pilot with 220,000 miles on it. It's been costing us a chunk lately to keep it running for our daughter. We spent $3000 in the past 9 months to replace parts that don't fail often (radiator, power steering pump), but also for routine work (new brakes). The blue book value is around $1000. I've wondered if we kept it too long. But, buying a used or new car isn't cheap either. Since we took care of the Pilot for all those years, we know that it's been kept up. I'm hoping that the unusual replacements are over at least for a while and that she'll get at least a couple of more years out of it.
I started reading your columns in the WSJ about 30 years ago. Thanks to the wisdom you shared, my family and I are financially secure and I can retire at 57. Thank you for making the world a better place.
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We have a 2007 Honda Pilot with 220,000 miles on it. It's been costing us a chunk lately to keep it running for our daughter. We spent $3000 in the past 9 months to replace parts that don't fail often (radiator, power steering pump), but also for routine work (new brakes). The blue book value is around $1000. I've wondered if we kept it too long. But, buying a used or new car isn't cheap either. Since we took care of the Pilot for all those years, we know that it's been kept up. I'm hoping that the unusual replacements are over at least for a while and that she'll get at least a couple of more years out of it.
Post: How have you decided when it’s worth it to fix an old car?
Link to comment from May 24, 2025
I started reading your columns in the WSJ about 30 years ago. Thanks to the wisdom you shared, my family and I are financially secure and I can retire at 57. Thank you for making the world a better place.
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Link to comment from December 21, 2024
If trusts can be used to avoid estate taxes, why do estate taxes matter? Can't most people simply avoid them using trusts? Thanks!
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Link to comment from September 20, 2023