Carvana Pricing Dropped Off a Cliff

[surfstar]

It's also much harder to flip a 2024 - the market is dropping for sure, so by the time you get your '24 hybrid built, it will be even lower - PLUS the 2024s have gone up substantially in MSRP vs 22 and even 23s.

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[Fcnrwy]

Ya, I figured the "Flippers" had head-out to sea, when the banks are still open at the end of July.
As far as prices, dropping of a cliff. Maybe not that much.
BUT, I have a Carvana account and have checked it every week or so to see whats current.
I have for the past month, gotten daily emails on price drops on Mav's that I have looked at.
More in the $500 to $1000 range..

As far as competition... That's vaporware...

Jerry

 

[Hansolo]

Hey well I live in such a remote part of Oregon 97411 the Carvana like apps say sorry we don’t service that area. And private party sales are limited by nearby population.

 

[Ozarkbeard]

yeah. selling privately is a PIA.

It can also be dangerous. I know knew someone who was murdered, while trying to sell their motorcycle online.

 

[Ktowntimmy]

The used car price bubble was caused, in large part, by the pandemic and supply chain issues. Many of those issues are being ironed out. The bubble may not have burst yet (in certain areas), but it’s leaking and will probably be deflated completely in the next year or so…barring another calamity. By this time next year, you’ll probably be able to find what you want, in stock, at a nearby dealer. There has been some talk, however, by some manufacturers, to go to a factory order only system. I hope that doesn’t happen.

 

[Ktowntimmy]

Hey well I live in such a remote part of Oregon 97411 the Carvana like apps say sorry we don’t service that area. And private party sales are limited by nearby population.

There’s a “Maverick Marketplace” both in MTC and Facebook that will advertise your Maverick nationwide. Then you’re only limited by the population willing to travel to your location.

 

[Tim d]

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.

Maybe the craziness on used car pricing is finally ending! Actually surprised you are still getting what you paid almost 2 years ago. This is a good thing for the consumer.

 

[Automate]

I got 2 hybrids coming 2024 and they are both have a built date already I think the wait times are a thing of the past now that the flippers are gone

How do you have a build date on a 24 already? First 24 scheduling is not supposed to happen until tomorrow.

 

[JGG2]

How do you have a build date on a 24 already? First 24 scheduling is not supposed to happen until tomorrow.

I was wondering the same.

 

[BoskoPColtrane]

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....

I think he is saying you will get more from a private party, hence the “giving it away” quote. Just my interpretation.

 

[08ranger]

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.

I have never had good luck with Carvana. I had a 2008 Ranger I was selling with 205K on it (but running great-I bought new and took care of it). They offered $500! I sold quickly on a community Facebook site for $1500.

 

[athertonbt]

My ‘22 XL EB FWD is still at $27,241. That’s about $6k over what I paid tax and all. Still a crazy number for a base Ford that’s soon to be two model years old.

 

[LM42]

It can also be dangerous. I know knew someone who was murdered, while trying to sell their motorcycle online.

While of course this can happen, it is exceedingly rare. This is hardly a reason not to do it.

 

[gwrace14651]

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.

We had thought about doing the same with a 2015 Honda Accord Hybrid we own. Went from a 17K offer to 11K just in a couple of weeks. We only paid 24K for it back in 2014.

 

[Suzukiridr14]

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.

It's an easy, and fast sale with Carvana. They give a fair price with no problem. Unless you have a buyer with cash, It's not worth the time and hassle putting a deal together with a stranger. If you sell to a friend or relative, you can't ask them to pay enough to cover a profit. Your choice.

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