I sold my truck to make way for the Cybertruck! Who else is making moves?

[papajamaliciousness]

... So prices were inflated, ...

-Crissa

I have heard this explanation before, but today right now I checked on Carvana and right now there is a 2013 Outback and a 2011 Outback selling for $16,990 which is the exact same price I paid. I paid $16,990 in May of 2022 for a 12 Outback.

...

I believe the real explanation is that the formula they use to calculate value has a dramatic dropoff in price right around 100,000 miles and my car went over this threshold even though I've driven very few miles. Also yes obviously there is some market stuff going on.

What I'm getting at is the retail price for my car has not changed very much, but the wholesale price is diving off a cliff. 2 months ago I could have gotten $8500 for the car from carvana. Today they are offering $5800. Since I owe just under 11k and the car to me is worth more than $5800, and there is a chance I will need the car... I don't feel comfortable selling it. If I were just under water by 2k I'd probably dump it now and take the loss, maybe take a loan to cover the difference. But 5k?

Over time I am getting closer to break even so when it gets to be less of a bitter pill to swallow I'll probably just go through with getting rid of it. On the other hand this car might get me through the winter of 23-24 so maybe it's good to hold onto. I could even pay it off in the meantime. And at least for now I'm not paying a Tesla monthly payment.

Given what I hear is happening with the used car market right now I don't see this problem of the glut in used car availability going away soon. In fact it's probably going to get much worse in the next couple of months.

...

But I stand by my statement that if I had bought a reasonably priced brand new car of any non-luxury type and put 6,000 miles on it, I NEVER would have lost 11K of value in one year. It would have been a wiser decision to buy a brand new Subaru Outback, if I had been able to do that. I suspect that people buying carvana cars today are in the same crosshairs I was in. If I were in a desperate situation needing a car today, I would buy the cheapest working available car on carvana, not what I bought. I still blame carvana guys. I know you might not be onboard with me there and that's fine.

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[Gurule92]

I have heard this explanation before, but today right now I checked on Carvana and right now there is a 2013 Outback and a 2011 Outback selling for $16,990 which is the exact same price I paid. I paid $16,990 in May of 2022 for a 12 Outback.

...

I believe the real explanation is that the formula they use to calculate value has a dramatic dropoff in price right around 100,000 miles and my car went over this threshold even though I've driven very few miles. Also yes obviously there is some market stuff going on.

What I'm getting at is the retail price for my car has not changed very much, but the wholesale price is diving off a cliff. 2 months ago I could have gotten $8500 for the car from carvana. Today they are offering $5800. Since I owe just under 11k and the car to me is worth more than $5800, and there is a chance I will need the car... I don't feel comfortable selling it. If I were just under water by 2k I'd probably dump it now and take the loss, maybe take a loan to cover the difference. But 5k?

Over time I am getting closer to break even so when it gets to be less of a bitter pill to swallow I'll probably just go through with getting rid of it. On the other hand this car might get me through the winter of 23-24 so maybe it's good to hold onto. I could even pay it off in the meantime. And at least for now I'm not paying a Tesla monthly payment.

Given what I hear is happening with the used car market right now I don't see this problem of the glut in used car availability going away soon. In fact it's probably going to get much worse in the next couple of months.

...

But I stand by my statement that if I had bought a reasonably priced brand new car of any non-luxury type and put 6,000 miles on it, I NEVER would have lost 11K of value in one year. It would have been a wiser decision to buy a brand new Subaru Outback, if I had been able to do that. I suspect that people buying carvana cars today are in the same crosshairs I was in. If I were in a desperate situation needing a car today, I would buy the cheapest working available car on carvana, not what I bought. I still blame carvana guys. I know you might not be onboard with me there and that's fine.

Have you looked at private party value?

Selling to carvana is always going to be worse

 

[papajamaliciousness]

Have you looked at private party value?

Selling to carvana is always going to be worse

Honestly everything has changed so much I don't even know how to sell a car to an individual. Facebook marketplace, ebay, and craigslist all just seem like dens of thieves and scammers to me, and I don't know where else to go.

What do you suggest? Thx

 

[Gurule92]

Honestly everything has changed so much I don't even know how to sell a car to an individual. Facebook marketplace, ebay, and craigslist all just seem like dens of thieves and scammers to me, and I don't know where else to go.

What do you suggest? Thx

I still use Craigslist. Use bills of sale, meet in safe place, try to get cash, otherwise needs to be a trusted form of payment.

I haven't been scammed yet

 

[Crissa]

Also, just because it's listed, doesn't mean it's selling at that price. That's called 'stickiness' in market terms,

-Crissa

 

[Cyberostachu]

Have you looked at private party value?

Selling to carvana is always going to be worse

Not only Caravana. Carfax, cheated me when I sold my SUV years ago. I won't go to those places again. Some people may have traded their cars to Tesla. Anyone heard of an experience?

 

[Gurule92]

Not only Caravana. Carfax, cheated me when I sold my SUV years ago. I won't go to those places again. Some people may have traded their cars to Tesla. Anyone heard of an experience?

I did a trade in quote. Seemed about in line with carfax

 

[datechboss101]

Not only Caravana. Carfax, cheated me when I sold my SUV years ago. I won't go to those places again. Some people may have traded their cars to Tesla. Anyone heard of an experience?

Almost traded our Nissan Rogue to Tesla prior to purchasing our Model Y, although they were $2k more than the Nissan Stealership who lowballed us an insulting offer.

 

[Alan]

Tesla offered 4000 for our 2006 crv. Sold it to someone who called 10 minutes after putting an add on Craigslist for 7500 cash. No company offers a fair value.

 

[Cyberostachu]

I did a trade in quote. Seemed about in line with carfax

Thanks for your response.

 

[Gurule92]

Yes when I sold my model 3 I sold to a Hyundai dealer lol

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