I don't think it has to be all or nothing.
I have a paid for used car. It costs me only gas a month to keep it. I pay 165 in liability coverage every six months. Oil changes every two to three months, do them myself. Repairs, as far as I can do them myself, I do them myself (or well, any adult male member of my family
. Car gets too expensive to repair, eh, just get another beater.
If you take care of your beater, could be awhile before you would have to do that. My sister has an ancient pickup from the 80s, but it is still chuggin along like it has been since the day she bought it 4 years ago.
I am getting rid of my beater for another beater within the next few weeks, but it is because my current one is too small for my needs now. I need something just slightly bigger. Thinking a two or four door 1994-97 Civic or 1998-2000 Focus wagon. Both are fairly reliable and are easy on gas. My husband is looking at 1989-1992 CRXs for himself as his commuter. They don't die and get like 40+ miles a gallon. Sell for around 900-1500.
I just can't see ever wanting to have another car payment or being forced to carry full coverage again, but that doesn't mean I can't have a car either.