>Do the bolts loosen, does metal bend, or is it something else?
Yes, yes and yes.
The drivetrain of your car is a collection of moving parts, and these need checked and adjusted periodically. Every time you hit a pothole or bump up a kerb you are putting a force through all the bolts and members which will cause them to eventually weaken and bend, and all of the wearing parts of the system like the bushings and bearings will be slowly wearing and loosening over time.
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