"it is the lender who loses out if the resale value is less than rejected." And those lenders are linked to the car manufacturers for a large part of the marke

"it is the lender who loses out if the resale value is less than rejected." And those lenders are linked to the car manufacturers for a large part of the market (since car finance is largely a form of vendor financing). Who then book the losses to the cost of a new car, or start shipping off lease cars to Africa. Unlike houses, cars are mobile. So you can correct the market if you have enough power over the market.