My Carvana Offer

[huunvubu]

Please follow everything that is happening to Carvana, they can't sell cars in 2 states, and their licenses are revoked.

Yes I know that Carvana has lots of issues which is why the stock price is down but one of the States you mention has lifted the temporary license suspension and Carvana can again sell into Illinois again.

I-TEAM: Carvana allowed to sell cars in Illinois again

That said I would not currently buy Carvana's stock even at the current deflated price. I would however sell my Maverick to them or whoever else has the highest offer.

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[uh50]

- All the way, post: 300776, member: 10083"]
Carvana's stock was $361 in August; it closed $33.57 on Friday. Its last "earnings" was a negative $4.18 a share. They are bleeding money. Their apparent goal is to drive out competitors and then lower what they pay. Question is who will outlast who??

Between price increases for MY23 models and rising interest rates and then paying state taxes again, those planning on selling MY22's to buy the MY23's may not be laughing all the way to the bank. Hope that is not the case, but it is a possibility.

Great points about Caravana bleeding money and capital gains tax. There are plenty of stories about their financial woes. Not sure a company like Carvana has financial strength to drive out too many competitors and we have to remember, even though the brand dealers are independent they still have the financial strength of the manufacturers behind them. If they could afford rebates in the past, they can do so now. Carvana brags about on-line shopping without ever going to the dealership. But then on-line shopping is not new. I purchased a new 2003 Sonoma ZRX online and flew from Texas to South Carolina and picked it up.[/QUOTE]

 

[MLowe05]

I don't know why anyone would wish ill towards Carvana. This should be the way of the future. Right now, everything is just stupid. Values are stupid, inventories are stupid, etc.

Back when the world was still normal, buying a car from Carvana was a pleasure. They bent over backwards to make us happy on every purchase (we bought 6 cars from them in 4 years). If a key was missing, they replaced it. If we weren't happy with their detailing, they sent checks. If we wanted new floor mats, they let us buy them off eBay and reimbursed it. If we didn't like it after 5 days, we could return it and walk away. In our cases, we sold many of the cars back to them after less than a year because they would give almost the same amount as we gave to start with. There were no salesmen, no lies, and no games. It was almost too easy.

All of you should be advocating for this. Not just for used cars, but new ones as well.

 

[huunvubu]

My Carvana offer is now higher even after our 12 day 2800 mile vacation from Coppell (Dallas Suburb) to Saint Louis then to Iowa (Cedar Rapids & Dubuque) then onto Chicago then to Memphis and finally back to Coppell.

New Carvana offer is $35,646 on 6/17/2022.

Previous offer(s) were $34,889 on 5/29, $32,974 on 5/6 and $31,196 on 4/13. Over the previous two months my used Maverick has increased in value by $4,450. Not bad for what usually is a depreciating asset when first driving off the lot.

XLT Hybrid + Co-Pilot360, Cabin 120V/400W outlet, Sliding Rear Window, Hard Drop-In Bedliner

MSRP price was $24,620 but I paid 1.8% under at $24,174. Total Out-the-Door price was $26,068 that included $1,551 in sales tax, $150 doc fee and $193 in other state fees.

So Carvana's current offer is $9,578 over my Out-the-Door price or $11,026 over MSRP.

 

[MakinDoForNow]

Good luck with that... your tax preparer will confirm the capital gain tax status, and you can 100% bet the IRS has completely stepped up the identification and policing of the gains. I for one am not willing to falsify my Federal or state tax return and look over my shoulder every day for the rest of my life.

Good luck...

Obviously does not have a CPA do his taxes. Would it be possible that his CPA did not explain capital gains to him or maybe he failed to disclose the p&L of his car flipping business to his COA. And most likely he has overlooked the fine print in the signature box which says (not necessarily verbatim) that " in signing this I certify that the income stated herein is all that I have made" (not a good idea to NOT tell IRS about your car flipping business). I new a guy once that stopped filing an income tax and never had a problem for 11 years (if you stop filing IRS assumes you have died) and then made the mistake of getting a job which reported withholding. He then was presented a bill for 11 years taxes for what IRS figured he made plus penalties and interest for all those years.

 

[MakinDoForNow]

I never imagined selling it, but the offer was just too good. I imagined someone coming up to me in the street saying ill pay you what you paid for it. I would maybe laugh and kindly decline. But in this case its as if they replied by saying, well then I will give you an extra 10k on top of what you paid for it. As much as I like my truck, 10k+ was more than whatever emotional attachment I had for the truck. That said, even on the last day before they came to pick it up, I still questioned whether I should sell or not, because of how nice of a truck it is, and because of how much I liked it.

Im going to shop around a bit, but not too hard for a hybrid 22 at MSRP, or perhaps even a Santa Cruz. Depending on where things stand by the time that the 23 order banks open up, I may order one of those as a back up.

So it appears to me that you did get a truck and could not could not handle not waiting so you will wait for the 23 order banks to open so you can get back waiting.

 

[Enderet]

So it appears to me that you did get a truck and could not could not handle not waiting so you will wait for the 23 order banks to open so you can get back waiting.

Something like that, but not really. I turned around and the following week I bought a Santa Cruz.

 

[MakinDoForNow]

Something like that, but not really. I turned around and the following week I bought a Santa Cruz.

Santa Cruz reminds me of my nephew that had a Santa Fe and it was eating tires like crazy. After several sets of tires and alignment jobs he finally figured it out. Delivering several hundred newspapers and throwing them out the drivers window requires almost all right turns and cul-de-sacs clockwise at max possible speed will cause uneven tire wear!

 

[huunvubu]

My Carvana offer has for the first time come in lower.

Current offer on 7/1/2022 is $34,294.

Previous offer(s) were $35,646 on 6/17, $34,889 on 5/29, $32,974 on 5/6 and $31,196 on 4/13.

XLT Hybrid + Co-Pilot360, Cabin 120V/400W outlet, Sliding Rear Window, Hard Drop-In Bedliner

MSRP price was $24,620 but I paid 1.8% under at $24,174. Total Out-the-Door price was $26,068 that included $1,551 in sales tax, $150 doc fee and $193 in other state fees.

So Carvana's current offer is $8,226 over my Out-the-Door price or $9,674 over MSRP.

 

[cavemold]

My offer was 31,977 I could easily get 35k

Wow it went up !

 

[cavemold]

So I could get up size taco , Ranger , and even some older xlt f150s wow . And not be out of pocket .

 

[CSSMAVO]

My Carvana Offer just dropped 2k in less than a month. Original offer was 36,100.

My Build was a XLT FX4, LUX, 360. Cant believe its dropping this fast. Was going to consider building a Bronco and waiting, I may sell it to Carvana today and just pay markup to get a Bronco this weekend.

 

[cavemold]

My Carvana Offer just dropped 2k in less than a month. Original offer was 36,100.

My Build was a XLT FX4, LUX, 360. Cant believe its dropping this fast. Was going to consider building a Bronco and waiting, I may sell it to Carvana today and just pay markup to get a Bronco this weekend.

Mine went up crazy

 

[TheShark]

It's amazing how Carvana can be all over the place with their offers. I'd check with Carmax before you sell, Carmax has beaten the Carvana price on three different vehicles I sold.

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