No.
Depreciation is something you consider if you intend to resell the vehicle. It's independent of wear and tear. It's a financial concept, not an engineering/mechanical concept. Jeep Wranglers, for example, hold a better value compared to the average even if they have higher mileage and age, especially if its in a mountainous local market.
Wear and tear is mechanical repairs and maintenance. Oil changes, tire changes, spark plugs, etc.
A good amount of people buy a certain car and maintain it, intending to run the vehicle into the ground completely.
If you really want to do the "simple math", don't forget about the opportunity costs associated with the wait times, scheduling around someone else's schedule and delays due to public transit and rideshares. That's where you realize just how much a car actually saves you. I used to live in Seattle and Portland for a few years (each). I bit that poisonous apple of, "I don't need a car since I'm going to live in the city". 15-20 minute car commutes would be about an hour on average on public transit (that's if they ran on time). Never. The. Fuck. Again.