Sure, your car is old - but you love it. You've maybe even given it a name, or maybe it's almost became a family pet. However, all good things must come to an end.
Nowadays, we are fortunate to live to the ripe old age of 70 or 80, or even more if we're lucky. But our beloved cars only last a fraction of that time. There comes a moment when you’ve got to realize the cold, hard truth: it may be time to let it go. But how do you know when this time has come? Well, there are a few dead giveaways that your vehicle needs to be retired.
For instance, strange noises even your mechanic can’t fix. If there is incessant whirring, wheezing or buzzing coming from underneath the hood, even after your mechanic does the seasonal tune-up, there may be cause to worry. There are literally hundreds of moving parts in your engine, and they wear out. What's more, when they do wear out, they don't run as well, and for every month you keep driving you may be increasing the risk of a safety issue.
Or your vehicle might start to suffer from declining fuel economy. You’re sure that you used to do the Montreal-Toronto drive on one fill-up, and you still had nearly a quarter-tank left every time. Didn’t you only hit the gas station 3 or 4 times a month, and now it's almost two times a week? Well sure enough, this is another sign your car is getting old. Increased friction between the parts means it takes more energy to make them turn. An old car uses more gas. So think about it: replacing it will be good for your wallet, as well as the environment.
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Source: http://paulbuchanan.articlealley.com/how-to-tell-whether-your-car-should-be-scrapped-2295234.html