I received an offer from Carvana.

[RetiredAndLovingIt]

I don't remember if it was Carvana or Carmax that was trying to move into my city and the local dealers were furious about it claiming it would put them out of business and now I can see why. I haven't heard anything since so unsure if they were able to payoff the right people to stop it from happening.
I appreciate this group for posting their positive experiences and getting the word out about these alternative ways to sell vehicles. I've learned so much here in the past three years. I never thought I could qualify for ACA assistance, I'd never heard of Roth conversions and I would never have considered selling my car to Carvana.
You guys have saved me so much money and hassle.
Thank you.

Thank you

 

[freedomatlast]

Are they as bad as the your car warranty has expired cell phone scam calls?

Just about. I received several emails a day combined with several phone calls a day even after I had told them repeatedly the vehicle was sold and no longer available.

On the BMW, the difference between their offer and one that was almost identical in year, options, mileage, even color, as advertised on their site at the time was more than 18%!

And it looks like they have now taken over Craigslist as Craigslist is now flooded with their ads of cars advertised at crazy high prices.

I'm assuming their success is due to aggressive marketing combined with buyers who are willing to leave many thousands of dollars on the table to avoid dealing with dealers or private parties. Maybe this is a reflection of how fed up the general public has become with typical dealer tactics.

For those that are happy with the no hassle Carvana model, I say that's great as the more competition, the better.

 

[gooddog]

Six months ago I bought a new car (not my brightest move) but I thought I did okay, I normally buy cars with 100k miles drive them for 5-6 years and I normally do well.



Two weeks ago I get an email from Carvana they want to buy my car I put in my information they offer me $3500 less than what I paid (OTD price) keep in mind I paid $2500 in taxes and insurance, I'm not interested but intrigued. Yesterday just for fun I go back to their website they offer $500 more.... I tried Vroom they offer $500 more than Carvana so if I sell all I lose is the taxes and registration.



The sale of this car doesn't move the needle for me but what a crazy world we live in, I can drive this car for 6 months and "only" pay taxes and registration.

Cars are going up in value. Just last month CreditKarma showed my 2019 Ram going up $1,950 for just March. Can now get more for it than it cost new in 2019. That said, we got it for a steal.

 

[SJ1_]

Six months ago I bought a new car (not my brightest move) but I thought I did okay, I normally buy cars with 100k miles drive them for 5-6 years and I normally do well.



Two weeks ago I get an email from Carvana they want to buy my car I put in my information they offer me $3500 less than what I paid (OTD price) keep in mind I paid $2500 in taxes and insurance, I'm not interested but intrigued. Yesterday just for fun I go back to their website they offer $500 more.... I tried Vroom they offer $500 more than Carvana so if I sell all I lose is the taxes and registration.



The sale of this car doesn't move the needle for me but what a crazy world we live in, I can drive this car for 6 months and "only" pay taxes and registration.

I just traded in my 2016 Honda CR-V to Carvana. On Aug.4th I got a quote
on a trade in that I end up canceling
On Aug 11th I found another car I wanted to buy and I got stuck on their website so I ended up starting from scratch and the new offer on my Honda was up $1565 !
crazy times.

 

[Koolau]

I recently lost one of my 3 cars (too old/too expensive to fix.) Hope my other two cars hold on until the craziness subsides. I wouldn't want to "need" a car in this environment. I'm sure it feels good to be on the right side of this lopsided situation. I'm feeling just a bit vulnerable since my mainland car is almost 22 model years old. Hang on old girl! YMMV

 

[tb001]

DH had a similar experience with Carvana. I don’t remember the full details, but he sold his leased Toyota to them and ended up paying almost nothing to have driven the car for several years. Then leased a new Honda and could have flipped it again after 4mo with nothing out of pocket. The market is nuts right now.

 

[freedomatlast]

Carvana is a company that has to be making a ton of money. Look at the spread between the low ball offers they make on cars they want to buy, and the sky high prices they advertise on the cars they try to sell. Insane mark-ups and people seem to love it.

 

[braumeister]

Another possibility that I don't think was mentioned is that the car rental companies are desperately trying to rebuild their fleets. If Carvana can be a reliable supplier to them, they will be happy to pay the price.

 

[SJ1_]

Another possibility that I don't think was mentioned is that the car rental companies are desperately trying to rebuild their fleets. If Carvana can be a reliable supplier to them, they will be happy to pay the price.

Yes good point found zero cars at Portland ME this summer for the dates we could go. Same with Oahu Hawaii they all sold during the worst of COVID
I looked at a number of trade in offers and was surprised how high they were

 

[ExFlyBoy5]

Carvana is a company that has to be making a ton of money. Look at the spread between the low ball offers they make on cars they want to buy, and the sky high prices they advertise on the cars they try to sell. Insane mark-ups and people seem to love it.

Their offers might be lowball on some makes/models but I was curious as to what they would give me on an almost 10 year old Accord I bought about a year ago. $650 more than I paid (all in Tax/Tag/Title) for it. So, not a low ball offer IMHO. I also took a gander at some trucks for sale...all of them within 100 miles were pending sale. So, insane mark-up or a supply and demand system that is working quite efficiently?

And yes, I recognize that I could sell the Accord for more if I did private party sale...but that can be a pain. Carvana takes that unnecessary pain away for those that don't want to deal with it.

 

[karen1972]

Well couldn't use Carvana even if I wanted to. https://spectrumlocalnews.com/nc/ch...rvana-from-selling-cars-in-raleigh-until-2022

I was in Wisconsin over the last weekend and the cousins were all talking about the price of extended pick up trucks being thru the roof, used and new just isn't any inventory period .

 

[HenryD]

Our primary is a 2006 CR-V with over 200,000 miles on it. I just really want it to last until 2024 when we go car-less. We do have the use of DD's car she will leave with us in the school year. Will try to mostly use that over the winter and hope the craziness abates by next summer in case we do need to replace.

 

[SJ1_]

Their offers might be lowball on some makes/models but I was curious as to what they would give me on an almost 10 year old Accord I bought about a year ago. $650 more than I paid (all in Tax/Tag/Title) for it. So, not a low ball offer IMHO. I also took a gander at some trucks for sale...all of them within 100 miles were pending sale. So, insane mark-up or a supply and demand system that is working quite efficiently?

And yes, I recognize that I could sell the Accord for more if I did private party sale...but that can be a pain. Carvana takes that unnecessary pain away for those that don't want to deal with it.

I agree if they low balled me I would of went somewhere else.
Inflation is here.
.

 

[RetiredAndLovingIt]

I just got an offer from Carvana and Carmax on my 6 year old SUV.
Carvana offered me $2100 more that Carmax. I would like to take their offer, this would be my second sale to them however the three local dealers I visited all had less than ten new cars on their lots. 2 of the 3 dealers also added a Market Adjustment Price of $3500 to the extra sticker that they add with junk add ons they want you to buy. One was a Kia Soul, $22k MSRP and they were pricing it at $29K with clearcoat, security system, roof rails and market add on. When I laughed at the price, they both defended it with everyone is doing it, well not the Mitsubishi dealer yet who will probably get my business if we can come to an agreement on price but that may not happen in this environment, we'll see.

 

[ExFlyBoy5]

Well couldn't use Carvana even if I wanted to. https://spectrumlocalnews.com/nc/ch...rvana-from-selling-cars-in-raleigh-until-2022

You couldn't or WON'T use them? The article said it was only one of the physical locations that they shut down and,

"The agreement only applies to Carvana's Raleigh dealership. Carvana also has dealerships operating in Charlotte, Concord and Greensboro."

Sounds like similar troubles with those that come in and upset the status quo. Like Tesla and automobile sales [-]mafia[/-] associations or Uber and the taxi driver [-]mafia[/-] associations.

 

[RetiredAndLovingIt]

In February this year just for curiosity, I priced my 6 year old SUV with Edmunds.com and got a ridiculously low Tru Market Value price. They were also kind enough to share my info with a dealer that was not exactly local but who bombarded me for months with daily voice mails, texts and e-mails about how urgent it was that I get to their location to trade my vehicle in before it's value dropped.
There was not a chance I would ever sell at the quoted TMV pricing which was $6,000 less than I'm now being offered from Carvana.
I always considered Edmunds.com as a reputable auto information source but after that experience it was obvious they just wanted my information so they could sell it.
I'm sure I agreed to it someplace when I signed up for the account so they're not doing anything illegal. just very annoying.

 

[SJ1_]

In February this year just for curiosity, I priced my 6 year old SUV with Edmunds.com and got a ridiculously low Tru Market Value price. They were also kind enough to share my info with a dealer that was not exactly local but who bombarded me for months with daily voice mails, texts and e-mails about how urgent it was that I get to their location to trade my vehicle in before it's value dropped.
There was not a chance I would ever sell at the quoted TMV pricing which was $6,000 less than I'm now being offered from Carvana.
I always considered Edmunds.com as a reputable auto information source but after that experience it was obvious they just wanted my information so they could sell it.
I'm sure I agreed to it someplace when I signed up for the account so they're not doing anything illegal. just very annoying.

I created a special email for these kinds of things

 

[teetee]

This is very interesting. We have a lot of car dealers in way South Texas, and their lots are chock full of new cars.

I wonder if the cars have been delivered but the circuit boards are not installed. They are just sitting under the sun waiting for parts.