There is nothing quite so expensive as a brand-new car that comes complete with 60 big monthly payments. Every day, it seems, I hear from readers who are saddled with those kinds of jumbo monthly car payments. They may look good driving around in their fancy financed vehicles, but those monthly payments are nearly killing them. They feel stuck because as long as they're committed to a couple of $650 monthly payments, they believe they are hopelessly stuck.

There are times, rare though they be, when buying new might be advisable. But generally speaking, the cheapest way to own a car is to buy a late model, used, domestic car with cash.

How can you possibly do that when you don't have a lot of cash to get started? Great question. The answer is found in these two simple rules:

Rule No. 1: Pay Cash.

Rule No. 2: Always Make Payments.

I'll bet you're confused. On the one hand, in Rule No. 1 I'm telling you to always pay cash for your cars. And in Rule No. 2 I am telling you to always make payments. Both principles are true.

Here's the deal: You must adopt the attitude that as long as you intend to own a car you must anticipate the cost by making monthly payments to yourself. Unlike a home that appreciates, cars depreciate, so you must always anticipate a car's replacement. Anticipate your automobile needs by making car payments to yourself. This way, you will always be earning interest, not paying it. You make payments even when your car is fully paid for and even when you are fully satisfied with the car you are driving at the time. Why? Cars depreciate and wear out. Never forget that. You must always be anticipating your next car.

Anyone can do my plan to become a cash buyer, but you have to work up to it. And you must be willing to endure a certain amount of sacrifice in the beginning to achieve a greater reward later. This is where I tell you that you must let go of your pride. You must stop worrying about what anyone will think about what you drive.

Start with a clunker — the very best clunker you can buy with the cash you have. Let's say that all the cash you have is $1,200. This will not get you a pretty set of wheels, but if it runs, hey, that's transportation.

Now, let's say that before reading this, you believed you could cover $200 monthly payments on a new car. Great. Start making those payments to yourself now. This month. Yep, $200 every month into your car account. And for as long as you intend to own a car.

At the end of one year, sell that clunker for, let's say, $900. Add that to the $2,400 you've saved (can you believe it? You have $2,400 in your car account after only one year) and go out and find the best $3,300 clunker you can find ($900 plus $2,400 equals $3,300). For cash!

Keep making those $200 payments to yourself. At the end of that year, sell the better clunker for, say, $3,000 and add that to the $2,400 in the bank. Now go buy the best $5,400 car (you've just graduated from clunker status to fairly decent automobile) you can find.

Keep doing this every year until you have enough cash to buy a brand-new car with all cash. It will happen if you are diligently following Rules No. 1 and No. 2.

But wait, you say. Isn't that a poor use of money, to buy a brand new car that will so quickly depreciate? It sure is — and you never would've asked that question until you had $25,000 cash in your hand.

I'm going to predict that when that day comes, you won't want to spend that much of your own cash on a new car that will be worth about $20,000 the minute you drive it home.

So I suggest that you take your cash and buy the best late model, domestic (cheaper to repair and maintain than any foreign beauty) used car you can find. Keep making those payments to yourself, and you will be an all-cash car buyer for the rest of your life.

Congratulations!

Mary invites questions, comments and tips at [email protected], or c/o Everyday Cheapskate, 12340 Seal Beach Blvd., Suite B-416, Seal Beach, CA 90740. This column will answer questions of general interest, but letters cannot be answered individually. Mary Hunt is the founder of www.DebtProofLiving.com, a personal finance member website and the author of "Debt-Proof Living," released in 2014. To find out more about Mary and read her past columns, please visit the Creators Syndicate Web page at www.creators.com.