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Well, you're going to see your tires wear out first. They'll cup and feather very quickly, cause excessive road noise, and overall be a pain. The wear will get more and more extreme until either one fails or goes down to the threads in a few places and simply won't hold air.
The excessive range of motion and frequency of motion from worn shocks will cause wear and failure of control arm bushings, sway bar bushings, strut caps, cap bearings, and possibly even CV boots. And that's just on the front end. As for motor mounts, those will probably take a while to be affected.
That's not even getting to the safety aspect. The car will roll more in corners, and braking and accelerating will not be as stable due to improper weight transfer stability.
For 4-5 years it would be much cheaper in the long run to just replace the struts, provided all the previously mentioned parts are in satisfactory condition right now. Depending on the distances and roads you drive, once one or two bushings start to go out, you'll very quickly have a car that is unsafe and downright scary to drive for all the noises it makes.
I know that's probably not what you wanted to hear, but it's pretty accurate.
If all you're doing is like 4 miles a day back and forth to school and stuff, you might be okay. If you spend much time on the highway or surface streets you'll see some pretty bad changes popping up.
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'96 4cyl 5spd Camry
147k miles and running out of things to fix...
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