While some people love to buy a new car every few years, others prefer to hang on to what they have for dear life. After all, there is something to be said for driving a car, paying it off and keeping it on the road for as long as possible. Still, all good things must come to an end.

So, how can you tell if the end is near for your car? Consider these things closely:

The amount of mileage on the vehicle – If your car is getting up there in the mileage it might be time to start considering a replacement. While the cars of yesteryear could run forever, many of the models today are just not built to last.

The cost of required repairs – If your car has stopped running and the repairs will cost you more than a hefty down payment on a new or used vehicle; it might be time to consider replacement.

The frequency of repairs – If repairs are not technically costing you a lot at any given time, but the frequency of breakdowns is increasing it could be time to say goodbye. Older cars can nickel and dime their owners to death.

The work that has been done already – If you have a lot of money into your present car and have already replaced major systems; hanging on to it might be in order. Consider what has been done already and what might need to be replaced down the road before making the decision.

What your mechanic says – If you have a trusted mechanic, get an opinion. A good mechanic might give you frank advice on whether your car is truly a keeper or not.

Few people want to spend unnecessary money in this economy. Still, there are times when it is wiser to bid an old car adieu. Carefully consider your situation before putting a lot of money into repairs.