Tl,dr: Company business model is terrible. Double exec’s salaries.
The last quarter reported by Carvana to the public was in Aug/19 (https://investors.carvana.com/news-releases/2019/08-07-2019-210523620)
Retail Units Sold of 44,000 an increase of 95% YoY
Revenue of $986.2 Million, an increase of 108% YoY
Total Gross Profit (incl. gift) of $137.8 Million, an increase of 181% YoY
Vehicles Purchased Directly from Customers up 188% YoY
This analysis seems to have very old data. Revenue is at $986M and the company posted a $137M profit in Q3. Those who are evaluating Carvana as a traditional car company don’t get the business model. If you evaluate them as a tech company, similar to Tesla, the numbers are strong.
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I was told the same thing on the phone but then I received an email that I can now schedule a pickup or drop off date/time. My lease maturity is only in 12 days. I am thinking, should I still do it? What if Carvana doesn’t pay Honda Financial services on time?
Need some advise as I have a drop off appointment on this Saturday. What if Carvana don’t send the check to Honda on time?
Call Honda and let them know.
I’m leasing a '17 Hyundai Sonata with a lease maturity date of 1/3/20 (tomorrow). I was originally planning to turn it in at lease end, but contacted Carvana on 12/27/19 to start the sell process to them when I found out they would pay $700 higher than the dealer payoff amount. During that call with Carvana, they contacted Hyundai Motor Finance for a dealer payoff quote to be sent via fax. I called Carvana today, and they said they did not receive the fax yet. When I mentioned my lease maturity date is tomorrow, they said Carvana only buys leased vehicles with a maturity date that is more than 60 days in the future.
Does anyone have any experience as to whether this is true? The Carvana rep suggested I ask HMF if I can extend my lease by 3 months to meet the 60+ day requirement. Any thoughts as to whether this is advisable or even possible?
Must be new. I sold them a 2016 Sonata within 60 days of maturity.
3/8/19 - original maturity date
9/8/19 - new maturity date after 6 month extension
7/28/19 - Carvana appraisal request submitted
8/2/19 - I accepted their offer
8/6/19 - I dropped it off at Carvana and left with a difference check
8/8/19 - Carvana mailed Hyundai the payoff
Carvana told me the same thing back in November. Went with Vroom since they mention no such policy.
Selling 2014 Audi A6 42k miles, very good condition. Got the following offers:
Shift - 13,300
Carmax - 14,000
Vroom - 14,000
Carvana - 15,449
Offer from Carvana on 12/29, accepted and scheduled for pickup tomorrow.
Sold Prius <60d of 36m lease maturity to Carvana a few months ago, no issues
Does carvana care if you have front window tint?
Do you need to disclose it?
Anyone with recent experience with Carvana and NMAC?
Sold my 2017 Honda Accord Sport 6MT to Carvana a couple days ago in Philly on my way to pick up my new Tacoma I leased from @Jrouleau426
KBB had my trade in value at about $12,000
Local dealer 1: $11,800
Local dealer 2: $12,600
Vroom: $13,800
Carvana: $14,900
So it was a no-brainer… Carvana makes it crazy simple to sell your car. I was in and out in 30 mins with a big ole check in my pocket. I sure will miss that car though. If someone wants a well taken care of, manual transmission commuter car that lasts forever, pick it up in Philly.
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How many miles did you have on it?
Just reinforces the benefit of getting prices from multiple companies. Two weeks ago I sold my 2018 Accord, 2 liter turbo, 6spd manual, 8k miles, to Vroom for 23.5k…Carvana offered 20.3k…
They have it listed now for 28.3k…i bought it new for 27.5k…!
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43.5K miles
Very true. I have no loyalty to anyone… just whoever pays me the most for it. I’m waiting for them to post mine for sale. Would love to see what they’re trying to sell it for.
That’s some crazy math!
I hear ya. I was more than a little pleased with their offer! An educated buyer is not going to buy it for for 28k, you can still negotiate a new one for less than that.
Sale was too easy. They come to your house and take the car away. The next day you have a FedEx delivered check…
Carvana and Vroom offering me 30k on a fully loaded 18’ Red Sport with less then 20k miles, Either their trying to mark it up significantly or these cars lose value ridiculously fast!