The only other thing to think about is simple.
A decent car, 20K, over a 10 year span 9especially in a place like NJ!)
$20K/10yr
$1K/yr insurance (average, higher for younger, lower for older)
$1K/yr gas (10K miles, 25mpg, $2.50/gal)
$160/yr oil
$100/yr tires
$250/yr repairs/misc
You start getting about $4500 a year! (ymmv).
That is a lot of $$ to spend just for convenience.
When I was in Hoboken I put only 3K a year on the car. I only kept it for visiting family and in laws. NOW I have a 20 mile commute that has no convenient mass transit and I need the car.
But I was always asking myself if I really needed to be spending so much money for something I had only as a convenience.....