I love the folk that get rid of a perfectly good car or truck and take on a $4-600/month payment in order to save 10mpg. Yet, they only drive 8-10k miles a year. Even with $4/gallon gas, the payback would be 25 years!
So do I! I typically buy something that's 2-3 years old for myself, pay cash for it and run it for 10 years or so myself. I'm one of those people who drives < 8,000 miles a year. The bulk of my driving is back and forth to the commuter train, typically 10 miles a day and the occasional weekend errand runs or trip up north to the cabin.
Given I drive so little, fuel efficiency doesn't mean spit to me, so I drive an SUV and enjoy all the creature comforts of it. Since I live in the snow belt, the 4WD is nice too. :-)
Current vehicle is a 2003 GMC Envoy Denali. Bought it with 33,000 miles on it in 2006 and it turned 71,000 miles last week. I'll probably drive it a few more years before giving it to my youngest son as his first vehicle. (This thing doesn't have a scratch on it. Wish I got such a nice vehicle as my first when I was his age!)