What is your carvana sell offer for your Gt?

[Smunczen]

The prices here in Ga have not gotten as high as other parts of the country. At least for selling to the online sellers. I’m going to wait in see still.

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[shogun32]

most of the people installing this stuff on a Mustang are not daily driving it

I put bits of PPF on mine and I DD. I probably won't do it again. Indeed DD would seem to be the correct use case for PPF but the price is nuts. It's glorified saran wrap or clear 'vinyl' not much different than the stripes. (yeah yeah)

If I do PPF again I'll just buy a roll of 18" wide and have the local vinyl guy put it on.

 

[Crowd Hunter]

I put bits of PPF on mine and I DD. I probably won't do it again. Indeed DD would seem to be the correct use case for PPF but the price is nuts. It's glorified saran wrap or clear 'vinyl' not much different than the stripes. (yeah yeah)

If I do PPF again I'll just buy a roll of 18" wide and have the local vinyl guy put it on.

Yep, PPF is a quandary. If you're daily driving a Mustang, chances are you can't afford PPF but probably need it. If your Mustang is a garage queen, you probably can afford it, but don't need it.

 

[Mr. Met]

I put bits of PPF on mine and I DD. I probably won't do it again. Indeed DD would seem to be the correct use case for PPF but the price is nuts. It's glorified saran wrap or clear 'vinyl' not much different than the stripes. (yeah yeah)

If I do PPF again I'll just buy a roll of 18" wide and have the local vinyl guy put it on.

 

[ICU812]

In all honesty, most of the people installing this stuff on a Mustang are not daily driving it. It's a little silly to pay so much to protect a car that is hardly driven and sits in a garage 95% of the time. I don't currently own a car worthy of PPF, but if I ever do, I will definitely consider it.

It be cheaper to have a body shop spray a few more coats of clear on the car than what the PPF installs cost.

 

[Spartan1]

Paid $36,000 for a new very, very base '19 GT 2 years ago, sold it to Vroom with 8,000 miles for $37,300 in October.

Waiting on my EG '22 401A with a lower payment and nothing else out of pocket.

Very good timing if you had a toy like this you were looking to upgrade.

Oh yeah, Vroom sold it for $36,000.

 

[speedfrk]

I think you mistakenly said earnings instead of revenue. Their revenue doubled but their (earnings) loss quadruped.

They are selling twice as many cars at twice the loss. Reminds me of the old saying “We lose money on every product we sell but make it up with volume.” These companies will all be gone in the next few years.

They finance something like 80% of the cars they sell. Always at higher rates than you could get from a local back or CU. F&I is where they make most of their money- they just have to have cars to sell so they pay for them. Interestingly, they are basically controlling trade in values since anyone can put their VIN in their website and get an offer to take to the dealer.

I think the crazy offers for Mustangs are about over. My local dealer has 12 on the lot. Trucks are where they are still paying crazy money- although dealers seem to have more of those on the lot as well.

 

[2019Velocityblue]

Try autonation if you can. They offered me $4k more than vroom/carvana. They gave me $39k for my base 2019 GT 10 speed with 4500 miles.

 

[Firsttexan]

They are financing the cars they sell at much high rates but only because the banks will not touch people they are loaning money out too. As long as they are loaning money on an appreciating asset this is a great business model. That is why they are forcing up values in this supply limited market. If values decline they are screwed. If values flatline they are ok.

What people need to realize is inflation is uncomfortable. Deflation kills. I don’t expect prices paid to ever decline again. At least not numerically.

By your assumption the folks who finance through Carvana can't afford any other option.

That's nonsense in my opinion.

My rate from Carvana on the 10 yr old shelby was 3.8% . Same on the 2012 Lexus RX350.

My Rate from my bank Wells Fargo on the 2019 Mustang was 3.5%. I bought it from the Ford dealer both were used. The bank would not finance either older car.

I will end up paying all 3 off in about 3 yrs.

I do agree, the numbers will remain as inflation subsides. The numbers never go down.

 

[Firsttexan]

No my assumption is on point. You said it. Caravan is financing things the banks won’t. Pretty clear they are taking risk that banks don’t want.

I disagree. You said, "people". Not "things". Implying folks who use Carvana financing are somehow less maketable to banks. And that IS nonsense.

My rates were super competitive with the banks and dealers also. Regardless of year models.

 

[Firsttexan]

Sorry man you don’t understand what Carvana is or there history. Read a little or Google it for more info. The CEO is also a convicted felon.



The CFPB noted that “at least 45 percent of DriveTime’s auto installment contracts were delinquent at a given time,” which set into motion DriveTime’s ruthless collections apparatus. Collectors were known to harass borrowers at home and work and even harass references given by borrowers at the time they took out the loan.

The CFPB ordered DriveTime to pay an $8 million civil penalty as a result of its action against the company.

By early 2016, DriveTime had spun off its loan servicing division, which it renamed Bridgecrest Acceptance. Bridgecrest Acceptance currently services the loans for Carvana’s customers who choose to finance their vehicles with the company.

Also Carvana directly finances about 80% of the cars it sells though subprime lender Bridgecrest.

Sorry man,

I more than understand.

Who cares! My deals went great! I found the car I wanted for the price I wanted. That's all the next guy will worry about too. The rest I have already said.

I will leave concerns about their business ethics and philosophy to others.

I expect very little from a dealer in regards to ethics. I am sure many have been convicted felons. Afterall it is the most respected profession in America.

 

[2016S550]

Sounds like to me that paying your payment is the key to no issues regardless of who you finance through? Nobody twists your arm to buy a car you cannot afford at a rate you should not agree to. Then again personal accountability is a lost value it seems.

 

[ICU812]

By your assumption the folks who finance through Carvana can't afford any other option.

That's nonsense in my opinion.

My rate from Carvana on the 10 yr old shelby was 3.8% . Same on the 2012 Lexus RX350.

My Rate from my bank Wells Fargo on the 2019 Mustang was 3.5%. I bought it from the Ford dealer both were used. The bank would not finance either older car.

I will end up paying all 3 off in about 3 yrs.

I do agree, the numbers will remain as inflation subsides. The numbers never go down.

Nonsense, depends. One must remember not all buyers research what loan rates they can get and ASSUME what a car dealer finance dept. tells them they qualify for is correct, When the dealer finance dept, "padded " the interest rate.
Carvana along with just about evey dealer pulls this.
When I bought my Stang, Ford Credit offer/rate was 5.9%, the dealerships finance dept, thought showing my a rate of 4.9% for 60 instead of Fords 5.9% for 60 was going to cut it. they knew my Credit rating banks would offer lower rates than that, but if they got me to sign off on a loan at 4.9% they padded the rate. I had already done my homework and knew I could get 2.9%. But many buyers don't do this homework and believe what the finance guy/gal says it the best rate you qualify for.
My guess is places like carvana,vroom,ect also get a bunch of buyers with risky credit that will not even question a loan % rate as long as they hear they are approved.

 

[ICU812]

I disagree. You said, "people". Not "things". Implying folks who use Carvana financing are somehow less maketable to banks. And that IS nonsense.

My rates were super competitive with the banks and dealers also. Regardless of year models.

But would Your local banks write the loans on the vehicles you bought?
Most won't when the loan is higher than the units ACTUAL CASH VALUE.
My bank won't write an auto loan for new vehicle that dealers are adding atm's and the buyers down payment brings the loan dollar amount back down but still over the msrp.
Some dealers are getting 5-10k over msrp on exployers, local banks won't touch writing loans for that type of stupid, but dealers have banks that will. and do.

 

[Firsttexan]

But would Your local banks write the loans on the vehicles you bought?
Most won't when the loan is higher than the units ACTUAL CASH VALUE.
My bank won't write an auto loan for new vehicle that dealers are adding atm's and the buyers down payment brings the loan dollar amount back down but still over the msrp.
Some dealers are getting 5-10k over msrp on exployers, local banks won't touch writing loans for that type of stupid, but dealers have banks that will. and do.

If they are being fools with their money, that's their problem for getting too long of terms, not putting enough down, not paying the loan down sooner than the terms etc..

And your point is?

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