Quite accurate on all fronts. Case in point for reliability and affordability...
Any newspaper car ad will tell you the terms of the 60, 72 or 84 month contract. Depending on the make and model and trim, your SUV or passenger van or pickup, not even loaded up with options, is going to set you back anywhere from 35K to perhaps $50K. (Have to add taxes and licensing fees to your purchase price, as well as extended warranties...)
Now most people either trade in with little equity or have a small cash down payment, say 10 percent. Payments on this new sheet metal range from $400 a month to over $700 for the loan term. I realize it's a big spread but there's so many possibilities out there...
Anyway, using the same down payment of 10 percent on a say, $35K vehicle, that's $3,500. That buys you a basic older 90's van. Now with the monthly 4,5,6,or $700 payment, you are either building up a good sized maintenance fund or using that each month for repairs. Yes it could be needed to spend the entire first year's "payments" on repairs yet how much more would you realistically need than that? At $500 a month that's $6,000 in repairs in a year!
New tires, shocks, exhaust, windshield, radiator, belts and hoses, battery, front end repairs, alignment, brakes, tuneup, filters and fluids, even a complete transmission could be purchased with $6,000, AND you would then start off year 2 with all that already done, it's pretty difficult to spend it again, while the poor guy making payments keeps writing those checks...
There's two ways to look at reliability, get a rock solid vehicle (what's that?) or have the funds to pay for the repairs and if done right, you don't need to pay again for quite a while. The guy with the new sheet metal also pays a lot more for his required full coverage insurance than I do on my almost 20 year old van with liability only.
That's my take on it. I paid $2,100 for my van and haven't spent $2,000 in a year. Course the transmission may go out but it's still shifting smoothly. With 175K on it I know it's due yet I have the funds for another, and that one should last another 10-15 years at least.
No it won't keep Detroit's factories open but that's not my issue.