Should we replace our 2005 Corolla now before any expensive faults develop?

My wife's car is a 2005 Toyota Corolla. It has done 54,000 miles, but in the last two or three years it has been used mostly for local driving with one long run every few weeks. It was serviced recently and the cost was £600 for an MOT, new discs, new pollen filter, repair of oil leak, valeting and collection and delivery, which I thought was reasonable. My question is whether we should run this car into the ground or replace it now before it gets expensive. If we replaced it we probably would get a Yaris or something similar. Your advice would be appreciated.
My mother has a 2001 Yaris 1.0 that has only done 20,500 miles but has been absolutely no trouble at all. It's still on the original exhaust, though it has needed a new battery due to her short run use. It's still good to drive. I don't think your Corolla is in for more trouble in the near future because bits like alternators, PAS pumps, A/C pumps generally last a lot longer on 'Japanese' cars (even those built in the UK) than they do on German cars. I think it may have a timing belt engine, though, and that belt will need to be replaced soon.
Answered by Honest John on

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