got this email from carvana after accepting the offer
Thank you for taking the time to submit your vehicle for a value with Carvana. At this time, we are not able to move forward with purchasing your vehicle as (US Bank / Nissan Motor Acceptance Corp / Ford / Ally Financial)'s policy has changed regarding leases and they no longer allow third parties (like Carvana) to purchase their leased vehicles. We do apologize for any inconveniences at this time and hope that you’ll consider Carvana in the future for any vehicle purchases and/or sales.
Thanks for sharing everyone - just got an offer from Carvana on a '16 Accord Touring for around $16.3K and I still owe about $12K. Looking for an SUV this time around so am not sure if I wanna keep it until year end and look around or jump on the deal.
Just sold my moms 2014 Santa Fe Sport to Carvana. She had purchased the car 24 months prior for $16,000. Carmax offered $11,000, as did a local Hyundai dealer. Carvana offered $12,100 and after accepting, their driver arrived via Uber, with a check and took the car.
I have a leased car with excess miles on it. I figured out I will come out ahead if I sell to VROOM even if the price they are offering is lower than my payoff because of the excess mile charge. So how does this process work? Do I write a check to VROOM when they pick up the car?
Anyone know what determines Carvana’s “local market”’price fluctuations? Mine went from like 1700 to 900 in the matter of a day. Would using a different zip code help?
Does anyone know how the resale of Carvana work? I recently sold my Elantra for around 4,300 with almost 100k miles and they relisted it for 10K… I just don’t see how the car could be worth that much. Is it a matter of them putting a high number that can be negotiated down dramatically?
To add to the data points, I sold my 2009 Mercedes CLK350 Sport w/ 80K miles to Carvana today. I bought it from auction a few months back to fix up, Carvana offered $7665, KBB instant offer was $5650 and Vroom offered $2400. Carvana buyer came in an Uber walked around the car, took a bunch of pictures, handed me my check and drove away with it using TX dealer plates. I had the OEM beater wheels on it (no TPMS), the fogs lights had no bulbs and half the speakers didnt work… but they didnt care. Easiest sale every.
Does anyone know if get dinged for the vehicle having an accident reported. You can choose no on the website but do they check and then lower the amount?
They make alot of money off the bottom of the market. They have very few options under the 15K price point and all of these options are marked up considerably against the wholesale price. They sell them because they finance anyone, they offer a warranty and they do a decent job reconditioning them. In the end, it’s very easy for somebody to just click a few buttons and spend $10K with 0 down at 7% APR. This kind of person would probably walk into the dealer and negotiate a terrible deal and buy alot of extras…
