"Vehicles are machines, they depreciate in value and thus
any "Equity" is eventually lost."

I bought a 1970 914-6 in 1973 for $4500.00 cash. In 1981 I sold it for
$8500.00. If I sold it today in the condition it was in in '81, it would
fetch at least $25K.

The man who sold me my van had $11K invested in it when he sold it to me for
$15K. If I sold it now I'd get close to $20K.

A lot of vehicles do not depreciate in value. It isn't a given.

bob
on the other hand, my daily driver '96 Passat GLX will have trouble
retaining any such value