Quote:
Originally Posted by CamaroSSStlfan
When I looked on autotrader a few weeks ago I noticed the prices dropping, especially the places like Carvana and vRoom I noticed price reductions on the Camaro from their inflated prices.
With these price drops and how they were paying top dollar makes me wonder how they can turn a profit with insurance, storage, freight, employees, etc. Probably they have in house financing at higher interest rates for people with poor credit.
Later in the fall when there are more new models on the lot it would be foolish to buy used from them if they have high prices.
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Neither Carvana nor Vroom do their own financing in-house. They turn cars around fast, and they also move them from one market to another to get the best resale price. With demand being what it is, and likely continue to be, they won't be sitting on those high dollar purchases for long enough to lose much when the prices start to fall again.