[HN Gopher] Carvana, which bought my car for more than I paid ne...
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       Carvana, which bought my car for more than I paid new, has lost 98%
       of its value
        
       Author : Amorymeltzer
       Score  : 12 points
       Date   : 2022-11-16 21:32 UTC (1 hours ago)
        
 (HTM) web link (www.theverge.com)
 (TXT) w3m dump (www.theverge.com)
        
       | bityard wrote:
       | Good. When I was shopping for a used car a couple years ago, I
       | found virtually no good candidates from private sellers because
       | Carvana had completely gutted the second-hand car market where I
       | live.
       | 
       | Their business model is to basically corner the market by buying
       | _all_ the available newer used cars (often above book value) from
       | private sellers and dealerships and then advertise the crap out
       | of them on all the usual car listing websites with the goal of
       | being the _only_ option that most people have for buying a used
       | car.
       | 
       | I don't have a problem in principle with "no-haggle" dealers in
       | general. Plenty of people don't mind paying more than they have
       | to for a car, just to avoid talking to a stranger. But the way
       | Carvana operates is just begging for some kind of regulation.
        
       | adamredwoods wrote:
       | I looked at Carvana before deciding on buying a used car from
       | CarMax. The big problem was that I can not test drive the car
       | from Carvana before committing. The return fee if I didn't buy
       | the car made it too risky.
       | 
       | At CarMax, I could see, drive, and smell (darn smokers!), the
       | used car. The "no-haggle" experience at CarMax still turned into
       | a haggle for upgrades, just not the base price.
        
       | toomuchtodo wrote:
       | Carvana was created to enrich its management at shareholder
       | expense. Think a less over the top WeWork.
       | 
       | https://www.thedailybeast.com/used-car-billionaire-ernest-ga...
        
       | avgDev wrote:
       | The way carvana buys cars is INSANE and the return policy is
       | pretty crazy too. I don't see carvana ever being a successful
       | business model as it stands now.
       | 
       | No proper inspection at pick-up. Dealers often send people who
       | know their stuff to auctions and they use things like paint
       | meters to check for body work. I worked for a dealer and also
       | painted cars. I could spot repainted panels without tools, and if
       | I could not spot them it was a professional job. Not all
       | accidents are reported and on things like carfax, this is all
       | carvana cares about.
       | 
       | The delivery and moving cars across states is not cheap. Returns
       | must be really expensive for carvana.
        
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       (page generated 2022-11-16 23:02 UTC)