The "value" falls off quickly and dramatically though. Unless you have a desirable car that is well known to be just as good used as new (examples: Tesla, Jeep Wrangler, etc.), the second owner isn’t likely to get much of anything for it. If they bought it used at 3 years old, they probably paid 80% of the price it was new, and the dealer probably paid the original owner 60% of what it was worth new. If they hang onto it long enough to pay off a standard length auto loan (5 years) and drive it for a bit after that, you’re probably looking at a ten year old vehicle. They aren’t worth much to trade in. The dealer will pay you 5% of what it was worth new. At 20 years, be happy that they’re willing to dispose of your car for free. I’d be lucky to get a dealer to give me $2k for my ‘04 expedition, but they’d only give me $5k if it was a ‘12 with half the mileage.

That all being said, most cars in the US aren’t replaced because they’re not working or serviceable. People get bored of driving the same car every day. Either that, or they don’t trust a car after an accident, or the insurance company declares your car totaled because they think they can make a profit by fixing it a bit and selling it in a country with less stringent safety requirements.

I still drive my SUV because I’m a 6’4 dude who has a lot of trouble finding a comfortable vehicle. Most crossovers have my knees jammed into the dash or the entertainment system.