Originally Posted by The Critic
Once out of warranty, I would base my maintenance schedule on the vehicle's current resale value. With labor rates being over $150/hr in my area (and many others), it is simply not economically feasible to "maintain" a high mileage vehicle, especially economy ones.
When in-warranty, I would of course follow the OEM maintenance schedule. Once out of warranty, I would only keep the car in good condition for as long as the vehicle has a reasonable resale value. For instance, it does not make sense to spend thousands to repair normal-wear items (struts, oil leaks, engine mounts, spark plugs, etc) unless they are safety-related if your 120K mile-old car is only worth $5K. I think vehicles have always had a designed service life, but nowadays, it is more evident than ever. I would also plan on sell/trading by 150K.
I think replacement cost is a more relevant measure. For me, that is the cost of a new car since I would never buy a high mileage used car. I keep my cars 15+ years so resale value is zilch.