Anybody sold their T1 to Carvana?

jlong1984 · August 3, 2020

Their online offer is $2K more than I paid for my truck brand new over a year ago. Legit or not?

CWRKR · August 3, 2020

I sold a vehicle to them and their offer was better than any local dealer. Nice clean, easy transaction. Sure beats dealing with the dealership. I definitely recommend them.

btj_z71 · August 3, 2020

49 minutes ago, jlong1984 said:

Their online offer is $2K more than I paid for my truck brand new over a year ago. Legit or not?

Yes, go for it. Get yourself a 2020 with the 3.0L duramax or hold on to the cash for a another month after the sale and put in an order for a 2021.

Its rare for folks to have equity in their vehicles and what you have is a rare opportunity. Let us know how it goes!

jlong1984 · August 4, 2020

That's what I'd want, an AT4 with the Babymax. Just have to find a dealer who's willing to deal.

OnTheReel · August 4, 2020

People seem to be getting more money out of givemethevin.com. Their offer to me was 3k higher than Carvana. Not selling but the offers are very tempting if there was something worth upgrading to, or anything in stock at all even. But I guess that’s why the offers are so high.

I’ve seen lots of people selling to both of these companies on the Facebook group.

hotrodz37 · August 4, 2020

Both of my offers were for more than I paid for my truck back in November. That being said, to find a suitable replacement is going to be hard given the fact dealers aren’t discounting them as much now. It’s all relative I guess.

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diyer2 · August 4, 2020

I looked today for fun at used trucks. Replacing my truck today with close to the same mileage and trim package would cost $6 - 8 K more than I paid for a 3 year old truck.

newdude · August 4, 2020

Might be legit. Demand for used cars on lots is high right now as is new inventory. Dealers can't get cars, and some of them are paying good $$ for trades.

AlaskaErik · August 5, 2020

8 hours ago, OnTheReel said:

People seem to be getting more money out of givemethevin.com. Their offer to me was 3k higher than Carvana. Not selling but the offers are very tempting if there was something worth upgrading to, or anything in stock at all even. But I guess that’s why the offers are so high.

I’ve seen lots of people selling to both of these companies on the Facebook group.

I tried them once and they low balled me. Then they hounded me incessantly. I would never use givemethevin.

Wiggums · August 5, 2020

CarMax gave me a better deal the last time.

I am not trading in my Silverado right now.. inventory is low and I am not seeing good deals on trucks anymore.

beerguy214 · August 5, 2020

My lease is up pretty soon I guess I should see about a trade in instead of turning it in lol.The local dealer has a 18 lt z71 double cab with 30k on it advertised at 36 k.lol.same as mine a chance to get some money lol.

beerguy214 · August 5, 2020

Only problem is I went by my local Chevy dealer and 90 percent of their truck had the 2.7 turbo.There is no way I would get a full size truck with that 4 banger lol.

redwngr · August 5, 2020

If planning to get another vehicle, be sure to figure in the tax treatment in your state/province.

In Ontario we pay a combined federal/provincial sales tax on the 'difference' in the price of the vehicles.

And it's 13%.

So, trade a $50K vehicle on a $60K and pay tax on $10k -- so $10,000 x 13% = $1300.

Total deal $11,300 to change vehicles ($10,000 + $1300)

Sell the $50k vehicle to someone else for $55k, then buy the $60k one from dealer.

Pay tax on $60k -- $60,000 x 13% = $7800

Total deal $12,800 ($5000 + $7800)

In this case, it's better to trade to dealer.

YMMV

Obviously depends on both the tax treatment where the transaction occurs and differences in the trade-in value vs sell-it-somewhere else numbers.

econometrics · August 5, 2020

Just for kicks, I got a quote from Carvana for my 2019 RST yesterday. They quoted me $1000 more than what I paid for it new in March 2019. I have 11,500 miles on her.

After paying cash with no trade for my RST, I don't think I want to take the stupid sales tax hit again. So whenever I do want something new, I'll just stick with the trade at the dealer... unless their offer makes paying the sales tax from a direct sale worth it in savings.

I think the only thing tempting me to trade my RST right now would be to wait until early 2021 and trade it for a very lightly used Z71 2021 Tahoe. The appeal of the air ride, IRS is really high to me. Plus, it would have features I don't have on the RST. I think, after owning a truck for over 10 years now, a full size SUV would actually suit me better.

Then again... trucks are so uniquely tied to our identity as (Texas) males. It would be hard to drive anything else. If the Z71 Tahoe came with the 6.2L, I would be all over it already.

Edited August 5, 2020 by econometrics

AlaskaErik · August 5, 2020

1 hour ago, redwngr said:

If planning to get another vehicle, be sure to figure in the tax treatment in your state/province.

In Ontario we pay a combined federal/provincial sales tax on the 'difference' in the price of the vehicles.

And it's 13%.

So, trade a $50K vehicle on a $60K and pay tax on $10k -- so $10,000 x 13% = $1300.

Total deal $11,300 to change vehicles ($10,000 + $1300)

Sell the $50k vehicle to someone else for $55k, then buy the $60k one from dealer.

Pay tax on $60k -- $60,000 x 13% = $7800

Total deal $12,800 ($5000 + $7800)

In this case, it's better to trade to dealer.

YMMV

Obviously depends on both the tax treatment where the transaction occurs and differences in the trade-in value vs sell-it-somewhere else numbers.

I bought a 2019 LTZ without a trade in last year and I avoided paying any sales tax by going to the big city 50 miles away. That saved me a whopping $12.50 in sales tax.