Selling My Car... who pays most?

[Jon]

Who's paying the most these days?

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[connoisseurr]

Try them all.

Carvana, Vroom, CarMax, InRide, CarBuyerUS, Driveway, GiveMeTheVin, Shift, Carlotz, Autonation. Get the highest offer, and see if a local Ford dealership will take it for that amount. I know most of the dealers in DE have limited inventory.

 

[Jon]

I just tried Carvana, Vroom and Driveway. I had a price from Driveway for $67k a couple of months ago when I was thinking of selling. Just got a new price today for $53k. Sadly, my car had been in the the HVBJB for 5 weeks and has lost $14k in value.

 

[connoisseurr]

I just tried Carvana, Vroom and Driveway. I had a price from Driveway for $67k a couple of months ago when I was thinking of selling. Just got a new price today for $53k. Sadly, my car had been in the the HVBJB for 5 weeks and has lost $14k in value.

Your car lost value because the market is cooling. There are many EVs saturating the market.

 

[Jon]

That or the fact that there is a known HVBJB issue.

 

[connoisseurr]

That or the fact that there is a known HVBJB issue.

Doubt it. Rivian R1Ts were selling for $125k a month ago, now it's hard to get even close to $100k for one. A charity auction just ended and they failed to meet the reserve. Highest bid was $85k.

Market is cooling. Borrowing money is too expensive.

 

[Jon]

If it wasn't in the shop for 5 weeks, I would have got a bigger offer.

 

[RedStallion]

The used car market is in the beginning stages of collapse. On one hand, banks are flooding auctions with the repossessed cars. The latest report from auction giant Manheim found that wholesale prices were down 2.3% in the first half of September, following a 4% drop in August. On the other hand, the forward estimates of the economy look grim, the recession is going to drive car prices down in 2023 significantly. And, of course, the financing rates are getting pretty high.
Sell while you still have a good offer.

 

[voxel]

Who's paying the most these days?

Ford dealers.

I got fed up with my GTPE and traded down to a Premium AWD ER (last order) and am loving it.

While auction prices are collapsing, I think there is still demand for Mach-Es because I ran numbers through Blackbook and they are still really high (but much lower for Teslas).

Last week, Ford dealer offered $71K and sold it two days later at $75K! I might have been able to get more if I wanted too but I was happy to jump back into a less-power hungry non-fake-trackable EV.

 

[Vulnox]

Yeah, market is cooling so if you're serious, don't sit being too sad about not getting a price that was available months ago. When we were within a month of our Mach-E delivery date, I checked the sites and was getting mid $16k offers for our Focus Electric.

Checked again two weeks later, now best I found was $15,800.

Then the car arrived and the best I found was $15,300.

In the range of a month we lost a little over $1000 in trade in value, and if the car had not sat in Kansas for seemingly two weeks, we wouldn't have lost as much. As others have said the market is cooling. I know your difference in price is more significant in real dollar values, but just mentioning it from a market cooling perspective. It's being seen all over.

 

[sotek2345]

The used car market is in the beginning stages of collapse. On one hand, banks are flooding auctions with the repossessed cars. The latest report from auction giant Manheim found that wholesale prices were down 2.3% in the first half of September, following a 4% drop in August. On the other hand, the forward estimates of the economy look grim, the recession is going to drive car prices down in 2023 significantly. And, of course, the financing rates are getting pretty high.
Sell while you still have a good offer.

Exactly this. I got much less than I was planning for my Raptor when I traded for my Lightning about a week ago. Dealer was still able to beat the numbers I got from Carmax and Vroom, but wow that was a wake up call.

 

[Mrn]

Craig's list may be the best way to go. 5 bucks to list including generous allowance for pictures. You can message with buyers through the list rather than giving your own messaging info to them. You can meet them in a mall parking lot to avoid giving your home address.

We found a buyer on day 1 for a 2000 Camry and got our 7500$ asking price. That was a couple of months ago for a lot less money, but It might be worth a try.

 

[Ngkgb]

Autonation in SoCal is pretty good. Offered 52500 on Premium RWD we just picked up. Got it for 3k above MSRP so would make a decent profit if I were to flip.

 

[tuminatr]

That or the fact that there is a known HVBJB issue.

It's possible, what trim do you have? Select, Premium, GT, GTPE ?

 

[DennisD]

It appears that my local Dealership has a GT that is selling for MSRP.
https://www.baxterford.com/inventor...h-e-gt-performance-awd-cuv-3fmtk4sx4nma45600/

With that being said, the used car market is tanking by the minute.

If you can now get a new model for MSRP, you will certainly get far less for a used one (at least 7.5 k less)

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