Cars last longer now, so this may not be as bad as it sounds. The real issue is whether people are ending up underwater on their vehicles - that is, are loan lengths increasing faster than depreciation curves are flattening.
Do they really? I've seen plenty of surveys that say American consumers are _keeping_ their passenger cars for longer and longer periods
(12.8 years in 2025 https://www.spglobal.com/automotive-insights/en/blogs/2025/0...)
But is there any study that says the components or designs are needing less repairs or are getting cheaper to maintain over that 12.8 year period as opposed to, say, an econobox sedan from 2005?
Is a modern family car with GDI, CVT, plastic oil pan, infotainment system, and litany of safety sensors going to last as long without bankrupting its owner as an equivalent product from a comparable market segment 20 years ago?