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Carvana Trade In Great Offer

aptiger
Valued Contributor

Re: Carvana Trade In Great Offer


@FMC wrote:

I did an online appraisal with Carvana

for my 2018 Toyota Corolla LE, 44K miles,they offered me $14,278!! 2 weeks ago the offer was $11,800. Crazy offer, payoff is $15,200. Going to sell to them instead of trading to dealer,  I will pay them the difference. What's the catch? I called them to confirm and they said it is accurate. 

 


They also offered me $3300 more then Carmax. Wondering also if theres any catch.


Filed chapter 7 in May 2017.

Message 11 of 31
sccredit
Valued Contributor

Re: Carvana Trade In Great Offer


@aptiger wrote:

@FMC wrote:

I did an online appraisal with Carvana

for my 2018 Toyota Corolla LE, 44K miles,they offered me $14,278!! 2 weeks ago the offer was $11,800. Crazy offer, payoff is $15,200. Going to sell to them instead of trading to dealer,  I will pay them the difference. What's the catch? I called them to confirm and they said it is accurate. 

 


They also offered me $3300 more then Carmax. Wondering also if theres any catch.


I can only speak to my experience, there was no catch. The lady that came out spent a couple minutes looking at the car, did not test drive it (only started it). About 10 minutes of paperwork and a tow truck picked it up about an hour later.

Ch 7 Discharge 3/12/2018
Cap One VentureOne $3,500, CapOne Savor $5,300, Kohls $3,000, BBVA $2,500
Infiniti Financial Lease
Goal: New Mortgage 3/2022
Message 12 of 31
ACN323
Regular Contributor

Re: Carvana Trade In Great Offer

@FMC Same thing happened to us 2-3 weeks ago! My DHs appraisal came back $2500 higher when he tried again the following week or so. We immediately hopped on it and sold our 18' Nissan Frontier with like 40,000 miles on it. It was so painless and easy! The funds were in our account a day later! I had read on here about someone else using Carvana and having a good experience, so I thought why not give it a try!?

Started at 490 in Dec.18’'
EX8 691 EQ 691 TU 683

Discover IT $1k
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Amex Rose Gold NPSL
Message 13 of 31
4sallypat
Frequent Contributor

Re: Carvana Trade In Great Offer

Yah, go to another dealer.


When they only want to know your score, that means they are looking to find ways to make the most profit at your expense.

 

Since you have Cap 1 Auto Nav rates, just use that to negotiate the deal.

 

Used cars are amazingly inflated and the dealers are difficult to budge in price negotiations.

 

I was negotiating all day with a used Honda and all they would discount is $500 even after we bought 3 new Hondas from them in the past and they gave much bigger discounts on new !

Message 14 of 31
Loquat
Moderator

Re: Carvana Trade In Great Offer

The reason that used car prices are through the roof is because if simply supply and demand. Manufacturers aren't producing fast enough to recover from the shutdowns that many had to due because of Covid.

And if anyone follows the industry then you'll also know that right before Covid, UAW was on strike for like the last few months of 2019 and then Covid went full force around February/March.

The manufacturers were already hurting and Covid set production back even further. It's because of that perfect storm that is causing the shortage at the dealers now on new cars and lending for increase prices on used.

I just recently benefited from the crazy market. My Charger was totaled in an accident and the insurance paid out almost 8 grand over traditional market value for similar vehicle, equipment, and miles.

Manufacturers are starting to get back into their groove and supplies are starting to increase. As this continues to happen the market will right-size itself and you'll see those numbers start to come down in a major way.

If you're planning to sell or trade then the time is now...I'm guessing by summer you'll start to see things get back to normal.

Message 15 of 31
dunn2500
Frequent Contributor

Re: Carvana Trade In Great Offer

just did this less than a month ago......bought a new 2020 LT 2500 brand new last april @ 100% financed....did normal payments for hair under a year and carvana offered me 43k, week or so later 44.6k, another week 45.8k and thats what i sold it to them for....process was easy as can be and i walked away with 3.4k check after loan was paid.....that never happens, never.....i couldnt buy a used truck though as they were more expensive than new so got another new one

 

paid 47.3k otd on that 2500 and msrp was 49k and change......they are selling it for 51k used and will probably get it, same goes for rest of truck market....better off buying new than used right now....

Message 16 of 31
FMC
Frequent Contributor

Re: Carvana Trade In Great Offer

Just purchased a 2020 Nissan Rogue Sport S model. MSRP is 24,985 Paid 21.5k OTD. Basically 19k purchase price, 1k dealer fee, tax 7%, tag. 

Not sure if it's a good deal or not but done nonetheless. 

Dealer original offer was 26k OTD. 

Message 17 of 31
Gmood1
Community Leader
Super Contributor

Re: Carvana Trade In Great Offer

I did some comparisons between Carvana and Vroom buying one of my vehicles. Vroom was over thousand dollars higher on the offer. 

Message 18 of 31
FMC
Frequent Contributor

Re: Carvana Trade In Great Offer

Vroom was 2200 less than Carvana on my car

Message 19 of 31
incognitony
Regular Contributor

Re: Carvana Trade In Great Offer

Sounds like a good deal.

Message 20 of 31
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