> Last car I bought cost about $3000. Cost of insurance? Over half that, annually.
How bad is your driving record, and are you getting anything beyond liability? I have paid about that much, for 2 cars, and I have a lot more than liability. Even now, for 2 cars I'm paying under $1300/year - and have more than liability coverage. When I paid the bare minimum, for 1 car, the most I paid is $600/year. Even adjusting for inflation, it would not amount to over $1000/year today. And I paid that only for 1-2 years while building enough of a driving record. Looking at my financial records, when I had just liability on an old car, I typically paid $350/year.
> More expensive if you do a monthly payment plan.
Not all plans are like this. For the last few years I've been on a plan that costs the same whether I do monthly or annual. Shop around.
> And then comes maintenance of a 30yo vehicle! Total cost of ownership was about $3k/y
First, if you paid $3000 for a 30 year old car, it's a bad deal. 2 years ago I bought a 15 year of Honda Accord for $3500, and it did not have a lot of miles. Second, if you're paying $3000/year for maintenance, you bought a bad car. Sell it and get a reliable car. As an example, I paid $350 this year for maintaining my car (including oil changes). I paid about $1100 last year. Looking at my prior old car, I've gone as low as $100/year. In fact, looking back at almost 10 years, that $1100 was the most I've ever paid for maintaining an old car.
> Even cheap cars ain't cheap, and that's one of many reasons that poverty is a spiral.
Good cheap cars are always cheaper than the alternatives. Always.
How bad is your driving record, and are you getting anything beyond liability? I have paid about that much, for 2 cars, and I have a lot more than liability. Even now, for 2 cars I'm paying under $1300/year - and have more than liability coverage. When I paid the bare minimum, for 1 car, the most I paid is $600/year. Even adjusting for inflation, it would not amount to over $1000/year today. And I paid that only for 1-2 years while building enough of a driving record. Looking at my financial records, when I had just liability on an old car, I typically paid $350/year.
> More expensive if you do a monthly payment plan.
Not all plans are like this. For the last few years I've been on a plan that costs the same whether I do monthly or annual. Shop around.
> And then comes maintenance of a 30yo vehicle! Total cost of ownership was about $3k/y
First, if you paid $3000 for a 30 year old car, it's a bad deal. 2 years ago I bought a 15 year of Honda Accord for $3500, and it did not have a lot of miles. Second, if you're paying $3000/year for maintenance, you bought a bad car. Sell it and get a reliable car. As an example, I paid $350 this year for maintaining my car (including oil changes). I paid about $1100 last year. Looking at my prior old car, I've gone as low as $100/year. In fact, looking back at almost 10 years, that $1100 was the most I've ever paid for maintaining an old car.
> Even cheap cars ain't cheap, and that's one of many reasons that poverty is a spiral.
Good cheap cars are always cheaper than the alternatives. Always.