Price crash wouldn't help, it would hurt as many people overleverage to purchase a car - and that asset, while on a financial point of view DOES depreciate, man

Price crash wouldn't help, it would hurt as many people overleverage to purchase a car - and that asset, while on a financial point of view DOES depreciate, many people are very well unaware at what rate, and most likely traded in an underwater loan, to get another car (negative equity) and are more and more overleveged. With the past year, most cars appreciated in value on paper, only because of supply and demand and money inflation - that's it. There is also very much a housing crisis and a huge population that do not have a house, and need to juggle the rent payment, the car payment, the insurance payment and well it seems unsustainable. tl;dr you assume that the price of the asset is the same when repo'd, that is not true, very much the asset itself can be worthless if there's default across because it means there's no demand or need for cars.