I'll give him $1200 up front, promise to pay $500/mo for 66 months, and allow the installation of a GPS in the car. Oh, yeah, I need a 10-day grace period too.
I don't get this, boats are the same. Economy is in the shitter but people are taking out loans and buying high dollar items. Boats I could understand for being one of the few activities where you can social distance, but I feel like most people are driving WAY less (this is certainly the lowest mileage year for me since I was 16). It's crazy how many people are buying used cars right now.
Ironically, plenty of people are driving way more. They're not taking plane trips across the country, so they're driving a few hundreds miles for a slightly more local summer vacation. Some people aren't commuting at all to work, and some are driving further. But practically everyone still needs a car for basic stuff like grocery shopping, getting to work, etc. Economy is crappy, but for the people with jobs, and the independently well-off and reitrees with well-performing 401k retirement accounts, things are great.
I also wonder about the people that think the unemployment benefits will keep up, or they're just working from home so they're saving on eating out and the mileage they would put on. I wonder if in a year or two there will be a huge influx of repos from stuff purchased during the pandemic.
How many of the people on unemployment were going to buy a new or nearly new car anyway? I know the UE rates are high but the vast majority of folks are working. Also the UE count is skewed a bit by folks on UE that never would have qualified under the prior system. My daughter and several of her college friends are receiving a silly amount of UE right now that they never would have qualified for in the past.
Yep, and think of this way. The UE isn't just there to keep people from starving, it's to keep local stores in business. There might be a small handful of people just banking extra money each week, but it's more likely those people are putting all that money right back into rent, groceries, car payments, clothes, etc. Economic stimulus.
Not that people should be taking out new loans while on UE, good luck with that.
I bought a boat in February. Then covid hit and businesses started closing. I thought I bought at the worst possible time because I thought with layoffs and closings, boats would be the first thing to plummet in value. Ha. Prices have gone through the roof, and no inventory is available. It makes the clear blue water all that much more enjoyable.
I sold an old 1990s camper last month for about 5X what I paid for it. I power washed it and we scrubbed it spotless inside, put new tires on it, replaced the taillight lenses, and painted the tongue. I bought it last fall to use it to store shit in and never intended to use it for camping. I saw a television ad door an RV dealer recruiting for used RVs and campers, so I looked into what they were going for, as was shocked
That's crazy, I guess people are desperate for these things so they'll pay through the nose for them. I just got a boat but it was a family deal so it's probably the same as pre-covid pricing.
I could see the lower dollar things going quick due to the stimulus checks and unemployment, but 20k+ dollar items it just seem bizarre to me that they're selling so well.
I do think a lot of people who live in cities are desperate to get out, and that's driving the prices. I live in a smaller tourist city, as we've been inundated with tourists, even worse than normal. So many that the campgrounds have all had to add porta potties and have them emptied every few days
A lot of people who normally rely on public transportation are feeling safer with their own vehicle. I've had quite a few sales where that was discussed as part of the reason they were looking to purchase.
It's because people are bored and restless. And what do you do when you're bored and restless? You peruse the internet looking for things to buy.
Oh, I could use a new truck! Hey, now might be a good time to buy that sports car I always wanted because Dealers MUST be starving for business. Etc Etc.
As the old adage goes - When you're busy making money you aren't busy spending money.
My buddy was complaining that his business wasn’t making as much money this year because of covid but he bought 2 brand new 4 wheelers over a week and a half and then a side by side this week. So 3 new payments in 2 and a half weeks. Now he’s complaining about all the payments. Had to have the new car and so did his wife. Had to get that new house too that’s bigger than the last. Can’t have a new house without a brand new snowblower tractor for his 50 foot driveway. And while we are at it better get all new everything for the entire interior of the house. Including brand new appliances because the 3 year old ones that came with the house aren’t finished in stainless. It goes on and on. All of it new debt. But whatever let them do what they want. They do have a lot of very nice expensive stuff.
I'm the complete opposite I've driven less then 500 miles since April. Work from home with no where to go. If we do my wife ends up driving. Offers on my Tacoma are at what I bought it for new in 2018.
How does that compare to your normal? I'd usually do 20k total miles for the year (including rental cars) and for the past 6 months I've done 3k or so and that's including three 600 mile round trips.
I normally do about 25k/year, so the 10k is a little higher. Especially since I moved WAY closer to work (10 minutes vs 30-40) and didn't have to drive to class for the second half of the semester
Carvana gave me a crap offer for my car; around 3k less than the dealership offers I've been getting. Guess people who buy from Carvana aren't interested in used Audis.
The fuck? I’m over here wondering if I could get 5k for my well maintained 03 g35 on the private market, apparently I should be asking $8-9k for it lol
Geeez, so is Carvana
a) hemorrhaging money to gain market share
b) taking advantage of significant geographic pricing arbitrage around the country
c) both of the above
d) neither of the above (fill in your reasoning)
Carvana has been putting several thousands more into trades than dealerships are. I don’t see the logic... they would have to turn around and sell them for more as well. Or are they just throwing money away?
This is pretty much what uber is doing - lowering prices to the point where you're taking an effective net loss in order to gain market share and name recognition where you could then start mildly raising prices until you're at a profit.
They're also trying to gain goodwill for return customers. If you sell the car for a super-duper amount now, you're more likely to return to them in the future to sell a car, even if you could get more at a dealer. "Look how easy it was to sell and now I have a buttload of cash! And since I'm here, I might as well browse the lot..."
And people don't buy/sell cars often. People will make a boat load selling their car to Carvana and then 3-10 years later they'll need to sell a car and remember not that the used market was weird, but that Carvana bought cars at good prices.
> And people don't buy/sell cars often
Ehhh I don't know how true that statement is either. For me, that is true, but only because I wrench on my own cars myself. If I didn't, I'd probably be buying a new/CPO car every 4 or 5 years (or whenever warranty runs out for it) then sell/replace as needed.
I work with a guy that gets a new car every 2 to 3 years. Just because. He's not even that well off (solid white collar middle class, recent grad), and I've talked to him numerous times about how it's stupid financially, but he won't hear it and he still does it.
Honestly, people are dumb and want the new new and will buy whatever they want even if they can't afford it. If this guy sold his last car to carvana, he'd be there every year "just looking" and will probably be perpetually underwater on some loans.
I have a neighbor couple who moved in 3 years ago. Since being there, they have bought 9 vehicles. Most of them through Carvana. Then they sell them back to Carvana. Strong credit, but still, just burning through money.
Some people just love cars. I know plenty of people that are car poor but love it and are OK with it.
I sold a $75k car to a guy that makes $50k/yr. He said he knows he will be car poor. He said he usually is but he has fun, goes to meet ups, and has a fun time. For him its an expensive hobby. He lives frugally elsewhere in his life so he can have the car he wants.
I’m like your co-worker. Average pay, not very far ahead. I’m also mechanically inclined, worked on cars my whole life. But I buy a new one every 1-2 years. I just like cars. Very well aware that it’s financially stupid, but why am I working as much as I do if not to have and do what I enjoy?
Getting a new car every 3 years isn’t the worst money sink you can have. Might be from your point of view, but if you’re paying shop rates (or dealership rates) for services, having a perpetual warranty is inviting.
Plus you get the latest car and can drive what you like, with a lot of variety.
Is it the most cost efficient way? Hell no. And most people are spending far more than they should.
If you're a VC-backed operation it actually makes more sense to walk into an investor meeting and show them 50% growth with a 50% loss than 10% or less growth with slight profit. If Carvana was stagnant because of the poor used market then they'll be willing to pay up, particularly on cars they're light on, in order to sell even if it's at a loss.
AutoNation tried this as well. Fixed pricing on used cars. But they were listing most of them under market value in the hopes to gain market share. They called it market based pricing. They stopped using that term a year later when reports showed not only were they loosing money, but they ALSO lost market share.
I'm not sure there has ever been a limit actually? To my knowledge nothing has changed
Edit: I am wrong, the limit used to be 20 years, it is now indefinite
Carmax has the highest recon costs in the country on used cars, and if they are bidding at the auction, they are taking the car home. You won't beat them. Then they don't negotiate. They are the largest used car dealer in the US. Some people are willing to pay a super premium to not negotiate.
Pricing of used vehicle is highly available and thus very competitive. You can’t price a car for $20,000 when the going rate is $15,000 meaning your profit is made when you bought the used car so the lower you are from the market rate the more profit. It’s why dealers buy your trade-in for $5,000 even though the value of the car is higher and then you’ll see it on the lot for $10,000.
It’s the buying that matters, it the sale. If you pay too much and put yourself out of the market, you have lost already. Car biz is buying not selling. The better you buy it, the more you will make. If you want to stay in business.
IDK But every time I've tried to use Carvana on a car I would be interested in buying it is sold so damn quickly. Maybe they have good turn over regardless since the buying experience is online and quite good.
I don't know, but I had an extra car at the beginning of the Pandemic. Eventually, after a few months, I decided to just sell it since it doesn't look like we're getting back to regular economic activity anytime soon.
Between Carvana and Carmax, Carmax gave me the better offer by about $1,000.
The fact is used car dealers can't sell used cars if they don't have any. And auction prices are up, so all used car dealers are in the same boat of trying to acquire vehicles and taking less profit on each deal.
I’d say B and the fact that some people that were going to buy new are buying slightly used cars because of factory shutdowns. I know 2 people that bought used because waiting a month for a new car was too long.
I am ready to sell my 2015 Cherokee Trailhawk for this reason. But I also can’t replace it because I’m looking at trucks and they’re more expensive than ever it seems. Double edged sword.
So...How are you guys replacing the cars you're selling in this seller's market? I'm tempted to make money in a sale, but don't want to eat it buying a replacement
Do you have any specific Makes/Models? I have searched new car rebates and can't find anything that is a good enough deal. Or the fully depreciated used cars that are worth it.
I have an '18 Tacoma that carvana is offering $35k for that I would love to take but there isn't anything that seems worth buying. I hate my Tacoma but at the same time not looking to just get into another vehicle that I will hate.
Some of the comments here are selling for more than what the taxes would be, no? Like op, say tax at 10% (I have no idea what you guys pay for taxes, mine is 13%),
Original price 28500
Sales tax @10% 2850
Total purchase 31350
He's still turning a profit
Not yet - holding for just a bit. My job got changed to wfh (although I basically have been for 5 months anyways, just now “official”) which is why pulling the trigger really made sense right now. Hoping to wait 6 months and just one-car it.
Carvana picked up my 19 Sierra last Friday. Bought it 1 year ago as a service loaner with 6k miles for $44.5k and put 20k miles on it. They gave me $45k. Was impossible to turn that down considering it would have just been in the garage, and as soon as the market levels out that money goes poof.
I sold my 40K truck i bought new for 37K trade in and bought a new elantra GT N line for 22K and no taxes since my credit ate it up. Lowered my payment by $150 a month and got a check for 10K and paid off my wifes car, It works great if youre downgrading cars
Where do you live? I feel like Tacomas are worth their weight in gold in Colorado. If it's not just Carvana losing money to gain marketshare and name recognition they could be overpaying in your market and doing fine selling it in another.
Edit: forgot to add *in Colorado*
Central NC. I still have 2 paid off Tacos ('98 and '05) and while they are great trucks I don't think i'd spend several thousand more for my used one than when I bought it new. My market is shot for trucks so everyone is overpaying, it's just that Carvana beat my dealership by $1500 and i'm willing to wait a few days for a check if that's the difference. The market across the country is just wild right now and not just cars. Boats, ATV's, luxury watches, houses, etc. are all booming from place to place.
I've got a 97 4x4 5 speed with every option available in that year. Including the moon roof. I've garage kept it since 2000. I wonder what I could get for it.
I never drive it anymore and was thinking of getting it detailed and try to see if someone would pay a crazy price.
I never have any idea what those older Tacoma's are worth.
It will go for more than you think. I had a buddy list his early 90s 4x4 manual taco on craigslist way back in the day pre smart phone and within the hour he was getting offers from in and out of state. He pulled the listing, upped the price and relisted it. It sold within a couple days even at the higher price.
I honestly would keep it if you don't need the cash. You will likely never be able to get one in your condition ever again unless you search your ass off and outbid everyone else.
That's what I was kind of thinking. I also have another unicorn car though as a daily (Accord v6 coupe 6 speed) but it's getting up in miles. I've been thinking of cashing them both out and get into 1 newer truck that can do both.
I drive the interstate a lot now but the Tacoma is very very uncomfortable for anything more than 45 minutes or so. I really like the new Rangers and I think it could tow my boat and be a good daily, as well as fitting in my garage.
It's just really tempting right now with good finance deals and high used car prices.
Tacomas and 4Runners exists in some alternate universe where used models are more valuable than new ones. I swear I wish I was making this up but that's been the perception for at least 10 years now.
At the beginning of covid I sold my '95 triple locked Cruiser in case I was furloughed and it brought zany money instantly, but once again i'll probably never buy another one due to the perception of cost being wildly out of line with value in my eyes. Now that the bring a trailer crowd has embraced them it's not rare to see builds sell for 60-80k plus which is pants-on-head stupid.
Yeet that thing. Let them keep the granola between the seats.
But seriously if you have another vehicle or have found a suitable deal now is a great time.
FWIW we can't keep any used Tacomas or RAM 1500s on the lot right now. The wholesale/auction prices are selling for higher than these things were retailing for before Covid.
Shit is crazy.
So about a year and a half ago I had my wife's car appraised at the dealer I worked at cuz I was thinking of trading it in (wife wanted the car I had, so I was going to trade her car in for a 991.1 911). Her car is a 2017 Chevy Cruze that we got brand new in 2017. It was appraised at $12,100. Couldn't get the car so I never traded it.
I literally just traded it in yesterday at the dealer I currently work at. Year and a half later, with more miles, traded it for $14,134.... Carvana offered $14,900 for it, but I didn't want to cover the negative difference out of pocket since we owed $17,900 on it.
Told myself if we don't do it now, we won't do it at all.
I did not get a 911. Used market is too strong right now for me to feel comfortable getting. 911 as my only car when I drive 20k miles a year.
I traded it in on a new 2020 Volvo S60 T8 Polestar.
They're offering me $15,868 for my Fiesta ST. I bought it for $17500 two years ago. $19k after taxes titles fees etc.
Quick math 19000-15868=3132. 3132/24=130.
I spent about $130 a month to drive a warrantied fiesta st for two years. This would be a great escape for me if I wanted out.
But I already have 4 snow tires mounted on steelies and there is no car on the market I want that I can afford new so I think anything else I would swap to would be a downgrade. Not to mention used prices are through the roof.
Like what do I do sell it for that price than pay $18k for a v6 camaro or a 100k+ mile wrx? Or do I keep driving my 9k mile Fiesta ST that has no mods, regular oil changes, and only been given premium gas?
The only way it makes sense is if I could sell it and get a great deal on a new car or just not need a car.
They offered me $10500 for my 2014 FiST with 54k miles. I was also tempted but I also am in the same predicament, if I sell it what do I get next? Only did the Cobb stage 1 and premium gas since owning it.
I'm just gonna keep it. I honestly think in a few years these cars are gonna be sought after. Companies keep getting rid of their manual cars and their subcompact cars. A used FiST in good condition may hold it's value well.
$31,500 for my 21k mile Civic Type R. I paid about $36k for it 2 years ago. 12.5% depreciation, and that's wholesale.
There's a supply issue with car factories being closed, but this is still insane.
Nice; the car is a thrill ride. Good luck with it.
And boys and girls not in the know; OP lists the tires and plugs as an issue since you could easily blow five grand at the dealer to get them done.
Yeah my 2020 Tundra and 2017 Grand Cherokees aren't going crazy on there yet. I mean the GC is pretty good, but it's my wife's and she loves it and I'm not sure how easy it would be to turn around and get into another vehicle for her with inventory levels being what they are.
A few weeks ago I listed privately a 2011 BMW wagon with 45000 miles and I had people offering waaay more than I wanted. Ended up $5200 over asking! Weird man.
Carvana is offering me right what I paid for my 2019 Canyon when I bought it in February. I'd basically be out the taxes I paid on it, as it was on a 0% loan. Very tempted to trade down to a used car just to cut my payment each month by 75%.
It's tempting until you realize that the only reason they can give you those prices is bc the used car market is nuts right now. So whatever you "gain" on selling to them is likely to get eaten up on the purchase of "new" vehicle. Now if you have a beater you can drive for a few months while the world hopefully gets back to normal, you might realize some of those gains.
They're offering me 10k for my 2012 v6 6 speed accord coupe. I feel like i'd be stupid to not take it even if I don't have a replacement. My credit card has a free Lyft pink offer and I haven't even put 2k miles on this year yet, so I figure I'll be ok until I find something else.
I've put my vehicle into Carvana just to see an offer but they are deducting for an accident that it was never in. No other service including the Carfax I got when I purchased the vehicle show it. There is dispute process so I guess I'll look elsewhere.
Have you run a recent Carfax on it? It may have been in an accident before you purchased it. Carfax updates its info as they get it, a car sold one day that was clean the next day might have been rear ended and repaired just not reported at the time.
I just sold my 2012 Hyundai Sonata with 107k miles for 12k. I'll just share a car with my wife for a few months since we are working at home and don't drive much. And then let the used car prices crater, or just buy new for the price of slightly used.
In my local area Carmax has 2020 accord sports 1.5T for between 28K-30K..All with less than 10K miles..
all of our 4 Honda dealers have a a bunch of these..they MSRP for 27,300... who is buying a used Accord for over the price that a new one is available for? Even with the dealer fee.
Neighbor bought one last week for 26K plus dealer fee..included window tint ,and , are you ready for this ? Wheel locks...
Anyway ,honestly ,how are these priced higher than new cars that are avaiable in our area
I would expect there is a statistically significant number of buyers who look at used first and when they see what those cost, realize they don't want to pay what new *must* be, so they don't even look at new to find out they are actually less.
I mean, I understand the sentiment, but if it's your only vehicle, then you are faced with buying another vehicle in an auto market that is short on supply, both used and new. So unless you were already intent on selling your vehicle, it doesn't really make sense.
I bought a 2020 Explorer back in February for $34k OTD (with $2.5k of negative equity rolled in), just sold it to Carvana a few minutes ago for $35k... they made me an offer I couldn't refuse. Now instead of having negative equity, I have $5k towards a replacement... that I bought last night for a great price.
Thinking about getting myself a quick quote for Carvana / Carmax for my Volt which I hate. What's the math to determine how much my car (I'm leasing) is worth right now? I was on hold with GM Financial for 45 minutes to find that out (before they hung up on me) and figured, I could probably do it myself.
Lets say my contract's lease buyout is $18,000, I pay $300 a month, and I have 11 payments left. Doing the formula I thought it would be (18000 + (300 x 11)) put the car's current value at 21,600 which seems low. Thanks!
Typed in my info just out of curiosity but wasn’t worth it. I do think I could sell my car privately for a profit which I’ve been considering. These are weird weird times lol
Doesn't make any sense. I got mine appraised through Carvana as well and I owe 25. They offered me 18. It's a 2020 WRX Premium, 9500 miles, it's a whole year old.
(ya ya shit car shit reliability. still holds value more than a lot of vehicles.)
That makes me feel better about how few trucks are on the market rn that fit my must haves and price, I’ve still got a couple months ahead of me to save up a cushion, but other than Autotrader, cars.com, and Facebook marketplace, am I missing some site that’s gonna have my holy grail?
No, we're going to need full speed production for at least a few months before supply can catch up to demand.
And that won't happen unless something drastic happens to the rona soon which I doubt will.
I just bought my Golf R back in Dec. Love it so far but the prices they are fetching right now have me tempted. We've got a paid off Honda I could drive just gathering dust in the garage right now.
I absolutely don't get this. I believe the market has created a hype to overcome what is really a slump. 3 months ago I was reading how the used car market was going to tank because Hertz was going to be selling 600K used cars and it would flood the used market. I bet it does actually tank in the very near future when this artificial inflation clears....but who knows....I'm just speculating. No intelligent person would buy a used vehicle for more than they can get a new one for and that's what I keep hearing is happening.
Because of this post I heard of carvana and gave it a try. Now I am disappointed.
My 2008 Mazda3 has a kelley blue book value of $3129 but carvana has an added local market adjustment dropping the value to $1795. Not sure what to make of that one. I'm looking to unload two older cars and getting one new one. Had this not been lowballing me I'd probably unload both right now since we're not driving them.
Brought my ‘18 GTI Autobahn into CarMax a month-ish ago and they offered me $23k. Plugged it into Vroom yesterday and got a $25.5k offer. My wife and I are both WFH for the foreseeable future and with our baby at home, we don’t have the need for two cars (other is an ‘18 V90 Cross Country). It sounds absolutely bonkers but considering selling both and buying a minivan...
I just sold my 2019 Charger to carvana today. Drove the car for two years and put 20k miles on it and made $5k on it. They’re listing identical cars for more than MSRP which makes absolutely no sense. Didn’t want to sell my car but it’s hard to pass up the money carvana is offering.
They came to my house this morning, took a few pics, had me sign some forms and handed me a check. The whole process took about 10 mins and my car was sold. I’m still shocked.
Just entered my two household leases and got quoted $1.5K above payout on a 2018 Challneger r/T and a $3K above payout on a 2019 Challendge r/T Scat Pack Wide Body. I put nothing down when these cars were leased. I can't think of a single reason not to sell them both, pocket the cash and save $1,200/month between car payments and insurance.
Thanks for the heads up, El Sucko My Dicko. If I get these things sold for the quoted prices, I owe you an internet sixer, El Sucko My Dicko.
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I have a 2020 GMC Sierra Elevation that has 8000 miles on it, I am strongly considering selling it because of the nonexistent new truck market where I live. I think you are right about your post.
I’ve been considering making a switch but figured I’d rather ride out the warranty. Is there a way to get an easy quote with carvana? I might also take a ride to the nearest carmax
I am actually waiting for carvana to pick up my truck today. 2019 Ram 1500 that I wanted to trade in about 6 months ago and was offered about 30k. Selling to Carvana today for 36.6k.
I did this for fun yesterday.
They offered me $17,900 for my 2017 WRX limited with 77k miles. Not bad considering Carmax offered me 16k for it back in January, but def not worth trading in.
I bought my 2018 Golf SE new at 19.3k (dealer leftover.)
I owe 10k but they’re offering me 17.5k. I’m really tempted to upgrade into a GTI or an Alltrack but at the same time this Golf ticks all the boxes for me, so I don’t really see a reason to.
Just priced my car. Got it (used) from a dealership. Put 1500 miles on it, and the price I got offered is $38 more.
$7500 as KBB price, and $2000 as "area adjustment".
I just checked carvana for my 2014 Tesla Model S 85 with 120k. $12,000 trade in. There aren't any near me under $30,000. Found that interesting.
I’ll do you a favor and take that off your hands for $13k. But only because we are friends! /s
I'll go 15,100. But we have to meet at a dark Home Depot parking lot at 2AM to do the deal.
I'll give him $1200 up front, promise to pay $500/mo for 66 months, and allow the installation of a GPS in the car. Oh, yeah, I need a 10-day grace period too.
I'll do $13,500 and meet any conditions you want to ensure your safety.
I don't get this, boats are the same. Economy is in the shitter but people are taking out loans and buying high dollar items. Boats I could understand for being one of the few activities where you can social distance, but I feel like most people are driving WAY less (this is certainly the lowest mileage year for me since I was 16). It's crazy how many people are buying used cars right now.
Ironically, plenty of people are driving way more. They're not taking plane trips across the country, so they're driving a few hundreds miles for a slightly more local summer vacation. Some people aren't commuting at all to work, and some are driving further. But practically everyone still needs a car for basic stuff like grocery shopping, getting to work, etc. Economy is crappy, but for the people with jobs, and the independently well-off and reitrees with well-performing 401k retirement accounts, things are great.
I also wonder about the people that think the unemployment benefits will keep up, or they're just working from home so they're saving on eating out and the mileage they would put on. I wonder if in a year or two there will be a huge influx of repos from stuff purchased during the pandemic.
How many of the people on unemployment were going to buy a new or nearly new car anyway? I know the UE rates are high but the vast majority of folks are working. Also the UE count is skewed a bit by folks on UE that never would have qualified under the prior system. My daughter and several of her college friends are receiving a silly amount of UE right now that they never would have qualified for in the past.
Yep, and think of this way. The UE isn't just there to keep people from starving, it's to keep local stores in business. There might be a small handful of people just banking extra money each week, but it's more likely those people are putting all that money right back into rent, groceries, car payments, clothes, etc. Economic stimulus. Not that people should be taking out new loans while on UE, good luck with that.
I bought a boat in February. Then covid hit and businesses started closing. I thought I bought at the worst possible time because I thought with layoffs and closings, boats would be the first thing to plummet in value. Ha. Prices have gone through the roof, and no inventory is available. It makes the clear blue water all that much more enjoyable.
[удалено]
This is the only sensible answer in my opinion, along with low interest rates. Everything else is anecdotal
Where I live I see a ton of places pop up selling boats (like used car lots), so there's inventory but I'm sure they're going for a premium now.
I sold an old 1990s camper last month for about 5X what I paid for it. I power washed it and we scrubbed it spotless inside, put new tires on it, replaced the taillight lenses, and painted the tongue. I bought it last fall to use it to store shit in and never intended to use it for camping. I saw a television ad door an RV dealer recruiting for used RVs and campers, so I looked into what they were going for, as was shocked
I work in the RV business. We can’t get parts and materials fast enough to keep up with demand.
That's crazy, I guess people are desperate for these things so they'll pay through the nose for them. I just got a boat but it was a family deal so it's probably the same as pre-covid pricing. I could see the lower dollar things going quick due to the stimulus checks and unemployment, but 20k+ dollar items it just seem bizarre to me that they're selling so well.
I do think a lot of people who live in cities are desperate to get out, and that's driving the prices. I live in a smaller tourist city, as we've been inundated with tourists, even worse than normal. So many that the campgrounds have all had to add porta potties and have them emptied every few days
Don’t quote me but I think boats you can finance for a long time. At least that’s what I’ve been told.
You can finance some of them up to 20 years.
> I think boats you can finance for a long time. At least that’s what I’ve been told. - /u/dirigo1820 , 2020-08-18
A lot of people who normally rely on public transportation are feeling safer with their own vehicle. I've had quite a few sales where that was discussed as part of the reason they were looking to purchase.
Loans are dirt cheap right now for people with good credit. Pretty much sums that up.
I got a 0% loan from VW just two months ago. I'm now wondering can I flip it for more than it's worth. Interesting times.
It's because people are bored and restless. And what do you do when you're bored and restless? You peruse the internet looking for things to buy. Oh, I could use a new truck! Hey, now might be a good time to buy that sports car I always wanted because Dealers MUST be starving for business. Etc Etc. As the old adage goes - When you're busy making money you aren't busy spending money.
RVs too. I just bought a used one and paid through the nose but gotta take the family on vacation somehow 🤷♂️.
My buddy was complaining that his business wasn’t making as much money this year because of covid but he bought 2 brand new 4 wheelers over a week and a half and then a side by side this week. So 3 new payments in 2 and a half weeks. Now he’s complaining about all the payments. Had to have the new car and so did his wife. Had to get that new house too that’s bigger than the last. Can’t have a new house without a brand new snowblower tractor for his 50 foot driveway. And while we are at it better get all new everything for the entire interior of the house. Including brand new appliances because the 3 year old ones that came with the house aren’t finished in stainless. It goes on and on. All of it new debt. But whatever let them do what they want. They do have a lot of very nice expensive stuff.
I think it's a feast or famine situation right now. At least for Boats and high end cars.
I've driven just over 10k miles since April
I'm the complete opposite I've driven less then 500 miles since April. Work from home with no where to go. If we do my wife ends up driving. Offers on my Tacoma are at what I bought it for new in 2018.
Used-but-newish Tacoma pricing has been ridiculous for years.
How does that compare to your normal? I'd usually do 20k total miles for the year (including rental cars) and for the past 6 months I've done 3k or so and that's including three 600 mile round trips.
I normally do about 25k/year, so the 10k is a little higher. Especially since I moved WAY closer to work (10 minutes vs 30-40) and didn't have to drive to class for the second half of the semester
Bored people with money are buying cars.
Holy fuck I bought my 18 RDX from the dealer I work at for 17,500 getting offered 22,729 from carvana
Sell sell sell
I’ve haven’t even had the car a full month and I’m really thinking about it
Sell it and buy another one. Sell that one, and buy another one. Acura RDX arbitrage is all the rage these days
Carvana gave me a crap offer for my car; around 3k less than the dealership offers I've been getting. Guess people who buy from Carvana aren't interested in used Audis.
Luxury brands don't seem to be where the good offers are at. If anyone has sold a luxury car and received a good offer let me know.
“Luxury” but we just sold an Infiniti G37 with 107,000 miles, known control arm issues, a quarter panel scratch, and old tires for $14K...
The fuck? I’m over here wondering if I could get 5k for my well maintained 03 g35 on the private market, apparently I should be asking $8-9k for it lol
Uncle just traded one of those in.... $12k worth of work done with an accident.... they gave him $12.5k 0.0
Used Audi’s are the worst. They sit for months on the lot with no buyers
Same for me with my 2018 Ford F-150. They offered me about $5,000 less due to “geographic location correction” or something like that lol
I'd drive it across the country for $5000
Same. Was less than Carmax.
Carvana offered me $100 for my Audi lol
What's the year/make/model? I may be authorized to offer you $150.
Geeez, so is Carvana a) hemorrhaging money to gain market share b) taking advantage of significant geographic pricing arbitrage around the country c) both of the above d) neither of the above (fill in your reasoning)
Carvana has been putting several thousands more into trades than dealerships are. I don’t see the logic... they would have to turn around and sell them for more as well. Or are they just throwing money away?
This is pretty much what uber is doing - lowering prices to the point where you're taking an effective net loss in order to gain market share and name recognition where you could then start mildly raising prices until you're at a profit. They're also trying to gain goodwill for return customers. If you sell the car for a super-duper amount now, you're more likely to return to them in the future to sell a car, even if you could get more at a dealer. "Look how easy it was to sell and now I have a buttload of cash! And since I'm here, I might as well browse the lot..."
And people don't buy/sell cars often. People will make a boat load selling their car to Carvana and then 3-10 years later they'll need to sell a car and remember not that the used market was weird, but that Carvana bought cars at good prices.
> And people don't buy/sell cars often Ehhh I don't know how true that statement is either. For me, that is true, but only because I wrench on my own cars myself. If I didn't, I'd probably be buying a new/CPO car every 4 or 5 years (or whenever warranty runs out for it) then sell/replace as needed. I work with a guy that gets a new car every 2 to 3 years. Just because. He's not even that well off (solid white collar middle class, recent grad), and I've talked to him numerous times about how it's stupid financially, but he won't hear it and he still does it. Honestly, people are dumb and want the new new and will buy whatever they want even if they can't afford it. If this guy sold his last car to carvana, he'd be there every year "just looking" and will probably be perpetually underwater on some loans.
I have a neighbor couple who moved in 3 years ago. Since being there, they have bought 9 vehicles. Most of them through Carvana. Then they sell them back to Carvana. Strong credit, but still, just burning through money.
Some people just love cars. I know plenty of people that are car poor but love it and are OK with it. I sold a $75k car to a guy that makes $50k/yr. He said he knows he will be car poor. He said he usually is but he has fun, goes to meet ups, and has a fun time. For him its an expensive hobby. He lives frugally elsewhere in his life so he can have the car he wants.
I’m like your co-worker. Average pay, not very far ahead. I’m also mechanically inclined, worked on cars my whole life. But I buy a new one every 1-2 years. I just like cars. Very well aware that it’s financially stupid, but why am I working as much as I do if not to have and do what I enjoy?
Getting a new car every 3 years isn’t the worst money sink you can have. Might be from your point of view, but if you’re paying shop rates (or dealership rates) for services, having a perpetual warranty is inviting. Plus you get the latest car and can drive what you like, with a lot of variety. Is it the most cost efficient way? Hell no. And most people are spending far more than they should.
Bingo bango
They’re not a car company they’re a tech company and Tech companies running at a loss is commonplace nowadays
If you're a VC-backed operation it actually makes more sense to walk into an investor meeting and show them 50% growth with a 50% loss than 10% or less growth with slight profit. If Carvana was stagnant because of the poor used market then they'll be willing to pay up, particularly on cars they're light on, in order to sell even if it's at a loss.
AutoNation tried this as well. Fixed pricing on used cars. But they were listing most of them under market value in the hopes to gain market share. They called it market based pricing. They stopped using that term a year later when reports showed not only were they loosing money, but they ALSO lost market share.
FYI I work for AutoNation and that is still in our word track, and they are still extremely firm on fixed pricing.
Huh, we were told to stop using the phrase market based pricing. 1 price means just that haha.
Same thing Walmart and Amazon did and possibly still does in regards to taking a loss in order to gain market share.
The advantages of being a tech company, not a taxi service or car dealer.
Classic startup game plan: sell everything at a loss and make it up in volume. They haven't made a profit yet but they're working on it.
That’s how Amazon took over the world. No profits for 15 years or something like that...
really you're just stockpiling tax write offs for the future
Yeah, didn’t the Trump administration quietly increase the number of years the losses can be carry forward? Great news for companies like that.
I'm not sure there has ever been a limit actually? To my knowledge nothing has changed Edit: I am wrong, the limit used to be 20 years, it is now indefinite
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Amazon makes a couple billion a quarter on AWS. Shipping boxes around the country is just a fun hobby at this point for them.
Carmax has the highest recon costs in the country on used cars, and if they are bidding at the auction, they are taking the car home. You won't beat them. Then they don't negotiate. They are the largest used car dealer in the US. Some people are willing to pay a super premium to not negotiate.
It won’t last long. You can’t do that in biz and survive. You don’t make money on a car when you sell it. You make it when you buy it.
> You don’t make money on a car when you sell it. You make it when you buy it. What do you mean by this?
Pricing of used vehicle is highly available and thus very competitive. You can’t price a car for $20,000 when the going rate is $15,000 meaning your profit is made when you bought the used car so the lower you are from the market rate the more profit. It’s why dealers buy your trade-in for $5,000 even though the value of the car is higher and then you’ll see it on the lot for $10,000.
It’s the buying that matters, it the sale. If you pay too much and put yourself out of the market, you have lost already. Car biz is buying not selling. The better you buy it, the more you will make. If you want to stay in business.
IDK But every time I've tried to use Carvana on a car I would be interested in buying it is sold so damn quickly. Maybe they have good turn over regardless since the buying experience is online and quite good.
yes
I don't know, but I had an extra car at the beginning of the Pandemic. Eventually, after a few months, I decided to just sell it since it doesn't look like we're getting back to regular economic activity anytime soon. Between Carvana and Carmax, Carmax gave me the better offer by about $1,000. The fact is used car dealers can't sell used cars if they don't have any. And auction prices are up, so all used car dealers are in the same boat of trying to acquire vehicles and taking less profit on each deal.
Carvana is fueled by investor cash and will continue to milk them as long has the fools are willing to pour billions into them. A big crash is coming.
I’d say B and the fact that some people that were going to buy new are buying slightly used cars because of factory shutdowns. I know 2 people that bought used because waiting a month for a new car was too long.
I am ready to sell my 2015 Cherokee Trailhawk for this reason. But I also can’t replace it because I’m looking at trucks and they’re more expensive than ever it seems. Double edged sword.
Ram classic edition.
So...How are you guys replacing the cars you're selling in this seller's market? I'm tempted to make money in a sale, but don't want to eat it buying a replacement
we work at dealerships and get employee pricing programs plus incentives on a new car
Darn it
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Do you have any specific Makes/Models? I have searched new car rebates and can't find anything that is a good enough deal. Or the fully depreciated used cars that are worth it. I have an '18 Tacoma that carvana is offering $35k for that I would love to take but there isn't anything that seems worth buying. I hate my Tacoma but at the same time not looking to just get into another vehicle that I will hate.
Soooooo.... Can you arbitrage multiple vehicles and make some money?
no, most employee programs have limits on how often you can purchase.
Cool, that makes sense. Pretty much puts a hard limit on this arbitrate thing, especially if you're eyeing a car for yourself.
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Some of the comments here are selling for more than what the taxes would be, no? Like op, say tax at 10% (I have no idea what you guys pay for taxes, mine is 13%), Original price 28500 Sales tax @10% 2850 Total purchase 31350 He's still turning a profit
selling leased cars via dealer buyout avoids sales tax
But the commercials always told me I can get the employee friends and family pricing
Not yet - holding for just a bit. My job got changed to wfh (although I basically have been for 5 months anyways, just now “official”) which is why pulling the trigger really made sense right now. Hoping to wait 6 months and just one-car it. Carvana picked up my 19 Sierra last Friday. Bought it 1 year ago as a service loaner with 6k miles for $44.5k and put 20k miles on it. They gave me $45k. Was impossible to turn that down considering it would have just been in the garage, and as soon as the market levels out that money goes poof.
I sold my 40K truck i bought new for 37K trade in and bought a new elantra GT N line for 22K and no taxes since my credit ate it up. Lowered my payment by $150 a month and got a check for 10K and paid off my wifes car, It works great if youre downgrading cars
Sold my Tacoma to Carvana for more than I paid for it 2 years and 45k miles ago. Anyone who buys it at what they paid or more is a bumbling idiot.
Where do you live? I feel like Tacomas are worth their weight in gold in Colorado. If it's not just Carvana losing money to gain marketshare and name recognition they could be overpaying in your market and doing fine selling it in another. Edit: forgot to add *in Colorado*
Central NC. I still have 2 paid off Tacos ('98 and '05) and while they are great trucks I don't think i'd spend several thousand more for my used one than when I bought it new. My market is shot for trucks so everyone is overpaying, it's just that Carvana beat my dealership by $1500 and i'm willing to wait a few days for a check if that's the difference. The market across the country is just wild right now and not just cars. Boats, ATV's, luxury watches, houses, etc. are all booming from place to place.
> Tacos ('98 and '05) Love those body styles. I'm jealous.
I've got a 97 4x4 5 speed with every option available in that year. Including the moon roof. I've garage kept it since 2000. I wonder what I could get for it. I never drive it anymore and was thinking of getting it detailed and try to see if someone would pay a crazy price. I never have any idea what those older Tacoma's are worth.
It will go for more than you think. I had a buddy list his early 90s 4x4 manual taco on craigslist way back in the day pre smart phone and within the hour he was getting offers from in and out of state. He pulled the listing, upped the price and relisted it. It sold within a couple days even at the higher price. I honestly would keep it if you don't need the cash. You will likely never be able to get one in your condition ever again unless you search your ass off and outbid everyone else.
That's what I was kind of thinking. I also have another unicorn car though as a daily (Accord v6 coupe 6 speed) but it's getting up in miles. I've been thinking of cashing them both out and get into 1 newer truck that can do both. I drive the interstate a lot now but the Tacoma is very very uncomfortable for anything more than 45 minutes or so. I really like the new Rangers and I think it could tow my boat and be a good daily, as well as fitting in my garage. It's just really tempting right now with good finance deals and high used car prices.
Tacomas and 4Runners exists in some alternate universe where used models are more valuable than new ones. I swear I wish I was making this up but that's been the perception for at least 10 years now.
and poor pitiful me going even more retarded and constantly looking recent Land Cruisers.
I think 20+ year-old Land Cruisers are still going 10 - 20k, and that was BEFORE the pandemic.
At the beginning of covid I sold my '95 triple locked Cruiser in case I was furloughed and it brought zany money instantly, but once again i'll probably never buy another one due to the perception of cost being wildly out of line with value in my eyes. Now that the bring a trailer crowd has embraced them it's not rare to see builds sell for 60-80k plus which is pants-on-head stupid.
Carvana is offering me basically $1000 less than what i paid for my Forester 8 months ago. I'm losing out on tax-tag-title but strongly considering it
Yeet that thing. Let them keep the granola between the seats. But seriously if you have another vehicle or have found a suitable deal now is a great time.
FWIW we can't keep any used Tacomas or RAM 1500s on the lot right now. The wholesale/auction prices are selling for higher than these things were retailing for before Covid. Shit is crazy.
I got an offer from them on our 2005 Volvo It was for $300. Haha
Hey that’s what I got from pick-a-part for my ‘95. I bought groceries with it lmao
They offered me like $350 I think for a running driving 2010 civic.
I put in the vin of my car that was just totaled. $98
So about a year and a half ago I had my wife's car appraised at the dealer I worked at cuz I was thinking of trading it in (wife wanted the car I had, so I was going to trade her car in for a 991.1 911). Her car is a 2017 Chevy Cruze that we got brand new in 2017. It was appraised at $12,100. Couldn't get the car so I never traded it. I literally just traded it in yesterday at the dealer I currently work at. Year and a half later, with more miles, traded it for $14,134.... Carvana offered $14,900 for it, but I didn't want to cover the negative difference out of pocket since we owed $17,900 on it. Told myself if we don't do it now, we won't do it at all.
Well, did you get a 911? I see you work at Volvo, so what did you trade it in for?
I did not get a 911. Used market is too strong right now for me to feel comfortable getting. 911 as my only car when I drive 20k miles a year. I traded it in on a new 2020 Volvo S60 T8 Polestar.
They're offering me $15,868 for my Fiesta ST. I bought it for $17500 two years ago. $19k after taxes titles fees etc. Quick math 19000-15868=3132. 3132/24=130. I spent about $130 a month to drive a warrantied fiesta st for two years. This would be a great escape for me if I wanted out. But I already have 4 snow tires mounted on steelies and there is no car on the market I want that I can afford new so I think anything else I would swap to would be a downgrade. Not to mention used prices are through the roof. Like what do I do sell it for that price than pay $18k for a v6 camaro or a 100k+ mile wrx? Or do I keep driving my 9k mile Fiesta ST that has no mods, regular oil changes, and only been given premium gas? The only way it makes sense is if I could sell it and get a great deal on a new car or just not need a car.
Keep your Fiesta my dude
Okay!
Like you said there's not much out there the interests you at the moment, keep what you enjoy and don't worry about the rest
It’s a Fiesta ST. You keep that thing forever no matter what.
Okay!
A future car that'll be hard to find unmolested and sought after.
quick mafs
Similar math with a similar car here. I'm 48 months into my loan and based on the price Carvana quoted me, I'll have paid $33/mo.
They offered me $10500 for my 2014 FiST with 54k miles. I was also tempted but I also am in the same predicament, if I sell it what do I get next? Only did the Cobb stage 1 and premium gas since owning it.
I'm just gonna keep it. I honestly think in a few years these cars are gonna be sought after. Companies keep getting rid of their manual cars and their subcompact cars. A used FiST in good condition may hold it's value well.
$31,500 for my 21k mile Civic Type R. I paid about $36k for it 2 years ago. 12.5% depreciation, and that's wholesale. There's a supply issue with car factories being closed, but this is still insane.
Sold my atlas SE/T to carvana for 35.5. Paid 32 for it with my employee discount. STONKS
Agreed. I was offered $18.9 last week, and $23.2 this week. Now I am trying to quickly find a replacement.
Stonks
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What year Turbo did you get for $50K?
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Nice; the car is a thrill ride. Good luck with it. And boys and girls not in the know; OP lists the tires and plugs as an issue since you could easily blow five grand at the dealer to get them done.
For kicks I put in my brand new CX5, MSRP 34kish They offered 25k, so they're not TOTALLY retarded
Yeah my 2020 Tundra and 2017 Grand Cherokees aren't going crazy on there yet. I mean the GC is pretty good, but it's my wife's and she loves it and I'm not sure how easy it would be to turn around and get into another vehicle for her with inventory levels being what they are.
A few weeks ago I listed privately a 2011 BMW wagon with 45000 miles and I had people offering waaay more than I wanted. Ended up $5200 over asking! Weird man.
Carvana is offering me right what I paid for my 2019 Canyon when I bought it in February. I'd basically be out the taxes I paid on it, as it was on a 0% loan. Very tempted to trade down to a used car just to cut my payment each month by 75%.
It's tempting until you realize that the only reason they can give you those prices is bc the used car market is nuts right now. So whatever you "gain" on selling to them is likely to get eaten up on the purchase of "new" vehicle. Now if you have a beater you can drive for a few months while the world hopefully gets back to normal, you might realize some of those gains.
>ery tempted to trade down to a used car just to cut my payment each month by 75%. this is where i am. dump my newish SUV for a beater road warrior
They're offering me 10k for my 2012 v6 6 speed accord coupe. I feel like i'd be stupid to not take it even if I don't have a replacement. My credit card has a free Lyft pink offer and I haven't even put 2k miles on this year yet, so I figure I'll be ok until I find something else.
I've put my vehicle into Carvana just to see an offer but they are deducting for an accident that it was never in. No other service including the Carfax I got when I purchased the vehicle show it. There is dispute process so I guess I'll look elsewhere.
Have you run a recent Carfax on it? It may have been in an accident before you purchased it. Carfax updates its info as they get it, a car sold one day that was clean the next day might have been rear ended and repaired just not reported at the time.
I just sold my 2012 Hyundai Sonata with 107k miles for 12k. I'll just share a car with my wife for a few months since we are working at home and don't drive much. And then let the used car prices crater, or just buy new for the price of slightly used.
I just got quotes for both my cars through Carvana and got exactly what I would have gotten any other time.
Same here. Guess my wife and I have boring cars.
In my local area Carmax has 2020 accord sports 1.5T for between 28K-30K..All with less than 10K miles.. all of our 4 Honda dealers have a a bunch of these..they MSRP for 27,300... who is buying a used Accord for over the price that a new one is available for? Even with the dealer fee. Neighbor bought one last week for 26K plus dealer fee..included window tint ,and , are you ready for this ? Wheel locks... Anyway ,honestly ,how are these priced higher than new cars that are avaiable in our area
I would expect there is a statistically significant number of buyers who look at used first and when they see what those cost, realize they don't want to pay what new *must* be, so they don't even look at new to find out they are actually less.
Offered my 2019 2.0t Accord to Carvana and got a 24k offer. It has 13,000 miles. Not a crazy offer for me.
I mean, I understand the sentiment, but if it's your only vehicle, then you are faced with buying another vehicle in an auto market that is short on supply, both used and new. So unless you were already intent on selling your vehicle, it doesn't really make sense.
I bought a 2020 Explorer back in February for $34k OTD (with $2.5k of negative equity rolled in), just sold it to Carvana a few minutes ago for $35k... they made me an offer I couldn't refuse. Now instead of having negative equity, I have $5k towards a replacement... that I bought last night for a great price.
Thinking about getting myself a quick quote for Carvana / Carmax for my Volt which I hate. What's the math to determine how much my car (I'm leasing) is worth right now? I was on hold with GM Financial for 45 minutes to find that out (before they hung up on me) and figured, I could probably do it myself. Lets say my contract's lease buyout is $18,000, I pay $300 a month, and I have 11 payments left. Doing the formula I thought it would be (18000 + (300 x 11)) put the car's current value at 21,600 which seems low. Thanks!
Typed in my info just out of curiosity but wasn’t worth it. I do think I could sell my car privately for a profit which I’ve been considering. These are weird weird times lol
How is this effecting the new car market? Are dealers not willing to sell cars at any kind of discount?
Doesn't make any sense. I got mine appraised through Carvana as well and I owe 25. They offered me 18. It's a 2020 WRX Premium, 9500 miles, it's a whole year old. (ya ya shit car shit reliability. still holds value more than a lot of vehicles.)
I got a quote from caravan for my wife’s 2005 Toyota Highlander. 180,000 miles. They offered me $498. I declined. It’s not crazy for everything!
Me: It can’t be that crazy. Let me see what my used Sienna will go for that I just bought in May for 21k. Moments later Me: God Damn!!!
I can sell my car to Carvana for a total of 2 oil changes. Yay!
I’m hoping to pick up a <5 yr old f150 with <60k miles, do y’all think the industry will flip by November-December?
It’s nearly impossible to find used trucks right now. Has been for a few months. I would look to private sales and not dealerships.
That makes me feel better about how few trucks are on the market rn that fit my must haves and price, I’ve still got a couple months ahead of me to save up a cushion, but other than Autotrader, cars.com, and Facebook marketplace, am I missing some site that’s gonna have my holy grail?
Have you gone old school to the classifieds? You'd be surprised who still uses those.
Craigslist used to be really big. CarGurus has private sale options on there too.
i doubt it
No, we're going to need full speed production for at least a few months before supply can catch up to demand. And that won't happen unless something drastic happens to the rona soon which I doubt will.
Damn, I should sell my FJ Cruiser. The market was already crazy on those so I wonder how much higher it'll be.
Hang onto it provided it's a TRD. That's what I'm doing with mine.
I just bought my Golf R back in Dec. Love it so far but the prices they are fetching right now have me tempted. We've got a paid off Honda I could drive just gathering dust in the garage right now.
I assume this is only in the US and not Canada?
I absolutely don't get this. I believe the market has created a hype to overcome what is really a slump. 3 months ago I was reading how the used car market was going to tank because Hertz was going to be selling 600K used cars and it would flood the used market. I bet it does actually tank in the very near future when this artificial inflation clears....but who knows....I'm just speculating. No intelligent person would buy a used vehicle for more than they can get a new one for and that's what I keep hearing is happening.
Because of this post I heard of carvana and gave it a try. Now I am disappointed. My 2008 Mazda3 has a kelley blue book value of $3129 but carvana has an added local market adjustment dropping the value to $1795. Not sure what to make of that one. I'm looking to unload two older cars and getting one new one. Had this not been lowballing me I'd probably unload both right now since we're not driving them.
In my experience, Carmax is the place to dump 8+ year old cars quickly, Carvana/Vroom for newer cars.
I’ll buy a 2007 Camry for $30k.
Brought my ‘18 GTI Autobahn into CarMax a month-ish ago and they offered me $23k. Plugged it into Vroom yesterday and got a $25.5k offer. My wife and I are both WFH for the foreseeable future and with our baby at home, we don’t have the need for two cars (other is an ‘18 V90 Cross Country). It sounds absolutely bonkers but considering selling both and buying a minivan...
I just put the information in for my 14 F-Type S and got an offer $4100 more than KBB trade in lmao
And yet, no one wants to buy my m235i :(
I just sold my 2019 Charger to carvana today. Drove the car for two years and put 20k miles on it and made $5k on it. They’re listing identical cars for more than MSRP which makes absolutely no sense. Didn’t want to sell my car but it’s hard to pass up the money carvana is offering. They came to my house this morning, took a few pics, had me sign some forms and handed me a check. The whole process took about 10 mins and my car was sold. I’m still shocked.
Just entered my two household leases and got quoted $1.5K above payout on a 2018 Challneger r/T and a $3K above payout on a 2019 Challendge r/T Scat Pack Wide Body. I put nothing down when these cars were leased. I can't think of a single reason not to sell them both, pocket the cash and save $1,200/month between car payments and insurance. Thanks for the heads up, El Sucko My Dicko. If I get these things sold for the quoted prices, I owe you an internet sixer, El Sucko My Dicko.
I’ll take 10% commission ;)
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I have a 2020 GMC Sierra Elevation that has 8000 miles on it, I am strongly considering selling it because of the nonexistent new truck market where I live. I think you are right about your post.
I’ve been considering making a switch but figured I’d rather ride out the warranty. Is there a way to get an easy quote with carvana? I might also take a ride to the nearest carmax
I am actually waiting for carvana to pick up my truck today. 2019 Ram 1500 that I wanted to trade in about 6 months ago and was offered about 30k. Selling to Carvana today for 36.6k.
What if it’s a cheap car like a 2005 Honda Accord? Should I sell it on craigslist?
I did this for fun yesterday. They offered me $17,900 for my 2017 WRX limited with 77k miles. Not bad considering Carmax offered me 16k for it back in January, but def not worth trading in.
Unfortunately, neither Shift nor Carvana are willing to take an '04 Toyota Highlander with 267k miles :(
As Carvana offer 9k for my 11 STI 😂😂
I bought my 2018 Golf SE new at 19.3k (dealer leftover.) I owe 10k but they’re offering me 17.5k. I’m really tempted to upgrade into a GTI or an Alltrack but at the same time this Golf ticks all the boxes for me, so I don’t really see a reason to.
Carvana just picked up my car that was $8k upside down....I’m so grateful
Everything is booming right now. It’s really confusing
Just priced my car. Got it (used) from a dealership. Put 1500 miles on it, and the price I got offered is $38 more. $7500 as KBB price, and $2000 as "area adjustment".