My car is about 20 years old. In my country it's far more normal to buy a cheap car outright (say 2.5k USD) rather than get a lease or a loan for a new car (say 25k USD).
There's nothing wrong with it, i'm not sure why i'd want a newer one.
Hi from cross the Tasman! My daily driver is a 1988 Mazda 323 hatchback. It cost me $900 and had just had the autotrans reconditioned and a new radiator before I bought it. I recently put new front break pads in and will do the rear breaks shortly.
For my own personal, and endless, amusement: I paid more for my phone than I did my car.
Crash protection, that's why. A new car will let you walk away from a crash that your 20-year-old car will maim or kill you in. Crash protection is that much better now.
There's nothing wrong with it, i'm not sure why i'd want a newer one.