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Should I have an expensive service carried out on my 12-year-old Impreza turbo or sell it?

I have a Subaru Impreza Turbo 5-door, which will be 12 years old in July and is still in top condition. It has been nothing but fun and 100 per cent reliable, as well as low tax for its performance due to its age. It meets all my needs of being a sporty car and also a load carrier. It has done 64,000 miles and has had oil and filter changes twice a year and a new cambelt every four years. It has had the usual expendable items such as brake discs, pads, exhaust, battery replaced over the years. Its next major service is likely to be about £800. Should I have this major service? Or should I just have the usual fluids changed and then run it into the ground? Or should I sell it and get a new one or a similar car, in which case what are the alternatives?

Asked on 21 May 2011 by PT, Cheltenham,

Answered by Honest John
If you like the car and want to keep it, have the work done. You won't get the money back, but it's much cheaper than the depreciation on a new one. You simply won't be able to rely on it as much as you could on a new car. And a catastrophic breakage like a timing belt will probably cost more in repairs than the car is worth, effectively turning it to scrap.
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