You live in NYC right? Where public transit is very available (and not excessively pricey compared to the rest of the country)?
Why do you hate public transit so much? And, why, of all places, would you want to drive in NYC? Don't you have enough stress in your life? 😉
As for sinking your entire paycheck into the car, I advise against it. What happens when the unexpected happens (ticket, accident, etc)?