Used Mach E pricing dropped (Carvana)

[kkgg]

I am getting emails every other day from carvana that the Mach E I checked before dropped in price.
This time they dropped by 5k.

Whats going on

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[Gjp719]

Carvana needs cash.

 

[generaltso]

Whats going on

Ummm.....used car prices are dropping?

 

[kkgg]

Ummm.....used car prices are dropping?

yeah but this is huge drop(by 5k) not only for Mach e but any premium vehicle.

On a side note,
I only wonder people who paid ADM and loan with huge APR.
They are already upside down a lot.

 

[generaltso]

yeah but this is huge drop(by 5k) not only for Mach e but any premium vehicle.

Yes, this is happening across the board. Used car prices were artificially high, and now they're correcting.

 

[voxel]

I get the same e-mails but for a Wrangler 4xE. Price has dropped $8K in the month or so. $2K per week it seems.

 

[RickMachE]

Carvana will likely declare bankruptcy this year. In SE Michigan, they just got shut for 3 years by the state, so if you buy or sell with them there is no longer a Michigan location.

 

[Rogue Pony]

Cars are depreciating assets and the elevated pricing during the pandemic is the outlier not the norm. Now it is regressing back to the norm. The days of flipping Tesla and MME are over. Make sure you really want the car and ok with the depreciation before committing.

 

[Maquis]

I traded in my 17 F-150 for my Lightning last week. I had planned to sell it to either Vroom or Driveway, but their offers were about $10K less than what they were last summer, and nowhere near what I got for trade in.

 

[nvabill]

Wonder if Carmax is doing the same?

 

[moparguy]

A local Ford dealer here in Socal had a 2021 Mach E GT Performance, 24k miles, certified pre owned, it sold yesterday for $57K ! so yep, prices are going down every where, my friend took his Mach E to Carmax last week, they told him they are not buying that model at this moment.

Prices soared, and now its time to go back to normal, some people are hoping Carvana would go out of business, but I hope not, they will shake the whole automotive industry, they are the ones keeping the market afloat at auctions and people are selling to them.

 

[Cm12]

Vroom and Driveway are falling like rocks too. Somehow, CarMax in Portland just bought my 2021 premium with 8,000 miles for $47,000. We have minimal sales and registration tax, so it was only $53,000 out the door when I bought it. I don’t know how they expect to sell it at a profit considering their overhead.

 

[Logal727]

Uuuughhh. Expected.. but man this hurts for trade-in.

 

[SprManKalEl]

We lucked out. I had a 2017 Hyundai Elantra Limited with 73,000 miles that I bought brand new for $19,000. When I bought my MME in July 2022, I sold it to CarShop for $14,500. The dealer wanted to give me $8,000 for it.

 

[Kamuelaflyer]

They are already upside down a lot.

Yes, that's pretty much how owning a car is, particularly in a declining market.

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