I agree, but going back to your analogy, I would rather spend the $1000 and not have a car payment for another few years (assuming a $200 for a year, that's $24

I agree, but going back to your analogy, I would rather spend the $1000 and not have a car payment for another few years (assuming a $200 for a year, that's $2400 I'm not paying). My bigger worry is if I get into an accident, the value of the car is so low that the insurance will total it, and now I'm stuck with buying a new car.