Around COVID, the used market went insane because the supply of new cars got fucked up. People really liked that their well-used car was getting a high price and now new sellers want a piece of that. Kinda like how someone is told their house is only going to sell for 2x what they paid instead of 3x and they throw a hissy-fit.

So used cars are also really expensive, which is…fun. Couple that with the insanely toxic car culture of the US and you get a perfect recipe of sellers over-pricing and people who are FAR too eager to pay those prices. Market pressure almost doesn’t exist because that would imply people actually have choices(to own a car) or willpower(to maintain what they have).