I think there is a discrepancy between people that buy new, or fairly new cars, and people that buy end of life cars.
Having bought news cars in the past, and see nearly £20k in depreciation over 5 years (same time I bought a holiday home for £36k). I decided that end of life cars were better value.
So far the total costs for the last 20 years has been less than the previous depreciation (I do drive like my Mother these days and can get 100,000 miles out of a set of brake pads, they used to last 5,000 miles).