OFFICIAL Carvana experience thread

[Chester Copperpot]

In a shocking turn of events, Carvana is now the lowest offer and Carmax is the highest, 26k to 32k for my truck. With almost 20k more miles on it since last year. Autotrader still shows $35-40k mark with 100-150k miles.

The turn tables.

 

[Gav'sPurpleZ]

carvana probably blew their wad last year

 

[Rent Free]

I hope they all get busted sitting on mountians of used inventory.

Carmax
Carvana
Vroom

All of them.

The Carmaxes around here run out of lot space ages ago. I know of 2 using mall or metro parking ramps.

 

[Dan00Hawk]

All dealers will adjust their offers regularly based on their inventory levels of like vehicles, trends of how long it took to sell a similar vehicle and what the profit margin was, and what comparable vehicles are selling for at auctions. Also, some dealers use Carfax and some use Autocheck, which means a "negative" history report that shows up on one but not the other may also influence an offer's value. Our 2019 Beetle showed "minor front damage" on Carfax, but showed nothing on Autocheck. We got higher offers from the dealers that used Autocheck, for example.

 

[Pro Stock John]

.. Is Carfax the best way to check the history of a car/truck these days?

 

[Aircal]

I hope they all get busted sitting on mountians of used inventory.

Carmax
Carvana
Vroom

All of them.

The Carmaxes around here run out of lot space ages ago. I know of 2 using mall or metro parking ramps..

Still enough demand for them. They are stacked up because of the DMV. They only process a super small amount of titles a week. If they would get off their lazy asses could finally get those vehicles for sale.

 

[IZZy]

Carvana allegedly leaving car buyers on the hook after selling cars without title

Some buyers have claimed to have waited about a year for the title, well over the 30 days allowed by law in some states for a company to provide the documents

www.foxbusiness.com

 

[Dan00Hawk]

Carvana allegedly leaving car buyers on the hook after selling cars without title

Some buyers have claimed to have waited about a year for the title, well over the 30 days allowed by law in some states for a company to provide the documents

www.foxbusiness.com

Carvana is either buying cars at auction listed "Title absent", or does a terrible job with their business office in handling the process. Typically if there's a loan, the title comes in within a few weeks of the payoff being processed. Most reputable dealers won't bother selling a car until they have that title, or at least know when it's supposed to arrive, as it can lead to the problems that Carvana is experiencing.

 

[Jimy Bilmo]

Carvana is either buying cars at auction listed "Title absent", or does a terrible job with their business office in handling the process. Typically if there's a loan, the title comes in within a few weeks of the payoff being processed. Most reputable dealers won't bother selling a car until they have that title, or at least know when it's supposed to arrive, as it can lead to the problems that Carvana is experiencing.

The real problem right now is Illinois, and likely other states. IL is taking 4-6 months for titles to come through. So they'll buy a car, pay off the lien, then they have to wait for IL to get their thumb out of their ass, and reprint a fucking title. By this point, the car is probably already sold, said title now gets transferred to new owner (and likely bank), and the next wait begins. It's all horseshit, "covid."

 

[Outlaw]

Just helped my friend sell his 2016 Chevy Spark to Carvana. Base model as you can get. 5-speed. Bought it new in 2016 for $10,200 out-the-door. 23,995 miles on it since he got a company truck shortly after buying it, but hung onto it because it was a $5,500 car pretty much since he drove it off the lot...

Carvana gave $12,784

 

[frank]

Did not know this

Carvana Just Bought An Auction House For Billions To Expand Its Used Car Capacity

The $2.2 billion sale of ADESA to Carvana signals the company is looking to get a lot bigger as the used car market remains hot

jalopnik.com

 

[blue-sun]

Carvana Had A Not So Great, Very Terrible First Quarter

The used car dealership chain struggled to sell off its stock, reporting its first-ever sales decline

jalopnik.com

 

[frank]

I see a Carvana fire sale happening by the third quarter where everything must go!

 

[Jon01]

I see a Carvana fire sale happening by the third quarter where everything must go!

Agreed. I think the car market as a whole is ripe to take a massive shit.
We have been debating buying a used Duramax 1/2 ton Denali or High Country so I've been watching the market. It's ebbed and flowed over the last several months, but lately I've seen trucks that would have sold quickly at asking a month ago sitting on lots.

 

[Caleb515]

I’m looking to sell my car in a month after we close on our condo. Checked Carvana as it’s the easiest option and there offer has GONE UP since last time I checked like a year ago.

I think this whole car bubble is bound to pop soon, but seems like they are still giving aggressive offers.. there offer is $4k more than what I paid for the car 10k miles and a year and a half ago.

 

[SpeedSpeak2me]

Agreed. I think the car market as a whole is ripe to take a massive shit.
We have been debating buying a used Duramax 1/2 ton Denali or High Country so I've been watching the market. It's ebbed and flowed over the last several months, but lately I've seen trucks that would have sold quickly at asking a month ago sitting on lots.

I'm okay with them sitting. My 07 NNBS Silverado is rusting away on me. Mechanically it is a solid 95%, as well as the interior. But electrics are starting to act up, rockers are gone, rear wheel arches are gone... sad to see such unbalanced wear and tear.

Sad to say I expect to have to replace it in the next 12 months, so dropping prices are okay with me. No way I can afford even a stripped down new model.

 

[blue-sun]

Carvana Lays Off Thousands of Workers, Buys Car Auction Company for $2.2 Billion on the Same Day​

An estimated 2,500 Carvana employees will lose their jobs.​

Carvana Lays Off Thousands of Workers, Buys Car Auction Company for $2.2 Billion on the Same Day

An estimated 2,500 Carvana employees will lose their jobs.

jalopnik.com

 

[willsmysticcobra]

I think these companies are hurting bad.... I mean look at Vroom's stock history over one year....

 

[Jon01]

Looks like the person buying their cocaine was in the first round of layoffs.

 

[frank]

The Adesa auto auction goes back to March when Carvana started the transaction.

They own 56 auto auctions now, and have a stock pile of cars, they are no dummy’s, they will come out of all this smelling like a rose controlling the market for the next few quarters with sale prices.

 

[Jimy Bilmo]

The Adesa auto auction goes back to March when Carvana started the transaction.

They own 56 auto auctions now, and have a stock pile of cars, they are no dummy’s, they will come out of all this smelling like a rose controlling the market for the next few quarters with sale prices.

They'll just slow roll releasing inventory, keeping the demand and prices high.

 

[frank]

They'll just slow roll releasing inventory, keeping the demand and prices high.

100% correct. Car dealers will be at their mercy … Carvana, auto nation, litha motors, sonic, Penske, etc…where else are they going to get the cars they need to sell.

 

[Jimy Bilmo]

Ultimately, it's US, the consumer, that gets fucked by the price gouging.

 

[jason05gt]

The Adesa auto auction goes back to March when Carvana started the transaction.

They own 56 auto auctions now, and have a stock pile of cars, they are no dummy’s, they will come out of all this smelling like a rose controlling the market for the next few quarters with sale prices.

They are in real trouble.

They are hemorrhaging cash, lots of debt, stock is in the toilet, etc. ADESA made $100M (EBITDA) last year and I'm guessing the business is going to tank. The winner will be Manheim and other auctions.

 

[frank]

They are in real trouble.

They are hemorrhaging cash, lots of debt, stock is in the toilet, etc. ADESA made $100M (EBITDA) last year and I'm guessing the business is going to tank. The winner will be Manheim and other auctions.

I agree, and the Carvana ownership has gone BK in the past with other companies and can see Carvana corp going BK, restructure and wiping all the debt and starting off at nothing with loop holes to use to their advantage.