Carvana.....selling car to them

[Okie74133]

All of these outfits are going to low ball you. The idea that they would give you a fair market offer doesn't even make business sense. It's not profitable to break even. They prey on people who don't want the hassle of selling a car. You can also avoid the hassle by trading it in and you're likely to get more than it's worth.

[illinifish]

I looked into a couple of the on line car services when I sold our sons car. I actually got a better deal from a local used car lot. It was hassle free. I recommended them to a family member who sold a car to them and they gave me a $100 referral check. You may want to look into a local used lot.

[MattVT18]

I sold Carvana my truck earlier this year. They offered me more than I paid for it 3 years ago. Took almost 10 minutes to do the paperwork and had a direct deposit in my account in about an hour. Was extremely satisfied with the transaction.

[Mark Perry]

All of these outfits are going to low ball you. The idea that they would give you a fair market offer doesn't even make business sense. It's not profitable to break even. They prey on people who don't want the hassle of selling a car. You can also avoid the hassle by trading it in and you're likely to get more than it's worth.

Do they even reach out to people with vehicles for sale? As far as I know someone has to contact them first. Is that really "preying" on someone?

[fishin couillon]

You can also avoid the hassle by trading it in and you're likely to get more than it's worth.

I'm not buying another vehicle, just needing to get rid of one....

[Keoweefishing]

I have found CarMax to be very fair and often higher than I anticipated. You should be able to get a quote on line from them. Very easy process and you walk out with a check.

[ManxFishing]

They have to be able to buy it at a low enough price to make money off of it. Its how they pay their bills. So that is money you may be able to get out of it selling it yourself. It is common that customers will pay more for a vehicle from a dealer than from a customer direct. So really need to do your homework on value. rest assured, you're going to essentially be selling a car for trade in value to a dealer.

He asked about Carvana
They have in the past paid very well
There bussiness model was not making the money on the car. It was the finance

[jhanson1114]

I use KBB Instant Cash Offer. It is quick and easy, one dealer paid me $4K more than what was offered for trade in from another dealer.

[n2ratfishin]

Do they even reach out to people with vehicles for sale? As far as I know someone has to contact them first. Is that really "preying" on someone?

They used too. My FIL sold my MIL's car to a local dealership a year or so ago who responded to his FB Marketplace ad. At first he thought it was a scam. It was legit and the dealership cut him a check the day he dropped off the car. The local Toyota dealership liked to wear me out trying to buy the truck I traded three months ago. Of course they offered less this year as used car values are falling but they indeed called and mailed me weekly. I did not have the truck for sale anywhere.

I agree they were not "preying" on us as neither were forced to sell anything.

[Jeff La]

All of these outfits are going to low ball you. The idea that they would give you a fair market offer doesn't even make business sense. It's not profitable to break even. They prey on people who don't want the hassle of selling a car. You can also avoid the hassle by trading it in and you're likely to get more than it's worth.

I sold one to Carmax, had already had an offer to trade. I came out better selling to them than trading even figuring in the tax savings.

[Gsmith223]

Never trade a vehicle in to the dealer, they might make it seem like a good deal on paper but 100% of the time it is not. I have had good luck on market place but I will use carmax when I sell my next one.

[rivertrail]

In the process of selling to Carvana at this moment. They offered $3,000 above anybody in town or Carmax or KBB or Edmunds. The local dealerships were offering much less but they say they will beat any online source so I called them on it and they have never responded.

Anyway, its been a really easy process so far. Just have to schedule the day for them to pick it up.

[Twanger]

Carvana is a big reason why used car prices are still messed up. They bought a lot of the auto auction places where dealers buy some of their stock.Which seems like a conflict of interest, but evidently it’s not. So when they were paying astronomical prices for cars during Covid, they would bring them to the auction and drive the prices up.They overloaded the market with cars that they paid too much for, and in turn other dealers were paying to much for. That made dealers have to rely more on trade-ins for better priced cars. In turn people weren’t trading in their cars because,they were selling to Carvana because of getting paid more for their car. They are kinda in bad financial shape also, from what I’ve been told.

[lakebouef5]

My BIL passed, and had a 2019 Nissan truck. His wife wanted to sell it, and the book value was 34,000. Caravans offered her $34,000 and picked it up ..hassle free

[FrancoCialone]

I tried Carmax once. Their price was $100 higher than a dealer who offered me as a trade in on a new vehicle. Trade in value on the vehicle was $38k so to be $100 apart was at least honest for “trade value”. I did end up using the dealer, it was just easier, one deal and done.

I guess the $38K off the taxable amount of the transaction/sale helped too !

[btlsranger]

I guess the $38K off the taxable amount of the transaction/sale helped too !

This! Some may not realize it when you are trading in.

[OconeeMike]

My understanding is companies like this are looking for newer used vehicles and are not the best option for older ones.

[ECobb91]

All of these outfits are going to low ball you. The idea that they would give you a fair market offer doesn't even make business sense. It's not profitable to break even. They prey on people who don't want the hassle of selling a car. You can also avoid the hassle by trading it in and you're likely to get more than it's worth.

I have never once heard of a dealer giving anyone a trade in value above the actual market value of the vehicle. That doesn’t make business sense. . My Durango is worth 8k on KBB, if a dealer was to give me 10k for trade Id be running to the dealership. Im honestly expecting 7k as a trade in.

also, these Carmax and Carvana companies are not “preying” on people. It is 100% voluntary and you don’t have to agree to sell them your car. If you don’t like the price, simply don’t sell it to them. A lot less pressure and more honest than any used car salesman I ever talked with.

[LateralLine]

My BIL passed, and had a 2019 Nissan truck. His wife wanted to sell it, and the book value was 34,000. Caravans offered her $34,000 and picked it up ..hassle free

Sorry about your BIL but

They are in business to make money!

[Dixie-Raven]

All of these outfits are going to low ball you. The idea that they would give you a fair market offer doesn't even make business sense. It's not profitable to break even. They prey on people who don't want the hassle of selling a car. You can also avoid the hassle by trading it in and you're likely to get more than it's worth.

But that would be a wash as you will more than likely pay more for the new vehicle that you are buying.