Carvana offer plummets!

[Edrobyn]

I don’t own this truck anymore but if I still owned it I would make more selling it for scrap! I hope when (if) the time comes to trade for my Maverick the truck I own now won’t have dropped in value by 85%!

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[K5Blazer]

That’s all it was worth anyway.
Proper market adjustment.

 

[Edrobyn]

That’s all it was worth anyway.
Proper market adjustment.

I’d love to know where the “market” is to buy a truck like that for $800.

 

[RR - All the way]

My 22 Lariat went from 34k to 29k in six weeks. 11K miles. Latest bid is $200 more than MSRP I paid. Not selling it anyway, but quite a drop. The order banks may still be open partially because flippers see the future for a flip profit is not so great.

 

[Hdscreens]

Definitely, does not exist. I inquired about a 2010 F-150 with 260k miles and they want $10,000 for it.

I’d love to know where the “market” is to buy a truck like that for $800.

 

[CTYankee]

Carvana just sent me an e-mail updating their offer on my 2014 Rubicon with 48K miles from 21K to 17K. Unfortunately for them, the first person that looked at it when I listed it on CarGurus at the beginning of June bought it for $25K.

 

[Feldgary53]

Same situation for me and not just Carvana.
2 weeks ago got offers from Carvana, Driveway and CarMax and waited a week.
Bad idea! This week all three dropped $600-1000. Just sold my Ranger to CarMax today in preparation for arriving Maverick in September. My dealer offered $3k less than CarMax and suggested selling to them asap as he has been seeing the downturn in used values the last few weeks.

 

[Shay]

I got a similar email for another car i used to own this week that had a laughable $800 number where reality is more like 4-5k. Thinks its an algorithm bug.

 

[Fcnrwy]

My 22 Lariat went from 34k to 29k in six weeks. 11K miles. Latest bid is $200 more than MSRP I paid. Not selling it anyway, but quite a drop. The order banks may still be open partially because flippers see the future for a flip profit is not so great.

Ya, ALL the "Flippers" have Swam away...

GOOD!!

Jerry

 

[Dmat]

Carmax Offers has dropped a bit too. my 19 fusion went from an 18.6k offer to 16k offer over the last month.

 

[JASmith]

Ditto, glad I sold when I did, got $32K for it:

Its a good sign that perhaps the market is slowly normalizing.

 

[vRS]

Great... The trade in values and prices of used vehicles at auction are dropping, but dealers are still trying to sell them at the same inflated prices.

 

[jorl]

all a scam-bought our 22 XLT MAV and decided to sell the wifey's 2006 Toy Solara (garage-kept creampuff 130K miles) CarMax offered $600.We sold it to the first buyer for $6K no haggling-they just trying to make up their asinine losses

 

[Ktowntimmy]

I don’t own this truck anymore but if I still owned it I would make more selling it for scrap! I hope when (if) the time comes to trade for my Maverick the truck I own now won’t have dropped in value by 85%!

My 2011 Ranger dropped nearly 10% between June 28 and July 3rd. I guess the new KBB came out July 1st.

 

[Montana]

Yea I've been saying this for a while now to people reporting crazy offers from these places. The offers do not even reflect what they will pay usually. Even if you check the "good" category they will mark down for normal wear and tear on something practically brand new and I have not seen one single report this year that can be backed by a factual offer of someone essentially making what they will sell the vehicle for.

KBB even reports to your local dealers, so when you go in and get an offer, they will have the history of what you checked on KBB. Last year I even had a dealer call me saying they were interested and I never contacted them to initiate a potential sale.

It's come full circle. These places might still mark vehicles up, but they certainly are not buying them for more than you paid.

To the OP: You should definitely private sale a vehicle this old with that many miles.

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