[grrrrrbox]

Price is a necessary but not sufficient requirement for quality, but that's no reason to throw out the idea. Harbor Freight is also not a bottom-barrel brand these days.

Cars are actually a great example. $30k will set you up with a Camry hybrid for >20 years. If you can only afford to finance a $15k econobox, you'll end up paying extra on interest, maintenance, and fuel while your car spends more time in the shop.

IMO this theory gets unfairly maligned by a strawman of "price == quality".

[buescher]

Cars are a great example when you compare just about any used car to being able to finance a new $15K econobox - the econobox will win on TCO. (And at low interest rates, you are better off holding on to your cash and financing). But not when comparing new cars. A $16K Chevrolet Spark LS has a five-year TCO of $26460. Your Camry Hybrid LE (at least twice as much as a Spark in cash outlay) has a five-year TCO of $31903. The Corolla L, which is a sort of benchmark of frugality, has a five-year TCO of $28814.