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Used car prices are have been slightly going down each month the second half of the year. By late 2023 used prices will probably be back to normal but adjusted for inflation of course. If you don’t believe, enter your vin on caravan, vroom, carmax or your local dealer. The ridiculous inflated prices they were paying for used cars are no more now. Because of this private sellers will have to drop their prices as well. There will always be a delay before the “savings” make their way to the customer but they eventually will. The only thing I will add is for specific vehicles, it has not begun to normalize yet. For example zl1’s are still bringing in a premium and so are corvettes (especially z06’s). These specialty vehicles might not ever normalize but we will have to wait and see.
I agree with a poster above about new vehicles. That might not be fixed until 2024/2025 because of supply chain issues. I hope I’m wrong about this but we’ll see.
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