New or Used: Common Sense or Uncommon Downsizing?

Dave writes:

Hello Sajeev and Steve,

First time writer, long time reader; I must say, TTAC and Piston Slap rocks.

My wife and I are in a bit of a quandary. We currently own outright a 1997 Chevy Monte Carlo 3.1L LS with 197k miles and counting as well as a 2003 Chevy S-10 Blazer LS with 145k on the clock. Lately, we have been sinking money into the Blazer for everything from brakes, to shift solenoids, thermostat, intake manifold gasket and crankshaft position sensor (soon to be O2 sensor). I have been driving the Monte since senior year in high school (2004) and it has also had its share of problems, namely Dex-Cool and the ensuing broken conn-rod. The engine was replaced with a rebuilt Jasper at 117k. The dash is lit up like a Christmas tree, but I change the oil religiously and watch the other liquids and wear parts.

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