Is Carvana Broken?!?

[Portcqb]

My sticker $32145 with under 2k mileage is $29,143 on carvana economy is tanking and interest rates are climbing. Cars will drop first followed by home prices

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[rlhdweman]

Glad to see reality creeping back into our "free market", hopefully housing & other sectors of the economy will start to follow. Happened to be in a city yesterday a couple hours from me & fuel was down to $3.68 there, so there is hope.

 

[Morgan33]

Carvanna was paying big $ for the generic xls. I think fleet people were buying them.
My xlt where I'm at was only 3.5 over MSRP . They are also in the news for paperwork and title errors again.

 

[Burch20]

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.

People are paying their bills with buy now pay later and payment plans on $100 items. Prime day just put tens of thousands in debt for the next 2 years.

 

[AndyVilla]

Just got a offer for a xl copilot 360 drop in 11670 miles liner 27,336

 

[AndyVilla]

 

[Eherby]

I for one am glad to see the end of this. Hopeful that people that have orders in for more than one Maverick will Cancel and let us regular guys get their truck sooner

 

[uga]

I don't think this is the end of the Maverick boom, folks think 2023's are right around the corner. Are they in for a surprise! The only folks that will see a 2023 for months are those still waiting for 2022 they ordered many moons ago.

 

[athertonbt]

Not too long ago that you lost about 20-30% in value as soon as you drove it off the lot. Any offer at break-even or above is still wildly inflated. Hope those who need/want to cash out are making plans to get it done.

 

[Burch20]

So I just drove by my local Carvana and there are no cars on the lot. I'm in DC. I've never seen the lot empty. Could be a bad sign for the flippers.

 

[MLowe05]

So I just drove by my local Carvana and there are no cars on the lot. I'm in DC. I've never seen the lot empty. Could be a bad sign for the flippers.

A Carvana lot, you say? Do you mean the vending machine? Or what?

 

[Burch20]

A Carvana lot, you say? Do you mean the vending machine? Or what?

I should have been specific. It's a delivery holding lot from what I can tell. Delivery trucks and a bunch of vehicles on the lot. I've seen 2 or 3 Mav's priced at $40-45k there.

 

[Danline]

I am sure that I paid too much, 42k, but I could afford it and I really wanted that truck; and the extra cost beat the hell out of waiting a year for something I needed immediately. And I love it!

Wow, you basically got a reverse 2 for 1 deal.

 

[bake]

With 202 miles it might as well be new.

 

[gte105u]

I should have been specific. It's a delivery holding lot from what I can tell. Delivery trucks and a bunch of vehicles on the lot. I've seen 2 or 3 Mav's priced at $40-45k there.

They should do deliveries for Ford. May get some cash, and may speed people flipping Mavericks back to them.

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