I can’t speak for others, but if I have a good car that is running well, why trade it in? Anyway, the older cars are simpler, and until repair costs become too high, it is worth keeping them.
So, my daily driver is still a 2002 VW Golf TDI with about 180,000 miles. It is easy to park in the city, and I don’t mind accumulating a few dings and dents.
As far as modern conveniences, for a few hundred dollars, I replaced my factory radio with one that has USB input, bluetooth and satellite radio.
My post was strictly concerning the current cost of a vehicle.
I, too, usually buy an older used vehicle. The 1990 Mazda 626 I mentioned was bought new to replace a 1974 Dodge Aspen which continually died in the middle of an intersection. The Mazda, unfortunately, was not immortal. It died after someone pulled in front of me from a side street. The Mazda had recovered from being hit by a drunk in a 1978 Olds 98 and a deer on the I-85. This time the impact wrinkled the roof and I could put my hand between the door frame & body with the door closed.
The Mazda had 426,000 miles on it. It went 359,000 on the original clutch disk. Good car!
Our current vehicles are a 2004 Honda CR-V 200,000 miles, a 1997 Subaru Outback, 236,000 miles and a 1998 Ford E-350 with 298,000 miles.
”Use it up, wear it out, make it do or do without.” To that I would add, keep it running as long as resonably practical.