I drive a 16 year old VW Lupo (bought new in Germany after I started my first job).

I have it maintained at a local VW dealership, which costs a lot - but I've had no problems with the car in the last 10 years. So insurance, tax, fuel and service is the only thing I pay. No deprecation anymore ;-)

But: these cheap, small cars offer a lot less protection in accidents than if you buy a new "big" car.

If some guy (or girl) in an SUV would rear-end me or ram me from the side - that would be really serious. Even fatal, if it would happen at a higher speed.

There's a price for everything.