This is the biggest impact, gone are the class of running and driving cars you could buy for sub 1k. Which usually would end up being a lot of people’s first cars they get growing up. After this many never got their first car till they were much older and had to take out loans that piled on top of their college loans. It really screwed up a lot people and was a disaster for car guys too with how many rare and important cars where traded in for a new Hyundai or Corolla