Is it safe - not just road worthy, but for anyone that drives it?
Is it still running well?
Other than gasoline, is it costing you more than 50% a month of a replacement car payment?
Does it have any trade in value toward any car you might replace it with (I'm guessing no, so it would be a private sale)?
If you get a replacement, will you need to finance (because that'll add more insurance cost)?
The mid-level car market is still high right now, and if you need a loan for a used car those are higher as well. If it's running, and you don't NEED a replacement yet, keep it. Save for the replacement. And keep another vehicle out of the scrap yards.
Mine is a 1999 Wagon with under 156K miles. When I bought it I lived in California and it's a rust free, well maintained car. I'm now putting about 8K miles per year on it, and in the winter try to wash off any salt within a day. It's got a couple of bumper scratches and the wiper stalk needs to be replaced or repacked, but other than that all is good on it.
I've been on the fence a few times about replacement (before the car market skyrocketed). I'm going a different route when it comes time to replace - all used: Lexus LS460 AWD, RX350, or Hyundai Genesis 4.6L or 5.0L.