My V70 is at my indy's shop right now. ABS-TRACS light. (This is not the first time -- I've owned the car for 20 years).

According to KBB, my car -- in "good" condition is worth $277 as a trade-in. The chance that this repair is going to cost less than $277 is fairly remote.

As Tom Magliozzi (Car Talk) pointed out, it's a false dichotomy. If the spending limit on car repairs was the value of the car, he couldn't put gas in his car.

If a car that's nearly 20 years old uses a half quart of oil between changes that doesn't sound bad so maybe the block isn't warped from overheating.

My car was driven without oil a few years ago -- for a few blocks (an oil cooler fitting rusted off). I shut the car down soon enough and it's been fine since the radiator/oil cooler was replaced.

At $277, the car is worth much more to me than it is to anyone else.

For a few hundred bucks, a Volvo that needs a tires and has a CEL could be an amazing bargain. Or it could be a nightmare. It depends.

-BTC

'98 V70 T5 213K mi., 5-speed manual, original clutch, cold weather package, factory HD suspension (1998 only), front IPD stabilizer bar, Volvo strut tower brace and skidplate, XC grill, C70 jewel E-Codes, V-1, Lidatek, IPD stuff, JB Weld, Original Duck Tape, sand, dog hair, zip-ties, Mobil-1 since new.