The used car market got pretty crazy there for a while due to the covid supply disruptions. 3 year old corrolas with 100k mileage were selling as much as brand new ones! Why? Because you had to wait 9-10 months to get a new one. So a few years ago anybody who needed a car, whether new or used, was paying a lot. A few years later with more inflation in prices and none in wages, its not surprising to see some of these loans start to default.