Time for a new car?

My 1996 Toyota Tercel has nearly 246,000 miles on it, and it's starting to show its age. The battery gave out last year and needed to be replaced, and the air conditioner also needed to be recharged. Unfortunately, this year the air conditioner needed to be recharged again, but initial tests indicated that it was leaking and couldn't be refilled without first getting it repaired. I chose not to invest the money, and spent the hottest summer in memory without an air conditioner.

A few weeks ago I started to hear a noise somewhere between a roar and a rattle coming from under the front of my car. I think this is probably a loose bracket on my exhaust system - a hole in the system or a header pipe would probably be much louder, and would be filling the car with toxic fumes.

Yesterday I decided to take a look at my engine and check the fluids while I was getting gas and I discovered the latest problem: my hood won't open. Apparently the release cable has broken. So I guess I need to get that fixed.

The car is reaching the point where it seems like a bad idea to keep putting money into it for repairs. It's still running well, still getting about 37 - 40 miles to the gallon, but soon it will need new tires, brakes, a new exhaust system, and eventually some major overhauls. I think it's time to seriously consider investing in a new car.