Carvana: A Father-Son Accounting Grift For The Ages

[500grains]

Short summary: While the used car market contracts, prices drop and interest rates make sales difficult, Carvana reports triple the per-car profit of its competitors through sales ABOVE MARKET PRICE to "insider-controlled entities".

They are selling the cars to themselves.

For their real car sales, they are selling with subprime loans that have huge default rates.

This is a classic pump and dump scheme.

It is time to short-sell Carvana stock.

https://hindenburgresearch.com/carvana/

[Sanders]

They gave my father-in-law top dollar for his Camaro, sight unseen, and picked it up from his house. Not that it makes any difference in the grand scheme of things.

[GimpyPaw]

I got a quote from them for my wife's minivan, then took the quote with me to the dealership to by a new mini-van. Dropped it on the sales manager when we were negotiating price. Got a few extra grand on my trade-in with that move.

[500grains]

I got a quote from them for my wife's minivan, then took the quote with me to the dealership to by a new mini-van. Dropped it on the sales manager when we were negotiating price. Got a few extra grand on my trade-in with that move.

I asked Carvana to give me an offer on my Tundra. They came in $8000 less than Toyota offered me.

[Klauss]

We got more for our POS terrain than what it was worth.

I'm sure whoever got it from them is pissed.

[aviator]

There is a thing called Blue Book Value.....anything above is a waste, anything below it's a bargain...unless you get kickbacks on some other ways.