Yes, very affordable. Yearly mandatory insurance, without any discounts for crash-free driving (as I doubt they'd honor insurance histories from foreign countries), is perhaps about $300. Mandatory yearly checkups are $30. Cars themselves are a bit pricier than in US - mostly due to VAT being higher than US's sales tax I guess. But, maintenance is way cheaper - there's plenty of cheap and skilled mechanics who will improvise fixes using scavenged second-hard parts (which they themselves will provide). Rebuilding an engine will cost you perhaps under $400 in labor, while I suspect it's in thousands of dollars in US.

Gas is currently $5.5 per gallon. Most people drive cars with low fuel consumption, so they're easy to get on second-hand market. Also, if one is particularly stingy about fuel costs, it's popular to own cars fueled by LPG. LPG is currently $2.5 per gallon.