Fixing your run down car will never provide the same level of utility and redundancy that having two cars will. Preferably you do both.
If you live in a somewhat remote location, and your wife is pregnant and you know she needs to go to the hospital because of complications, you don't just make sure your somewhat run-down car is in better condition, and gassed up, you also make sure to find someone else in the area that you can rely on for a vehicle because it's that important. When it comes down it it, there are things important enough that you try to reduce thy impact random chance can have on it. Having all humans on Earth is one of those things to many people.