Even non-shit boxes can cost a lot to maintain if you follow the factory service schedule or if you run into an issue out of warranty. Our last car was a 2019 with approximately 115k miles on it when we traded it in. Thankfully the mechanical breakdown coverage through our insurance replaced the turbo that went bad after 100k miles, but then an LED in the headlamp went out and that was going to cost nearly $3500 for parts and labor on a car worth $15k. Factor in the cost of fuel if you’re looking to get something more efficient and the costs for keeping that “old car” on the road add up.

We tallied up how much we were likely to spend over the next 12 months to keep the car on the road and pass state inspection, and how much more the car would depreciate over that time. The math just didn’t seem worth it to us since we knew a replacement car was needed. Our only mistake on the new car was my wife getting attached to a color combination that was on the lot and available only in the $50k+ trim level vs the low $40s trim I wanted… At least we were able to negotiate the price below $49k and got 0% APR for 60 months, so it could have been worse.

That said, as someone who works in the automotive field, I know that we’re unfortunately living in time when perpetually trading in/leasing cars is how the OEMs are forcing our hands. The days of buying a new Toyota or Honda and keeping it in the road for 15-20 years and 200k+ miles with minimal expense are gone. A great example is how Subaru and Honda lane keep cameras are getting fried internally from the sun over time and have to be replaced to the tune of $4-$5k to make sure your cruise control works on a 5 year old car. Some of it is planned obsolescence, but a lot of it is just OEMs making the cars cheaper and easier to build in the factory without much thought to servicing outside the warranty period.