https://preview.redd.it/ge1sr3nzmjy91.jpg?auto=webp&s=4c0c95da8bf65a755719cf17b87eaaed8de2c3b0
Used Cars in Peril
View Reddit by Aura_Financial – View Source
LEARN ABOUT: Investing During Inflation
REVEALED: Best Investment During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
HOW TO INVEST IN SILVER: Silver IRA Investing
So tell me why a 2005 Civic is still 12,000 here
10% decrease from a 100% increase is still +80% lol
What a surprise that when the used car market gets hugely inflated from Covid and the chip shortage that there would eventually be a crash that would rival previous large drops.
I cannot believe people shilled this shit company
Please do! My 15 year old car is barely holding on.
Caravana is the Michael Scott paper company.
“Why do you think no dealerships were able to beat your trade in values?”
Also you will never make money charging subprime customers a 2-3% markup. REAL subprime banks charge like 18% interest because they know they ain’t getting more than 6 months worth of payments from anyone who qualifies for an 18% car loan lol
Just a vending machine for Cars
The pre-owned market may have corrected but Facebook marketplace is forever fucked
You can’t really be a viable car vendor when you’ve been accused of hundreds of cases of title fraud and entire states have suspended your license.
Should help with inflation!
Bought my 2016 Tacoma with 6k miles for 35k in 2017. Sold it last March with 59k for 35k to a Toyota dealership.
Good news, with respect to inflation
How is this company still listed in stock exchange. Total scams. The owners sold their stocks at ATH.
Retail prices are still not reflected. Asking prices remain very high.
I work at a dealership, have access to multiple dealership brands.
Our grosses are still record high
Someone tell me where are those cheaper cars please
So this means I’ll finally be able to move out of my moms basement into a 2006 Honda CR-V….. massive W!
I hope people made money on options for this. The real question is if carvana goes under, will it crash the used car market.
Perfect timing. Sold my car to Carvana in February for more than I bought it for in 2018.
Didn’t really need a replacement so didn’t buy another one. Ready to pounce when a good deal shows up now.
It’s year/year though? Doesn’t seem remotely comparable to the other point marked on the chart that fell to -10% after a fairly normal market the year prior.
Sounds bullish should probably bet the house on Cvna calls Expiring in three days
Good I need a new truck
This will bullwhip when nobody can afford a new car
>That’s really interesting stuff, I had no idea used car prices were crashing. Thanks for sharing!
Car-what-a? If you want to buy used car you just look on Facebook marketplace or Craigslist and buy it from the owner. Craigslist has gotten kind of risky nowadays…. People will rob you.
This week in our series of “ What goes up comes down”…
Cash for clunkers time baby!!!!!
Carvana is Drive time.
I don’t care how good the business model is, Drive time is the scum of used cars and if it’s associated then it can’t be good.
Fuck yes
I bought my 2014 Honda Accord sport for 11.5k 1.5 years ago with 125000km on it. Now they are going upwards of 15-18k with over 100000km on them.
Used market will stay high demand till demand catches up . We have at least 6 months
Haha haha good one, now tell me that house prices are going down again.
The fact that used cars lose value, made headlines.
I can’t wait to tell my grandkids, how great the covid bubble was. We might not see another one for a couple decades.
The retail price is still high
The wholesalers ran out of money
These cars are overly inflated and well due a correction.
Do the dealers need loans to buy inventory at wholesale?
They will file bankruptcy and be gone soon.
So what you’re saying is the bottom is in? Calls it is.
How is KMX and AN still going up?