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It may depress the price of newer used cars. The people scrapping the old cars and buying new ones are probably the people that previously would have bought a used car. I know a lot of people buy a new car and run it forever, but most old cars are owned by second, third and fourth time buyers.
I know that virtually all my car purchases have been "distress" purchases. The old clunker died and I bought whatever was available in my price range (never very high!).
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