This libertarian socialist prefers to let other people fund the depreciation. If a car's still in good shape by the time it's old enough that I can consider buying it without having to take out a loan, it's likely to stay in good shape as long as I continue to take care of it. Maintenance is expensive when it happens, but a loan payment happens every month, and the loan companies require you to pay for expensive insurance on top of that, so it's a pretty big win to just keep up an old car instead of buying a new one.
As an additional bonus, older cars are far less likely to be encrusted with insecure, untrustworthy, unreliable microcontroller-based nonsense, much less anything so insane as Tesla's over-the-air automatic firmware updates or GM's yes-we-rooted-your-car-in-the-factory OnStar thing.
As an additional bonus, older cars are far less likely to be encrusted with insecure, untrustworthy, unreliable microcontroller-based nonsense, much less anything so insane as Tesla's over-the-air automatic firmware updates or GM's yes-we-rooted-your-car-in-the-factory OnStar thing.