[MPowered]

Some friends just sold their car to Carvana and got a killer price, and it was significantly higher than the other services like Carmax, Cargurus, etc... I was suprised because I checked the usual like KBB and NADA for a general market value of the car. The type of car that you sell makes a hugh difference in pricing that you receive. I suspect Carvana may have buyers looking for specific models maybe through some sort of request, so if you just happen to have one for sale, you'll get a good price.



The cold weather is here, so it's not surprising that Carvana is lowballing rear wheel drive sports car.

[jamala00]

Originally Posted by MPowered

Some friends just sold their car to Carvana and got a killer price, and it was significantly higher than the other services like Carmax, Cargurus, etc... I was suprised because I checked the usual like KBB and NADA for a general market value of the car. The type of car that you sell makes a hugh difference in pricing that you receive. I suspect Carvana may have buyers looking for specific models maybe through some sort of request, so if you just happen to have one for sale, you'll get a good price.



The cold weather is here, so it's not surprising that Carvana is lowballing rear wheel drive sports car.

They are not just lowballing rear wheel drive sports cars. I got a quote on a 4WD 2018 Chevy Tahoe as well and it was beyond rock bottom low. I also got a quote from Vroom, Driveway, and my local dealer. Used car prices have fallen. Glad your friend got an acceptable offer.

[bootss]

They just offered me 36k on my 2018 gmc sierra slt

Not the worst offer, but i could probably get a bit more.

Looks like they sobered up. Used cars are not supposed to be msrp, ever. Cars are generally not an investment and the last few years was a fluke.

[jamala00]

Originally Posted by bootss

They just offered me 36k on my 2018 gmc sierra slt

Not the worst offer, but i could probably get a bit more.

Looks like they sobered up. Used cars are not supposed to be msrp, ever. Cars are generally not an investment and the last few years was a fluke.

Agreed, now just waiting for the dealers and private party sellers to come down to reality as well. Most dealers and private party still are trying to get Covid prices for therm. They'll sit until they drop the price.

[sblavesc]

Originally Posted by jamala00

Agreed, now just waiting for the dealers and private party sellers to come down to reality as well. Most dealers and private party still are trying to get Covid prices for therm. They'll sit until they drop the price.

I know a few people in the car sales business, They all pretty much stated the same thing. Until they can get new vehicles in on the lot or until vehicle orders can be produced from time of order to delivery in 2-4 months used prices won't decline that much.....they are still having almost all incoming inventory sold before it ever gets there, that leaves used cars as the immediate option especially those who need a vehicle ASAP or just impatient to wait.

[jamala00]

Originally Posted by sblavesc

I know a few people in the car sales business, They all pretty much stated the same thing. Until they can get new vehicles in on the lot or until vehicle orders can be produced from time of order to delivery in 2-4 months used prices won't decline that much.....they are still having almost all incoming inventory sold before it ever gets there, that leaves used cars as the immediate option especially those who need a vehicle ASAP or just impatient to wait.

Don't disagree with any of that. If the used car market has tanked, dealers can still ask whatever they want... Weather they sell them at inflated prices or not will need to be seen. I do see the dealers by me as well starting to accumulate new inventory on the lots. So far the most I see are pick-ups, but they are slowly getting more and more new car inventory. It does seem to be the import brands that are having a harder time getting new vehicles to the lots.

[m6-lt1]

Originally Posted by sblavesc

I know a few people in the car sales business, They all pretty much stated the same thing. Until they can get new vehicles in on the lot or until vehicle orders can be produced from time of order to delivery in 2-4 months used prices won't decline that much.....they are still having almost all incoming inventory sold before it ever gets there, that leaves used cars as the immediate option especially those who need a vehicle ASAP or just impatient to wait.

The asking prices of used cars has come down, just not as fast as the trade in values have. Because the trade in values have come down, you’ll be able to negotiate with private sellers much better right now than this time last year. I found a sweet deal on an 1le but it was the wrong color. Found an even better deal after that one got traded in but the color was even worse haha. Also while I haven’t tried, I’d bet you can negotiate on prices of used cars now versus this time last year. Dealers are losing money each month their cars sit and they are sitting because demand is down along with their ridiculous asking prices. Also because they are back to low balling customers on trade ins there should be room to negotiate from their asking prices now for recent used inventory. Auction prices are almost back to normal.

[jamala00]

Sounds like they are on track to lose $2 Billion dollars for 2022.

[bootss]

The other side of this coin is, they arent making many cars. I think models like a zl1 1le with a manual trans will depreciate much less than average. They just dont make many of them. Production is over in 2024. So maybe another 2000 cars. It’s no minivan which depreciates like it should, but it’s certainly overvalued now. Good deals are out there, jist hard to find.

[MPowered]

Originally Posted by bootss

The other side of this coin is, they arent making many cars. I think models like a zl1 1le with a manual trans will depreciate much less than average. They just dont make many of them. Production is over in 2024. So maybe another 2000 cars. It’s no minivan which depreciates like it should, but it’s certainly overvalued now. Good deals are out there, jist hard to find.

I think GM will be lucky if they can crank out 200 ZLEs next year. At the rate that they're going, the MY24 ZLE will probably be the rarest of sports car. It's kind of sad even when Ford produces more GT500 CFTPs.

[BLACK21SS]

About three weeks ago, Carvana offered me $55k and change for my ‘22 ZL1 with 700 miles. I got a good laugh.

[paradigm]

Carvana and similar are facing serious financial turmoil right now. They are upside down on a huge amount of aging inventory. Its no surprise that they are offering rock bottom prices on cars.

[taylorforschool@gmail.com]

Originally Posted by BLACK21SS

About three weeks ago, Carvana offered me $55k and change for my ‘22 ZL1 with 700 miles. I got a good laugh.

Yeah that’s pretty dumb, gotta love it when people think you are more desperate than they are

[Jus Cruisin]

Apparently Carvana put a deal together for my neighbor. Truck picking up their GMC mid-size suv yesterday afternoon and they pulled into their garage with a mid-size Cadillac suv last evening. Not sure if it is used or new. Assuming new.