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onenickelmiracle
onenickelmiracle
Joined: Jan 26, 2012
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May 2nd, 2021 at 8:06:10 AM permalink
Drich, how did you wind up even thinking about Carvana to flatly sell your car when it was coming off lease? Have you ever tried that before?
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DRich
DRich
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May 2nd, 2021 at 3:06:45 PM permalink
Quote: onenickelmiracle

Drich, how did you wind up even thinking about Carvana to flatly sell your car when it was coming off lease? Have you ever tried that before?



no, never done it before. i always just returned my leased cars. i knew that used cars are in very high demand so i thought i would just check and see what mine was worth. it really was just a lark because i assumed i would be upside down since i did a zero down lease. Online they came back with what I thought was a crazy number. I then ran my car through three other services, Vroom, Carmax, and Kelly, They all came back about $2000 less than Carvana.

Carvana picked up my car about an hour ago and gave me a check. The person spent about 2 minutes looking at it and verifying the odometer and then hauled it away. I was shocked how short the process was.

I am amazed that I got a $4500 check for a zero down lease that was only $197 a month.
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MoneyK1ng
MoneyK1ng
Joined: May 2, 2021
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May 2nd, 2021 at 3:39:43 PM permalink
Thats cool
EvenBob
EvenBob
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May 2nd, 2021 at 5:22:56 PM permalink
Quote: DRich

n

Carvana picked up my car about an hour ago



Carvana is crap, they get most of their vehicles from auto auctions, cars other dealers couldn't sell. They're so happy to get a nice one like yours they overpay for it and charge the next customer they sell it to up the yin-yang. Go and read their reviews sometime, for every satisfied customer there are two that think they got ripped off
"It's not enough to succeed, your friends must fail." Gore Vidal
onenickelmiracle
onenickelmiracle
Joined: Jan 26, 2012
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May 2nd, 2021 at 9:53:41 PM permalink
Quote: DRich

no, never done it before. i always just returned my leased cars. i knew that usedI cars are in very high demand so i thought i would just check and see what mine was worth. it really was just a lark because i assumed i would be upside down since i did a zero down lease. Online they came back with what I thought was a crazy number. I then ran my car through three other services, Vroom, Carmax, and Kelly, They all came back about $2000 less than Carvana.

Carvana picked up my car about an hour ago and gave me a check. The person spent about 2 minutes looking at it and verifying the odometer and then hauled it away. I was shocked how short the process was.

I am amazed that I got a $4500 check for a zero down lease that was only $197 a month.

Thank you. That is crazy, but we crazy is normal these days. Cars are moving up with low inventories right now of course we're finding out. Just did an incognito search "sell your car" and Carvana didn't even come up first page and I would have expected a higher ranking. They're paying so much because they're going straight out the door as soon as they buy them. I hope we get this supply chain working again, but that's shut down dependent etc.
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EvenBob
EvenBob
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May 2nd, 2021 at 11:11:47 PM permalink
Quote: onenickelmiracle

They're paying so much because they're going straight out the door as soon as they buy them.



They are paying so much because they have a buyer for it already. They know exactly who they're going to sell it to and for how much. Because of the pandemic shutting down all the car manufacturers last year we now have a seller's market that we haven't had since the end of World War II. A huge number of customers and a short inventory of cars. The car lots I talk to are going crazy because these people are banging down their doors and they have nothing to sell them. They have inventory it's the crap nobody wants.
"It's not enough to succeed, your friends must fail." Gore Vidal
onenickelmiracle
onenickelmiracle
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May 3rd, 2021 at 2:29:10 AM permalink
Quote: EvenBob

They are paying so much because they have a buyer for it already. They know exactly who they're going to sell it to and for how much. Because of the pandemic shutting down all the car manufacturers last year we now have a seller's market that we haven't had since the end of World War II. A huge number of customers and a short inventory of cars. The car lots I talk to are going crazy because these people are banging down their doors and they have nothing to sell them. They have inventory it's the crap nobody wants.

Right. I was looking at a car, they wanted $13900 for and their offer to buy it for $10000, so they're making $4000 just for the sale plus financing.
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vegas
vegas
Joined: Apr 27, 2012
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Thanks for this post from:
onenickelmiracleHunterhill
May 3rd, 2021 at 6:01:09 AM permalink
There is gradually going to be a new car shortage so expect to pay more. The semiconductor shortage is effecting cars worldwide and is not expected to be back to normal until sometime in 2023. There is a GM plant near where I live that has been closed since early Feb and not going to reopen until June 21 all because they can't get semiconductors. It is the same all over the world.
50-50-90 Rule: Anytime you have a 50-50 chance of getting something right, there is a 90% probability you'll get it wrong
DRich
DRich
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May 3rd, 2021 at 11:01:07 AM permalink
Quote: EvenBob

They are paying so much because they have a buyer for it already. They know exactly who they're going to sell it to and for how much.



I don't believe that as my car has not yet appeared on their website. I expect it will later this week. I have been watching to see what they are asking for it. I am guessing a $2000 to $2500 premium over what they offered me.
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rxwine
rxwine
Joined: Feb 28, 2010
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May 3rd, 2021 at 11:13:24 AM permalink
Quote: vegas

There is gradually going to be a new car shortage so expect to pay more. The semiconductor shortage is effecting cars worldwide and is not expected to be back to normal until sometime in 2023. There is a GM plant near where I live that has been closed since early Feb and not going to reopen until June 21 all because they can't get semiconductors. It is the same all over the world.



Intel is going to repurpose some of their chip manufacturing to cars, but there still will be a lag. Supposedly consumers bought a lot more gadgets during the pandemic.
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