So the final outcome to whether or not to keep the car, is KEEP.
We took it to have a full diagnostics workup, it got new and really good tires for safety, it needs a new battery and some really minor things and then it will be (almost) as good as new. We are told it will probably outlast us!
Thanks to everyone for their helpful inputs.
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A people free to choose will always choose peace. 
Law of Logical Argument: Anything is possible if you don't know what you are talking about!
Since light travels faster than sound, some people appear bright until you hear them speak
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