Thoughts on expanding Dave Ramsey's "Free Cars for Life" plan

Dave Ramsey's website has a neat video on getting "free cars" for life after six years of paying no more than you would pay anyways for the payment on a new car. Sadly, I can no longer find the video - so no link.

Basically, instead of buying that shiney new car you want, you buy something much cheaper for second hand with the cash you already have on hand. You may need to save a couple of months to get this cash. You drive that car for 11 months, and for those eleven months you put the amount of money you would have spent on the new car's payment into a money market account. Then you sell the old car for about what you paid for it, since old cars do not appreciate very fast, and use the money you saved to buy a better used vehicle. You drive that used vehicle for about five years, and continue banking the amount you would be spending on the payment for a new vehicle into the money market account. By the end of the sixth year, you should have enough money in the account that you can buy a new car, and the remainder of the money in the account will earn enough interest over the next six years or so (I don't remember) to cover the cost of another car.

The idea isn't perfect - if the market does bad for six years, you won't have your car money. On average, it should work out, though.

I like this idea. We don't care about nice cars in our family, since we know we could do without a car if we had to. However, we love our computers and tech equipment. We really want to get fresh equipment, but once we "stock up" we could try doing this with computers, LCDs, printers, etc. Honestly, this idea could work with anything you could do with less of for a while. Save the difference somewhere where it gains interest, live "like a refugee" for a while, then draw from the earnings to live like a king.