The only downside that I see is the annual increases in costs for a new vehicle. At the rate they are going, in an 8 year period of time, new vehicle costs could almost double. Time for me to consider Colt Hero's approach and drive the wheels off, then replace with a well-researched/well maintained used vehicle.
I'm in a quandary about the lifetime and upkeep that I am used to following for many years. I am not sure it's prudent to keep a vehicle as long as in the past without significantly more maintenance as we might be used to. Up until 2015-16 or so, we could mostly count on the usual battery, brakes, transmission fluid change, suspension parts, maybe a water pump, a sensor or purge valve, a wheel hub bearing, and a few other things that many could DIY.
The newest vehicles are not only more technology laden, but more difficult to address some new problems with them. Add in the trend for smaller, turbo powered engines and things get even more mechanically complex.
The transmission fluid change is no longer a simple drain and refill as is on the 2010 to 2017 Equinox/Terrain. These newer transmissions all take different fluid, and infact, GM has designated changes in them over the past 3 years. The 8, 9 & 10 speed transmissions are not only more difficult to access the fill ports, but much more care is needed to do any drain & fill. The fluid level must be checked within a particular temperature range. And then filled with whatever the "latest" GM recommended fluid is . . . . different for each transmission and much more pricey than Dexron VI.
That is just one example.
With the advent of smaller 4 cylinder turbo engines, we have seen their own particular weak points like PCV orifices or valves. Nothing so much seen on the new Equinox or Terrain so far, but Buick Encore, and some others are sensitive to cold weather operation.
I'm hoping that this all is just a temporary trend which is working itself out now since the advent of Gasoline Direct Injection and now small turbo engines. On that note, I just don't see these small turbo engines being as durable over 8 or 10 years as the older non turbo engines or a V6 engine.
Even the earlier mentioned suspension, alternator/battery, and some other things are not cut and dried repairs. Care must be taken in choosing the correct parts for the particular vehicle and replacement procedures.
And, if one or more control modules (ECM, BCM, TCM,VCM, etc), have to be replaced, even if you replace it yourself the dealer or service shop is needed to program and merge it with your particular vehicle and options. Even a simple radio replacement can be an issue. Some have had dealers replace a radio and it never returns to a fully functioning device even with factory help.
On top of all this added complexity is the trust we must place that service technicians are up to speed, savvy, and meticulous enough to repair our vehicles properly. All at the same time of facing dubious compensation tactics dealers now are using. The simple oil change, if rushed, can be a problem as we have seen voiced by two members here regarding that.
It really seems to me that a vehicle may just get too costly and complicated to maintain and repair after 8 or 10 years. I'm not sure how that bodes for the used car market unless some ingenious types come up with new creative DIY ways of doing things.
I bought a number of used cars and trucks in the past and it served me well. The way things are now, research is ever more important since one year a brand or vehicle may be fine and the next it may be a repair nightmare.