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Many people choose to dump a vehicle when reliability starts getting questionable. However, living in NYC, I imagine you have plenty of alternate transportation options if the car breaks down. So you're risk is mitigated compared to someone in a more car-dependent location.

155.5k is a fair amount of miles, but it's not terribly uncommon for a well maintained Honda to go 200k+ without major mechanical failures. With your street parking concerns, an older car makes sense, as long as you can deal with the possible headache of something going wrong. Eventually, you have to decide when that headache is worse than the cost of a newer replacement. But you can make that decision at any point when something breaks.
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