Ultimately, I see this as a good thing. It's a waste of resources to have vehicles that don't last 12 years. And ultimately I think vehicles as a status-symbol

Ultimately, I see this as a good thing. It's a waste of resources to have vehicles that don't last 12 years. And ultimately I think vehicles as a status-symbol is really wasteful. At least if you spend that money buy a nicer house the value will likely increase rather than go to 0.