Received an offer from Vroom that I could not refuse

[Zelek]

How much money do you have so far?

I'm waiting on them to deposit it. It's a process and they lay it out for you from the start.

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[fpGT350]

Yes, the process is not tradional and requires trust. Before they picked up the car, I had signed legal sales contract/documents that I found to be satisfactory. It's not a procedure I would ever follow with a private party. VROOM is a publicly-traded company with a market cap of $5.9 billion. FWIW, JP Morgan has an overweight rating on the stock. In other words, it's a real company.

 

[Zelek]

Yes, the process is not tradional and requires trust. Before they picked up the car, I had signed legal sales contract/documents that I found to be satisfactory. It's not a procedure I would ever follow with a private party. VROOM is a publicly-traded company with a market cap of $5.9 billion. FWIW, JP Morgan has an overweight rating on the stock. In other words, it's a real company.

Not to mention we have all the documentation of everything including where the car is going from when it was picked up.

 

[526 HRSE]

Yes, the process is not tradional and requires trust. Before they picked up the car, I had signed legal sales contract/documents that I found to be satisfactory. It's not a procedure I would ever follow with a private party. VROOM is a publicly-traded company with a market cap of $5.9 billion. FWIW, JP Morgan has an overweight rating on the stock. In other words, it's a real company.

A real company with a seriously bad market plan. The idea is to buy low and sell high. Seems like they are missing the point.

 

[Zelek]

A real company with a seriously bad market plan. The idea is to buy low and sell high. Seems like they are missing the point.

Classic case of "not my problem". May be banking on this chip shortage and a huge market for used cars.

 

[shogun32]

'profits' have been dismissed as a consideration going on 10+ years for companies that are an "app" and "disruptive". Haven't you been paying attention? Vroom is burning investor/bank cash as fast as Nebuchadnezzar's fiery furnace. But until the banks call in the loans and the investors abandon the company, you'll still get paid since that timeframe is about 3-5 days at most.

Yeah I see just MASSIVE losses going forward where they take a mind-boggling bath on their dearly acquired inventory.

 

[wingnutt]

Ok, just ran mine on vroom...54k

dammit man!

 

[torque124]

Just for fun, my 2016 R with 7400 miles got 54k at givemethevin, but the vroom came back with odometer issues ???

Some idiot at registration punched 20089 instead of 2089 when I titled the car back to MA... damn.
next odo check is at 2950...
This will give me grief, no?

 

[Deleted member 35775]

A real company with a seriously bad market plan. The idea is to buy low and sell high. Seems like they are missing the point.

yeah, i for one appreciate "they [Vroom] missed the point" on my sale. i netted $5K and then purchased my GT350 the day after they picked up my car.

 

[wingnutt]

Just for fun, my 2016 R with 7400 miles got 54k at givemethevin, but the vroom came back with odometer issues ???

Some idiot at registration punched 20089 instead of 2089 when I titled the car back to MA... damn.
next odo check is at 2950...
This will give me grief, no?

had a similar issue out here in kalifornia a couple years back...had to bring dealer service records to DMV and they fixed it for me

 

[torque124]

had a similar issue out here in kalifornia a couple years back...had to bring dealer service records to DMV and they fixed it for me

Funny thing is, it shows only on Autocheck, Carfax shows ok... not sure why??

 

[Jeffsmith]

The process was not flawless but the price was right. They picked up my 2018 GT 350 today. Now I await payment. Show room condition with 7000 miles. Sales price $55,075.

'profits' have been dismissed as a consideration going on 10+ years for companies that are an "app" and "disruptive". Haven't you been paying attention? Vroom is burning investor/bank cash as fast as Nebuchadnezzar's fiery furnace. But until the banks call in the loans and the investors abandon the company, you'll still get paid since that timeframe is about 3-5 days at most.

Yeah I see just MASSIVE losses going forward where they take a mind-boggling bath on their dearly acquired inventory.

agree. I think we’re back to the future of what I remember of the late 90’s and early 00’s but this isn’t the thread to expand on that.

 

[wingnutt]

agree. I think we’re back to the future of what I remember of the late 90’s and early 00’s but this isn’t the thread to expand on that.

i dunno, it kinda is as it relates to the prices vroom is offering...

...it looks to me like a classic case of “take it in the shorts to gain market share”

 

[key01]

Has anyone selling to Carvana or Vroom kept tabs on their car to see if it actually sold for more than they got paid?

 

[shogun32]

Has anyone selling to Carvana or Vroom kept tabs on their car to see if it actually sold for more than they got paid?

My Gotta-have-it Green EB has been listed for 9 months at 3000 over what they paid me. Still hasn't sold. I'm tempted to buy it back at a healthy discount so they get burned twice.

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