That is absolutely correct. I did not account for rust.
Rust can eat away a car in 10-15 years, at least at latitudes that use salt on the roads. My car is galvanized, which I think was unusual for the 1980s. So I have not had rust problems.
I remember seeing a lot more rusted-out cars on the roads back in 80s and 90s. But not so much anymore. I think most manufacturers started using galvanized steel by the 90s.
Ok, this is from the "Steel Market Development Institute":
"In the 1970s, automotive sheet steel was simply cold rolled, primed, painted, and put on the road. Corrosion resistance wasn’t very good. By the early 1980s, however, carmakers decided it was time to eliminate rust failures in their vehicles. Ten years later, steelmakers had installed continuous electro and hot-dip galvanizing lines, and carmakers switched to two-sided galvanized steel for cars and light trucks. These steps improved the corrosion resistance of steel bodies so much that companies began offering corrosion-perforation warranties."