So lets assume it is another $2500 to fix the manifold; whats the car worth IF you were to sell it right now in as-is condition?
What would payments be on a new $45k++ car?
There are all sorts of theories as to when to sell, but given that its a Toyota, and a Sequoia (truck) as well, I'd fix it. Land Cruisers (which the Sequoia isn't) routinely goto 300k miles (more if diesel), and then some---especially the newer 80's & 100 series, and even then they are worth $5-10k for the 4x4/overlander enthusiasts.
The new Sequioa is going to depreciate slower than most, but its still going to only be worth $25k in 5-6 years or so, depending on which build (not the Platinum for $45k) & miles. Assuming you finance, you are looking at roughly $55-65k in total costs (acquisition + finance costs + additional maintenance costs) for a "new" car over the next 5-6 years with a residual value of $25k---so $30-40k cost. If you current Sequoia is going to cost you $35-40k over the next 6 years (maintenance/repair costs less sale cost) it might be time to bite the bullet & buy a new one, else financially it makes the most sense to keep it.
But financial calculations rarely come into play with vehicles, which are both depreciating assets as well as status symbols in the US.
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"There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs." John Rogers
What would payments be on a new $45k++ car?
There are all sorts of theories as to when to sell, but given that its a Toyota, and a Sequoia (truck) as well, I'd fix it. Land Cruisers (which the Sequoia isn't) routinely goto 300k miles (more if diesel), and then some---especially the newer 80's & 100 series, and even then they are worth $5-10k for the 4x4/overlander enthusiasts.
The new Sequioa is going to depreciate slower than most, but its still going to only be worth $25k in 5-6 years or so, depending on which build (not the Platinum for $45k) & miles. Assuming you finance, you are looking at roughly $55-65k in total costs (acquisition + finance costs + additional maintenance costs) for a "new" car over the next 5-6 years with a residual value of $25k---so $30-40k cost. If you current Sequoia is going to cost you $35-40k over the next 6 years (maintenance/repair costs less sale cost) it might be time to bite the bullet & buy a new one, else financially it makes the most sense to keep it.
But financial calculations rarely come into play with vehicles, which are both depreciating assets as well as status symbols in the US.
____________
"There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs." John Rogers