I'm going to go against the tide (big surprize I know
).
I buy a new Hyundai every five or so years (when it starts to get close to 100K miles).
$12-15K for a shiny new car with all the new gadgets and safety gear (CD player, air bags, cruise control) and 30 mpg.
That is for an Elantra, the middle of their line.
The only money I spend on the car is for oil/filters/tires.
For me it is about time, my time is too valuable to be spent running back and forth to a mechanic and/or buying parts/wrenching on the car plus the possibility of the car leaving me on the side of the road.
When I feel like working on a car I would rather fiddle with my Porsche and not be under pressure of "it has to be fixed or I won't make it to work".
Besides the Porsche seems to always provide me with something to work on... I think it is a Zen thing.
OTOH as other have said I know people who can keep a BMW/MB/Honda runnig well over 250K miles.