Allpar Forums banner

Carvana offered me $175.00 for my PT Cruiser

3522 Views 67 Replies 20 Participants Last post by  NCAngela
Azure Font Electric blue Publication Logo
Azure Font Electric blue Publication Logo

181108 miles faded paint.
1 - 20 of 68 Posts

Super Moderator
1966 Crown Coupe, 2016 200 S AWD, 1962 Lark Daytona V8.
Joined
17,316 Posts
I think, from what I've heard is that Carvana is on the way down & out. It was a business experiment to try and be a used car dealer without the salespeople?

I still prefer to deal with a brick & mortar store with a full support staff. I realize that I'm paying for their overhead, but I feel more confident about a product purchase that way. I go in knowing what I want & don't feel 'intimidated' while asking for & getting what I want.

Carvana has over $6 billion in debt and a 1.34 star rating. It's toast.
 

Registered
Joined
3,448 Posts
. . . . I think, from what I've heard is that Carvana is on the way down & out. It was a business experiment to try and be a used car dealer without the salespeople? . . . .
Carvana expanded its business model too quickly. With production cuts and limited availability of new automobiles, Carvana stepped in and was offering ridiculous prices for used cars to meet the demand. Carvana expanded too quickly and was selling cars and it was taking months for it to forward correct title and registration documents to the new purchaser.

Carvana has so much debt that lenders are concerned. There are meetings between Carvana management and its lenders to determine ways to reconfigure its debt so that bankruptcy and liquidation is avoided.

With easy credit provided by lenders and extremely low interest rates, people were willing to pay inflated prices for used and new cars. Now that interest rates have gone up, demand has curtailed, dealers MUST negotiate to move inventory. Flooring costs that dealers pay to maintain inventory are increasing and so dealers must move inventory instead of waiting for a "fool" to pay thousands of dollars over MSRP on a vehicle.

Just because you buy a vehicle at a brick and mortar store does not mean that dealership is on sound financial footing. In most cases a financial lender that backs a dealership inventory holds the title to all vehicles that the dealership has in the floor plan. When a vehicle is sold the dealership must pay off the flooring loan to the lender to be able to forward the vehicle title to the new purchaser. If the dealership is having cash flow issues, you may be making monthly payments on a new or newer used vehicle purchase and not get the title because the flooring lender will not release it. Lots of "gotchas" today when buying a new or used vehicle.
 

Registered
Joined
79 Posts
Carvana are a bunch of quick buck thieves preying on suckers who think they have no other option but their phones, with no brains, no initiative. They don't WANT your PT Cruiser because it does not fit their shallowminded demographic, and this is their rude way of saying, "Go Away.."

Now if you had some trendy, sizzle-over-steak overpriced junk like a BMW...
 

Registered
Joined
277 Posts
I've seen the same figures on Carvana. For the PT Cruiser, it's a niche market. People either love or hate them. I got my first one to help someone out in a nursing home that had to settle things. I sort of over paid but once I was using it, I got to liking it. I eventually sold it so when my current one came up, again to settle affairs, this time for a pending estate, I picked it up.

For a PT Cruiser, you'll be better off to sell to an individual.

On a related note to Carvana, a few years ago, a dealer across the river in Kentucky was selling cars and the owners suddenly had them shut off. They had paid for the cars and were waiting on the titles. The dealer didn't pay for the cars so the titles were held up and the cars had remote shut down devices to shut them down.
 

Super Moderator
1966 Crown Coupe, 2016 200 S AWD, 1962 Lark Daytona V8.
Joined
17,316 Posts
Even the newest PT is now 13 years old. Too old for a viable used car. Fuel economy of 22-24 mpg doesn't really make the charm of owning a PT worthwhile for most buyers.
Don't get me wrong, I like the PT fine & it is a matter of finding a buyer who is looking for one.

Our dealership wholesaled or auctioned used cars that were over 5 years old after the deal was concluded. The trade-in allowance going towards a new car just made it worth it. Anything on the lot that old had to be sold 'as-is'.
 
  • Like
Reactions: NWbyNW and Dave Z

Virginia Gentleman
Joined
8,735 Posts
Our dealership wholesaled or auctioned used cars that were over 5 years old after the deal was concluded.
The CDJR dealership I purchased from in the past wholesales or sends to auction any trade that is older than 4-5 years old or over 50,000 miles. Most trades are both. Not too many with less than 50K or younger than 5 years old.
 

Registered
Joined
1,173 Posts
With that many miles, faded paint, and that old of a car... that isn't too far off from a typical offer. Hate to say that. Sure the dealer might get a few grand for a PT, but most are being sold at auction or for parts.

I used Carvana once and had a great experience. They offered me almost $5k more than all the dealerships. Sure I could sell for more on my own, but they got rid of the hassle and saved so much time. Good luck on selling or not selling your vehicle.
 

Registered
Joined
277 Posts
With that many miles, faded paint, and that old of a car... that isn't too far off from a typical offer. Hate to say that. Sure the dealer might get a few grand for a PT, but most are being sold at auction or for parts.

I used Carvana once and had a great experience. They offered me almost $5k more than all the dealerships. Sure I could sell for more on my own, but they got rid of the hassle and saved so much time. Good luck on selling or not selling your vehicle.

Unfortunately, that's looking to be their downfall. They over paid to snap up cars so other dealers couldn't get them.
 

Registered
Joined
277 Posts
Even the newest PT is now 13 years old. Too old for a viable used car. Fuel economy of 22-24 mpg doesn't really make the charm of owning a PT worthwhile for most buyers.
Don't get me wrong, I like the PT fine & it is a matter of finding a buyer who is looking for one.

Our dealership wholesaled or auctioned used cars that were over 5 years old after the deal was concluded. The trade-in allowance going towards a new car just made it worth it. Anything on the lot that old had to be sold 'as-is'.

Normal dealerships don't like older cars, that is true. However, around 15 to 18 years old, there is a market for the collector cars for drivers who can now afford the cars they desired when they were younger. Look at the big money going at auctions for restored collector cars. While the occasional Deusenburg and Cord crosses the block, Mustangs, Camaros, even pickup trucks are the hot property now. Granted, the PT's are never going to be a major factor, there will still be the kid who grows up and wants to get the car that Grandma had. I tried for years to buy a particular 1968 Plymouth Satellite. It was the only new car my parents bought while they were married and it was one I learned to drive in.

My current PT was bought to A, teach my niece to drive a stick, and B, help settle a pending estate. Unfortunately, unlike my previous PT, it's a soft top with wider doors and I can get out of a car with 4 doors by levering myself out, the soft top had larger doors and I tend to fall out.
 

Virginia Gentleman
Joined
8,735 Posts
Have to keep in mind the "offer" is the wholesale offer. A dealer or business such as Carvana is never going to offer "market value".

Most sellers overvalue their vehicles. If you go to a website such as KBB I usually use the fair condition price. Any mark, scratch, or mechanical issue knocks it down from good to fair.
 

Registered
Joined
37 Posts
Unfortunately the PT was hot for a couple of years of sales but interest other than by an aficionado has waned because almost nobody other than us knows what a PT Cruiser is (was). For most its now only worth what the steel is worth as scrap.

Sorry for the low ball but Carvana isn't likely to last. .
 
1 - 20 of 68 Posts
Top