It'll calm down soon enough. Lots of folk have saved up a bundle of cash over lockdowns and can't spend it quick enough. Might be as soon as the end of October, or maybe early next year, but this is nothing other than a blip IMHO.
What makes it so interesting though, is that this has never happened before. Car values, other than classics or the very occasional hot new model that trade over list briefly, have only ever gone one way. Down, and usualy fairly quickly. Covid is a first, and so is this current car market.
I think the fact that saving rates are so low that it makes saving feel pointless, is part of it too. What is the point of keeping the money when 0.4% is the reward? May as well spend it....'YOLO' and all that.
For those that do need to borrow for a purchase, it has never been cheaper or easier to do so.
A unique and interesting time. We should oppen up forum odds on when it will end !!