Carvana

"LimitedTimeOnly @ opposite-lock.com" (limitedtimeonly) 10/30/2019 at 12:05 • Filed to: Carvana, Trade-in and Resale Values, Trade In

5

14

!!!error: Indecipherable SUB-paragraph formatting!!! included many silly and a couple of interesting comments. RustyBolts started !!!error: Indecipherable SUB-paragraph formatting!!! with, “Anyone who trades their car in at the dealership is a sucker.” As I am currently working on doing that as is my usual process, I thought I’d read responses to that and maybe reconsider.

I did take the trade to CarMax and was offered $10,000. Dealers were offering me $10,500, which seemed far closer to the CarMax offer than I’d previous encountered with other trade-ins.

I don’t care to sell it myself. Despite pouring a lot of time into this new purchase, selling the old car myself is not an attractive prospect primarily due to available time.

So, !!!error: Indecipherable SUB-paragraph formatting!!! , “Check out carvana/shift/etc too - I’ve heard people have gotten better prices there vs carmax” it reminded me of other options, and I checked out Carvana.

Carvana is prepared to pay me just a few bucks shy of $12,000 for the trade. Given that the tax advantage of trading at the dealer is $315 on the $10,500 value, this means that a sale to Carvana gains me more than $1,100.

Guess what? I’m just waiting on Carvana to do the paperwork now.

davesaddiction @ opposite-lock.com > LimitedTimeOnly @ opposite-lock.com 10/30/2019 at 12:08

0

Nice! What would you guess fair market value is on a private sale?

DucST3-Red-1Liter-Standing-By > LimitedTimeOnly @ opposite-lock.com 10/30/2019 at 12:17

1

I’m getting the same experience with the fiesta. Carmax offer was $3K and carvana was $ 4900. Market value is around $6K-$7K. If I don’t get any bites before too long I will probably end up at carvana as well

CarsofFortLangley - Oppo Forever > LimitedTimeOnly @ opposite-lock.com 10/30/2019 at 12:17

1

I dunno, the tax savings alone make trading in worth it.

I estimate I could trade in the forte for $10K CAD. (after buying it for $11K CAD, new).  Plus 12% tax, that makes it worth it to me.

lone_liberal > LimitedTimeOnly @ opposite-lock.com 10/30/2019 at 12:17

8

It seems that a lot of people forget that time is also worth money. Not having to deal with private sale and all of the headaches and scams that comes with it is worth money to a lot of people too. Everything is a tradeoff and you have to decide what’s best for you.

E90M3 > LimitedTimeOnly @ opposite-lock.com 10/30/2019 at 12:21

3

This is some of the most asinine shit I’ve read. This simplifies a complex transaction into you’re an idiot for trading a car in when it doesn’t take account the hassle of selling a car, the fact most people don’t have two cars so when that one is sold you have to buy another car immediately , the potential credit on sales tax. Nope, if you trade your car in, you’re an idiot.

When I got my 128i, I traded in my Explorer. I only got $1000 for it. I knew I could’ve gotten at least double private sale, but I was moving in two days, and working a weird schedule. Yeah, I want to deal with the headache of just me moving three cars and trying to sell it on my precious few days off? Yeah, fuck that. 

Chariotoflove > LimitedTimeOnly @ opposite-lock.com 10/30/2019 at 12:22

2

I guess I’m a sucker. When I sell my cars, they have stuff wrong with them by that point, so their market is more limited . Like you, I just don’t want to deal with the time and hassle of being a CL seller, etc. I know I’m taking a hit on the value.

I never had considered Carvana as a place to sell.  Once in a while those forums do teach you something useful. Good for you! That’s more than just pizza money.

benjrblant > lone_liberal 10/30/2019 at 12:22

2

Particularly if you live alone and have a single car. Sometimes selling your only car without having a replacement yet could be a huge pain in the butt. There’s a lot to be said for the convenience of trading, if you can afford it.

LimitedTimeOnly @ opposite-lock.com > davesaddiction @ opposite-lock.com 10/30/2019 at 12:41

0

Tough to say on private sale value . I didn’t find any current ads for similarly equipped low-miles vehicles in the area. I think that Edmunds was saying $9,100 for trade-in, so that was bogus. I’d guess it’s $13-14k.

E90M3 > LimitedTimeOnly @ opposite-lock.com 10/30/2019 at 12:51

1

With internet car sales, national prices become more relevant since companies will move cars to areas where they’re more valuable . For example, my 128i got sold in California after I sold it to Beepi in Texas. 

LimitedTimeOnly @ opposite-lock.com > E90M3 10/30/2019 at 13:08

0

That’s an excellent point.

B_dol > LimitedTimeOnly @ opposite-lock.com 10/30/2019 at 13:17

1

Shift (Carvana, others) is a great resource and will net more cash in your pocket with the same low hassle of Carmax and dealers.

We sold our 2015 Mazda3 hatchback to Shift for an extra $1800 over Carmax. On the other hand we sold our 2015 BMW 228i Msport (MT, no sunroof, esotril over tan) in less than 24 hours on the BMWCCA classifieds. Enthusiasts cars are best directed towards knowledgeable consumers already seeking said cars.

Arrivederci > LimitedTimeOnly @ opposite-lock.com 10/30/2019 at 13:46

1

Interesting - when I sold my S3, I got matching offers from dealers, Carvana and Carmax.  I started wondering if they were colluding. 

Ash78, voting early and often > LimitedTimeOnly @ opposite-lock.com 11/01/2019 at 10:46

0

I’m in the camp of “If my car is good enough to sell to another person, it’s probably good enough for me to keep.”

My car has so much wrong, I don’t think I can even ethically donate it, knowing that if some working single mother gets it, she’ll forget to top off the oil or coolant and it will leave her stranded and dead (the car, not her).

So yeah, there’s a good case for dealer trades. Carmax is fine, but for 95% of cars, they’re offering you the low end of wholesale because most of it goes to auction.

Deal Killer - Powered by Focus > Ash78, voting early and often 11/01/2019 at 12:26

1

Yeah, when I’m done with my cars, they are “fully depreciated”, meaning they aren’t worth a whole lot. My last trade in was an ‘03 Mazda Protege’ with rust issues, engine stalling and over 150+ miles on it. The dealer gave me around $1,500 for it, and I took it with a smile.