Carvana

[gjl]

I was recently in the market for a used vehicle. Ended up buying a really clean 75K mile truck from a GMC/Buick/Cadillac dealer for $25K so paid more than buying from an individual, but that was fine. I got a really nice clean truck. While shopping over the course of a few months I would look to see what Carvana had available and always found their pricing to be $3-5K more than the high prices dealers typically get.

[Jersey Boss]

CAR MAX is also reeling. Used car market is tanking.
CarMax Finds the Used Car Tipping Point After Dismal Quarter
https://jalopnik.com/carmaxs-dismal-...-ti-1849922612

[Jersey Boss]

...

[jerrywall]

CAR MAX is also reeling. Used car market is tanking.
CarMax Finds the Used Car Tipping Point After Dismal Quarter
https://jalopnik.com/carmaxs-dismal-...-ti-1849922612

I'm love hearing the prices go down and their stock tanking. CarMax, Carvana, and others of their ilk totally took advantage of the pandemic and ramped up used car prices to ridiculous levels, and the public reacted. They promised their shareholders that the stupid pandemic growth would continue, much like Amazon did, and they'll end up paying for it. Maybe some sanity is being restored to used car prices now. It was nuts that these used car dealers were selling used cars for more than new cars of the same model/year (this is especially bad because they pray on the low credit and low educated buyers who don't know any better or don't have better options).

[Jeepnokc]

I'm love hearing the prices go down and their stock tanking. CarMax, Carvana, and others of their ilk totally took advantage of the pandemic and ramped up used car prices to ridiculous levels, and the public reacted. They promised their shareholders that the stupid pandemic growth would continue, much like Amazon did, and they'll end up paying for it. Maybe some sanity is being restored to used car prices now. It was nuts that these used car dealers were selling used cars for more than new cars of the same model/year (this is especially bad because they pray on the low credit and low educated buyers who don't know any better or don't have better options).

New cars are finally starting to come down also. I had been looking for a AWD Kia Seltos to add to the company fleet for the last six months, Every dealership in the region was charging $2000-4000 over sticker. Finally at the end of October, a dealer called me to tell me they had another one come in if interested. I told her I was only interested if it was at sticker. 30 minutes later they called back and said they would sell it at sticker if I bought it that day. I overheard them say they needed the sale to make their monthly numbers

[Rover]

I'm love hearing the prices go down and their stock tanking. CarMax, Carvana, and others of their ilk totally took advantage of the pandemic and ramped up used car prices to ridiculous levels, and the public reacted. They promised their shareholders that the stupid pandemic growth would continue, much like Amazon did, and they'll end up paying for it. Maybe some sanity is being restored to used car prices now. It was nuts that these used car dealers were selling used cars for more than new cars of the same model/year (this is especially bad because they pray on the low credit and low educated buyers who don't know any better or don't have better options).

Don’t blame the used car dealers for the supply disruptions of the pandemic. It was basic supply vs demand at work, no evil businessmen as you imply. In fact, used car dealers were having to pay much more for inventory themselves. Now they still have high priced inventory they probably can’t get their investment back on.

Gotta quit blaming the wrong people just to find a bogie man.

[okatty]

I have a 2013 Audi Q5 which I am selling and thought I would test the waters at the various car companies to see how they compare. CarMax offered $1,000 more than Carvana and about $1500 more than GiveMeTheVIN.com CarMax was also about $700 more than the dealership had offered for it.

Anyway, sort of interesting survey of the market. I am sure it could be different for various cars, ages, etc so pretty unscientific.

[Dob Hooligan]

I have a 2013 Audi Q5 which I am selling and thought I would test the waters at the various car companies to see how they compare. CarMax offered $1,000 more than Carvana and about $1500 more than GiveMeTheVIN.com CarMax was also about $700 more than the dealership had offered for it.

Anyway, sort of interesting survey of the market. I am sure it could be different for various cars, ages, etc so pretty unscientific.

May I ask if they were all in person, cash offers? Or were they made online without looking at the car?

[ChaseDweller]

Just sold my Land Rover LR4 to Carvana. They offered $8,000 more than Carmax. I got the offer online, made an appointment on a Saturday and took it in. They looked it over for about 20 minutes and the deal was done. Money appeared in my account on Monday. Easy deal. Bonus - got to watch the car vending machine work for a family buying a van. The kids were wide-eyed at the process.

[Bellaboo]

It's been several years, maybe 2009 ? We had a ford econoline 7 or 8 passenger van with 92,000 miles. Was in great condition. Took to Carmax and 'here it comes' offer was $2,900. We couldn't get out of there fast enough.
Within a week I put it in a local parking lot and sold it the next day for $7,700.00.
It still had up to 100,000 mile warranty (8,000 miles) left on it.

[Mesta Parker]

Several years ago I sold my 2014 Mercedes E350 to Carvana. They made an on line that beat CarMax and local dealers by several thousand dollars. Drove the car to Carvana at the appointed time, they handed me a check and I gave them the car. Easiest car transaction I ever had.

[okatty]

May I ask if they were all in person, cash offers? Or were they made online without looking at the car?

The CarMax and dealership quotes were in person. The other two were online.

[okatty]

It's been several years, maybe 2009 ? We had a ford econoline 7 or 8 passenger van with 92,000 miles. Was in great condition. Took to Carmax and 'here it comes' offer was $2,900. We couldn't get out of there fast enough.
Within a week I put it in a local parking lot and sold it the next day for $7,700.00.
It still had up to 100,000 mile warranty (8,000 miles) left on it.

The parking lots have always done it for me too. The one I used out on far north Portland is no longer allowing you to park cars there. I sold several from there.