Carvana, the chain of used car dealerships that distribute vehicles through giant vending machines powered by questionable loans and pure economic hopium, isn’t having the best month. We’ve reported on the lawsuits and slumping stock price, but a Bloomberg piece from yesterday about the company’s creditors teaming up ahead of a potential debt restructuring deal has led the stock to crater. The company may not being going bankrupt tomorrow, but the wheels appear to be coming off the wagon. And if the wheels are off the deals are on, folks! Let’s jump into Carvana’s listings to see what cars we should stalk in the event they have to off-load inventory.
For all its many woes (there’s a good Reddit thread where someone claiming to be an ex-employee details rampant theft and waste at the company’s stores, though it’s not possible to verify those claims), Carvana has a great search feature. Taking advantage of the dearth of used and new cars due to the pandemic/supply chain, Carvana made offers for cars that seemed crazy and then turned around and sold/financed those to their customers. They still have a lot of cars for sale!
It’s quite possible Carvana doesn’t lower its prices even if it goes into bankruptcy, as used cars are still valuable. It’s also possible that Carvana goes into a tailspin and the used car market suddenly craters. It’s always good to be prepared.
Here are a couple interesting cars my colleagues and I found:
$63,990 BMW M2 Manual: Matt Hardigree
Someone bought an M2 last year and then got rid of it quickly. I like to think the owner had fun with it, used it as their second car, and then dumped it when they realized that Carvana would pay them more than what they paid for the car and is just counting the days until they can buy it back for pennies on the dollar.
I’m not sure what else you need to know about the car other than it’s got a six-speed manual transmission and a hair under 12,000 miles on it. This is the last car before the 2023 BMW M2‘s redesign if you’re not a fan. A new M2 starts at $62,200 and Carvana is pricing this 2021 model at $63,990. That’s an awful price! An M2 Competition with lower miles sold on BaT for $59,000 two weeks ago.
A completely hypothetical fire sale at $50,000? That might be a good deal!
$21,590 Chevy Silverado 1500 Regular Cab: Matt Hardigree
I love an honest work truck and a late GMT900 Chevy Silverado in red with a black front bumper seems like a good way to get one. This particular 2013 truck has the 4.3-liter V6 and is RWD. There aren’t a lot of details or options, but the 8-foot fleetside bed matched with the short cab is an ideal combination for someone who needs a truck for truck things. The CarFax shows it was a personal vehicle and not a fleet truck, so that’s also nice. Did I mention it’s red?
At $21,590 with just 61,673 miles it’s not even that unreasonable of a price. In a world where Carvana tanks the used truck market I think this is a decent buy if it comes down to $15,000 because of the lower miles. A similar spec’d one in Delaware is going for $12,495, but that’s with 177k miles on the clock.
$30,990 BMW i3 REx: Thomas Hundal
Carvana seems to hold a disproportionate number of i3s in inventory, perhaps as some kind of national strategic reserve. Should the retailer go tits-up and all of these i3s go for cheap, it could tank the national average asking price, making BMW’s carbon-fiber wonder a much better deal. Plus, the 2019 i3 is arguably the pick of the bunch. It got the largest battery BMW ever fitted to this model, a whopping 42.2 kWh offering 126 miles of all-electric range. That doesn’t sound like a whole lot, but it’s plenty for urban use and there’s always the little gasoline-powered range extender to keep things moving on long trips.
As for this particular i3, it doesn’t feature the most imaginative color combination, but the model year is right and that’s good enough for me. Plus, it has a clean CarFax with one previous owner in Arizona, and should still have plenty of life remaining on the high-voltage component warranty. This 2019 model is a bit expensive at $31,590, but if it gets below the $30,000 mark, it should offer great plug-in motoring at a reasonable price. – TH
$26,590 Porsche Boxster: Patrick George
I’ve seen far worse used Porsches than this manual, base, 2009 Boxster, which at 78,000 miles has definitely been driven but not that much. If it goes any cheaper I’d be throwing my Mazda 3 hatch on Craigslist just to test the waters. And I’d tell my wife the Boxster is equally practical, on account of the frunk. If she asks, tell her I’m totally right. I need you to help me seal the deal on this one. Are you gonna be cool, or not? – PG
Screw This: David Tracy
What am I even doing in this article? There’s not a single sub-$10,000 machine on this list!
Here’s what I’m going to do. I’m going to go to Carvana’s site, filter by transmission, select “manual” and keep the price sub-$10,000. Let’s see what I find.
Wow. Just look at those results above. Who the hell is going to drop 10 large on a 100,000 mile 13 year-old Cobalt? There’s no way in hell “Purchase in Progress” is actually real, right?
A 90,000 mile Caliber for 10 large? An Aveo? A Kia Spectra? When did 10 grand become worth three grand? I’m out of here. But if there’s a huge 90 percent off sale, then maybe I’ll buy that Cobalt for a friend. I like those Ecotec 2.2s bolted to Getrag five-speeds.
Your turn! Show us what you can find on Carvana’s site, and how big the firesale would have to be for you to actually buy those cars.
I might see about one of the somehow 3 pages of Hyundai Santa Cruz at the right price. Though I cannot imagine why there are so many of them there.
I know this is just a fun exercise, but are there really ever great prices from these going out of business sales?
Retail stores rarely seem to have great prices. A Bed Bath and Beyond near me closed a couple months back, they had a Miele vacuum that was “discounted” to a price that was $50 more expensive than any online seller I saw on a quick Google.
When Hertz went on its supposed fire sale, I don’t remember anything really coming out of that.
Maybe if you are a car dealer with an auction pass you’ll see some stuff come across the block you’ll buy for your own inventory, but retail sales? I doubt it.
I’m going to be visiting the LA area this weekend and I am looking for a car. The only problem is that I am completely broke. I was thinking of getting a car from Carvana since they’re so cheap but what should I do if Carvana goes bankrupt before the purchase?
https://cashcashcars.com/areas-served/junk-car-removals-los-angeles-ca/
As the owner of a Silverado Six, let me tell you how much you don’t want a Silverado Six. It’s bog slow when empty, and with a ton of steel in the bed acceleration is strictly theoretical. Fuel economy is no better than a small Eight, and with a load, the Six probably gets worse mpg than an Eight.
But every 100,000 miles, you can save money by buying 2 fewer spark plugs!
TBH, Carvana has enough trouble delivering titles for cars purchased now; not sure I’d want to rely on that after they run completely out of money.
Please this can’t be real; people aren’t actually paying those prices for Cobalts, Spectras, Calibers, and Aveos are they? Surely not…
I found a blue ’19 Ford Flex Ecoboost for $30k. Let’s say we make that $20k.
https://www.carvana.com/vehicle/2535972
2015 Tesla Model S 85D for $44K:
https://www.carvana.com/vehicle/2529087#vehicle-details
2022 Hyundai Ioniq 5 (with 303 miles of range) for $48K
https://www.carvana.com/vehicle/2583371#vehicle-details
2022 Nissan Leaf S Plus (226 miles of range) for $33K
https://www.carvana.com/vehicle/2485423#vehicle-details
2018 Chevy Bolt for $22K
https://www.carvana.com/vehicle/1907877
2015 Honda Fit (with the manual transmission) for $16K
https://www.carvana.com/vehicle/2590678
2022 Mitsubishi Mirage with the manual and only 8129 miles for $19K
https://www.carvana.com/vehicle/2571680
That 2010 Aveo in David’s picture is worth $4,500 on a GOOD day; because that’s what my insurance company paid me for totaling MY 2010 with 127,000 miles on it when a deer tried to commit suicide by automobile. And some of the emissions and cooling system parts for the 2009-2011 cars are CRIMINALLY expensive! ($250 for an oxygen sensor, or $360 for the thermostat assembly, when the SAME PHYSICAL PART for a Sonic or Cruze is HALF of that!)
Pontiac Solstice, Saturn Sky, Fiat 124
Under 7500 usd
If I wanted to go EV perhaps a 2022 Polestar 2 Dual Motor with 3700 miles.
The best thing to buy is going to be 1. the ACV auction business and 2. their real estate.
I bet the 2019 i3 Rex I sold to them for $35000 is still for sale. Loved that car but it wasn’t as good for even 3hr road trips as I had hoped.
Well, let’s see… if I filter by “manual,” but with no price limit, I get… ugh. Really? OK, fine. Hey, there’s a nice Nissan Frontier… but it’s white. Bleah. Orange Camaro? Nice, but not $22k nice. Maybe for $11k. Hmm. Subarus… Versas… other assorted crap… Oh look, another white Frontier. Mustang GT? Eh. Fiesta ST? Now that’s interesting, but again, for maybe half the price. Also, it’s gray. Yeah, David’s right. Screw this.
I sold my car to Carvana last month. They give me way too much money and barely inspected the thing. I do not find their impending financial collapse at all surprising.
And here I am thinking I paid too much last Summer for a 2010 RCLB 2wd Tundra SR5 5.7l at $15k Canuckistan Copeks. It had 32000 miles. It’s about five times as much truck (to do truck things) than the Silverado up there…
I’ve been known to occasionally make poor judgement calls and I’m going to go ahead and do that right now by picking this 2020 Jaguar XF S.
https://www.carvana.com/vehicle/2592951
Although, I’m still not sure if Carvana is legally allowed to sell a car to me anyway since every time I click on a listing, it’s begging me to sign a petition to reinstate their dealer’s license in Michigan
I’d still prefer the Jag but this MKZ is probably my second choice since it’s got the 3.0. Yes, it’s just a fancy Fusion but it’s a fancy Fusion with 400 hp and 400 ft/lbs of torque. It’s a true sleeper that most people, even enthusiasts probably never even knew/forgot that it existed
https://www.carvana.com/vehicle/1844083
Oh man, maybe I can get my Rubicon Diesel back that Carvana paid WAY too much for!
Well, there is a Cayman for sale, but it has had a repair done to the rear bumper. So I typed in Yugo, but all it brought up were Yukons, so I opted for the BMW 1 series for 20 grand, if I had loose change in my pocket and everything is on fire. And it is equipped with a manual.
Edit: I filtered for manual, but Carvana thinks a manu-matic is one. Nevermind, I’d rather kick rocks.
2014 Hyundai Equus Ultimate with 60,000 miles for $24,990. Sure it’s an S-class knock off but, so what? 429hp leather and suede everything and cutting edge technology (for 2014). I’m a cheap ass, so I’m not looking to drop 50K+ on a used car. I’d like to hear of another car that offers that much luxury and power for the price that isn’t ancient or a maintenance nightmare.
https://www.carvana.com/vehicle/2554469
https://www.carvana.com/vehicle/2457331
2018 Regal TourX, 61k, sitting at $23,990. Get that baby down to $15k and, hell, I’ll write ’em a check lol
Range Rover surely.
Sorry, wrong site.
Right site, but wrong article. I believe this is the other window you had open…
https://www.theautopian.com/these-are-the-20-most-durable-cars-on-the-road-according-to-a-new-study/
Oh, was referring to a long standing carvana Range Rover drama from one of the writers on the old site. A few years back though I think.
They have a few Suzuki SX4s, a most select and correct choice for happy people. I’ve owned one and they are a damn hoot. Plus, the AWD has a 50/50 lockout feature. Go ahead, Google up the pictures of folks overseas who’ve lifted them – it’s awesome.
David, this is your next mission. Ditch the Tracker and get the real offroader, an SX4. It has awesome approach and departure angles, a great AWD/4×4 system – it’s a mountain goat!
I’m pro-SX4! They seem like great little cars. But it won’t be nearly as good off-road as the Tracker.
I sold my SX4 a few years back, but otherwise I’d step up to that challenge. 😉 In the spirit of continued learning on my part, do you have any particular reason why you’d say the Tracker is better off-road? If it’s just ground clearance, there’s always lift blocks or kits!
How was your SX4? I really wanted one 3 years back, but I only had $3k to spend and couldn’t find a manual one for that worth having anywhere near me. And, how did it do on fire roads and such? They seem like a pretty direct replacement for my old 80s Subaru wagons-which weren’t ready for the Rubicon Trail, but did surprisingly well in the rough(ish).
Hope you catch this, I missed this reply last night. It’s got decent ground clearance, but there’s a surprising amount of aftermarket solutions too. Some folks will just put on taller tires, but bear in mind it throws off your speedo, obviously. The part time AWD works as well as a Subaru IMO, having owned both, and with the pizza cutters it wears, there’s no problems with snow or mud within reason.
If you get stuck in a deeper snow drift, the 50/50 is really nice for breaking free, especially with the control you get from the manual transmission. In short, they handle nicely, are pretty light and tossable, have very good all-condition capability, and get decent (not stellar) mileage. So it’s pretty much a spiritual successor for your 80s Subaru wagon. The only real complaints I had about the thing was the lack of real sound deadening and small fuel tank, which was only 11.2 gallons as I recall. Other than that, couldn’t recommend it enough, especially with the optional subwoofer.
I think one of those vending towers would be cool
Right? Build a little shack on the top to live in, and display my shitboxes in the tower. Every day I’d be all, “What to drive today…Ah: 2CV—slot 10…’bink’…here we go!”
Yes! I’d want to live on top too, like some character in a action-adventure cartoon.
What do we have to do to put you in a vending tower today?
Carvana seems to have bought up all the Fiat 500-E’s, so I would be looking for those if they can get back below 20K
done: https://www.carvana.com/vehicle/2542171
I was about to buy a 2016 500-E in 2019 for $5,600. Ended up passing. Looking back that would have been a great buy.