Here on the bangernomics forum we know there's more than one way to approach the practice. So, rather than looking at particular examples, I thought I'd have a go at delineating the different strategies.
Casual bangernomics: You just buy a car that's not new. The more depreciation absorbed by the previous owner, the better. Exactly how old or at what price a vehicle could be considered bangernomical is debatable, so I won't attempt to specify. Maintenance and repair is outsourced. This approach has the slimest potential for savings, but is also the lowest commitment.
Amateur bangernomics: As above, but owner is more inclined to have a good at taking care of things themselves. Small/easy operations such as changing lightbulbs, oil and filter changes, etc. are tackled by the owner. Larger/more complex operations (clutch replacement, timing belt change, etc.) are outsourced. A good balance between cost saving and convenience.
Pro. bangernomics: Virtually all repair and maintenance performed in-house. Vehicles are usually well into their twilight years now (10+) as these individuals take cheap motoring quite seriously and seldom settle for anything short of zero depreciation.
Extreme bangernomics: Nothing but the cheapest thing on wheels will do for this majestic penny-pinching crusader. Vehicles are of scrap quality, often purchased with no MoT, and are brought back from the edge using well developed engineering skill. Not for the faint-hearted and comes with a high risk of acquiring a money pit. Top-dog for bragging rights though.
Classic bangernomics: Not an obvious approach to saving money as classic cars often have temperamental reliability, low fuel economy and have long passed their lowest value. Does have some merit though as the vehicles are depreciation free (might even appreciate slightly if you're lucky), easy to work on (so long as we forget the bane of every classic car - rust), some get tax exemption and parts are often cheap due to simple design. Only really works in low mileage scenarios.
Heirloom bangernomics: The rarest form of bangernomics. Vehicles are kept within a family and passed through generations. A high initial purchase price doesn't phase this long term strategy. Better make sure it's a car you like though.
False-economy bangernomics: the idiot who buys a car on the cheap but thinks it's clever to not maintain it. Vehicle falls into an unusable state of repair, usually within a year, and the cycle repeats. Has the initial appearance of money saving, but is actually very wasteful and inefficient, hence the name.
Share your thoughts on how you approach vehicle ownership. Any broad strategies not covered?