I've kept mine from new for 13 years, 10 and 12 years counting. 130,000 miles, 100,000 and 90,000. I got two degrees in mathematics and consider that I know what I'm doing, Obviously those that keep buying new cars or changing via whatever means have the thrill of owning something new at a cost. Then there are those that buy secondhand that have the thrill of the bargain and buying something that may have an unknown issue.
I can't say myself that the cars I've owned really got unreliable with age or really that expensive until you get to the point of a failure or fancy something new. Dealers wiggle out of warranty where they can. The depreciation cost is going to be built into those
PCP deals in one way or another. Be interesting to correlate those people that use
PCP and also rent a property, living for the here and now but not having the security of ownership to tide you over any rough patches where income and expenditure are out of balance. A lot to be said for ownership.
It's an interesting consumer subject.