How long are you planning on keeping your car?

[elessar78]

I think i read that the rule of thumb is that once the annual costs of repairs equal or exceed that of a year's worth of car payments, you should replace it.

Can anyone confirm this is the right formula to use?

Doesn't seem like a bad formula although you just have to weigh the scenario. Let's say the repair is 3K, can you get a better car than your repaired Honda Civic for that amount of money? You also have to assess the long term prognosis, will 3K be the last expense for awhile or will things start to break down annually?