I have a 2009 Honda Fit I've owned for almost 7 years. Put a lot of work into it. Last thing I did was change the front struts, a few months prior the rear shocks. The list goes on and on. The car is rusting out thanks to our winter road salt, so I know my time is limited. Trying to save for a car, but they are so expensive.

From my perspective though unless something catastrophic happens the repair costs I'm paying is nothing compared to buying a new car cause I do the work myself. A new CR-V is close to $40,000 once you factor in tax and title. My struts were $154 and my shocks $108. Changed the starter also last year, that was $100 plus a $50 for a new positive battery cable (it has special fuses on it). These costs are nothing. Really it is the effort and hard work that annoys me more. Putting effort into an old car is not at all rewarding for a daily commuter. It isn't a project car.

So don't get a loan. Keep saving money and wait until your car runs into the ground. KBB says my car isn't even worth $4000. What about you? Not enough to get rid of I bet.