Think Twice Before Buying a Car on Carvana

[Theruleslawyer]

Originally Posted by Z K

It's a pain to go through financing and get a loan for a car and then total disappointment when the car arrives.

If you truly don't care, then it is ok. But I want to see the car - every chip, nick and scratch on it before I consider purchasing a car. There's only so much you can tell from some pictures.

New cars bought sight unseen is ok... but no two used cars are the same. You can't judge condition based on mileage and price.

My M4 came in from several states away to CarMax. I could have walked away from it without any of the financing hurdles. They also have a 30 day return and warranty and extremely cheap extended warranties which is way better than you get from a typical dealer. By bringing an out of market car in it was priced several grand lower than most local inventory and I got the exact color I wanted.

[M-technik-3]

https://www.yahoo.com/autos/carvanas...002900058.html

[P1]

Has anyone noticed how the used car market is getting softer?

[F30lolz]

Originally Posted by P1

Has anyone noticed how the used car market is getting softer?

I just bought a 151k mile f30 335 for a lousy $10k about 2 months ago. Thought I got a decent deal as I’m seeing early f30 335’s go for around low to mid teens.

[P1]

Originally Posted by F30lolz

I just bought a 151k mile f30 335 for a lousy $10k about 2 months ago. Thought I got a decent deal as I’m seeing early f30 335’s go for around low to mid teens.

For giggles, I started plugging my cars into Carvana/Vroom/etc. to see how much they'd still fetch. It's quite a bit lower than it was a few months ago.

[CarsAndGuitars]

Originally Posted by P1

Has anyone noticed how the used car market is getting softer?

I've been pricing my car since April on Carvana, carmax and webuyanycar. It had held steady until this week and very suddenly dropped $2000 across the board.

[vreihen16]

Originally Posted by P1

Has anyone noticed how the used car market is getting softer?

Yeah, and I was a few weeks late with listing the Mighty Dodge for sale. It was priced below KBB two weeks ago, and not even a call to kick the tires or attempt to lowball.

On the bright side, the Mercedes Sprinter that I want to replace it with also hasn't sold in a month.....

[P1]

Originally Posted by vreihen16

Yeah, and I was a few weeks late with listing the Mighty Dodge for sale. It was priced below KBB two weeks ago, and not even a call to kick the tires or attempt to lowball.

On the bright side, the Mercedes Sprinter that I want to replace it with also hasn't sold in a month.....

True. What you're trading in is worth less, but the used one you're buying will have or will be dropping in value also.

[Alfisti]

Not seeing it here at all, decent used cars, just plain, boring, bland used cars with 100K on them, still $20K.... which is proper nuts.

[OkieSnuffBox]

Originally Posted by P1

Has anyone noticed how the used car market is getting softer?

Everything is softening up because of interest rates.

[vreihen16]

Originally Posted by P1

True. What you're trading in is worth less, but the used one you're buying will have or will be dropping in value also.

Good in that way, but not for someone who was looking to sell high now and buy around the holidays after the bubble pops.....

[BMW F22]

Does Carvana and similar car selling/buying platforms require working cars? Or so they also buy cars that need repairs?

[allinon72]

Originally Posted by BMW F22

Does Carvana and similar car selling/buying platforms require working cars? Or so they also buy cars that need repairs?

That's just it...there was a time period where they didn't even bother to check the car (inspect it, drive it, etc.), they just trusted whatever info the seller put on their online submission form. Then they would take the car back to their glorified chop shops to "recondition" the car if they discovered the issue after the fact and then sell it on to the next person. Unfortunately a lot of sellers scabbed cars together just enough to get it to the next unsuspecting buyer, where that person would be left holding the bag after the warranty period expired. It's a big shell game that is very closely actuaried out.

Buying a used car can be risky enough, but if you're buying a car from one of these places you are really rolling the dice.