I figure if one spends say $100 K on a car, in five years it's worth around $50 K, so you're spending $10 K a year on depreciation (in addition to).
These days, a decent new car will cost you $30 K anyway, anything cheaper is cheap, tolerable, but cheap, most will value something $30 K. So, an additional $7 K a year for ... "luxuries/performance/looks" etc. I waste nearly that much pretending to play baseball in January, we probably all spend that much on stuff we don't "have to".
If you lived on "necessities", by which I don't mean pure necessaries, but dispense with dining out, alcohol, maid service, hookers and blow, you probably could cut your spending by quite a bit. I have one pretty modest car, it was $40 K, it's comfortable if boring, gets OK gas mileage, I looked at fancier and decided I didn't need it.
So, it's a matter of choices, and of course your financial status.
