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We’re doing this at the moment, when we moved overseas we didn’t want loads of cash tied up in road cars and bought a rough but mechanically decent car for £1500, it’s needed £500 of work in the first 8 months we had it in preventative maintenance, and I’ll have to do the front brakes soon, but you can make it work if you’re not too fussy about aesthetic condition
mcmyk
lynx
Bangernomics can be quite cheap if you can do basic maintenance and don't mind driving a fairly old car.
When I last looked at Zip vs car ownership, I guestimated that cost of owning a reasonably reliable budget car was circa £3k per year.
As has been said above, the main attraction of having your own car is it's there when you want it, the faff and inconvenience of hire cars and zip cars is avoided. I decided it was worth paying for that.