Carvana is paying big $$

[SemperVee]

Yup. After trading in our 2016 Ford escape for a new 2020 Mustang HPP stick shift. Just to see and for grins I offered up my 19 Ranger XLT with Nav, etc etc and was multiple offered from $30,000 locally - $34,000 by Carvana.

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[Tom_C]

I posted about this in another thread. I bought a 2020 ranger lariat about a month ago. I had a really cherry 2009 outback with low miles and had listed it on craigslist for $9000.

I had a carvana price at the time of $8200. I bought the truck and as soon as I got home I re-ran the carvana quote and it was $8610. At that point is was a no brainer to me to not have to deal with a private sale.

The Carvana sale was painless. Get the quote, schedule a pick up, and they come get it, hand you a check, and your car is gone in 10 minutes. I doubt I would buy anything from them (no presale inspections and huge pricetag) but I would sell again to carvana in a heartbeat.

For those that don't know. There is a chip shortage right now and all car production is either severely limited or completely shut down. Wholesale prices have been increasing 1-2% every week for about 2 months. Car dealers can't get used inventory at auction, it doesn't exist.

I had my outback on craigslist for about 4 days and 3 different dealers contacted me and said they'd pay more than carvana and come get it. Probably should have contacted them to compete with carvana, and in the end I just wanted to get it done.

 

[Chris M]

I couldn't stand the pressure, so I checked...


Your Carvana Offer
$27,504
SAVE & CONTINUE

Expires Monday, April 26

2019 Ford Ranger SuperCrew
XLT Pickup 4D 5 ft
21,000 miles

I think I'll pass, as it's just not near enough to make me want to look at trying to upgrade or change brands (definitely not change brands).

 

[GregsFX2Ranger]

I purchased my XLT Sport 4x4 Super Crew in august 2020 for 32728. Carvana is offering me 36825. So incredibly tempted as I would net 7500+ after payoff. Wife won’t let me. She knows how much I love my vehicle.

That makes no sense. Could you know buy the same pickup today for under 36825?

 

[r1ch999999]

I might check with them, but not until after I close on my house. I like the truck but want to get top dollar before my bronco comes.

 

[MTB-BRUH]

Is Carvana trying to buy up as much of the used market as possible so they have the majority of the used market? I see why people would sell to them but I don’t see why you would buy from them.

 

[Tom_C]

Is Carvana trying to buy up as much of the used market as possible so they have the majority of the used market? I see why people would sell to them but I don’t see why you would buy from them.

I don't really know what they're game is, but one thing is true. Car sales in 5 years is going to be much different than it is today. FWIW, Carvana has never made a profit, but they are a multi-billion dollar company. They're obviously playing the long game here.

 

[GregsFX2Ranger]

I honestly don't see how Carvana is buying vehicles at such high prices. Where is their margin and profit in reselling.

I did a quote, and it came back with $33,601. I only paid under $28,000.

Why could Carvana give me $5601 more than I paid for this truck???????????

MSRP on the truck was only $34,300.

You could probably go buy the SAME RANGER I have for $30,000 (rebates changed).

So, what's in it for Carvana to pay $3,600 over that one could buy one NEW?

I don't believe the online quotes. I think they are throwing that # out, and then probably offering LESS once they arrive to assess the vehicle.

 

[Tom_C]

To GregsFX2Ranger

They want to make money on the back end. Financing, warranties, etc. And also, their sale price is way inflated, too. They offer more on the front and sell the car for more on the back.

 

[Tom_C]

its interesting as well because i have seen local dealerships and other used car lots posting ads as well looking to pay top dollar for trucks.
it seems the covid, as well as other market issues has created a void on new vehicles so the used market is high in demand

New car stock is way down. Covid hit the manufacturers. There's a chip shortage halting car production. The Texas cold snap actually hurt manufacturing of foam for seats and other things. Triple whammy. When I bought my truck a few weeks ago I had to go to a dealer 3 hours away because the truck I wanted didn't exist.

 

[GregsFX2Ranger]

I did the KBB trade on offer, which was quite high as well (not that a dealer would actually give KBB offer).
KBB would NOT give an instant cash offer, however.

BUT, Carvana and KBB trade in offer are offering a lot more than I paid for the truck!!!

 

[Zaph]

All markets are crazy right now. Take for example my other 2 hobbies - bicycles and motorcycles. Shop floors are empty.

I wanted a new mountain bike. I can't have one. (well unless I get one that's too small or too big for me - those are plentiful) Here's an article called "Bicycles are the new toilet paper". I was just at a shop yesterday. Everything they can get in for 2021 is already sold. WTF.

Walk into a motorcycle dealer... you see maybe 6 or 8 unpopular bikes on the floor and that's it. Look on craigslist and the bikes you do see are selling for selling for $1000 over MSRP used even if they are 4 years old.

Freaking crazy... and has me eying up my garage full of more motorcycles than I can ride with $ signs in my eyes.

 

[Langwilliams]

I have an xlt extended cab 4x4 with 15K on it an my carvana offer was $25200 I admitted to altered suspension with level struts. I was thinking of ditching the payment an retiring an buying a beater

 

[AzScorpion]

So I had to do another Caravan because you guys are getting such great prices. I guess they upped their game here because my newest quote is $31,738. Now I'm not positive that last years was $23,000 but I know it was somewhere in the $20's. Still an interesting off but I'm not enough to sell right now.

 

[FoD]

So I had to do another Caravan because you guys are getting such great prices. I guess they upped their game here because my newest quote is $31,738. Now I'm not positive that last years was $23,000 but I know it was somewhere in the $20's. Still an interesting off but I'm not enough to sell right now.

Yeahhhhh, but...if the Bronco you're drooling over was out there, you'd snap this deal up for major down unless the dealer match + incentives was a tad better...maybe... ?

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