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We do not hold debt on depreciating assets, like cars, and so far our kids are doing the same.
One consequence of the current "economic policies" is that used cars are going up rapidly in value. As a result, today I am selling my 2018 Honda Clarity for $20200, not much less than I bought it for in 2019 (about $26K after various EV rebates). Moving to Lisbon where I won't need a car, and wouldn't suffer the Trump Tariffs if I bought one anyway, so all good. I paid nearly as much in car insurance as I did in depreciation, over the lifetime of the car.
