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I’m right there with ya, on that line of thinking.

I can’t replace my $1800 car with one that is equal in size or larger, and in equal or better condition, for less money than the most expensive repair I might normally encounter. I can replace my transmission for about $3500, but most $3500 used cars are smaller than mine, or more beat up. I know the whole service history of my car; I can do real, informed forecasting about the near-term cost of its upkeep. I know that the engine and transmission — if not abused — are expected to require only basic attention (fluid changes, etc) for at least the next three years. I know the car needs new tires next month, and plan to get some that are rated for 80,000 miles, because this car gives every indication that it will live long enough to wear them out.

I know none of these things buying anything else used, and anything new is just out of the question purely on the basis of drive-off depreciation. I may be nuts; I’m not bat-guano insane.