As Carvana crashes, used car dealers, not buyers, stand to win big

Post by scarface74 » Mon, Dec 12, 2022, 3:06 AM UTC

slt2021 wrote: post #110

scarface74 wrote: post #80

Earlier quoted context omitted.

The problem is that like with OpenDoor, asymmetrical information favors the seller. If I know I can get a better deal, I’m not going to use Carvana or OpenDoor. If I know there is something wrong with my car/house I’m going with Carvana/OpenDoor.

aka "Lemon markets theory" by George Akerlof, which won Nobel Prize in Economics in 2001 https://en.wikipedia.org/wiki/The_Market_for_Lemons

Post by bombcar » Mon, Dec 12, 2022, 3:07 AM UTC

ethbr0 wrote: post #104

ctime wrote: post #78

Earlier quoted context omitted.

Most Tacomas seem to sell with a 5’ bed these days, but otherwise yes, trucks are larger than ever. Personally, I found it easier to move 2x4s or anything longer than approx. 5 feet (fishing poles) in my Prius because the Tacoma I had, had such a short bed. Otherwise I was sticking crap through the Tacoma window which was super jank. Oh the irony.

I had an access cab w/ the standard bed (6'). Ended up putting long things in the bed, then up over the cab, then strapped down. IMHO, with a Taco, you really need to pick an option. Option 1: I carry people more than things, in the city. Double cab + 5ft bed (aka the common one) Option 2: I carry things more than people, in the city. Access cab + 6ft bed Option 3: I carry things and people, and am willing to access…

Post by projektfu » Mon, Dec 12, 2022, 3:15 AM UTC

cameronh90 wrote: post #109

Booktrope wrote: post #62

Earlier quoted context omitted.

Yeah, bankruptcy basically does not let anyone off the hook who owes the bankrupt company or person a debt. But collection is overseen by a court which definitely can mean that efforts to collect debt owed to the bankrupt party can intensify and are unlikely to end until money is collected.

Over a decade ago, when I first left home, I bought a bunch of home appliances on finance. They never collected any payments, and a few years later, they went bankrupt. Nobody ever came after me and nothing ever appeared on my credit report. It doesn't happen often, but it does happen.

Post by projektfu » Mon, Dec 12, 2022, 3:18 AM UTC

TrueSlacker0 wrote: post #69

version_five wrote: post #46

Earlier quoted context omitted.

A lot of people want a pickup but don't need a full size truck. Tacoma fills this niche - probably more people that have big pickups would have all their needs met with a tacoma sized one. Though it feels like all trucks have scaled up massively over the past 20 years and a 2020 tacoma is probably as big as a 2000 F150.

I have an old (2006) taco at the moment and have had it over a decade now. It's been perfect. I don't want a larger tundra, I have no need for it. In fact I wish Toyota made a smaller truck. I still need all 4 doors and 5 seats but less width and less length. Perhaps the width of a rav 4, and a even shorter 4ft bed (instead of 5 on taco and 6 on tundra). Essentially like the very old 1990s Ford rangers were, but made…

Post by jsemrau » Mon, Dec 12, 2022, 3:22 AM UTC

grumple wrote: post #27

jedberg wrote: post #25

I'm not surprised. I've heard multiple stories from multiple people about Carvana just forgot to collect money from them. They bought a used car, the car showed up, and Carvana just never took the money from them beyond the deposit. This is not only bad for Carvana and their cash flow, but bad for the buyer too, who just has to keep the money sitting there forever in case Carvana fixes the glitch and tries to transfe…

I'd expect debt instruments to be sold to debtors. Don't count on this.