The wife and I both drive older cars. I put my effort into paying off my house. I have about 4 years to go.
Thats how ive been forever. Always bought a slightly-used car (mainly CR-V's of course), drove it until it died somewhere, and left it where it died to be towed away.
Never wanted car payments, always put at least 500.00 extra a month on a mortgage. Paid off my house many moons ago, also have no car-payments. (Paid off a 15 year mortgage in 8 years).
Everything went/goes into 401K where age 60 retirement is now reality.
For those who enjoy 'em (cars), great hobby. I never wanted anything more than just to get back and forth to work, etc...