Indeed. Simple formula for minimizing car expenses: Buy a used (3-5 yr old) Honda or Toyota sedan. Drive it until total annual cost of repairs exceeds the cost of another used Honda/Toyota, and/or it falls apart. Repeat.

That's the most economical way to own a car, sure, but there is opportunity cost to driving something you don't enjoy when you're young enough to enjoy it. If you don't care about cars or driving, this is the best option, but if you do, it might not hurt to spend a few extra dollars on something you'd actually enjoy.

I know someone who drives a Ferrari and really enjoys it - and he's nearly 50. You've got to be pretty old before you're too old to enjoy driving a nice car.

That's raising my level of ramen profitibility, no thank you.

Not agreeing or disagreeing with OP, but ramen profitibility sucks if your life sucks...

I have a $2k motorcycle for fun, the equivalent car would cost $50k (performance wise). That way I don't think about my econobox commuter car.

Until the crucial meeting with your first customer/investor/partner happens and you're stuck on the side of the road waiting for AAA.

Seriously, it's not always just about spending the least.

Drive it until the total annual cost of [repairs, inconvenience of breakdown, time lost due to failed vehicle] exceeds the cost of another used Honda/Toyota.

As someone who remembers their first high-school vehicle too well, there's value in a level of reliability.

Or, if applicable, take the subway/tram/train/bus/bike.

Agreed, but the quote was from when you are already filthy rich. But it applies to many people in this country, since getting a new car every 4 years is so popular.

Personally I'm a fan of finding a good deal on a used car, buying it, driving it for 1-2 years, and then selling it for the same amount I paid for it. Pretty much the only cost this way is a) insurance(which you can save a few extra bucks by getting only liability) b) gas c) 2-3 oil changes.

And since you are owning the car for a short period, you won't get hit by any costly repairs.

The costs of buying and selling the car, as well as adjusting to a new car, are non-trivial for most people.

It's another case of doing more work to make more money. The question should be, "Is doing a better investment of time and effort than simply buying a newer car and keeping it longer?"

I'll still be driving my piece of shit Civic after I make my first million.

Leasing is a replacement for the buy new, sell after 2-4 years model. That's not an uncomment way to own a care, some places more common then others.

That job, it does reasonably well.