JohnRunchey.com

I've decided to toss in the towel with my crappy old car and take the government handout of $4500.
 
My poor old Jeep just turned over 175,000 miles. I really could push it for probably another 50k, but the allure of getting $4500 for it now, when it is probably worth maybe $800, is too much to resist.
 
At some point, probably soon, the radiator on my jeep will give out, stranding me. 
 
The rear end is making a nasty bearing-going-out sound. I thought it was a wheel bearing, replaced them both, no dice.
 
I could get the rear end fixed, and just wait for the radiator to go, and still be money ahead, for now.
 
But I figure, say I keep this beast limping along for another year or two. At that point I'll have to buy something as a replacement. Suppose I buy a used car with 30k miles on it - I wonder how much I'm going to save over the price of a new car? 
 
Would I save that much more than the $4500 I can get for my old car now? Enough more to compensate for the money I'd put into my jeep, and for the pain and suffering of driving such an old car wondering what is going to go next?
 
If I were a true tight-ass I'd put some cash into the jeep and keep it going for as long as possible. 
 
But since I have enough in savings to get a new car outright (no payments!) and can get this $4500 for my old jeep, I'm doing it. 
 
Tomorrow I'll be driving a new, reliable vehicle, and my days of getting down and dirty with endless repairs will come to a close. 
 
Am I making a mistake, or a financially wise choice ?