So is everything else whether you own a home, trailer, motorcycle, or anything else thats considered taxable property.
I'd rather have a new vehicle that I can operate with no repair costs other than routine maintenance, rather than an old one I have to keep pumping cash into to keep it on the road. I've kept a record of all my tundra yearly costs. It exceeded what my new tacoma cost to operate every year, plus when it came to what it was actually worth...that was another kick in the ass. Its one thing if you can't find a way to afford a new vehicle, you have no choice, but to keep throwing money into it. Trick is to find a good used late model vehicle that was just traded in for some odd reason. I've gotten burnt on those too. Usually buying used is buying someone else's problems.