I can't discount any of the opinions in this thread. Given the fact that I retired early 23 years ago with very little savings and a rental property which still had a mortgage to pay, I'm almost stunned at my good luck, looking back on a mostly used-car ownership history with one new car exception.
What I learned from all that, with the help of shop manuals for every car I've owned, is that cars are conglomerates of subsystems, and parts in the subsystems have lifecycles. The shop manuals usually provide a chart that suggests some of the lifecycles.
A car or vehicle was something that I always "needed", but for which I didn't want to pay for extra glitz, status/prestige, etc. I had different priorities.
So, after I retired, I wanted a 4WD SUV and had an opportunity to buy a 1987 Isuzu Trooper in 2000 from a friend. A clutter-brained college girl talking on the phone to her cat's vet while driving then totaled my newly acquired Trooper after I'd had it two years. But I was impressed with it, and bought a second generation 1995 Trooper. I have talked of this vehicle extensively in threads and posts here over the years.
Last year, I had to replace the starter-motor and the windshield washer pump-motor. I had owned the car for 21 years, using it more for short trips to the grocery after several initial "wilderness excursions", so I had twisted the ignition key many times over a period of maybe 100,000 miles. I should've expected the starter to die. Now, there's not a damn thing wrong with the car at 200,114 miles except the anti-theft system -- decommissioned by me because of repairs I couldn't make and a lack of confident knowledge by mechanics I've known. I'm going to replace a gas-tank idiot-light sensor this spring, although it's not really necessary since the conventional gas gauge works fine.
I ran some Cata-Clean through the exhaust over a year's time, and my December '23 smog-test (this is California) was phenomenally great. New brakes, new tires, new suspension and ball joints, new radiator, new harmonic balancer. It has a reman transmission acquired in 2004 with 78,000 miles of use. Doesn't use a drop of transmission fluid or engine oil. Factory "hwy mileage" spec was 17 mpg, and that's what I got with it on an 800 mile round trip this last November between Riverside, CA and Gardnerville, NV -- south of Reno. Cruise control still works perfectly, and for an old fart like me, it's a miracle.
I'm 76 years old. The rental property has long since been paid off, adding $1,000/mo to my fixed-income retirement annuity. My elderly mother recently died such that I inherited her house and her liquid assets -- doubling my savings. Meanwhile, over the 22 years I've owned the 28-year-old vehicle, it has cost me (including original used-car purchase) just short of the $29,250 MSRP of 1995. Consider that about $4,000 in repairs were due to my negligence and might have been avoided. I figure it's good as long as I can buy gasoline for it, and I might not need any significant work done on it before I f***in' die and punch my ticket.
It seems like that old 3.2l V6 is just going to keep on running, some mechanics telling me it will go to 300,000 miles.
I don't think I could easily make a purchase as lucky as this had been, and I don't want to buy a new car. I drive about 3,500 miles per year, although that increases now that Moms has passed and I can visit my brother north of here. The "plastic and rubber" hasn't deteriorated. I don't know what else to say. I've got a "solid gold repair shop", and I cultivate the people who own it or work there.
With my sense of things, I'm not sure what I would recommend to others. It might be fine to get a vehicle with maybe 50,000 odometer miles for a good price with CARFAX information before purchase. Parts will eventually wear out and need replacement. One has to embrace the trouble and attention of used-car ownership if you want to go for the "long haul". You might have more luck than I've had, or you might have less. Otherwise, getting a vehicle for $30,000 new every six years with a $10,000 trade-in value might cost you $60,000 or $70,000 over 18 years, not counting repairs not covered under warranty. Maybe more. And also figure the insurance bill when you have a car mortgage. Right now, I may have $4,000 "at risk" if my Trooper is totaled, but the odds are low for that to happen.
And honestly, I don't know if I could do this again. It will require extensive study and research, I would think. I can't keep up with the 21st century, and I feel a bit weary, but I intend to hang around as long as I can. That includes keeping my license and running this old car.