http://www.eea.europa.eu/data-and-maps/figures/average-age-of-road-vehicles
In 1995 the average age of a car was 9 years. In 2009 it’s 8 years. A car salesman told me the average car he’s seeing was being turned in at 13 years. Meaning you’re right that those cars are being turned in. But there’s still and will continue to be a shortage of cheap used cars due to Cash for Clunkers. It will probably take five or six more years for things to even out and the “cheap” car to return. But wages have remained stagnant while the purchasing value of a dollar has declined 60% since 2008. It will remain difficult for the underemployed young person to buy a car for the foreseeable future.
there will be no more cheap cars. Regulation and computers required by the government will cause cars to have to be junked.