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Carvana- selling your car without trading in

wvmtneer

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Has anyone sold a car to Carvana? I have a loan, but the equity is significantly higher than loan. I just submitted information for my Mustang, and the price seems fair. My plan is to trade it in for a Bronco next year anyway. I’m tempted to sell today and not make payments for the next year and save 1 year of depreciation as well.
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Has anyone sold a car to Carvana? I have a loan, but the equity is significantly higher than loan. I just submitted information for my Mustang, and the price seems fair. My plan is to trade it in for a Bronco next year anyway. I’m tempted to sell today and not make payments for the next year and save 1 year of depreciation as well.


I actually just sold my truck through carmax. It had some body damage and I feel they gave me a fair offer. I went to 2 dealerships and they low balled me like 4k lower than what carmax offered. So I was happy and the process was fairly simple.
 

Lindy08

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Probably not a good enough question to ask in a new thread so I'll ask it here since the topic is close enough.

This will be my first time trading in a vehicle, how close is the dealer likely to come to "kbb trade in value" As in, what should I expect?
 

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Granger Ford

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Probably not a good enough question to ask in a new thread so I'll ask it here since the topic is close enough.

This will be my first time trading in a vehicle, how close is the dealer likely to come to "kbb trade in value" As in, what should I expect?
KBB trade value is a combination of discount of vehicle and ACV - actual cash value..

There are 2 transactions when trading a vehicle Dealer selling you one and you selling the dealer one..

To get an acv I usually shop CarMax in my area (yes I like to know as well) to see the bottom number and then I usually sell mine on my own...
 

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Probably not a good enough question to ask in a new thread so I'll ask it here since the topic is close enough.

This will be my first time trading in a vehicle, how close is the dealer likely to come to "kbb trade in value" As in, what should I expect?
They should come pretty close but I would make sure you have a friendly dealer and tell them your requirements before hand. They may hold this over you for the reservation if they are an aggressive dealer who is locked into your delivery.
 

Lindy08

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They should come pretty close but I would make sure you have a friendly dealer and tell them your requirements before hand. They may hold this over you for the reservation if they are an aggressive dealer who is locked into your delivery.
right, that's sort of my fear.
 

vrtical

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sales tax credit comes into play so most of the time trade in is going to get you a better price if you know what your doing. This is outside of course private sales. The other issue is going to be time frame between order and trade in.
 

03bulldog

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I sold my summer car to carvana last week for the same reasons - was planning to trade in on the bronco anyway and didn't want to deal with depreciation. Plus the offer was really good. I didn't have a lien on it, but the whole process was fast and easy. The guy showed up, took a few pictures, and drove it around the block. We signed some paperwork (3 pages or so), and I gave him the keys/title. Direct deposit was in my bank account the next day.
 

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Probably not a good enough question to ask in a new thread so I'll ask it here since the topic is close enough.

This will be my first time trading in a vehicle, how close is the dealer likely to come to "kbb trade in value" As in, what should I expect?
Expect the low end KBB value if you're trading it in. Lower than that if you're just selling it.
 

BlueBronco

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sales tax credit comes into play so most of the time trade in is going to get you a better price if you know what your doing. This is outside of course private sales. The other issue is going to be time frame between order and trade in.
Was going to bring up the tax credit as well. When you trade in a car you only pay the taxes on the difference between the sales price and the trade-in amount. Each situation is going to be different for everyone. Best to whip up a spreadsheet and see what will work best for you.
 

FJ 432

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Wife's car is a 2018 BMW X4 with 6k miles. I tried several websites. Carvana was the highest by $800.00. I ended up not selling the vehicle. They seemed fair. One site was a total lowballer.
 

Karl_in_Chicago

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sales tax credit comes into play so most of the time trade in is going to get you a better price if you know what your doing. This is outside of course private sales. The other issue is going to be time frame between order and trade in.
This is *generally* good advice but it is important for the individual to understand the tax rules that apply in *their* locality. In some places the sales tax is applied to the sale price and not the net price; in some places (like here in Illinois) the sales tax is applied to the net (sale - trade-in). However even that has a twist as starting this year Illinois now taxes the *trade-in* if it exceeds $10K. Yeah, you paid sales taxes on that vehicle once and now you get taxed *again* if it's still worth something! Anywhoo, I digress, the point is that all tax reg's are local and the buyer/seller really needs to know how their particular taxes work for them.
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