I myself do fall into that cheap category. I have found that by purchasing my oil filters from Rock Auto, along with other needed items, I can / do save more money on said parts. However, I buy name brand filters. When the oil(s) go on sale, those I buy at the store. Since my ride is older and doesn't have any of that fancy cylinder deactivation system or variable valve timing, it gets whichever oil is the cheaper, and always the basic oil. No synthetic or blends for me.
Last year I had to pull down the front of my engine to repair a blown out timing chain cover gasket. Just under 170 K on the clock at that time. Engine is spotless inside. Timing chain had no stretch to it. The inner cover had a very light brown tinge to it, that came off quickly in the solvent tank. Finished it up with a quick blast from the power washer, and put everything back together. New gaskets, new water pump, new tensioner bracket and coolant elbows, and I am mobile again.
Don't know if I can go another 10 years on this ride before it rots in 1/2, but if I keep going along this same path, it should keep me out of the showroom. That in itself makes me quite happy.)