I have a '85 Oldsmobile Cutlass Calais with very high mileage and in need of more than $1500.00 in repairs. I have been advised by several people to "drive it till it drops." Is this a reasonable course of action?
In some circumstances it makes sense to run a car into the ground. When the value doesn't warrant the estimated cost of repairs, it's just good business sense not to do the work. In the meantime, you may get a few more miles out of the old goat.
But if safety is a factor, at least do the repairs needed to keep you in one piece. When we're talking about safety, we're talking tires, brakes, steering/suspension, lights, seat belts and maintaining the engine enough so it won't shut down in the middle of an intersection.
Sounds to me like your best bet may be to take the money you're considering for repairs and use it as a down payment on a better vehicle. Find a replacement in good condition, and have a reputable mechanic confirm there are no major repairs needed before you buy.