In reply to dps214 :
Magic mountain was terrible but it was better than yet another used car lot. I'd have loved to take my kids there once they're old enough. The car vending machine may go up still they were working on site prep last time I drove past; the reports of carvanas demise might be a bit hasty as mostly it's a stock price rout which doesn't affect day to day operations much. It's not a good indicator as it means investors believe their business is failing but it's not a sure thing.
I started van shopping about a month and a half ago hoping we would see the prices start to drop.
Initially I was seeing one, possibly two or maybe no vans in my price, mileage and age range, but slowly that's changing. I've not changed the parameters of my search, and this afternoon it returned twelve, and one of them is one of those big we deliver the car to you type lots.
It seems like there are at least a few business models that were touted as innovation, but were really just zero interest rates plus some sketchy book keeping.
Big surprise. I sold my Frontier to them for 38K. I just saw it pop up at a local dealer for 33K. So they lost 20% on that at least. My BRZ lost them 15% as well because that wholesaled. Hmmmm big surprise they are going under.
Andy Neuman said:¯\_(ツ)_/¯ said:At what point can we get those big silly vending machines at deep discounts? Just picture this bad boy stacked to the roof with challenge cars:
They have one in Jacksonville, time to start talking Jeremy into buying it.
There's one in Orlando, too. Could be a nice eyesore.
Mndsm said:Andy Neuman said:¯\_(ツ)_/¯ said:At what point can we get those big silly vending machines at deep discounts? Just picture this bad boy stacked to the roof with challenge cars:
They have one in Jacksonville, time to start talking Jeremy into buying it.
There's one in Orlando, too. Could be a nice eyesore.
Between Stampie and I we could probably fill it up...
So on the return to normal prices front... I don't really care much for CarGurus but if I see something I'm interested in I'll see if I can find it there.
This was on a 2017 Caravan, I really do like this feature.
98 days at this dealership · 98 days on CarGurus · 2 saves
Selling slowly
On the market longer than average. There may be flexibility on price.
Price decreased
Price went down by $5,000.
They've built one of those Carvana vending things near my office. It's still empty, I wonder if it'll ever go into service...
Peabody said:So on the return to normal prices front... I don't really care much for CarGurus but if I see something I'm interested in I'll see if I can find it there.
This was on a 2017 Caravan, I really do like this feature.
98 days at this dealership · 98 days on CarGurus · 2 saves
Selling slowly
On the market longer than average. There may be flexibility on price.
Price decreased
Price went down by $5,000.
Cars.com also has a price tracker. In what I'm shopping for, probably half of the vehicles for sale have been for well over a month and have had at least one or two price drops. I just need to figure out how far into the winter I can stand to wait. Unfortunately probably not much longer.
docwyte said:They've built one of those Carvana vending things near my office. It's still empty, I wonder if it'll ever go into service...
What can they use a building like that for if not a Carvana type store ?
office space with a view ?
In reply to RX Reven' :
Buy on the dip?
David S. Wallens said:In reply to RX Reven' :
Buy on the dip?
For the price of 1 share of Carvana, you could buy this dip and probably get more enjoyment out of it:
In reply to STM317 :
Mmmmm, dip.
RX Reven' said:
News came out today that several of Carvana's creditors wouldn't fight each other over who gets the bigger share of the carcass. Even though they likely have enough funds to operate for a while, and might even pull off a recovery (doubtful), that probably spooked a lot of investors.
David S. Wallens said:In reply to RX Reven' :
Buy on the dip?
No thanks, CNVA has fallen 98.4% YTD...time to put it out of its misery.
If you're looking for a miracle turnaround play, BBBY can tell a better story.
In reply to RX Reven' :
They just need to invoke AMC and become a meme stock.
I remember a few years back a Carvana tower was being built along I-10 near my house. I watched progress trying to figure out what they were building. Then I saw a large hydraulic package show up and figured that was for elevators. Then I found out it was elevators for cars.
I told my (ex) wife that no way these people will be successful, this thing is way too expensive to get a payback.
I don't know what those towers cost but I am figuring $5 million plus. Anyone have ideas about that?
I just did an online search. Carvana said in one interview that their car buying experience is "only" about 5% more than a typical dealer but the customer gets to watch their new car ride down on the elevator(!?). Did no one tell them at 5% can be a deal breaker? That's $1000 on a $20K car.
In reply to RX Reven' :
Never catch a falling knife......
Datsun310Guy said:In reply to RX Reven' :
Never catch a falling knife......
Agreed.
Here's the thing though, I hate shopping with very few exceptions but BBBY is one of them.
I love checking out all the gadgets and I'll actually buy stuff there..samlpe size of one blah, blah, blah but I won't be shocked if they turn around.
In reply to jharry3 :
Car dealers spend more than $5M building facilities, but they do get service customers to help pay the bills.
On a side note Carvana ran 23,800 vehicles through the auction Today vs their typical 2500 or so.
In reply to Steve_Jones :
Wow, 23,800!!!!
Steve_Jones said:In reply to jharry3 :
Car dealers spend more than $5M building facilities, but they do get service customers to help pay the bills.
On a side note Carvana ran 23,800 vehicles through the auction Today vs their typical 2500 or so.
Holy E36 M3! Talk about liquidating assets!
If it could wait until after I finish my garage so I can sell my truck for top dollar that would be great.
93EXCivic said:If it could wait until after I finish my garage so I can sell my truck for top dollar that would be great.
That moment has passed regardless of the state of carvana.
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