Originally Posted by
Roody
The cheapest car (Nissan Versa) cost just over $5,000 per year to own and operate. Even with the cheapest car, a person at the median income level will be spending about 21.5 percent of her/his personal income on the car:
Going with a new car — even the least pricey new car on the market — is an expensive way of getting around. I can get something several years old for a lot less, thereby dropping some of my costs. But I still will end up paying for transportation. My purchase price is lower, but often I'm getting a vehicle which is off warranty, so I'll be stuck with the costs of repair which would not be mine if I had bought new. Also, a car several years old will need more attention than a new car. Eventually, repair bills are going to become a huge problem for any car. Some will get incredibly cheap cars and then tinker with them to keep them running. I have neither the tools nor the skills to do that, nor do I have the time or the interest.