heres my take...
i have always had old cars.
in my case i am myself the mechanic for majority of jobs....
but... an old car ALWAYS requires some form of maintenance sooner or later. it will require SPARE PARTS, and MOST IMPORTANTLY a BIG chunk of your time. if you are not technically adept, there will be the additional cost of competent or idiot mechanics....
also cars prices are skyrocketing.... it is no longer feasible to buy a car and keep it for a long time. older the car, lesser it will sell for. and gap between your car sale price and new car price will keep increasing...
my current car is 23 years old.
i have saved up enough to get a zero meter alto. and this alto will be replaced every 2 - 3 years now. only preventive maintenance is required in this time period.