There is also a history to usury laws, whose circumstances do not really apply anymore.
In 1800, in a small farm community, if your plow broke at planting time you did not have much time to waste to avoid missing the season and going hungry. And you did not have many choices either. A local lender could charge you an amount that would be impossible to repay and you would lose your farm. And he may have been the only game in town.
The morons in this article had many options. Public transportation. A lease. An inexpensive used vehicle. If they default, they can seek bankruptcy protection and shield their assets. And they'll never go hungry.
This is very similar to the circumstances of Shays' Rebellion.Very interesting read at link.