A few years ago, my wife and I both had car payments totalling $600 a month. When our cars were paid off, we opened a savings account (at a bank other than the one we normally use) and started putting $600 a month into it. The reason we use a separate bank than the one we normally use is so that we are not tempted to dip into it for other things.
We use that money to pay for any major car repairs that we have. (Simple things like oil changes and brake pads we use the checking account for.)
Obviously we don't pay $600 a month for car repair. It's actually around $2,000 a year. So that leaves us about a $5,200 surplus annually. We use this money to buy reliable used cars - cash.
And the best thing about this is...no interest payments for car loans. You are using your own money. And it feels good.
most conducive to a good night's sleep.