Thanks for your response!!! I’m thinking the same thing.
I’ve been told it’s not worth buying a brand new car because depreciation is so great, that buying a 5 year old car is a better deal, especially from a company like Toyota.
I’m in the southwest, too, actually.
Really struggling with that decision - I tend to prefer slightly older cars
and new ones are ridiculously expensive. But you can get % financing on a
new Camry so it might be affordable abd then you’d have the warrant. I
kind of fell in love with a 2014 Rav 4 Limited though…but even for that
they want $25,000!
I agree one hundred percent. Go ahead and repair the car if everything else is in good working order. My lady and I got lucky getting her grandmother’s 98 Camry which had 66k miles on it when we got it 3 yrs ago. We did have a $1000 repair on the rack and pinion. But it’s the only problem in 3 yrs. Pretty good. I hope your do very good for you after this.
This is an estimate of the repair with OEM Toyota parts by driverside.com
1998 Toyota Camry
Estimate
$746.93
Estimate Details
Timing Belt Replacement for 1998 Toyota Camry
Parts (61% of total cost)
Timing Belt
Parts: #1356809080 x 1$51.72
Parts: #1350574011 x 1$101.57
Parts: #1350363011 x 1$58.79
Parts: #9031138067 x 1$7.01
Parts: #9008031053 x 1$23.58
Parts: #1350520010 x 1$116.16
Parts: #135030A010 x 1$94.30
Labor (39% of total cost)
Installing Timing Belt
$113.00 per hour x 2.6 hours$293.80
Using standard rate at ZIP 12901. Customize Labor Rate
Total$746.93
Toyotas and Hondas really hold their value
So instead of buying a 2014 Rav4, I’d seriously consider spending a little bit more and buying a new model, and you would have the full new car warranty
Not to mention, there are typically cash-back, rebates, incentives, attractive financing, etc. on new cars
Not so with used cars, afaik
Mechanically I wouldn’t be worried. The only thing I would check before sinking the money into it is the condition of the car underneath. If it is not rotting out from rust then I would say, with confidence, that you should fix it.
Since you are on a first name basis with the “gal”, just get her fixed and start thinking about a marriage.
I guess according to the Asian Car Myth these are great cars. According to legend, even with a variety of all sorts of problems they are still considered great cars. 
However, compared with my old GM cars with the venerable 3.8Ls, not so much.
Steering racks, eating oil, faulty oil pump seal, all before 250,00 miles. I think I’d re-evaluate before I put money into one. Had any of those problems presented themselves on one of my cars I’d move on to a different vehicle.
These cars are sending out an S.O.S. Sorry, I think it’s probably time to let it R.I.P. 
CSA
rascal, that info might not even apply where ever the OP is or the shop they might use.
@rbuchman I learned in 8th grade that kids don’t have a say in the choice of the family’s car. When my mother went back to work in 1954, my dad.bought a 1947 DeSoto coupe for the second car. The maroon paint was faded and the car needed a general cleanup. I made some really caustic comments at the dinner table.about that DeSoto not being cool. My dad didn’t say a word, but the next day he came home with rubbing compound, auto polish, wax and a whole bucket of cleaning supplies. I was informed that I was to make the car look cool. I worked for two days cleaning up that DeSoto. I even tore into the non-working radio, bought a new tube with my allowance and had the radio playing. Suddenly, that car was.cool. We liked riding in that DeSoto rather than our newer car because the DeSoto had a radio and our newer car didn’t.
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I think it all depends on what else is going on in your life!
After going to test drive some used cars (camry,prius and civic coupe), I’ve decided to actually look at used small trucks, since I have a horse and want to get a small trailer to haul her around in. My goals have shifted, so my car demands have shifted, too.
Philosophically speaking, I enjoy using things to the bitter end, but in this case I have another factor that is contributing to my decision.
As for as the reliability of my Camry, though, it has been incredibly great. If I didn’t have the horse goal, I think I’d probably keep it until I hit a repair for several thousand.
I noticed that the 2013 Camry I test drove didn’t even get better mileage than my ’98!
You need more than a small.truck to pull a.horse trailer. I’ve done that. I found that a.3/4 ton is.much better.for handling a horse trailer cum horse.than a half.ton.
I agree with @Triedaq
If you’re planning to pull a horse trailer, I suggest at least a F-250 or a Sierra 2500HD
In other words, at least something with a V8 and a full floater
I’ll go even further . . . I would advise to get the heavy duty cooling package, and the larger transmission, beefier rear end, and larger engine option
This should do it…
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