Older cars are massively undervalued in the USA because of social norms, which is a massive opportunity to anyone willing to exploit it to get reliable transportation for nearly free. People are afraid that older cars are dangerous, unreliable, or (worst of all) will make you look poor, but all 3 are just misinformation.
Boats and airplanes are just as reliable when old as new because they're maintained well- and cars are the same. If you maintain an old car well, it doesn't really ever wear out, and stays as reliable as a new car.
It's also massively cheaper to maintain an old car well then to buy new ones even if you pay someone else to do it. People complain when they get a $1000 repair bill every few years for an older car so they will say "it's getting unreliable" and then consider paying up to $1000 a month for a new one. There is a middle ground where you pay maybe $1000-2000 every year to stay on top of stuff, and it stays reliable indefinitely.
Moreover, an older high end car is just so much nicer than a new car in the same price range. You can buy a well maintained low mileage older but high end Porsche, Audi, etc. for well under $10k on Craigslist these days and you'd have to be a car nerd to know it's not a new model. Is it cheap to maintain well? Not exactly, but it will be 1/10th the cost of a car payment on a new low end economy car, and you're driving a high end car. Plus, when you buy a 20 year old high end car and maintain it well, it will appreciate rather than depreciate in value. My daily driver is an older Porsche, and in 3 years of driving it, it has probably appreciated in value enough to make all of the maintenance, insurance, etc. free- basically a free car if you don't count the space in my garage it uses to keep it nice.