Big traffic jam on the way to work this morning. I thought I was in for another one of those avoidable accident scenes. I couldn't be more wrong. Seems the holdup was due to a mechanical failure. There in the centre of the roadway a woman was on her cell phone getting help for her Saturn. The car had lost its left front wheel. As we were waved through I noticed that the lower ball joint had failed and the wheel assembly became dislodged. There is no excuse for this type of failure. Someone dropped the ball. Either the owner has been skipping service or the shop has not been doing its job responsibly. In England, for instance, vehicles are required to have a mechanical safety inspection annually. Testing is administered much like we have emissions testing in this province. Begs the question: should we be looking at this type of program here?

I purchased a 1991 Toyota Corolla from a private mechanic and I trust him to tell me exactly what is wrong with the car. Nine months later the car is not starting and it seems like the battery is gone. Should I repair the car and try to get one or two more years of not having to pay car payments or should I use the money to put on a down payment on another car?

This car is OLD. 1991 makes it 18 years of service. According to the Department of Transportation, 15 years old and it's considered a historical vehicle. How much service is left? Why not contact the guy who sold it to you and have it assessed? If all it needs is a battery and a quick check-up I would go for it. If there is more involved I would seriously consider replacing the old girl. Second issue is your budget. Stop thinking of a car as an asset. It's not. Next to electronics it's the worst investment you can make. Consider the concept of purchasing transportation in lieu of ownership. This could involve leasing, short term rentals, or car sharing. This might ease the pain of ownership.