Simply put, demand for used cars is high and established used car buyers like Carvana make the selling process almost as easy as 1,2,3.
Because of this global pandemic, a new norm for car buying is here that shows no signs of slowing. As mentioned, demand for used cars is through the roof since financing a new car is not on the table for a large majority of cash-strapped Americans.
Scrolling through social media, a one-two punch combo I’ve seen lately is people selling their cars online and then using Carvana because of the crazy offers they’re receiving.
This is no coincidence.
Here are 10 reasons, if you’ve got a used car just sitting, that you need to sell that car on Carvana A.S.A.P.
1. A car market that temporarily favors used car owners willing to sell
This is the biggest reason right now. At first when I saw the offers Carvana was giving to people, I thought it was a clever hoax; they were too good to be true. Here’s a smattering of posts of Carvana offers I saw, sometimes for more than they originally bought them!
Friend: “Best offer I got on the trade-in was $3500 for my 2009 Nissan. However Carvana offered me $4800 to purchase it sight unseen and they will pick it up from my house.” If Carvana keeps up this kind of ridiculousness, their clock is ticking. Tick-tock, tick-tock…— Adam (@cipil429) September 23, 2020
just sold my car to @Carvana and I'm pleasantly surprised how smooth the process was from online appraisal to pickup. I immediately check their stock, and now I'm kicking myself for missing out on their well-deserved stock performance this year $CVNA— Mooroo Bee (@mooroobee) August 2, 2020
And this trend shows no signs of slowing. Earlier this week, Analysts from Barron’s and Pipler Sandler reported demand for used and junk cars was rising, signaling a rise in price for sellers.
According to Analyst Alexander Potter,
“Older cars, 5 to 10 years of age, are doing particularly well. Older cars are typically harder to sell than newer models but you should take advantage of the changing market and get cash for your junk car.”
No one truly knows how long this window for sellers will last, but by my estimations, we’re talking months.
The second biggest reason is convenience. You are selling your car from the comfort of your own home, no need to wash your car, place it in front of a busy intersection with a for-sale sign, and no need to deal with used car buyers in your area that are not serious.
According to Carvana, the nitty-gritty of it is you submit a few pertinent details to Carvana about your car, you get a real-deal offer within minutes ,submit further documentation like a payoff statement from your bank, schedule a pickup , and then get paid.
If you’re on the fence, here are a handful of unbiased reviews on Reddit of Carvana’s car buying process that all mostly echo each other, “it’s a pretty straightforward process.”
- 6/20/2020 Selling to Carvana (Read the comments?)
- 3/03/2020 – Experience selling a car
- 9/11/2020 – Sold my car to Carvana today
- Reddit’s Reviews on /r/Carvana
Carvana takes the guesswork out of researching what paperwork you need. They’ll literally make sure they have all specific paperwork needed from your end depending if you still owe money or not.
Typically, all you need are photos of your license, odometer reading and your title.
Selling your car the traditional way by placing an ad and vetting buyers exposes you to people not in your immediate circle.
Used car buyers will want to take a test drive and, it would behoove you to ride along, you must sit shotgun, within inches of their person.
Carvana uses a touchless delivery where they’ll leave all the paperwork for you to sign on the windshield of your car and THEN inform you they’re there.
While you’re doing your paperwork, they’ll take your car out for a test drive and sanitize all touch points afterwards.
In the event something is not up to snuff, potential cross contamination (COVID-19 or otherwise) between Carvana employee and you is minimized.
Carvana is available in 29 states that includes major metropolitan areas. If you live within 100 miles of those Carvana locations, you can sell your car to them.
Carvana will also meet you halfway. If you’re willing to drive to a designated pickup, that’s not inconvenient for either of you, Carvana doesn’t have to come to your house.
6. Avoid tire kickers
A tire kicker is someone who says they’re going to buy your car but doesn’t or ghosts you when you ask “where you at?”
Selling your car on Carvana means you’re guaranteed when the truck arrives and everything checks out, they’ll drive your car away.
7. Peace of mind
Selling your car by yourself online or in person means there’s a chance you’ll sell to someone who gets buyers remorse and wants his money back right away even though, legally, the car is his problem.
Also, there’s a chance they encounter an issue with the car, of no fault of your own, and demand you compensate them. For example, them redlining the car on the drive home and blowing the engine.
Selling your car to Carvana means once the car drives off and paperwork is signed, it’s no longer your problem. Any problems the new owner has are not your responsibility.
And, if for some reasons you get seller’s remorse and want your car back, Carvana holds your car for seven days so you can get your car back for that very reason.
Try doing that with a private sale.
8. Non-negotiable “instant” offer
What Carvana offers you, guaranteed for seven days, you can take to the bank.
Selling to a private seller, they might claim to have cash in hand but show up empty-handed, or worse, they’ll renege on their offer after showing up in a “bait-and-switch” tactic.
You can’t haggle with Carvana, but at the moment, referring to reason #1, the offer you get is likely very good.
9. Since 2013
Carvana has been buying and selling cars for over seven years, an eternity for startups. Since 2013, Carvana gained two other startups; Calypso and CARS360, further augmenting their operations.
As an established startup in the online used car retail space (read “not fly by night”) a satisfactory customer experience is in their best interest.
10. Customer service
Carvana wants your car so they’re going to do everything they can to make your sale as easy as possible, and that means being there for you in every step of the car sale process.
Selling your car privately means you have to deal with all e-mails, texts, and calls. You don’t have to play secretary selling to Carvana.
According to Carvana,
We have live phone and chat support 7 days a week from 8 AM to 9 PM EST.
So, if you have a car collecting dust, 1992 or newer, now’s the time to sell it. And what easier way than using Carvana.