So long as banks will lend money.... I really don't understand the idea of borrowing a crap load of money to buy a DEpreciating asset, then pay interest for the "privilege" to do so, and doing this repeatedly until you die. But lots of people do just that. What is really crazy is when some of these new vehicle lose value so much right away, that they are upside down by in some cases tens of thousands of dollars for the first couple years.
I've gone both routes buying used, and buying new. The problem with new is exactly what you stated. The problem with used is sometimes is difficult to know exactly what you're getting in a vehicle, and mind you I grew up work on cars wrenching on them starting at 7, with an auto-mech in the family teaching me everything through. I know you can check history, accident reports, supposed maintenance and etc... But sometimes someone says they did something on paper and it was never done... and there is a sweet spot for used cars where it makes sense and sometimes its just lunacy. So I've had great luck with "low" mileage VW/ Audi diesels -- my Q5 started at 48k, and my golf 60k... both ran well for the time that I had them. I had great luck with my 1998 Mazda B4000 w/ 232k miles on it when i purchased it in 2007, just did maintenance items, ball joints, 1 u-join, breaks tires, and the such truck was still running at 347k when we traded it in. I've had TERRIBLE luck with a 2001 civic ex w/ 223k miles put 4k in parts into that car in 1 year alone nevermind all the time to fix crap. My wife's 2011 WRX which started at 104k miles, and is currently at 156k miles has been a train wreck financially... we literally could have bought a brand new STI it would only have 50k miles on it... and we'd be AHEAD lets put it that way.
I guess what I'm saying is everyone's mileage will vary. But heres the thing to get that 2-4 year old car w/48-60k miles, someone has to take the hit on it, and now you down usable mileage.... I figure all cars as yearly cost of ownership including purchase price... My current Q5 is stupid financially, but had I bought like a Kia Forte, a Jetta, a Standard Tiguan, or etc... tons of different new cars the cost of ownership is way cheaper. Example: A friend just bought a Toyota Tacoma for 35k, he plans on selling it in 2 years and because of that vehicle it will only cost him a total of maybe 2k per year when all said and done.
Another is depending on the depreciation of the car .... So if you buy a Subaru or a Toyota Tacoma, just buy new. Buying used you save maybe 2-3k to now have 70k+ miles on the car, many other manufacturers depreciate much faster, from what I hear Tesla depreciation is similar but i don't really know....