I got the same message
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Just sold to Vroom...
- Thread starter TxAg98
- Start date
JF19Longhorn
Ram Guru
Ran mine through two of them:
Vroom: $52,400
Carvana: $42,600
Why is there such a hugh difference between the two?
..if Vroom is legit, I'd be stupid to keep my truck.. I have to check, but I think I bought it for not too much more than that 16 months / 23k miles ago..
Vroom: $52,400
Carvana: $42,600
Why is there such a hugh difference between the two?
..if Vroom is legit, I'd be stupid to keep my truck.. I have to check, but I think I bought it for not too much more than that 16 months / 23k miles ago..
‘19ramlveryeha
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Mine is a ‘19 Laramie crew long bed orp bigger wheels bed liner cover steps and only offering 44. Are you guys asking for more?
Sent from my iPhone using Tapatalk
Last night I traded in my 2019 4X2 Limited with 44k miles and the dealer gave me $49,000. I picked up a 2021 4X4 limited sticker was $72 got it for $66k. I paid $52k for my 2019 exactly 3 years ago. Carmax was offering me 45600 and Vroom was $44k.
Trippi
Ram Guru
Same
OhioBigHorn
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My 2020 has 10,000 miles on it.
Carvana $36,000
Vromm $38,000
Really debating it.
Carvana $36,000
Vromm $38,000
Really debating it.
mikeru82
Legendary member
I gave in to the temptation last weekend. My 2020 Laramie had less than 10k miles. Bought it on Halloween in 2019 for just over $50k.
Vroom offer $52,700
Carvana offer $47,000
Dealer trade-in $50,000
Ended up taking the $50k trade-in offer to save $4,400 in sales tax on my new truck.
Vroom offer $52,700
Carvana offer $47,000
Dealer trade-in $50,000
Ended up taking the $50k trade-in offer to save $4,400 in sales tax on my new truck.
OldMarine
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that's weird, I did the online thing and got an offer withing maybe 30 seconds...says offer is good til May 13th.
mikeru82
Legendary member
For me it all came down to the fact that my Laramie was missing a few things I really wanted. MFT, 33 gallon fuel tank, surround view camera, power running boards, 12 inch uconnect. And I eventually wanted to upgrade to a Limited, but could have waited on that. I would have kept that truck if it would have had those things. If you are happy with the way your Limited is equipped and are happy with it, you might consider keeping it. Replacing it will be more difficult and possibly more expensive. The Limited I bought has all of those things I wanted, so I don't plan on replacing this truck for a long time.
mikeru82
Legendary member
Good luck with whichever you decide to do. It was a tough decision for me too, but more because of the price on the new Limited LOL. I'm happy with the deal I got though.
U
User_3336
Guest
If you thinking about getting something else by selling yours to Vroom or Carvana, consider the sales tax you are going to have to pay on another one....
and rebates suck right now.
and rebates suck right now.
OhioBigHorn
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Know what your saying no problems for mine either cold AC and optioned how I like. Leary of getting one that has been built during these crazy covid times too. Not sure it's worth the time.
mikeru82
Legendary member
Agreed. There's no reason to even look if you're happy with what you have. All it will do is tempt you
nburd
Well-Known Member
I did some checking today. Basically they are giving KBB trade in Value. I got an email from Enterprise Car sales and clicked to value my vehicle for Trade this PM. Up came KBB with nearly the exact value Vroom gave me, what I paid last year. I know the west coast uses KBB but New England uses NADA which is always less on appraisals. Still waiting for my e-contract and FED EX packet of paperwork. If it does not happen , I will not be disappointed or surprised though.
OldMarine
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what I'd like to know is who the hell is paying the even HIGHER amount that Vroom has to re-sell these for in order to make a profit? I mean, take my truck, I bought it used, with 19,000 on the clock, in 2020..it's a 2019 model limited with 28,800 miles now...I paid around $46K all in,(tax etc)...they want to give me $51,031!...I would think they have to get $53-$54K to make ANY profit after their costs...who the hell would pay $54K for a 2019 Limited? someone must! lol
AdamChandler
Ram Guru
It's worth some googling if you guys are interested but Vroom and Carvana are venture-backed. They're running like Facebook and Amazon. They can run operating at a loss for years backed by interest free venture backed 'loans' and focus on growth and economies of scale.
The problem with this model is it destroys the classic agency model of used cars. It's causing a huge hole in the traditional way that used cars would end up on lots via auctions and because they only need to make $500 profit on every car they sell because they're also offering HUGE in-house financing then selling those pools of financed vehicles off to traditional banks in lots, they can undercut the used car dealer or auction house by a few percent per vehicle sold but Carvana is moving 100,000 cars a quarter so $500 profit up front and $1500 in interest over the 5 year loan. They're making huge amount of money yet still operating at a loss thanks to their venture financing.
An expert used car salesperson uses the market, the people they talk to, the latest auction data & their gut to offer you a price for your truck then their only job is to sell that car for a profit in-house or at auction.
Vroom is using thousands of data points. Site traffic, searches, trends, KBB/NADA/Auctions and the update their figures every second on every car out there BUT, they're willing to get very little profit on each transaction which undercuts the guy / dealer down the street.
Amazon's model worked for customers, for delivery carriers and for merchants who chose to sell on Amazon but it created this black hole in the in the e-commerce market where if you weren't with Amazon, you were out of business.
the pandemic and global supply market and low interest rates have made this perfect storm for these national venture backed used car companies to completely black-hole their way into market dominance at the expense of the used car market as we know it.
https://ir.vroom.com/static-files/b283c754-994b-49e9-86d7-5a746dd57a9e
www.crunchbase.com
thegeneralist.substack.com
The problem with this model is it destroys the classic agency model of used cars. It's causing a huge hole in the traditional way that used cars would end up on lots via auctions and because they only need to make $500 profit on every car they sell because they're also offering HUGE in-house financing then selling those pools of financed vehicles off to traditional banks in lots, they can undercut the used car dealer or auction house by a few percent per vehicle sold but Carvana is moving 100,000 cars a quarter so $500 profit up front and $1500 in interest over the 5 year loan. They're making huge amount of money yet still operating at a loss thanks to their venture financing.
An expert used car salesperson uses the market, the people they talk to, the latest auction data & their gut to offer you a price for your truck then their only job is to sell that car for a profit in-house or at auction.
Vroom is using thousands of data points. Site traffic, searches, trends, KBB/NADA/Auctions and the update their figures every second on every car out there BUT, they're willing to get very little profit on each transaction which undercuts the guy / dealer down the street.
Amazon's model worked for customers, for delivery carriers and for merchants who chose to sell on Amazon but it created this black hole in the in the e-commerce market where if you weren't with Amazon, you were out of business.
the pandemic and global supply market and low interest rates have made this perfect storm for these national venture backed used car companies to completely black-hole their way into market dominance at the expense of the used car market as we know it.
https://ir.vroom.com/static-files/b283c754-994b-49e9-86d7-5a746dd57a9e
Vroom - Crunchbase Company Profile & Funding
Vroom is an innovative, end-to-end ecommerce platform designed to offer a better way to buy and sell used vehicles.
S-1 Club | Vroom hits the gas
The S-1 Club is a community for those that want to be in the know before the opening bell. Once a month, we break down a business prepping for its public bow, sharing our analysis and thoughts from the community. Then we follow up, to unpack what happened after the fact.
thegeneralist.substack.com
OldMarine
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Thank you Adam for that really good summary of how/what Vroom is doing. Now I see what's going on, they are willing to pay more because their business model is very different than a brick & mortar used car lot..very interiesting
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