REVscene Automotive Forum - anything like Carmax/Carvana in BC?

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anything like Carmax/Carvana in BC?

came across this on the miata board regarding Carvana

apparently new/used market is a heavy seller's market right now..ie. people are reporting <10% depreciation after 1 year ownership from new

Quote:

Just sold a car to them. They appraise it online based on a short questionnaire. Unless there's major damage they spot in-person that you failed to disclose, what they appraise online is what you get at the end. I believe if they notice undisclosed damage, they'll just nix the deal altogether instead of offering less.

After getting their offer, you upload docs to their website showing your license, title, and the odometer.

About 1-2 days later, they will respond. At that point, they asked for pics of the damage I indicated in the questionnaire. 24 hours after uploading the pics, they sent an email saying my sale was approved and to please set up a pick up date. That was on a Monday, and the earliest was that Thursday so that's what I picked.

The guy came out to my house with a flatbed. First thing he did was drive my car around the block to check the odometer, then he did a quick walk around. Literally less than one minute inspection. Then he had me sign a power of attorney and a bill of sale, and handed me a check for the value of the appraisal. Then he loaded the car in his flatbed and off he went. I was able to immediately deposit the check using my bank's smartphone app.

From getting the offer to having check in-hand took one week. The actual pickup appointment took 15 minutes.

This would be a great business here as long as they don't offer you peanuts for the car. I'm fed up trying to deal with people on craigslist. I sold two cars in the past month and its been such a pain in the ass.

Selling cars on Craigslist is an art... and great for anecdotes and/or a filler chapter if you’re writing your memoirs

After 11 years in the business, I a started a business to try and execute a different way of buying and selling cars. Unfortunately, we don't have the scale that CarMax or Carvana do yet, however, over time I am hoping that we can scale our idea into something larger.

Most our cars do come off Craigslist and we try to minimize the amount of hassle for the seller.

But just as it's a hassle to sell a car, it's an equal hassle to buy:

- A high percentage of sellers think their car is in impeccable condition. They fail to disclose a great deal of cosmetic damage and lack of maintenance that is material to a vehicle's value.

- Many sellers fail to disclose true accident or claim history. No accidents could mean they had no accidents while they owned it. However, they are the 3rd owner and the first 2 owners did have accidents.

- Some sellers are just trying to test vehicle value and not ready to sell.

- Some sellers have liens on their vehicles that they can be unaware of or have failed to clear.

- Some people refuse to sell to a dealer (even if I can pay the asking price).

The Carvana model is nice and flashy. But in reality, a week can be a long time from selling a car to getting your cheque (uncleared funds FYI). If I see a reasonable buy, I will contact the seller, be there in an hour max within the lower mainland and provide a bank draft that is guaranteed funds within the same day.

Kev

I wish, a lot of the guys in the states are selling their 3rd Gen Tacoma's to them because they are basically buying them at MSRP. It's crazy

Quote:

Originally Posted by Roach (Post 8995232)

The Carvana model is nice and flashy. But in reality, a week can be a long time from selling a car to getting your cheque (uncleared funds FYI). If I see a reasonable buy, I will contact the seller, be there in an hour max within the lower mainland and provide a bank draft that is guaranteed funds within the same day.

apparently they show up with a bank draft on the assessed value, unless there's glaring mechanic troubles/body damage not disclosed prior then they just walk rather than negotiate a reduced value

i dont know, a questionnaire to get value then just a short superficial inspection before hauling it away sounds good even if it takes few days...i'm not desperately trying to offload ie. leaving the country by the end of the day

no time wasted/games