In the given sentence, "the car" is the direct object.
Step-by-step explanation:
In the given sentence, “want” is an action verb i.e., a verb that needs a receiver of the action. A sentence which has an action verb but not a direct object is baseless.
The direct object talks about whom or for what the action is done. So, in this case, the car was wanted by “we” , thus making the car as the direct object. And, the points to be remember is that direct object should be pronoun or noun and not be as prepositional phrases.