Replacing car dilemma. (When is it time to stop replacing)
I (26M) currently own a 2012 Toyota Camry with about 230000 miles. I’m currently been thinking about it is financially worth it to just replace with a new car. The work that has currently been done within 365 days with approximate pricing
1. Computer needed to be replaced. Between the misdiagnoses from Toyota along with the computer, the total spend was around $4000. ( new ignition coils, computer, oil valve, fees from diagnostic.)
2.New tires. Total spend around $900
3.New brakes, calipers and rotors around $2000
4.Replaced alternator and fixed oil leak around $2000 ( note that the alternator was a misdiagnosis and the car still has issues)
5.Most recent quote which hasn’t been paid is $1300 to $2000 for a new catalytic converter. Cars engine has been shutting off unexpectedly.
Estimated total:$10900
I have dumped a lot of money into this car and it feels like economically it might not be good to continue. My plan was to either fix the car by paying $2000 for the catalytic converter or buy a 2025 Camry and try to drive it for as long as possible.
I currently don’t have a lot of cash on hand but I do have and emergency fund and 100,000 in a taxable brokerage. If I did buy a new car, I would be selling out of stocks to pay cash.
Any recommendations and thoughts would be helpful.