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Thanks to giant online dealers such Carvana and Vroom, you can buy a new vehicle, sell your old one, or both right from home or anywhere. You can get a value for your current vehicle and sell it to get another one. Or just buy one or sell yours without buying. It's easy, fast, and they are beating local dealerships in trade in values left and right. Even beating Carmax in many areas.
The answer to that will likeley depend mostly on what you want and your area. Some sellers can't believe what they are being offered and think at times too goo to be true. However, according to J.D. Power vice president Jonathan Banks told Road & Track that “The market is absolutely on fire...". Adding to that demand are Global chip shortages that have kept some vehicles sitting at the manufacturing plant.
With that said, it doesn't mean that selling to Carvana or Vroom can get the kind of money a private sale could get you, but if quick and convenient is your goal with a chance to get more back for your vehicle than on trade locally, than this is a great choice.
If you sell your vehicle, your check won't bounce if that's what you are asking! Also, once they've committed to taking the vehicle and paying you for it, it's a done deal. No take-backs. Just describe your vehicle to the best of your ability so the offer does not change or it is rejected before they purchase.
The person who comes and gets the vehicle will have made an inspection. It is by this inspection that they verify your description of the condition along with the relying on the vehicle history report. Many have said the inspection is minimal and don't even look under the hood. So if you feel your car is "on it's last leg" and could have a local buyer coming back to your door to complain, they are a great option. Your offer has a certain amount of expected reconditioning built in and they know you're not a mechanic.
Which leads to the buying process. When you buy from Carvana and Vroom, both have conducted an inspection and reconditioning process before they advertise the vehicle for resale. But, if you have heard stories of sellers getting away with selling junk for Gold then it's possible something could be missed. However, most buyers report having a good experience. Both also have a money-back guarantee. Carvana gives you 7 days and 400 miles to decide. While Vroom gives you the 7 days with 250 miles.
Once it's taken to one of their facilities, it is cleaned and they will take care of anything needed to list it for sale on their site or wholesale the vehicle (auction or sell it to other dealers) if it does not qualify as a vehicle they want to sell directly. They do this to assure minimal repairs for reconditioning work is done to the vehicles they take in as well as having a better than average inventory to pick up from.
With that said, their process isn't perfect, and there are some buyers reporting having to return vehicles with undisclosed issues. From rust in one reported case, to a car that came to the buyer with worn brakes and oil leak as mentioned by a Twitter user.
The easy solution is taking advantage of their guarantees. Take your vehicle straight to you mechanic and have them do their own inspection. If they won't credit or fix the issue, return the vehicle for another.
Carvana specializes in local sales. If you buy out of market (as they call it) it will have to shipped with a third party which means an auto transport company. If you want total control of who moves your new pride and joy, you should make this choice yourself. You can still sell your vehicle locally and purchase one from afar. Also, if you are in Alaska or Hawaii, you will need to arrange your own shipping no matter what.
Vroom ships a car from $699 across the country or next door. It's the same price no matter where it's going. That's a plus as some cross-country shipping can cost over $1000.
You can also buy a car online and have it delivered with a private seller or other dealership. Since you can calculate the cost instantly, you'll know if you find something in your budget that doesn't necessarily need to come from these online vendors. Autotrader, Car Gurus, and even good old craigslist is still a great way to find an excellent diamond in the rough.