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I am looking for advice about the future of our '98 V70 (base: 253K miles). We bought the car in January of '14 and have put about 54K miles on it in that time. It is our third car, and we do not drive much. Immediate need is a sticking rear caliper, which was recently replaced (twice in last three years). I have replaced front wheel bearings, radiator, exhaust system, and heater core (and headliner) all within last 25K mile/4 years. AC seems to work well, as do engine and transmission. Body is a little rough, but not much rust. It has sets of mounted studded snow tires and mounted all-season tires, both with plenty of life left.
To pass inspection, it needs fuel tank straps, brakes and rotors all around, a front tie rod end, and at least one caliper. Total about $900, but less if I can do some myself (I can do the brakes (not caliper) and am not sure about the fuel tank straps--is that a DIY job?).
I have not tested the waters, but I don't know that I could get more than about $1000 if I were to try to sell it, and maybe a little more if I were to have the work done and then sell it, so I am stuck: do I fix it and keep it, knowing that any money I put into it at this point will not really increase the value of the car, or do I retire it, sell it for what I can (of course informing any buyer what it needs)?
What would you do? It has been a good car. Trying not to let emotions cloud judgement.
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