Earlier quoted context omitted.
> There isn't any data on this, but I think it's safe to assume that younger people that also have student loans don't own their vehicle outright I dunno, having an owned-outright used beater seemed normal among my peer group when I was in/just out of college; having newer, better (relative to contemporaries) vehicles with financing is more common now that we're very well into careers. You can get a student loan with…
Emissions testing makes owning a beater risky.
Specifically, it looks like several states exempt from testing cars from the mid 90s and older. Lots of those still on the road.
[0]: https://en.wikipedia.org/wiki/Vehicle_inspection_in_the_Unit...