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I brought a 2000 Volvo S80 2.0 litre ex Singapore in 2006, mileage was 40k. It has all the leather trim and other Volvo luxuries. The cost of the car was $30K. Three years on and the mileage is now 143K and its value is about $8,000

I've spent almost $4,000 on servicing and another $3,000 on repairs and are up for another $3,500 on repairs and service in two weeks (window motor problems again, cam belt and water pump).

It's still a good car to drive, fast, nimble and I feel like I'm going to be better off, in the event of an accident.

I'm worried that too much money has been spent on the car and wonder if it's time to sell or trade?

The other option is to keep it for another 3 years, and be prepared to keep forking out for service and repairs.

It may be cheaper than buying another car.

What to do?

Appreciate your thoughts.

Joe

From the "Ask Jack" archives - 15 December 2009

In another couple of years the car will have even less value especially if the odometer starts to reach or go beyond the 200K mark.

There are no guarantees the money you pour into servicing and unforeseen repairs will remain the same, quite likely they are going to increase and it will only take a major repair on the engine, transmission or air-conditioning to push repairs bills way beyond the cars value.

If you love the car however, you may have to just be prepared to pay as you go until it becomes uneconomic to continue and then simply walk away with no regrets. The risk you take is spending big money on one repair and a short time later something else goes wrong which pushes you over the limit.

It also depends on what you would replace the car with. You could end up pouring lots of money into something else and have the same dilemma, that is spending more than the cars value.

Your call Joe, the only certainty is the Volvo will continue to cost you plenty to own and maintain.