Carvana is also being sued, which probably didn't help share price. there was talk they may go bankrupt after overpaying for too many vehciles and some not even having titles or problems coming to light on Carfax reports, etc.
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Keep in mind that Carvana will show you inventory across the country. Majority of those listings are nowhere near you, but Carvana will deliver it to you/a local delivery center if you order it online.
I would concur that the auto and housing markets are starting to fall back in line with something more realistic, well, at least as realistic as the current day is. I have seen autos sitting on lots now, and houses not being bought unseen and over the listing price. The entire economic structure is messed up. Those who bought boats and campers during the pandemic are trading them back or giving them back now via repossession. (speaking for my region only) And I still don't get how people are paying their bills by staying away from employment. Carvana went beyond their business plan, which from what I had read, was originally aimed toward $20-30k vehicles and the majority of the middle class workers who could make a $300-400 monthly payment and add the gimmick of getting an option to receive your car from a "vending machine ", or having it delivered.
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A local used car dealer in my area that sells nice clean cars is asking $17,500 for a 2005 Taco with 105K on the clock. Overall very clean, but pitted aluminum wheels, a few dings and a chewed up leather stick shift knob. No bed liner. Insanity.
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Yup, used car prices are crashing through July. I got my Maverick on June 17 and had a hard time getting decent prices for the two cars I was selling. It's gotten worse as the month has progressed. I sold my 2013 Volvo C70 to a local European used car dealer for $11,500, after only getting offered $6500 at CarMax. I stayed away from Carvana as they are so in debt, that Wall Street expects them to go belly-up by year-end. Same with Vroom. Both are now stuck with inventory that they bought high, and will now have to sell low. I figured the check might not clear. CarMax is still profitable, but not doing as well as 6 months ago.
By Christmas, when the recession is in full bloom, used car prices will be back to some sort of normal. The whole car market will be depressed, because interest rates will be even higher, and folks will be just trying to afford food, gas, rent, and utilities.
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Yes it seems like Carvana is low balling offers currently such as mine at $28,547.
KBB has my Maverick valued as a Trade-In at $30,508 to $34,811 and a Private Sale at $33,866 to $38,665.
I am currently awaiting my Vroom offer.
KBB has my Maverick valued as a Trade-In at $30,508 to $34,811 and a Private Sale at $33,866 to $38,665.
I am currently awaiting my Vroom offer.
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I guess this changes everything for the flippers! T'was good while it lasted. I personally had a very positive transaction with Carvana with a car I sold last year but I guess I won't attempt another go with them.
I got a quote yesterday for my 2012 focus with 156000 miles and they offered me $300 dollars. A coworker with a very similar focus in same condition and miles was offered $6000 dollars last month.
From my perspective, several people ordered Mavericks and when you have to wait 9-12 months some of us look for alternatives. During the long wait period, some of us purchased vehicles with shorter delivery times. I am in that category, so when my Maverick, ordered Oct 23, 2021, arrives chances are I may not have a use for it.
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My recommendation is to consider Carmigo. Back in May, Carvana offered me right around $33k for my base FWD XL EB. Carmax offered $28k, Vroom was around that number as well. I used Carmigo (they are a third party that auctions your vehicle to dealerships for a $350 sell fee) and cleared $34,500.
Earlier this month when our 2023 Integra arrived it was time to sell our Genesis G70. Carvana's offer was pathetic at $23,600. Carmax offered $27,000. Vroom offered $26,937 or some weird number. We used Carmigo again and got $30,200.
I recommend this often on here, but I am not a paid spokesperson or anything like that. I have just had 2 very positive experiences in the last few months and they are not well known at this point.
Earlier this month when our 2023 Integra arrived it was time to sell our Genesis G70. Carvana's offer was pathetic at $23,600. Carmax offered $27,000. Vroom offered $26,937 or some weird number. We used Carmigo again and got $30,200.
I recommend this often on here, but I am not a paid spokesperson or anything like that. I have just had 2 very positive experiences in the last few months and they are not well known at this point.
don’t say that too loudly! There are still many on this forum who plan on ordering two mavericks and making bank on the one they don’t keep! They will shout you down if you criticize flipping or the long term viability of it in the coming year! This high priced car market will never end! Money for everyone! 
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Nope just coming down . Originally could get 32.5k for it
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