Cosmetic fixes a waste of money

Dear Terry,
Is there a point in a car's life when you should begin to ignore dents and scratches to save the money you'd have to spend to fix them? In other words, should I have minor scratches and dents repaired on the body of my 1999 Toyota Camry, or does it make better financial sense to leave them? Would the repairs add to the value of this car? Something tells me that it would be stupid to spend hundreds of dollars on cosmetic work at this point. And I even wonder if it's ever financially smart to have minor flaws repaired.
-- Susan Matthews

Dear Susan,
Good question! While used car buyers are always looking for vehicles in the best possible condition, there is a point in a car's life when its mechanical condition is far more important than whether there are a few nicks and scratches in the paint. I would say that point comes after about five years. That doesn't mean you shouldn't fix major dents or crash damage. As tempting as it may seem to take that insurance check and buy a flat-panel TV instead of fixing the fender, don't do it. Obvious crash damage diminishes a car's value beyond what it might take to fix.

But do resist the temptation to repaint a car to take care of a few nicks. A factory-quality paint job can run $1,000 or more and it's unlikely you would see a return at trade-in time on a car as old as yours.