I have not had a car in years and have never felt so free. No payment, no gas, no maintenance and no insurance. Granted I live in DC and I can Metro just about anywhere.
This is true for the people who have to have the newest and shiniest car. Buy a reliable car and drive it until the wheels fall off and it's literally the opposite of poverty trap.
The above said I do agree with the sentiment. I've seen very very expensive cars sitting outside of trailers and other hovels that I wouldn't go anywhere near. I'd rather have a crappy car and a nice house.
I have a "nice" car now because I drive for a living and besides it being good for business to be driving something not falling apart, I spend enough time in it that I should have something comfortable.
I lived for years without a car but sadly most of the country isn't amenable to biking, walking, bus, etc. I now live in what I call country'ish and if you don't have a car, you're straight fucked. No car means no way to get to stores, work (assuming you don't work from home), etc. Now I drive for a living but we would still need at least one car in our household if we didn't want to continually over pay for groceries being delivered, need to go to Dr appointments, etc.