Anybody sold their T1 to Carvana?

JR09country · 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.

Hit the nail on the head. Id take a z71 tahoe with the 3.0 duramax right now if it was available. The value on my truck has gone up by 3 to 4k and id trade it in in a heart beat.

Sent from my ONEPLUS A6013 using Tapatalk

Dunn · August 5, 2020

6 hours 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.

california of course has no tax benefit for trades

carvana and carmax both tried to lowball me and same thing kept hounding me after........

wtfandy · August 6, 2020

I've been looking at T1s, because I sold my 2018 K2 and also got more than my purchase price. Used market is crazy. I would highly recommend sending to all the online ones like Carvana, Vroom, Truecar and givemethevin. There was a $3k spread between them.

I got 36K for mine and my OTD price was $33.8K (MSRP 51K) 2 years ago. Pocketed $10K from equity.

There are likely to be supply shocks over the short term and interest rates should stay at the floor, so figured it would be wise to sell while the market is hot. The 2022MY revisions look like they will catch up to competitors.

Hoopster3 · August 8, 2020

I entered everything into Carvana just to see what the offer would be. I ended up getting a message that my vehicle had "beat their algorithm" and I'd be contacted by someone in 24 hours...which was about a week ago now.

Philipgonzales3 · August 8, 2020

On 8/3/2020 at 5:18 PM, jlong1984 said:

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

From what I've heard it's legit. Givemethevin will usually offer to beat their price. Givemethevin came out with a lower quote by like 3K and then came back with one that beat carvana by $200 or so when I mentioned the Carvana quote.

Currently selling my 2019 LT Z71 Texas edition for a little over 40K. Truck was worth 39.5K 14 months and 12K miles ago. Dealers wouldn't match, would have been nice to save on taxes but no biggie.

Had to search all over the country to find the exact truck I wanted. Got a little over 9K off. Must have contacted 10 or more dealers and some would budge and some wouldn't. Ended up with a 6.2L 2020 RZT All star, Z71, leather, safety, sunroof, convinence I & II in cajun tincoat red. There are trucks out there. Just have to out in the work. Will be flying and driving back 9 hours but it will be worth it for me.

Doolin-Dalton · August 8, 2020

On 8/4/2020 at 11:59 AM, 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.

can you post a link to the FB group, haven't seen it...interested.

Philipgonzales3 · August 8, 2020

38 minutes ago, Doolin-Dalton said:

can you post a link to the FB group, haven't seen it...interested.

There are actually 3 I'm in. Posted in order of preference.

https://www.facebook.com/groups/AllNewSilveradoSierra/?ref=share

https://www.facebook.com/groups/1396549420635604/?ref=share

https://www.facebook.com/groups/1009674959055889/?ref=share

OnTheReel · August 8, 2020

1 hour ago, Doolin-Dalton said:

can you post a link to the FB group, haven't seen it...interested.

https://m.facebook.com/groups/1940597442867191

Thats the one I’m in. Every other post is someone selling their truck to Carvana.

batman900 · August 8, 2020

4 hours ago, Hoopster3 said:

I entered everything into Carvana just to see what the offer would be. I ended up getting a message that my vehicle had "beat their algorithm" and I'd be contacted by someone in 24 hours...which was about a week ago now.

Lol same thing here, I was only doing it for fun but it's been 3 days.

Chevyguy273 · August 9, 2020

9 hours ago, batman900 said:

Lol same thing here, I was only doing it for fun but it's been 3 days.

Same here. I was bored and I saw this post. And nobody has contacted me either. It’s been 5 days.

Wiggums · August 9, 2020

23 hours ago, Hoopster3 said:

I entered everything into Carvana just to see what the offer would be. I ended up getting a message that my vehicle had "beat their algorithm" and I'd be contacted by someone in 24 hours...which was about a week ago now.

Same here.. I guess they don't know what an RST 4x4 with a 5.3 is.

Silverado4x4 · August 9, 2020

Be very careful with this company check it out https://www.consumeraffairs.com/automotive/carvana.html?#sort=top_reviews&filter=none

Wiggums · August 10, 2020

23 hours ago, Silverado4x4 said:

Be very careful with this company check it out https://www.consumeraffairs.com/automotive/carvana.html?#sort=top_reviews&filter=none

I don't buy used.. and there is no reason to when the Silverado have fantastic re-sale value.

All used car dealers have bad reviews. 75% of dissatisfied customers will post a review while 75% of satisfied customers will not bother.

Grain of salt.