People are falling behind on their car loan payments because of car breakdowns

During the pandemic it was hard get ahold of new and low milage cars, so a lot of people purchased older cars that have a tendency to break down and need substantial repairs. These breakdowns and high mechanic bills are resulting in people falling behind on their car loan payments.
The delinquency rate on subprime auto loans recently rose to its highest level in more than a decade.
In 2022, households spent an average of $800 per a car on average in maintenance and repairs each year.
19% of used cars that were registered in 2022 are between 8 and 11 years old versus 15% in 2018.
11% of cars that were registered in 2022 were between 0 and 3 years old versus 14% in 2018.
A lot of times when a vehicle breaks down shortly after being purchase, the purchaser just stops paying the car loan. The lender often has to eat the loss between the value of the loan and the actual value of the car.
Works Cited:
https://www.wsj.com/articles/car-breakdowns-are-making-more-people-fall-behind-on-their-loans-15ed18b5?mod=hp_lead_pos8
https://www.wsj.com/articles/more-auto-payments-are-late-exposing-cracks-in-consumer-credit-3cbc2382?mod=article_inline