Used GTI prices are nearly as high as those for new MK7.5s

[cb1111]

Selling a brand new car quickly is when the price takes a hit because just titling it once lowers the value.

Not these days. I bought my Alltrack new in January and my wife's (almost new) in February. Just for grins, I requested a quote from Carvana about a month ago on both cars. I could make an easy grand on each as the value has gone up by far more than the sales tax.

 

[cb1111]

I have a $12,900 offer from Carvana, $13,500 offer from Vroom, which seems way out of line compared to what other people are getting. I tried talking to Carvana to see if they would offer me a better value after the hell they put me through, but they won't budge. Private sale would be tough because I have a loan on it.



I'm just grasping at straws trying to figure out why my offers are so low. It's probably not a thing.



I paid $17,900 for it. But, I'm seeing same year/packages with more mileage going for $20k right now.



I'm third owner. Second owner bought it CPO in 2019. Regular maintenance records on CarFax. Clean title, no CELs, it did have minor cosmetic damage which is now fully repaired. The car looks brand new inside and out. Aside from minor road rash on bottom of front bumper. These appraisals are all from online dealers so far and they don't examine the car first. I'll probably try local dealers next week.

The market is clearly softening - but - that seems a bit low.

Have you pulled the CARFAX on your car? Does it show anything different from the CARFAX from when you bought the car?

Try WeBuyAnycar.com and drive it by CARMAX. Make sure the car is spotless when you go by CARMAX and dress nicely.

What would you buy instead? A dealer might give you a good trade-in value or might just buy it outright. Go by your local VW dealer and see what their inventory is like. If it is low, then ask them if they want to buy it. Look at dealers in the 'burbs.

CARVANA will lowball you because they sold you the car - they know what you paid and what the problems are. BTW, what are the problems?

Oh, getting vaccinated will increase the value of your car by at least five grand. I read that on the internet, so it must be true.

This is still the best time to sell a car although I suspect that will end soon - it is already slowing.

 

[jimlloyd40]

Not these days. I bought my Alltrack new in January and my wife's (almost new) in February. Just for grins, I requested a quote from Carvana about a month ago on both cars. I could make an easy grand on each as the value has gone up by far more than the sales tax.

These aren't normal circumstances. Otherwise historically what I said is true.

 

[cb1111]

These aren't normal circumstances. Otherwise historically what I said is true.

Sure, but we aren't historical here - we're talking about Unreal1 wanting to sell his car now.

 

[jimlloyd40]

Sure, but we aren't historical here - we're talking about Unreal1 wanting to sell his car now.

Correct and that's why I suggested a private sale which always brings the most money anyway.
Especially when Carvana etc aren't offering him a more reasonable price based on current market conditions. Or there's something about the car that we're not aware of.

 

[Unreal1]

The market is clearly softening - but - that seems a bit low.

Have you pulled the CARFAX on your car? Does it show anything different from the CARFAX from when you bought the car?

Try WeBuyAnycar.com and drive it by CARMAX. Make sure the car is spotless when you go by CARMAX and dress nicely.

What would you buy instead? A dealer might give you a good trade-in value or might just buy it outright. Go by your local VW dealer and see what their inventory is like. If it is low, then ask them if they want to buy it. Look at dealers in the 'burbs.

CARVANA will lowball you because they sold you the car - they know what you paid and what the problems are. BTW, what are the problems?

Oh, getting vaccinated will increase the value of your car by at least five grand. I read that on the internet, so it must be true.

This is still the best time to sell a car although I suspect that will end soon - it is already slowing.

$10,800 offer from webuyanycar. I'll take all the vaccines to improve these valuations.

Clean CarFax with regular oil changes and maintenance, nothing new on it. Assuming it would update the report I ran back at the end of June if there was anything new. It shows as still active for another 5 days. But I don't know if that's just the time I'm able to view an old report, or if it's keeping it updated as well.

Most likely I would swap for a 135i or 128i. The problem is my car was in the body shop for almost 2 months straight just to pull a dent and replace missing trim on the front bumper. That caused me to miss out on the mechanical warranty. I should have taken care of that first, but had no idea the cosmetic work was going to drag on for as long as it did.

Now, I'm getting misfires in cyl 1 and 3. Pulled the coils and plugs to replace them the other day and found oil on the plugs and pooled in the well for both cylinders that were misfiring. I've barely been able to drive the car since I've bought it, and seems like more work is on the way.

 

[cb1111]

$10,800 offer from webuyanycar. I'll take all the vaccines to improve these valuations.

Clean CarFax with regular oil changes and maintenance, nothing new on it. Assuming it would update the report I ran back at the end of June if there was anything new. It shows as still active for another 5 days. But I don't know if that's just the time I'm able to view an old report, or if it's keeping it updated as well.

Most likely I would swap for a 135i or 128i. The problem is my car was in the body shop for almost 2 months straight just to pull a dent and replace missing trim on the front bumper. That caused me to miss out on the mechanical warranty. I should have taken care of that first, but had no idea the cosmetic work was going to drag on for as long as it did.

Now, I'm getting misfires in cyl 1 and 3. Pulled the coils and plugs to replace them the other day and found oil on the plugs and pooled in the well for both cylinders that were misfiring. I've barely been able to drive the car since I've bought it, and seems like more work is on the way.

Webuyanycar always lowballs you first but oftem will beat other offers if you call them. I think your Vroom offer was the highest, so I'd call them with that and see what they say.

I gather that the dent was post purchase and if the body shop reports it, then it may show up on CARFAX at some point.

The GTI is a great car and, IMO, better as a daily driver that the 1 series - and certainly cheaper on maintenance.

Do you have a trusted indy that can give you a quote on determining and repairing what is wrong? At that point you can decide if you should fix it or sell it.

Used cars are worth more right now than they will ever be. If you can sell now and wait a few months to buy, then you might actually make money. I'm no economist, but I suspect that there will be a huge price crash shortly and values will be back to the "beginning of the pandemic" region.

 

[jimlloyd40]

$10,800 offer from webuyanycar. I'll take all the vaccines to improve these valuations.

Clean CarFax with regular oil changes and maintenance, nothing new on it. Assuming it would update the report I ran back at the end of June if there was anything new. It shows as still active for another 5 days. But I don't know if that's just the time I'm able to view an old report, or if it's keeping it updated as well.

Most likely I would swap for a 135i or 128i. The problem is my car was in the body shop for almost 2 months straight just to pull a dent and replace missing trim on the front bumper. That caused me to miss out on the mechanical warranty. I should have taken care of that first, but had no idea the cosmetic work was going to drag on for as long as it did.

Now, I'm getting misfires in cyl 1 and 3. Pulled the coils and plugs to replace them the other day and found oil on the plugs and pooled in the well for both cylinders that were misfiring. I've barely been able to drive the car since I've bought it, and seems like more work is on the way.

That sounds rather ominous like potentially an engine rebuild.

 

[jimlloyd40]

Webuyanycar always lowballs you first but oftem will beat other offers if you call them. I think your Vroom offer was the highest, so I'd call them with that and see what they say.

I gather that the dent was post purchase and if the body shop reports it, then it may show up on CARFAX at some point.

The GTI is a great car and, IMO, better as a daily driver that the 1 series - and certainly cheaper on maintenance.

Do you have a trusted indy that can give you a quote on determining and repairing what is wrong? At that point you can decide if you should fix it or sell it.

Used cars are worth more right now than they will ever be. If you can sell now and wait a few months to buy, then you might actually make money. I'm no economist, but I suspect that there will be a huge price crash shortly and values will be back to the "beginning of the pandemic" region.

Used car prices are starting to slide down now.


https://arizonarepublic-az-app.newsmemory.com/?publink=03282ab29_1345e49

 

[cb1111]

Used car prices are starting to slide down now.


https://arizonarepublic-az-app.newsmemory.com/?publink=03282ab29_1345e49

Yep

 

[spaceworm]

So Carvana offers $18k for a base 2016 with 60k miles. An almost fully loaded 2015 with 69k miles only gets $12k? I don't get it.

This was my car. Actually 18,5k but that was back in June. Look at the 2-8yr old wholesale auction prices and you will see a big nosedive accelerating in the last couple of weeks. That is a definitive trend for sure, one that still hasn't translated into retail prices, however the online dealers have started to adjust their offers to cover their behinds. My car I would say was worth 12,5 -13k in a normal market, but decided to jump before the used car market began its correction. Two weeks ago I reappraised it just for fun and the offer I got down almost 3k from my original offer.

 

[JC_451]

This was my car. Actually 18,5k but that was back in June. Look at the 2-8yr old wholesale auction prices and you will see a big nosedive accelerating in the last couple of weeks. That is a definitive trend for sure, one that still hasn't translated into retail prices, however the online dealers have started to adjust their offers to cover their behinds. My car I would say was worth 12,5 -13k in a normal market, but decided to jump before the used car market began its correction. Two weeks ago I reappraised it just for fun and the offer I got down almost 3k from my original offer.

View attachment 220886

Great information man.

 

[spaceworm]

I've never heard of selling a car quickly lowering it's value, especially when looking at selling/trading in to a dealer. A private party might be skeptical about "Why is this guy selling it so quickly", but I've never heard of a dealer caring.

Exactly, some people have leasing Niro's, turning around and selling after a month just to get the lease equity from inflated used car prices. I don't think selling quickly matters as much as what the actual Used car market says this car with XX miles in XX condition is worth.

 

[Unreal1]

This was my car. Actually 18,5k but that was back in June. Look at the 2-8yr old wholesale auction prices and you will see a big nosedive accelerating in the last couple of weeks. That is a definitive trend for sure, one that still hasn't translated into retail prices, however the online dealers have started to adjust their offers to cover their behinds. My car I would say was worth 12,5 -13k in a normal market, but decided to jump before the used car market began its correction. Two weeks ago I reappraised it just for fun and the offer I got down almost 3k from my original offer.

View attachment 220886

It's odd it's starting to nosedive already because the market still seems pretty dry. Still hard to find anything decent.

But, I don't think it's the main cause behind my low offers. I was getting valuations on it back in May before the drop and it wasn't much different. My offer from Carvana in mid-May was $14k and about the same from Vroom so only a $1,100 drop so far. Still a nosedive, but even when the market was hot my offers were bad. I guess it's just the MY, or maybe manuals aren't getting the same premium as DSG.

 

[jimlloyd40]

It's odd it's starting to nosedive already because the market still seems pretty dry. Still hard to find anything decent.

But, I don't think it's the main cause behind my low offers. I was getting valuations on it back in May before the drop and it wasn't much different. My offer from Carvana in mid-May was $14k and about the same from Vroom so only a $1,100 drop so far. Still a nosedive, but even when the market was hot my offers were bad. I guess it's just the MY, or maybe manuals aren't getting the same premium as DSG.

Didn't you say that 2 of your spark plugs were covered in oil?