Large drop in my Carvana offer????

[MakinDoForNow]

Possibly. Just like how car prices go down if they’re still on the dealer lot from the previous year when the newest model comes out. Makes sense.

I’d recommend that you use CarMax. They will give you more money.

Just over a year ago I had a price difference of $4300.00 more from CarMax than carvana. Checking websites carvana had six mavericks available CarMax had one. Driving by CarMax a few days ago in Austin it appeared that CarMax lot was very full of all cars so maybe supply and demand is at work. Due to interest rates now I would pay cash but most choose to finance so their payment would be much higher at higher sale price.

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[crisco55]

They have a back log of 24’s so the price on those are gonna bottom out the market for a While.

 

[Whitty1]

I ran my 22 Lariat EB to get an updated value. It was $27,000 on December 21st. Yesterday it was 21.6K. Big drop. Not sure if it is because it is now 2025 and the vehicle is now pushing three years old or what. Mileage only changed from 25,424 to 25,715. Wondering if it is because of year change or has market conditions dropped the value that much? Unsure.

Interestingly, on My Ford account they are showing 25.6K as trade in value as of today.

Never seen that much difference!!!

Maybe Carvnna is stocked up on them and they don't need them right now. All these new car lots are stuffed full of vehicles which effects your trade-in value

 

[DefiantDJ]

Interestingly, on My Ford account they are showing 25.6K as trade in value as of today.

Never seen that much difference!!!
[/QUOTE]
Interestingly, on My Ford account they are showing 25.6K as trade in value as of today

[/QUOTE]

How do you find trade in value on My Ford? Is it on the app, or on-line? I don't see it on the app.

 

[edin702]

My 2024 Lariat not part of the recall is 31K on Carvona.

 

[d7602002]

The Camry I traded in for my Maverick I had checked on carvana and on CarMax I think it was and both offered me $5,000 for it. Then I get a note from carvana that it actually went down to 4400 and then it went up to 4800. I figured I would try to sell it to one of those places rather than traded in.

But the most I was ever offered over about a month and a half was 5 grand so I went to the dealer and said how much will you give me for a trade and they said 5,000 so I said okay. Figured I wasn't going to get any more than the five and I'd rather just trade it in and get rid of it and move forward. Probably could have sold to a private party for more but just didn't feel like having it sit in my yard.

 

[Suzukiridr14]

CG-ATW,
You are exactly right. Those 24 models being held up for a backup camera issue are now a brand new 1 year old vehicle. It’s obvious that buyers have noticed that the 2025 models prices have increased over the 24’s. When all the 24’s are finally fixed and released for sale & delivery, the dealerships will need to sell them as quickly as possible so you would expect to see discounts on them (24's). Carvana, Carmax and all dealers know this as well. That, in turn, makes your trade-in worth less than it was. Every time a new year model hits, it reduces the value of previous year models of used units, as well as new units that are a year old.

Another thing to note:
IF a factory rebate is offered, it also reduces the trade-in value of all similar units. ie) If I own a 2024 Mav and Ford decides to offer a $1,000 factory rebate on new 2024 Mavs, my used unit would be worth $1,000 less than it was the day before. The same holds true (basically) if I own a ’24 and Ford offers a rebate on a ’25 model. Mine becomes worth less than it was before the rebate offering.

These are all things that you already knew. I realize that it leaves a bitter taste in everyone’s mouth but I assure you that it’s true. What will hurt used values the most for us is when those ‘24s that are being held up finally get released for delivery. Something to consider, my friend.

I agree with you about what value vehicles are retaining, but why are people worrying about what there truck is worth today? Most of us bought our trucks because we were looking for something to keep for 5, or more years. When I'm ready for a new vehicle, then I will worry what my trade in is worth! My truck is NOT FOR SALE, maybe when the 2029's come out.

 

[CTYankee]

I traded my 22 XLT 2.0 EB AWD with Lux, 360, and moonroof on 12/24 against a 2020 Ranger Lariat and got $24.5K for the trade-in.

The Maverick was around 14,850 for mileage and had the swing case, a hard rollup cover, and the BedRug bed mat installed. The dealership sold it in just over a week with an asking price of $28.5K (no idea what they actually sold it for).

All other trade-in offers had come in at around $22K, which is slightly higher than anything I'd seen from CarMax, Carvana, et al.

 

[No Brand]

To ^^^^"All of The Above" ^^^^^ deploring the 'supposed' drop in value.

If you are not actively selling the vehicle, why does it actually matter?

Are you the same people that check the value of your residence on ZILLOW and log in to your Fidelity/Schwab/Goldman 401(k), IRA accounts weekly and whine about the stock market?

A vehicle (almost any vehicle) is a depreciating asset, your home is an appreciating asset (possibly) with a rent deduction, your paper assets are just that...paper. All paper denominated assets will revert to their intrinsic value at some point.

Enjoy your vehicle it is a mode of transportation.

 

[Scott Asheville]

I've never considered new cars to be an asset, except for the 0.5% that are collectables. Cars are a consumable service. And they cost real money - way more than most owners are aware of. Because not many owners add up the numbers for depreciation, fuel, insurance, taxes, registration and licensing, and maintenance.

A typical vehicle in the USA, when you add it all up, averages $10,000 per year. And most of us have two or three vehicles. So when you're wondering where all your money goes...

https://www.aaa.com/autorepair/articles/average-annual-cost-of-new-vehicle-ownership

I like new cars. But I've always been honest about what they cost me. There's a $20,000 per year "transportation" entry in my budget for the two new or at least relatively new cars that are always in the driveway.

 

[Mikestill1]

Well i know the OP wants max value for their sale, but at same account, this might be the finally used car prices dropping we all were hoping for?

 

[Mark1]

I've never considered new cars to be an asset, except for the 0.5% that are collectables. Cars are a consumable service. And they cost real money - way more than most owners are aware of. Because not many owners add up the numbers for depreciation, fuel, insurance, taxes, registration and licensing, and maintenance.

A typical vehicle in the USA, when you add it all up, averages $10,000 per year. And most of us have two or three vehicles. So when you're wondering where all your money goes...

https://www.aaa.com/autorepair/articles/average-annual-cost-of-new-vehicle-ownership

I like new cars. But I've always been honest about what they cost me. There's a $20,000 per year "transportation" entry in my budget for the two new or at least relatively new cars that are always in the driveway.

10k per year must be the cost of a very high end car or truck with no down. Your cost is a little high. This is why buying a minimum 1 year old vehicle from a private party and sometimes a dealer is a much better deal.

 

[brielee3]

So, there are a lot of posts in this thread that all seem different ways of saying....

People are remembering that new vehicles are one the worst depreciating assets you can own?

Should we retitle the thread, "Why did it take so long?"

 

[paneubert]

As many have said, the values from these automated systems vary wildly, even on the same day. I put my 2023 XL with less than 10k miles into Carvana last week and it said they would give me 21K. Same day, CarMax said 23.5K. Same day, the KBB "Instant Cash Offer" said......19K and sent my contact info to 3 local dealerships who all started calling me asking when I wanted to bring in my truck with less than 10k miles on it to sell to them for 19K. No thanks.......

 

[icegradner]

The car market in general right now is in some major turmoil as used prices come down somewhat from the COVID surge, which is leaving a lot of dealers and individuals upside down on loans for cars purchased that have depreciated faster than expected.

Then there are vehicles like the Maverick which have been overvalued due to limited avaliblity. The more I read now on various places, people are just walking into dealers and getting MY25 Mavericks off the lot. The days of low supply is over and the market is correcting used Maverick prices to where they should have been the entire time. People have forgotten that the Maverick is Ford's entry level vehicle in North America, due to the supply shortage. The reality of owning a budget vehicle is hitting people now.

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