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> prevent americans buying cars on finance that they are never going to be able to afford

The issue is that "Making finance accessible to low income Americans" and "predatory lending" are approximately two sides of the same coin. And so it is not politically popular.

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That's part of the narrative for the financial crisis. Even without waging that particular fight, it's important to remember that, for a long time, there were plenty of barriers to full participation that had nothing to do with the individual's ability to afford something. Redlining is probably the best documented of these practices.

Every creditworthiness measure is subject to some bias. Most practical ways of tightening lending is going to end up with some correlative demographic being disproportionately excluded.

Lowering the cost of repossession lowers the risk/cost to lending to low income. It's good for the poor.

In theory it should but I’m practice it probably won’t since the market isn’t actually competitive

Yes, I agree with that.

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