My daily driver is a 1992 Honda Accord with 203k miles. I enjoy driving it very much, and I expect to keep driving it for many more years. It's an extra car; I could easily sell it, not replace it, and still have other vehicles to drive that meet all of my transportation needs. But when you get a really good car like this one, you don't just get rid of it! Plus, I'd only get a lousy $1k or so if I sold it. I'd rather have a fantastic car than the extra $1k in the bank.
Do I have to repair it more often than a new car? NOPE! Back in May, I drove it down to West Virginia, 500 miles each way. Car ran beautifully. When I got back, it was about due for an oil change, so I changed it a few days after. Since then, I haven't done a single thing to it. The last repair I did was replace a leaking water pump a year and a half ago. It was about due for a timing belt anyway, so I changed all that and did a full tune-up. Nothing but oil changes since then. Prior to the timing belt/water pump (thinking hard)...I can't remember the last time it needed any repair. I'm not saying it's never needed any repair, I just can't remember the last specific repair I did before then. It must be at least 3 years since the last repair prior to the TB/water pump job. I hardly ever have to repair anything on it. I actually save a lot of money in maintenance driving the Accord over my other vehicles, since parts for it are so much cheaper. For example, I can wear out a set of tires and pay $300 to replace them on the Accord, or I can drive my truck every day, wear out its tires, and pay over $600 to replace them. I have another vehicle to maintain, but it reduces the frequency of maintenance on the other vehicles, so it more than evens out. This car is so ridiculously cheap to own, it basically costs me nothing to keep it around. I've done the math - The gas savings from driving it instead of my truck pays for the insurance, registration, and yearly taxes on it. I have classic vehicle plates on it, so the yearly taxes are super cheap, and it's old enough to be exempt from emissions tests. I have liability-only insurance which costs $48/month. I have the Accord listed as my "primary commuter" on my insurance while the others are "pleasure use," so it decreases the cost of insurance on the other cars too, further adding to the $ savings.
But it's not all about the money. I honestly think it's fun to drive, it's very practical (I have two baby seats in the back so I can haul the kids around, and the trunk is big enough to fit a whole Costco-shopping-trip worth of groceries), and I like driving something different from all of the newer CUVs I see every day. I have zero desire to buy something newer. Been there, done that. I hate the car payments, high depreciation, expensive insurance, and expensive taxes that go with a newer car. And it's all for what? Doing the same things that my old car is capable of doing? No thanks.