This is true for the people who have to have the newest and shiniest car. Buy a reliable car and drive it until the wheels fall off and it’s literally the opposite of poverty trap.

The above said I do agree with the sentiment. I’ve seen very very expensive cars sitting outside of trailers and other hovels that I wouldn’t go anywhere near. I’d rather have a crappy car and a nice house.

I have a “nice” car now because I drive for a living and besides it being good for business to be driving something not falling apart, I spend enough time in it that I should have something comfortable.