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Exactly.
You should be able to do 150k in a modern car. A quick look says Howard should be able to get something with 50k for his money. 10k pa means another 10yrs out of it.
Also I'll just repost this classic
https://www.mrmoneymustache.com/2011/04/19/how-to-come-out-way-ahead-when-buying-a-used-car/
hugo7
Surley if you buy 2nd hand you keep for more than 4 years. As you'll knownits a good car and run it into ground.
Thats when the maths then works good.