Originally Posted by
DeltaboundRedux
Never in my life have I spent more than $5000 for any car. Always paid cash. Take care of them and drive them into the ground.
Cars are utilities, nothing more, unless you can afford better.
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"It's really expensive to be poor" is true enough though. People making $30k/yr can't afford a cash car for $5k and get sucked into 7+ year loans for USED cars. Which they can't afford to take care of. It's a vicious cycle.
I generally spend more than $5000 but I agree with the premise. I always buy used cars. Never finance (I'm not a Ramsey disciple but I don't like financing things that depreciate). Maintain my cars well. And drive them till they are falling apart or, more usually, circumstances change requiring I have a different model vehicle.