I think this would really depend on your whole life and financial picture. When you're in debt repayment mode, or meeting minimum savings goals mode, anything to trade time for that sorta money is generally a good option. But if you're in accumulation phase and you have kids at home, that sorta thing? It totally shifts the picture.
Definitely price out everything: car payment, car insurance, do you have to pay for parking where you live? where you work?, gas costs, maintenance, does boston require DEQ testing?, would you need to renew your license? If you take a low level of coverage, can you afford to replace the car if its totaled? Lots of questions, lots of possible costs with cars.