Carvana Pricing Dropped Off a Cliff

[NoVaJimmy]

A little less than 2 weeks ago I received a quote from Carvana to sell them my 2022 XL AWD Maverick for just about $30,500. A family member is in the process of purchasing a new vehicle and offered to sell me their old vehicle at a great price which would have replaced the Maverick. I followed all of Carvana's steps, sent in photos, copy of registration etc and they told me a representative would contact me if anything else was needed. Last week I decided to check in on the process and saw that my offer had expired despite being in the middle of the process and not being required to submit any additional info. Carvana customer service said they were going to look into it and then yesterday just said the price expired because I failed to submit a copy of my driver's license even though I definitely had submitted it and at the time they said they didn't need anything else from me. They basically said "sorry, get another offer". I did, their new, updated offer was just over $25k which is still not bad considering that's what I paid for it last April but a far cry from their previous offer so I said no thanks. I'm thinking that their forecasting software realized that they're overbought on Mavericks and maybe they see a change in their customer's buying habits so they intentionally voided my offer but something is definitely going on and it seems like the tides have changed. Just wanted to let you know my recent experience, maybe some of you looking to sell to Carvana will have better luck than I did.

Sponsored

 

[adsandiego]

A little less than 2 weeks ago I received a quote from Carvana to sell them my 2022 XL AWD Maverick for just about $30,500. A family member is in the process of purchasing a new vehicle and offered to sell me their old vehicle at a great price which would have replaced the Maverick. I

mine went up. it depends on your location. and hybrids have more value.

 

[Donodo]

Everyone would be wise to sell their Maverick as a private party, then to give it away to the likes of Carvana and the others like them.

 

[NoVaJimmy]

Everyone would be wise to sell their Maverick as a private party, then to give it away to the likes of Carvana and the others like them.

I'm sure you're charitably going to sell your home to a person in need as well instead of getting the best price possible....

 

[adsandiego]

Everyone would be wise to sell their Maverick as a private party, then to give it away to the likes of Carvana and the others like them.

yes, nowadays stay away from carvana, carmax . use them as a benchmark ... add a couple Ks to their offer and sell privately . although driveway.com is quite aggressive with their offers. worth considering if you dont want the hassles of private sale.

 

[NoVaJimmy]

mine went up. it depends on your location. and hybrids have more value.

Considering the fact that the order bank is still open for the 2024 Maverick and people are reporting that their dealer has stated they have open allocation for hybrid Mavericks I really do wonder if the used car market is tanking. My selling dealer called me to ask if I wanted to place an order for a 2024 which I declined. Value doesn't mean anything anyway unless you plan on selling it which I did, looks like I missed the boat unfortunately.

 

[NoVaJimmy]

yes, nowadays stay away from carvana, carmax . use them as a benchmark ... add a couple Ks to their offer and sell privately . although driveway.com is quite aggressive with their offers. worth considering if you dont want the hassles of private sale.

Too many tire kickers and people wasting time. I tried to sell my motorcycle last summer and had nothing but people wasting my time and mostly just throwing out insane lowball offers even though I was already asking far less than book value.

 

[adsandiego]

Too many tire kickers and people wasting time. I tried to sell my motorcycle last summer and had nothing but people wasting my time and mostly just throwing out insane lowball offers even though I was already asking far less than book value.

yeah. selling privately is a PIA.

 

[Donodo]

I'm sure you're charitably going to sell your home to a person in need as well instead of getting the best price possible....

pardon me, sir, but I truly don’t understand the point that you are making

 

[StillWaiting]

It’s been going up and down for me. But at the same time, I can’t think of a better vehicle to buy

 

[Jeffchen]

Just got a quote from Carvana today, 2023 XL Hybrid with cp360. 800 miles only. The other company call CarGurus offer 26K.

 

[Bob The Builder]

It's been said everyone has their price. While true in principle, my price would be much more than I believe Carvana would ever be foolish enough to offer.

Check out KBB prices. 2023 XLT FX/4 Lux with say 5K on the clock has a trade in of $35,300 in VG condition. In the event of a total my insurance company says they look at both KBB and what the vehicles are selling for. Maybe most do.

That quote above for the hybrid has to be way, way below book.

 

[NoVaJimmy]

It’s been going up and down for me. But at the same time, I can’t think of a better vehicle to buy

I was going to sell it because I've had issues with mine....A leaking transmission start stop accumulator, leaking CV boots and rattles that cannot be fixed in addition to the various recalls. Also because I was going to be purchasing a very well cared for and much nicer family owned vehicle to replace it but for a $25k offer it's not worth it to me. I will agree that there's not much on the market that offers even close to the same combination of utility and value but maybe that will change once other manufacturers eventually bring their competition to market.

 

[skadizzle]

It's been dropping for awhile for me. I have a fully loaded 2023 Lariat hybrid with a sticker of $37k and the best offer I've gotten was for $37k/ It has since just kept dropping down. The latest is at $32k.

 

[NoVaJimmy]

pardon me, sir, but I truly don’t understand the point that you are making

Just saying that I can't imagine getting close to the Carvana offer in a private sale in addition to all the headaches that come with selling privately. It seemed like you were implying that I should think of people wanting a Maverick first instead of doing what is best for me financially speaking......

Sponsored