No never. None of the big banks that take bail out money had auto loans…
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I know it’ll get you $500 more cause that’s what I’ll offer you lol
Well everyone, end of the line.
My Nissan just sold on Carvana for 
13,990.
Confirmed it via VIN, they replaced my wheels and redid the car, omitted the scratches on the rear trunk, and yes it’s definitely mine, the radio presets are the same, as is the VIN.
https://www.carvana.com/vehicle/1515566
Data point for the ones that follow:
2015 Nissan Altima 2.5 S, 44,871 miles. Tech Package.
Purchased for 11,097, resold at 13,990, original MSRP of 24,055, purchased 02/28/2015.
If anyone wants to see my service records, my carfax.
Those are the only 3 I am even considering, and still a little nervous about it because in the long run if they flake, the payment is my responsibility.
How the F are these companies making any money? They are all offering me an insane amount for my basic car, I don’t get it.
I know they probably get a piece of the financing, but still, I don’t get it?
I got an offer from Carvana for the wife’s 2017 Q60 with 38K miles, lease due in Jan and I am OK in miles, the offer was $16 less than the lease payoff at $23,338. Bummer I just put brand new run-flats on it, damn they are expensive. So I still went ahead and sent in the paperwork. 5 days later without a response, I contacted them and after 3 hours waiting for a response they came up with a bullshit story that Nissan financial would not “allow them to buy the car”. I kid you not. They did not even had the decency of an email or something saying the deal is off. Carvana pretty much sucks. I got an offer from Vroom for a couple hundred less, but since I am not finding a good deal for a replacement lease right now, I am probably just gonna keep it. If someone is interested, let me know, I am in San Diego.
That’s exactly what this thread is for… can you add more details of the car? Photos? History?
Considering the have credit card style APR on their card leases 20%+ish
Think about it… 6-7 year subprime loan. Insane amount of profit
Let’s say they buy your basic 10k car for 12k…sell for 13k at 20% APR for 72 months with taxes tags titles fees paid upfront…
Basic excel calc determines a payment of $311.39…which translates to a total amount paid of $22,419.85
which means they are making $9419.85 over the course of the financing.
Those loans are then most likely bundled and sold to other financial institutions.
Hmm, just got a call from the dealer and they are playing ball. They wanted $2K to get off my lease and now magically they met my lease asking and no additional $ on the payoff. End of the month is a great time to get deals done. I am heading there to see if it is true or not, I don’t count my chickens until the car is sitting in my driveway…
Q60 2.0t Premium, Nav pkg, Sunroof 38K miles, no accidents and new runflats. Original MSRP $46K. Car is (was?) immaculate. Lease was $410 + tax/mo with 15K miles 39 months with $1K DAS. I think I got a great deal on this one.
Check out Autonation for a trade-in quote as well. I recently sold my leased 2018 Q50 3.0t. Luxe and broke even.
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Aaaaand, purchase pending. That was quick!
Interestingly they did not disclose a ton of damage on the car, and replaced all four plastic hubcaps. There were clear coat scratches on the trunk, and it needs an oil change.
On the brightside whoever gets it, is going to have brand new tires and brakes because somebody did not listen to my advice.
Shift recently put out an investor presentation where they describe the economics. Here is the money slide:
Some takeaways:
-
On average they flip cars with a 15% markup
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On top of the markup, financing represents just over half of their gross profit on each car.
-
After customer acquisition costs (i.e. online marketing) they basically make nothing on each car
But they make it up in volume! 
What % is the high profit on used car? The car I sold carvana for 15.900 listed for 17.900 sold in 3 days.
%12.6 profit + potential extended warranty sales.
Don’t forget subprime lending; but account for reconditioning, transportation, labor (detailing, admin), a chunk towards operating costs like auction fees and storage, then upkeep of servers and any physical costs like garages and state fees.
If its any help at all - I managed to find a tool that seems to compare offers Carvana, Vroom, and Shift.
The offers I got back weren’t the exact same as the sites, but when checking it helped me find the highest price for my 2008 Rav4. Ended up getting on the Bolt Lease deals I learned about from here!
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I sold my telluride to givemethevin.com in NJ
I paid my taxes and fees upfront for a 36 months lease but sold the car after 5 months?
Can I get a refund for the 31 months worth of taxes?