Chrysler Repair: 1997 Dodge van:How long to own it/when to trade, dodge grand caravan, realistic expectation

Question
I have a 1997 Dodge Grand Caravan with 140K miles on it.  The air conditioner just went out.  Have yet to get an estimate for repair.  About 6 months ago, had a tune up.  A couple months before that, had some other work done.  At what point do you give up on repairs and get a new car?

Answer
Hi Van,
If it provides what you need it for, then the point of diminishing return might be when the cost of repairs begins to equal the market value of the vehicle. But at the same time you have to recognize that buying a new car is going to cost much more then to fix your old one when you consider the depreciation during the first three years of ownership. So I am of the opinion that if the repairs are routine wearout/maintenance items then I hold on to the car. When very basic items need repair, e.g. engine or trans rebuild, chassis functional/structural issues, complete paint job needed, for example then you may have reached the point where even though you do the repair the value of the vehicle is not that great even when the repair is done, and/or if it was the prospect of other major repairs to keep it going is a realistic expectation, that is where giving up is realistic. I tend to hold on the vehicles way longer than most people (currently a 75 VW, and 89 Chrysler) so I may be giving you an overly conservative opinion.