Fridges 100% die, they're made to now. If your fridge is really that old and you can manage it, NEVER get rid of it, tell your parents to leave it to you in their will lmao.
You will lose money this way, old refrigerators were way way more power hungry and you can easily expect to spend more than a new fridge within 5 years.
You can still get new fridges that will last for decades. It just won't be one with LCD screens, ice machines, in door dispensers, complex internal designs, etc. Every one of those things simply creates a cascade of new points of failure, and component materials of varying ability to deal with the stress of being a fridge. You can buy new, efficient, fridges that are nothing but a box that cools, and a box that freezes, with doors. They will last for decades if you don't do anything crazy, or your house isn't destroyed by a natural disaster.
Depends on how old it is. Mine's a 1995 model. I've measured its energy usage and a new fridge would pay for itself at around 9-10 years if I bought a basic model*. That's around the lifespan I'd expect from a new fridge. So I'll just keep using the old one until it dies.
(*) Current fridge is a basic, low end model, so assuming I replace with a similar basic, lower end model. Payback would be much longer if I upgraded.
This is as silly as hanging onto an old gas guzzler ‘cuz a new car is expensive and doesn’t last as long’ when the cost of gas and maintenance compared to the newer more efficient car easily pays itself off within first 4yrs of having it. A new car can save up to 1/3 the amount to get to places. And your not paying the heavier maintenance fees (replacements) like an old car.