VROOM CAR VALUATION

[Sirk]

I have approximately $28,500 into my Maverick, MSRP, tax, tag, dealer fees, etc.... Vroom offered me $30,000. Although it sounds like a good deal, $1500 profit isn't worth all the waiting and anticipation about getting my Maverick delivered.

Wow! It seems these companies are all over the board on valuations/offers. Although I have no intent to sell it, I ran my AWD XL through Vroom last week. It had 200 miles on it at the time. They only offered me $25,000, which is $435 below MSRP. I'm in Florida too. Crazy times.

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[pnorwood54]

2020 kia niro carmax 8/21 $22,000, 10/21 $23,000, today $24,600. Maverick eta 12/20 to 12/26.
Can't wait to see what my dealer offers.

 

[TerryWalker]

This is a crazy time. I was always told you lose money the minute you drive off the lot not now. Vroom offered me more than I paid with tax . If they would pay this what would they try and sell it for. It's not just Mavericks its every car. The more expensive the more the markup.

That is some mark-up if your final purchase price is in the low thirties.

Regarding the varied posts I have viewed on this thread it brings to mind a thought provoking point. Are we seeing the beginning of a demise to the used car lot??

Alto Blue XLT 2.0 with a buuuunch of goodies.....

 

[MDRN]

I wonder if I should get an offer for my trade in with them, instead of bringing it to the dealership.

I would highly suggest checking this when you want to unload your vehicle. I had a 2013 Escape titanium AWD with 115,000 miles on it. By "researching" through Edmunds, it generated an offer from CarMax which was higher than going through CarMax directly! In January 2020 I sold it to them for over $8,000.

https://www.edmunds.com/appraisal/

if they like it, it pops up with this:

Then you click the "see my car's value" and Voila!

That's actually my current car. I didn't pay that much for it 3 months ago. You just print that out, take it to car max with the car. They do a quick inspection (basically spin around the parking lot, hook up an OBD-II and walk around) and they offer you a check if you have the title, or they pay off your loan. In New England, the Escape was paid out $1500 more than Vroom or any other offer.

 

[MDRN]

2020 kia niro carmax 8/21 $22,000, 10/21 $23,000, today $24,600. Maverick eta 12/20 to 12/26.
Can't wait to see what my dealer offers.

would check this since mine is more miles (likely) and 3 yours older.

 

[Bob The Builder]

Good for you,

I am sort of in dilemma,
I own a 2018 ford edge(4 cyl. Every time I drive I feel 4cyl is underpowered)
So, I ordered maverick in Sep(while should arrive dealership next week).
Then Mach E made more sense and ordered it in Oct -(not schedule yet and no update when. But Mach E price went up by $2000 after I ordered it - so probably will stick with it)

My wild thinking is,
that I trade my ford edge and get the maverick, once my Mach E arrives (2-5 months) I can trade the maverick for it.
Only question is, will the used car prices be the same 6 months from now

I flunked crystal ball reading in school, LOL, but my gut tells me our beloved Mavs are going to be as scarce as hen's teeth well into 2022 maybe longer. The law of supply and demand should be in your favor. Actually, hate to sound negative, but I will, I think these supply chain issues, hyperinflation is going to be with us for some time to come. Well within the time frame you have listed for yourself.

 

[Skeeziks]

As of today, based the estimated equity value of my 2018 Escape from Ford, and a Carmax offer of $22400 (1200 more than 2 months ago) my spreadsheet calculation shows that I come out about $900 ahead by selling to Carmax rather than trading it in. This takes into account the tax difference. So the break even point would be a trade-in offer of $1700 less than Carmax which represents the difference in sales tax. Not sure how realistic this is but we'll see if it holds until my Maverick arrives (late Feb-Mar)

 

[inferno]

Wow! It seems these companies are all over the board on valuations/offers. Although I have no intent to sell it, I ran my AWD XL through Vroom last week. It had 200 miles on it at the time. They only offered me $25,000, which is $435 below MSRP. I'm in Florida too. Crazy times.

That's crazy, here is my offer

 

[uh50]

This is a crazy time. I was always told you lose money the minute you drive off the lot not now. Vroom offered me more than I paid with tax . If they would pay this what would they try and sell it for. It's not just Mavericks its every car. The more expensive the more the markup.

I know what you mean. I had an offer on our 2019 Dodge Grand Caravan SE that was more than we paid 2 1/2 years ago. This is on a minivan! It was a great time to trade it in on a new Maverick.

 

[MLowe05]

Just sold our 2021 Forte GT to Vroom.

Purchased 2/19/2021 for $23,452
Sold 12/12/2021 with 7,500 miles for $26,000

Note - $25,150 was the original MSRP on the car and dealers in my area have new ones listed for $24,500.

 

[jalbano2]

That is some mark-up if your final purchase price is in the low thirties.

Regarding the varied posts I have viewed on this thread it brings to mind a thought provoking point. Are we seeing the beginning of a demise to the used car lot??

Alto Blue XLT 2.0 with a buuuunch of goodies.....

I think you are 100% correct. This is part of the strategy of Carmax,Carvana and Vroom . It an old business model. They are driven by the deep pockets of their investors. They will over pay and under sell at a loss and hope to drive the smaller guy out of business examples Home depot local hardware store, Walgrees and CVS mon and pop drug store, Walmart the entire local eco-system. It is a business model that works.

 

[Lone Star Proud]

God willing and i ever get one, I'm not about to turn around and sale it after waiting 6 to 8 months.

 

[jalbano2]

God willing and i ever get one, I'm not about to turn around and sale it after waiting 6 to 8 months.

The post was not about actually selling it. The original post was to show how crazy things are right now. I waited 6 months too. It's safe , happy and paid off in my diveway where it will stay for a long time.

 

[Darnon]

I think you are 100% correct. This is part of the strategy of Carmax,Carvana and Vroom . It an old business model. They are driven by the deep pockets of their investors. They will over pay and under sell at a loss and hope to drive the smaller guy out of business examples Home depot local hardware store, Walgrees and CVS mon and pop drug store, Walmart the entire local eco-system. It is a business model that works.

The other factor is that some of them have their own financing division. So even if they mark it up to loan-to-value prices that ordinary banks wouldn't touch they can still finance it and are collecting the interest.

 

[jalbano2]

The other factor is that some of them have their own financing division. So even if they mark it up to loan-to-value prices that ordinary banks wouldn't touch they can still finance it and are collecting the interest.

Great point!!

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