Vinyl is not cheaper than paint in materials, in fact paint can be cheaper if you want to do a single stage enamel. The big difference is it takes more skill and tools to do a paint job. Vinyl is still tricky, it takes some skill. If you want a matte or semi gloss finish it's the way I'd to go. But I prefer paint because as long as it's prepped right and quality materials are used it will far outlast the vinyl job with the proper care.
A good air compressor is something most people have or should have, $50 at HF will get you a DA and a Spray gun if you catch a sale. You can paint a car in the driveway out in the open, in a make shift spray booth of in a garage. Outside its all about timing and pest control. A vinyl wrap requires a good amount of cleanliness as well, it is actually pretty unforgiving when it comes to trash under the vinyl.
[This message has been edited by jmbishop (edited 09-05-2014).]