I looked at some cars at Carvana. I believe they made money off the financing as previously stated. They had a couple cars I was interested in at a reasonable price, but when I looked at the rate they wanted, it was too high.
Meanwhile-there are a small group of players that control the new car market in Salt Lake City that make buying a new car in this state is a miserable experience and you pay more.Interesting how that doesn't work.
In the late '70's, there was a Colonial Ford dealership in Salt Lake City. They had a beautiful new facility right in the heart of SLC. Huge inventory.
They advertised that they would beat the price on any new Ford. Their business model was that what they lost on profit for individual sales, they would make up in volume, by being the number 1 in sales for the region. And they sold a LOT of cars. But they still went bankrupt.
They were a huge example to other new car dealerships in the area, for many, many years. I suspect they may still be discussed in training and sales meetings to this day
Larry H. Miller?M
Meanwhile-there are a small group of players that control the new car market in Salt Lake City that buying a new car in this state is a miserable experience and you pay more.
You can't even take delivery of a new Tesla in Utah.
I have a few dealers in Idaho scoped out for my next new car dealer. Screw the dealers in Utah.
That's one!Larry H. Miller?
Young is the other big player in Northern Utah dealerships.Larry H. Miller?
Yeah, my car with 70k and 5 years old is supposedly worth 2k more than I paid new for it. Hopefully we get another 10 bajillion trillion in printed stimulus money so it's worth 15k more next year with 90k and 6 years old.What about the price? There are more used vehicles on the lots here than a year ago but with the INSANE prices there might as well be none. And they won't deal.
I thought Carvana's process was to make the transaction simple.....I bought a Fusion hybrid from Carvana yesterday. Longest buying process I’ve ever been involved in. Between Carvana and my insurance company I spent most of the day on my phone.
Carmax can offer more because they get to physically inspect your vehicle lowering their risk.carvana 21700, vroom 22800, webuyanycar 23400
CARMAX!
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That is what I paid new.. has 55500 miles on it. 4 years old this month.
Of course a new one is around 38k now.
Base FWD COMPASS is 30k ugh.