I am getting interested in the psychology of people who roll over large amounts of negative equity from car to car. He is what I have observed and I’m hoping in addition to others’ observations that we have some posters with a background in psych to tell us the whys. Add your own ideas and critique mine.
Lack of finance management:  This goes on even before the rollover.  They have made bad financial decisions and are thus having to borrow at high interest rates.  Maybe a repo in the past and the car they currently have they cannot afford, hence the trade in.
Victim Mentality:  So often they say the HAD to by that car - forced into it by circumstances.  Also, very often their claim is that by the salesmen letting them sign the paperwork with full disclosures (cost, interest rates, payments, &c.) they were scammed.  Especially bad is when women claim they were using “girl math” whatever the F that is.
Willful(?) Ignorance.  They say they didn’t know how to buy a car or how the financing works or what add-ons they should get.  Dudes!  This is 2025! I can pull up numerous channels that discuss all of this on YouTube.  I don’t think that in 2025 anyone with internet access should be able to claim ignorance on how to do a car purchase or maintenance.
Wrong reasons for buying: Would you buy a new car to do Grubhub or Turo?  People do then try to trade them in after a year.  And speaking of that, I have heard the average is buying a car every 3 years.  These people are taking 7 year terms and rolling the car over after a year.  And some people just want the latest and greatest to impress everyone so they have negative equity but after a couple of years want and even bigger and better car.   Isn’t that what a lease is for.