When looking at whether to sink money into an older car, the value of the car is irrelevant. The relevant question is, "What would it cost to replace it?" The car should be checked out by a mechanic, who should be able to tell you the significant repairs or maintenance that will be required in the next year. With THAT number in hand, you compare the cost to keep versus the cost to replace. The value of the car is not a factor. An old Hyundai may be worthless as a used car, but have another couple years of service in it.