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What is your carvana sell offer for your Gt?

ICU812

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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?
Banks that are smart don't write loans for that type of silliness.
Point is, if banks you have a working relationship with won't write the loan, that is a red flag. mostly that it's a bad deal.
dealerships like these online ,shop,buy and we bring it to you. pad the % rates to make up for the lenders they use taking on the risk level. That extra % rate over what the customer should have got the carvana's etc get a bonus from the lender for making that happen.
Dealer that pay more for a unit than they sell them for, are making up the difference somewhere. you figure out where.
It isn't that hard. Hint it's in the finance dept.
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ICU812

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That is exactly my point about them paying these crazy prices. They have a vested interest in pushing up car prices to help make their loan company books look better.

An oversimplified example would be if they give a loan at 25% interest, they could assume a 20% yearly repo rate and make 5% on their loans. If the asset was appreciating at 10% yearly they would make an extra 10% on their loans if they need to package and sell them. This is oversimplified(and unrealistic) example but shows the incentive for them to upwardly push trade-in and sale prices.
Ya, but They can want to prop up the silly prices on used and new all they want, The bubble will go pop. the sooner the better.
I personally think , they are betting the farm that enough dopes that were told for the last 20 odd months that they didn't need to fear being evicted or foreclosed on. Will soon be and end up with trashed credit, So when they need that next set of wheels the dealers have them over a barrel and can make bank on the interest rate .
Use prices have to drop, no one is going to buy a used (for example) 2019 F-150 with 50k on it for 450.00 a month or more, when they can get (read lease) a new one for 36 months for 249.99 a month. The used vehicle price rise was from peoples unwillingness to wait , the I want it now, mindset. So while supple was low, demand was higher than it really should have been. Because people get bored with what they have and need a new to them shiny replacement.
A quick search of 2019 to 2021 used vehicles in my local area avail for sale at dealerships comes in at 13 thousand units in a 100 drive. with even more new '21-22's there isn't any limited supply anymore. The prices will drop like lead.
 

shogun32

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Should and will are two different things. Dealers are willing to do invoice on new mustangs. Mopar is doing 3% below on challenger without a fuss. But used mustangs are still sitting at their original msrp or at least higher than their original invoice. It's really quite insane.

My camaro was bought back by vroom for msrp, advertised at over msrp and then sold for over original invoice.

I want to know what banks are underwriting this garbage and making CDO out of them and precipitating the next financial catastrophe
 

Crowd Hunter

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A few years ago, I had a car dealer tell me that if I financed the car through his dealership, he would knock off $2000. I agreed and financed it through him using Ally, then I refinanced the loan two months later.
 

theruleslawyer

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A few years ago, I had a car dealer tell me that if I financed the car through his dealership, he would knock off $2000. I agreed and financed it through him using Ally, then I refinanced the loan two months later.
Same, though if you want to be nice, find out how long you have to keep the loan for the dealer to get their kickback. Usually. Itā€™s just a few months. Though I once had a dealer not put in our loan paperwork for over a month. We got suspicious when we didnā€™t get a bill by the second month.
 

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Carvana must be in a cash hurt state at the moment - because I did an estimate through them and KBB - and right now, Carvana is $8k lower than what KBB is offering...

LMAO...
 

Smunczen

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Offers are changing daily.
 

ORRadtech

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There's one of their vending machines on my way to work. Of late it's only been about 1/4 full. Up till now its been brimming.
On the way in this morning I noticed that the vending machine is down to half a dozen or so cars...
 

rhexis

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Carvana must be in a cash hurt state at the moment - because I did an estimate through them and KBB - and right now, Carvana is $8k lower than what KBB is offering...

LMAO...
yeah there is something up with carvana. on a whim i looked to see how much they would pay for my S4. its a 2019 prestige with 15k. carvana quoted $40,500. i went to vroom and vroom will give me $50,600. that is over 10K difference. i think carvana's days are numbered.
 

94gt

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yeah there is something up with carvana. on a whim i looked to see how much they would pay for my S4. its a 2019 prestige with 15k. carvana quoted $40,500. i went to vroom and vroom will give me $50,600. that is over 10K difference. i think carvana's days are numbered.
I just did the same thing on both of them too; 2021 GT/performance pack/401a (car was $52,000 new in Sept). + Edmunds

Carvana: $38,698
Vroom: $47,904
Edmunds says $45,450 in trade $47,322 private party sale.

Carvana seems to be way off the mark, and I used my VIN to populate the data on 3 sites.
 
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Smunczen

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Vroom is $39700 for my 20 PP2 301a with leather Recaro seats with 2k miles
 

Smunczen

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I know right. I buy one for that price.
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