new car of same model is more than $35000.

So far I spend less than 500 a year. Is it still worth it to keep my old car? It is a Toyota, only minor problems so far, and since I have high highway mileage, and I took good care of it as I'm the first and only owner, it still runs very smoothly. New car of same model is more than 35k. I don't get it: Why it is cheaper to buy a new one if mine current runs well.

Any good suggestions of car service?
By the way, I heard from a guy who runs the airport pick up service, he mentioned to me that some work needs to be done to the car periodically ( other than oil change) , and the car can go above 250k mile easily, but I just forgot what exact work he suggested.