Just remember that 老 is used mainly for age. 旧 is used mainly for things. 老式 = passe, out of fashion (literally fashion of the elderly) 旧式 = old style, old fashioned, style of yesterday. So the above generalization I gave you still holds.

I agree with freds, in addition,老also have the meaning'out of fasioned'. Such as老牌子，老款式

旧 means "used". For example, 旧汽车 means a used car. 老 means ”aged“, for example, 老人 means an old man or an elderly.

旧 implies "wear and tear" 老 implies "age"