[Crazy Dazz]

If you hunt high & low long enough, it is often possible to come across genuine bargains in the private market. But you need to be ready to move quickly, because you're not the only one out there hunting for a bargain.

But as for offering well under what they're asking, the problem is that you need to time it right. You don't want to be the first (or even 2nd) person to tell them, because they will resent you. Unfortunately people are not logical.
Seller advertises his car, at too high a price. 10 people come and look, realise he's overpriced it and walk away. You come along and finally tell him the truth. YOU are the one he gets upset at.
You need to come in after others have already softened him up.

As for current prices, I have seen some softening, but not much. We found a good price of a 1yr old ex-fleet Equinox, but the pricing seems to be combination of the model being relatively poorly known, Holden existing Australia, covid related lack of demand, and this dealer wanting to move volume.
The thing with dealers is that they simply adjust to the market. If prices are down they pay less at the auctions and sell them for less. Unlike private owners who will tend to hold on to them.

And sure, there have been a lot of people royally screwed by this damned virus. But IMHO not enough to really drive car prices down substantially.
Especially now. There has presumably been reduced demand, over the past 6 months, but the bargain hunters are now out in force. Would be sellers I think are mostly holding on.

And it depends on what you want. Yes, run of the mill Soccer-Mom cars have moved with the market, but desirable cars seem to be holding up.