How Carvana’s Stock Crashed | WSJ What Went Wrong

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  • เผยแพร่เมื่อ 28 มี.ค. 2024
  • Carvana’s share price skyrocketed in 2021, but less than a year later it dropped by 95%.
    WSJ’s Ben Foldy explains the factors that helped drive the online car dealer’s growth and why investors are now questioning its future.
    Illustration: Preston Jessee
    What Went Wrong explores the challenging conditions and decisions that led to a company's downturn.
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    #Carvana #Stocks #WSJ

ความคิดเห็น • 902

  • @michaelhuebner6843
    @michaelhuebner6843 ปีที่แล้ว +187

    Carvana has had MAJOR issues with titles. Many Carvana customers got pulled over and arrested for stolen vehicles because Carvana never cleared the vehicle's title before they resold the vehicle. This report is way understating how much of a paperwork nightmare Carvana has.

    • @mrmusicverse
      @mrmusicverse ปีที่แล้ว +8

      I agree, Carvana has a huge backlog of unprocessed titles to their cars.

    • @kleyon11
      @kleyon11 ปีที่แล้ว +9

      Something tells me they are either saving money on not acquiring the titles or maybe
      even borrowing money from the titles that they own. I'm sure it's all linked to money.

    • @seattlegrrlie
      @seattlegrrlie ปีที่แล้ว +2

      Correct

    • @OriginalDubb
      @OriginalDubb ปีที่แล้ว +1

      Many?

    • @kricejr
      @kricejr ปีที่แล้ว +8

      Can't get a title to a car they don't own. Half are stolen and Carvan buys them anyway. Craziest place, never buy a car from them

  • @emilymorgan4990
    @emilymorgan4990 ปีที่แล้ว +52

    The process sounds great but we have been waiting over 2 months for our car to arrive and its been delayed another 2 weeks. They use third parties to deliver so they have little control on time frames and shouldn't be advertising quick deliveries

  • @brucerosner3547
    @brucerosner3547 ปีที่แล้ว +96

    One cal always count on the WSJ to report business failures just after a crash. Up until then the business is hailed as genius.

    • @iwantmyslaw3967
      @iwantmyslaw3967 ปีที่แล้ว

      What?

    • @danielwalker6653
      @danielwalker6653 ปีที่แล้ว +4

      @@iwantmyslaw3967 He's criticizing WSJ (and others NYT etc) for puff pieces on founders/businesses up until the disaster has happened/is obvious.

    • @iluvcamaros1912
      @iluvcamaros1912 ปีที่แล้ว

      @@danielwalker6653 They're like a bunch of weathermen reporting to you live -- from the aftermath of the hurricane they failed to warn you about.

  • @stacywilson957
    @stacywilson957 ปีที่แล้ว +737

    I feel sad that even though I am investing, I don't have the brain power to dig through how each company is doing, is this a good time to buy stocks or not, my reserve of $450K is laying waste to inflation and I don't know what to do at this point tbh, I need solid data on market trajectory

    • @davidnewbury1721
      @davidnewbury1721 ปีที่แล้ว +9

      I'll suggest you find a mentor or someone with experience guide you especially in this recession.

    • @sheliaswelttk2535
      @sheliaswelttk2535 ปีที่แล้ว +6

      @@davidnewbury1721

    • @tomjason2495
      @tomjason2495 ปีที่แล้ว +4

      @@sheliaswelttk2535 I've been thinking of going that route, been holding on to a bunch of stocks that keeps tanking and I don't know if to keep holding or just dump them, think your inv-coach could guide me with portfolio-restructuring?

    • @gabriellewilson5625
      @gabriellewilson5625 ปีที่แล้ว +4

      @@tomjason2495 Sure, the inv-coach that guides me is Amy Priscilla Raskin , she popular and has quite a following, so it shouldn't be a hassle to find her, just look her up

    • @tomjason2495
      @tomjason2495 ปีที่แล้ว +3

      @@gabriellewilson5625 Just copied and pasted her name and her website popped up immediately, interesting stuff so far, about to book a call with her, I'll keep you updated on how it goes. Thanks

  • @afanatee
    @afanatee ปีที่แล้ว +26

    No joke: my friend bought a car from them, had them repair it free of charge (even though they reduced the price BECAUSE of those defects), and then sold it back to them for a profit since it was in good condition.😂😂

    • @alanpinnt
      @alanpinnt ปีที่แล้ว

      I’m not shocked but wow. You’d think they’d track vins and pay more for a vehicle they previously owned.

  • @JudgeDredd_
    @JudgeDredd_ ปีที่แล้ว +45

    So many companies with poor business practices get funding whilst great companies, meaning great revenue plans, get completely overlooked.

    • @01jbeals
      @01jbeals ปีที่แล้ว

      Truth

    • @bannaboy89
      @bannaboy89 ปีที่แล้ว +1

      you should invest in those companies then. you might be on a gold mine

    • @JudgeDredd_
      @JudgeDredd_ ปีที่แล้ว +1

      @@bannaboy89 I’m investing in myself right now actually. Already ahead of ya

  • @Jeeplover1O1
    @Jeeplover1O1 ปีที่แล้ว +125

    When they gave me 15K for my 10K car, I knew that their model couldn’t be sustainable.

    • @robertagren9360
      @robertagren9360 ปีที่แล้ว +11

      Darn pyramid schemes. You really have to be on the rail at the beginning or pay a low cost for each stock.

    • @rhuttrho88
      @rhuttrho88 ปีที่แล้ว

      @@robertagren9360 Yep!

    • @hawke4395
      @hawke4395 ปีที่แล้ว +7

      It was insane. I work at a dealership and you don’t know how many cars we didn’t take in on trade because Carvana offered a ridiculous amount to the customer. Then they realized they overbought and we started beating every offer they gave out.

    • @Eyetrauma
      @Eyetrauma ปีที่แล้ว +1

      Hope you got in while the gettin’s good

    • @larsstougaard7097
      @larsstougaard7097 ปีที่แล้ว +1

      its the wheel of time, that gives you a flat tire

  • @SlumberSource
    @SlumberSource ปีที่แล้ว +22

    The Garcia family began dumping billions in stock between 2020 and 2021. They knew this was not going to last and Garcia SR was going to get his no matter what. I remember reading that it was one of the largest stock distributions a family equity partner had ever taken from a company. This was a bad sign to investors also

  • @williamrori1274
    @williamrori1274 ปีที่แล้ว +68

    Just lots of mismanagement. I sold my 2017 Subaru BRZ to Carvana and I was thinking the pickup process was going to be a very vigorous test drive, examination, and inspection that the vehicle does indeed follow the criteria that they base their offer on. What actually happened is the guy came, took 2 low quality pictures, couldn't drive stick so he couldn't even move it and they took it away no questions asked. That is not a good recipe for gaining an inventory of cars worth the price Carvana has payed.

    • @miniena7774
      @miniena7774 ปีที่แล้ว +3

      Anecdotes are not evidence.

    • @williamrori1274
      @williamrori1274 ปีที่แล้ว +16

      @@miniena7774 Single ones, sure. But when those data points add up it can tell a good story.

    • @TheCrazierz
      @TheCrazierz ปีที่แล้ว +1

      @@miniena7774 theres plenty of them that paint a picture. Lots of people reported waiting up to 2 years for their title. Some even reported that the car was stolen when sold to them.

    • @benjamindover4337
      @benjamindover4337 ปีที่แล้ว

      Did you think they'd send out a team of NASA engineers to do a full tear down? It seems like that might undercut their margins. Instead they'll just buy everything at low ball prices and write off the lemons as a tax credit.

    • @TheCrazierz
      @TheCrazierz ปีที่แล้ว

      @@williamrori1274 yea there's a ton of horror stories with them when I did research before buying from them. From waiting 2 years for title, to receiving a stolen car. So your story fits with what I read

  • @Joel-ew1zm
    @Joel-ew1zm ปีที่แล้ว +16

    bought a vehicle from them in 2019 and overall was a great experience. I would buy another if inflation wasn't so bad, everything has gone up 30% in a year including my rent :(

  • @BryanVehonsky
    @BryanVehonsky ปีที่แล้ว +44

    I feel like a bigger piece of this story for Carvana and companies like it is that valuations are often just tied to vibes and all it takes is one strong signal from reality to break through that mist. This is likely true of lots of companies but so long as they keep growing the share price can be justified.

    • @crescentprincekronos2518
      @crescentprincekronos2518 ปีที่แล้ว +2

      It's actually most equity securities. Not numbers, facts, etc. But "feels" i.e. sentiment.

  • @electrified0
    @electrified0 ปีที่แล้ว +53

    After selling a vehicle to Carvana with substantial body damage that did not deduct from their offer and was not even mentioned by the agent who picked it up and gave me the check, for a price nearly double what I was offered as a trade-in for my new vehicle, I knew their business model couldn't possibly work. There is simply no way they could have possibly resold my vehicle, repaired or otherwise, in a way that would net a profit for a reasonable price. They're a great option if you want some VC money for your car before they run out, but I'd certainly never buy from them.

    • @turboleggy
      @turboleggy ปีที่แล้ว +9

      They seem to know nothing about cars.

    • @icephoenix3565
      @icephoenix3565 ปีที่แล้ว

      looks like they are offering lower and lower prices. they only offered 20k for a 2017 impala top trim where private party sales can get 25K+

    • @Bufs23
      @Bufs23 ปีที่แล้ว

      Look into Drivetime their bread and butter company. Selling some questionable cars

    • @AznIntegra521
      @AznIntegra521 ปีที่แล้ว

      It seems like their idea of fixing it is to put a band aid on it and hope the new owners dont notice until if ur the one buying then u see how bad the car is and what a poor job they did fixing it.

  • @broncokonco
    @broncokonco ปีที่แล้ว +233

    Let's be honest, there was probably a pump and dump scheme and market manipulation responsible for some of the 95% decline. Investors didn't all just decide simultaneously that a slight decline in sales meant $100 of the stock should really be worth $5.

    • @johnpuri1024
      @johnpuri1024 ปีที่แล้ว +37

      Come on. Nobody believed it was ever worth $100. People bought it for the sole reason that they thought someone else would pay a higher price for it in a month or so. When that stopped being the case (when the stock stopped increasing in price, and even began decreasing) everyone who owned it was incentivized to sell their stock as soon as possible, when the price was still higher than the intrinsic value. When everyone does that at once, the stock collapses. Classic bubble mechanics at work.

    • @prism8289
      @prism8289 ปีที่แล้ว +9

      @@johnpuri1024 exactly. In 2005 at a bbq, these guys were talking about buying 2nd and 3rd houses as investments. I said this whole thing is going to blow up. When the price is going up for the reason the price is going up, it will sooner of later go kablooey.

    • @jcarden6615
      @jcarden6615 ปีที่แล้ว +1

      It's not worth anything only debt

    • @logicalthinkersolisten3199
      @logicalthinkersolisten3199 ปีที่แล้ว +3

      Right..this was probably the usual Market Makers coordinated "bull squeeze" short. The bulls got squeezed and they had to sale FAST (thus driving down the price) to get out of their position. It's really a supply and demand of available shares function and happens all the time.

    • @crocglox7797
      @crocglox7797 ปีที่แล้ว

      🎶 ... Check that price sticker
      and listen to your heart beat quicker;
      look at that mileage rating;
      what's the sense in waiting?
      Chevy Chevette, it'll *drive you happy*,
      Chevy Chevette, it'll *drive you happy*... 🎶

  • @fromwatertowater
    @fromwatertowater ปีที่แล้ว +50

    Who'd of thought building a giant car vending machine might not work out economically?

    • @raphaelverde4571
      @raphaelverde4571 ปีที่แล้ว +5

      your grammar teacher

    • @Aviator526
      @Aviator526 ปีที่แล้ว +2

      Yeah really. I feel buying a car is a big purchase and a vending machine doesn’t put confidence in my purchase.

  • @jins8144
    @jins8144 ปีที่แล้ว +35

    Carvana is overpaying to buy used car. They bought my 2019 Hyundai Tucson for $23k while exact same car with lower miles selling at $21k from CarMax. After few days they listed my car for $21300.. I mean I’m happy with what they paid me but wouldn’t survive long if they are losing money by selling cars

    • @id10t98
      @id10t98 ปีที่แล้ว +15

      "We lose $5 on every sale but make it up in volume." Said every failed business manager.

    • @skeptick6513
      @skeptick6513 ปีที่แล้ว +7

      They are no doubt overpaying but so are their buyers and they also profit from finance and stuff like warranties.

    • @jameskennedy3365
      @jameskennedy3365 ปีที่แล้ว

      During the pandemic everyone was buying used cares for more than they are worth.. People were literally buying new cars Driving them off lots then turning around and selling them back to dealers for more than the sticker price

    • @richardfabacher3705
      @richardfabacher3705 ปีที่แล้ว

      Unless you also own a bunch of lending companies and make your real money in subprime car loans. A lot of people used their stimulus money to put down payments ignoring double-digit interest rates (as high as 25%) for long terms. $20,000 at 25% for 84 months means you would pay $23,000 in interest. They can lose 2K and come out 21K ahead.

  • @Haffmatthew
    @Haffmatthew ปีที่แล้ว +19

    We have had a good experience with Carvana - Sep 2021 we bought a used car and the whole transaction was smooth and free of drama. Seems alot of folks have had varied experiences, so I feel lucky now!

    • @davidpachecogarcia
      @davidpachecogarcia ปีที่แล้ว

      That’s excellent and that should be the experience across the board but the fact that it’s not is the problem that they have to alleviate going forward.

    • @Haffmatthew
      @Haffmatthew ปีที่แล้ว

      @@davidpachecogarcia I agree!

    • @larsstougaard7097
      @larsstougaard7097 ปีที่แล้ว

      Yeah true, I guess dealing with them was kind of the luck at a vending machine, maybe its a good one

    • @Haffmatthew
      @Haffmatthew ปีที่แล้ว

      Isn’t that the case though with all dealers? I’ve had several bad experiences at local brick and mortar car dealers swindling us into bad situations over the years- and partly I suppose I was to blame for not doing my own research beforehand but my point is that all venues of obtaining new cars or used cars can be a good or bad thing.

  • @dodidowil9631
    @dodidowil9631 ปีที่แล้ว +18

    That's not my problem anymore 🤣. Bought the stock at 22.75 and sold it at 47!

    • @maksatosmon
      @maksatosmon ปีที่แล้ว

      That’s what I was going to do too, but couldn’t because I was afraid that it might go down even more. Got some at 20s tho and sold at 39

  • @theBamaJammer617
    @theBamaJammer617 ปีที่แล้ว +3

    We bought two cars in three years from Carvana. Great Experience! Best car buying experience ever!!

  • @dronepilotflyby9481
    @dronepilotflyby9481 ปีที่แล้ว +1

    Yes, I remember back to the Iomega Zip drive. Stock prices driven through the roof by the Motley Fool and then their crash.

  • @2011joser
    @2011joser ปีที่แล้ว +81

    Basic problem was that their prices were higher than comparable cars at regular car dealers.

    • @RantRantJoe
      @RantRantJoe ปีที่แล้ว +14

      People wanted "no haggle" not knowing that means you opt-in to paying market rate for these cars..

    • @wageslave387
      @wageslave387 ปีที่แล้ว

      Basic problem was it was a ponzi fron the start.

    • @steverl22
      @steverl22 ปีที่แล้ว

      It's a terrible company....simple

    • @Pizzonia295
      @Pizzonia295 ปีที่แล้ว +1

      Price was not actually that bad, but likely that was causing them to lose money.

    • @2011joser
      @2011joser ปีที่แล้ว

      @@Pizzonia295 I shopped for two different cars at two different times and they always came up around $2k more than dealers here in California. I bought private party and dealer. The additional title hassles did not help.

  • @hammadusmani7950
    @hammadusmani7950 ปีที่แล้ว +7

    The current stock market is not a good indicator of a companies health because it is still fueled by speculation. The value proposition of Carvana is growing and even if it's not Carvana, their business model is likely here to stay.

  • @Tranttdy
    @Tranttdy ปีที่แล้ว +26

    During the chip shortage carvana was buying cars with crazy prices. Usually bought cars for 4000-6000$ than what a dealership would buy. My sister and friend sold their cars to carvana and made 5000$ profit each for a car already driven 40,000miles. I thought it was crazy back then

    • @eustab.anas-mann9510
      @eustab.anas-mann9510 ปีที่แล้ว +2

      Their car prices seemed to be _very_ high to me. Their vending machine buildings look cool though.

  • @MiamiBomber
    @MiamiBomber ปีที่แล้ว

    I worked for a competitor called Shift (Shift Operations/Shift Technologies)
    The houston hub was shift down earlier this month after merging with CarLotz. The co-founder and CEO left the company, and now only have 3 locations in California left.
    There was plenty of smoke in the company…and where there’s smoke, there’s fire.

  • @joesphcu8975
    @joesphcu8975 ปีที่แล้ว +140

    If history has taught us anything, it’s that bad market environments are the best times to find great opportunities.

    • @claraclouse9086
      @claraclouse9086 ปีที่แล้ว +7

      Talked to my millionaire uncle (been investing in Vanguard funds for 30 years) last night and asked what advice he would give investors in today's market: "If you're a long-term investor, you should be buying stocks now. Ignore the news, it doesn't matter over the long-term."

    • @bobbymainz1160
      @bobbymainz1160 ปีที่แล้ว +3

      People are almost always focused on the short term and never the long term. Yeah, market is brutal at the moment and it sucks for everyone, but the market always rebounds higher than it ever hit before. Cheap investments today bring better returns in the future.

    • @oneiljerry9460
      @oneiljerry9460 ปีที่แล้ว +3

      Market collapses are fantastic opportunities to amass significant riches. Nobody is able to predict the future of any market. I've put everything I have into this. I don't care how low we go because market timing and emotion are deadly. Even while I will continue to purchase, I will only invest what I can afford to lose. Currently, my diversified portfolio has a 24 percent gain. Long-term investing is usually profitable.

    • @stephaniestella213
      @stephaniestella213 ปีที่แล้ว +1

      @@oneiljerry9460 This is a superb mindset to have towards the market. How are you able to navigate the volatility that comes with?

    • @oneiljerry9460
      @oneiljerry9460 ปีที่แล้ว +4

      @@stephaniestella213 In order for us to prepare for the future we need to look into safer investment with good prospect . If you have the mindset of investing 5 years ahead and just keep DCA every time you get paid. My portfolio have accrued gains of about $130k under the guidance of my investment -Advisor "Eileen Ruth Sparks" whose skills in portfolio diversification are unmatched and client-centered

  • @jarjarbinks6018
    @jarjarbinks6018 ปีที่แล้ว +8

    I swear to god at first I thought the title said Canada and I was thinking “the house prices finally coming down to earth hmm? 👀”

  • @AlpacaCheese
    @AlpacaCheese ปีที่แล้ว +103

    The titles thing was a big deal. People weren’t getting their titles, new license plates, registration, etc. Covid played a big part in the delay but this is still a bad look on carvana end. The process is actual real smooth to purchase and trade in a vehicle. I also think it’s the future of buying cars. I think the biggest part was their mishandling of finances and the quality control of their company. They are growing too fast without a strong stepping stone to each new phase. They went for the moon and fell hard. It might be too difficult to get back up but there’s a chance if they play their cards righr

    • @seanwilliams8894
      @seanwilliams8894 ปีที่แล้ว +2

      Hopefully they don’t and have to liquidate everything so I can buy a sports car 50% off

  • @dearjohn795
    @dearjohn795 ปีที่แล้ว +15

    Cars too pricey that's why. The marketing guy was too high on sativa.

  • @MrProspero710
    @MrProspero710 ปีที่แล้ว +49

    I love how they kept out all the fraud committed by the owner and his son the CEO, there is no nefarious relationship there to cheat investors, hiding the connection was an oversight.

    • @TracyA123
      @TracyA123 ปีที่แล้ว +2

      Yeah very suspicious they didn't mention how crooked the father is. Carvana is a carbon copy of DriveTime with different window dressing.

    • @wickedmainah950
      @wickedmainah950 ปีที่แล้ว +2

      Wasn't an oversight, was totally intentional to rip people off. Dude should have assessets frozen and distributed to all the people ripped off. And he should be in jail

    • @richardfabacher3705
      @richardfabacher3705 ปีที่แล้ว +3

      Their principal business focus was/is to sell subprime loans for their many finance companies: GO Financial, SilverRock Group, and Bridgecrest Acceptance Corporation, etc. That type of finance has more ups and downs than an elevator. "Buy Here Pay Here" on Steroids.

    • @Bufs23
      @Bufs23 ปีที่แล้ว +1

      Yup DT definitely a shady business and questionable cars

  • @johnpettigrew9420
    @johnpettigrew9420 ปีที่แล้ว +3

    Carvana is one of those companies that harassed me with their ads so many times that I refuse to give them a chance.

  • @mrrolandlawrence
    @mrrolandlawrence ปีที่แล้ว +6

    no way. hyper growth stock didnt work out? never posted a profit, profit to earnings ratio no where near where share price was? it was speculation pure & simple. smart people cashed out late 2021 at the height of the stock market. left the rest as bag holders.

  • @hollygab8188
    @hollygab8188 ปีที่แล้ว

    I sold my bumblebee Camaro to them. Great price , quick , never left my house. They got a great deal too. No miles , garage kept , plastic still on the seats. The guy who picked my car up and gave me the check , said he was going to buy it. It was that nice.

  • @edwardpettigrew6595
    @edwardpettigrew6595 ปีที่แล้ว +2

    Their Service and Promise to bring charge is terrible . I waited 3 weeks for a car that they didn’t check out & it turned out to be a Lemon. Instead of them making a right wrong they only made it worse. I was already Approved but they made me ReApply for a different but same year car. Then they wanted me to Provide 6 Months Bank Statements and wanted me to give them the Down Payment before I was even Approved. I explained to them, that why would I give them the Down payment early when they couldn’t even deliver the last car. It was totally their fault but they never made it right. Every time that you call, you get someone different on the phone telling you different things. When you go to the Vending Machine no one can help you and they tell you to call Customer Service. Terrible experience and I will never recommend anyone to this Company. I purchased a car from the Cadillac Dealership instead.

  • @lephtovermeet
    @lephtovermeet ปีที่แล้ว +8

    Really not gonna say anything about how sketch the Garcia family is or how many illegal sales and lemon cars they sold? Quality journalism WSJ...

  • @GoinManta
    @GoinManta ปีที่แล้ว +11

    I bought 3 cars from them over the last 3 years. They have been fantastic in every aspect of the buying experience.

  • @kimchi_taco
    @kimchi_taco ปีที่แล้ว +1

    I bought my benz by $24k in carmax 2016 and sold it by $17 in carvana 2022. I wondered why carvana gave me this generous money. god bless carvana.

  • @eliyahbrowning4099
    @eliyahbrowning4099 ปีที่แล้ว +2

    My opinion on carvana stock is either they go bankrupt which is hard to believe would happen and the stock price falls to zero or they could be worth 20 times or more what their worth today at just $4 a share. The question is are you willing to take the risk?

  • @lodesj920
    @lodesj920 ปีที่แล้ว +3

    What went wrong? In my experince, changed my receiving date that took me two weeks to to arrange with my schedule, car not as advertised and needed repairs upon delivery. Oh and second car is now delayed twice and I still have to make it to work and the miles are counting through no fault of my own however th $1 p mile

  • @sonyablack2015
    @sonyablack2015 ปีที่แล้ว +157

    Any thoughts on CVX, NIO? Almost opted for Carvana a few days back however, I got wind of their purported crash earlier.

    • @bertjames436
      @bertjames436 ปีที่แล้ว

      No response because all these are daily speculations. Lol. Isn't there a more direct approach to all this random videos? Can't there be a direct video explaining how we all can make big gains from this once and for all?

    • @buryatiaducky4233
      @buryatiaducky4233 ปีที่แล้ว +2

      @@bertjames436 Thἰs whole thἰng ἰs a zero-sum game, and you could potentἰally lose all. If there were a particular approach, then ἰt would be too easy. Quἰck tἰps: diversἰfy your portfolἰo (locally and Internatἰonally); Study the charts thoroughly; Get & work with an experἰenced specἰalἰst whose platform has dἰverse ἰnvesting choἰces. That way, you gἰve lἰttle room for error and perhaps gaἰn more.

    • @buryatiaducky4233
      @buryatiaducky4233 ปีที่แล้ว

      @higson Funny enough, I can honestly relate. It's really difficult to find someone whose platform has diverse investing choices. I don't know if I am permitted to drop this here, but her name is "Sandra Yvonne Webster". You can check her out for more.

    • @pizzaguy7998
      @pizzaguy7998 ปีที่แล้ว

      @@bertjames436 Don't chase fast money that's not typically how it works BTW, great tips from the guy up there.

    • @kathleenstoner.n7499
      @kathleenstoner.n7499 ปีที่แล้ว

      @@pizzaguy7998 This is the second time I am coming across that name Sandra Yvonne Webster last Tuesday, I saw a telecast on the economic bubble there were lots of testimonies from her clientele on how her strategies turned them into miIlionaires overnight. The testimonies were so impressive and sounded too good to be true. I am a bit skeptical, though she's one of the oldest around. Are you a client there? Thanks if you reply.

  • @jeremypearson6852
    @jeremypearson6852 ปีที่แล้ว +8

    I wonder how Carmax has been able to avoid some of the same issues? Their pricing isn’t always the most competitive either. At least potential buyers can test drive the vehicle first which helps. Also, being established means they don’t have to spend as much on advertising.

    • @prism8289
      @prism8289 ปีที่แล้ว +1

      Well, one major reason is Carmax doesn’t have the operational problems that Carvana does. A major strength of Carmax is its supply chain and logistics, which when it is operating as it should, it’s seamless and bulletproof. The downside of that is when something doesn’t quite work as it should on the system, it can really come off the rails fast, which unfortunately management doesn’t seem to concerned about in the rare times it happens.
      For the most part, cars we MOSTLY good. The big horror stories you hear about of extreme ripoffs and completely taking advantage of customers almost never happened. People knew they were paying more, but for that piece of mind were willing to pay it. They took the sleaze factor out, and that reputation matters a lot. It sells A LOT of cars.
      That said, as the bean counters take over and with the reputation established, suddenly execs are thinking more about their bonuses and shareholders. The quality care declined, which is something they were kind of forced into doing. They have been busted in the past for not doing the inspections they claimed they were, or they weren’t fixing them. But overall, things were really good. However when all their online sales and deliveries were starting to roll out, they were getting sloppy.
      When buying from anyone, buy a car with a return policy, and immediately take it to a trusted, objective mechanic to do an examination of it. Pay the $100 for that. It is very well worth it and could save you thousands.

  • @donaldfabozzi3996
    @donaldfabozzi3996 ปีที่แล้ว

    This barely scratched the surface. Should discuss stock ownership, cashflow, degree of title latency.

  • @steverogers8163
    @steverogers8163 ปีที่แล้ว +224

    They really downplayed the issue with titles. People were literally not getting the title for their cars for upwards of a YEAR!! There was indication that Caravana was breaking several different state laws in regards to car sales as well. This went well beyond logistical problems and straight into the realm of deliberate malice. Also not mentioned the father/son duo of the company have been selling off billions of dollars worth of the company stock before it crashed.

    • @brucew3693
      @brucew3693 ปีที่แล้ว +1

      Hope they went to jail for this

    • @98MAzdaMilleniaS
      @98MAzdaMilleniaS ปีที่แล้ว +19

      I worked for FedEx express for 7 years. I can confirm this. Everytime i got a Carvana envelope it had a car in the driveway with an expired tag.

    • @ondreiii
      @ondreiii ปีที่แล้ว +3

      @@brucew3693 not siding with any but why should they go to jail? Legitimately cashing out on your own hard-built enterprise may sound unethical because it may degrade the trust but not that it’s illegal..

    • @havocsquad1
      @havocsquad1 ปีที่แล้ว +6

      @@ondreiii Theft through deception because they cannot deliver a vehicle in proper condition that can be legally titled in the new owner's name.
      Not much different than buying a stolen vehicle without knowing and not being able to use it. One would expect a dealership not to sell them a vehicle that can't be legally owned.
      That's criminal, not civil.

    • @user-gv5mo1rd2p
      @user-gv5mo1rd2p ปีที่แล้ว +1

      They updated tags on time duh. And people buying on Carvana markup will not sell the vehicle locally at a steep loss.

  • @agusrodriguez1
    @agusrodriguez1 ปีที่แล้ว +3

    I always find Carvana's prices way too high when compared to traditional dealerships. even before COVID.
    I also think the test driving experience is priceless, and you can't do that with online shopping. but I am an old person...LOL

    • @818deadboys
      @818deadboys ปีที่แล้ว

      I’m a Gen Z and I MUST test drive my car before a purchase. Private seller or dealership.
      I trust buying a used car without a test drive or scoping like I trust buying the right fitting shoe online from a reseller. Just too risky

  • @iron_recluse
    @iron_recluse ปีที่แล้ว +7

    I had a really good experience selling my car to Carvana. Was really easy. Seems like everyone either has a really good experience or really bad experience with them.

    • @lovly2cu725
      @lovly2cu725 ปีที่แล้ว +4

      Buying was a major issue

    • @ALT-vz3jn
      @ALT-vz3jn ปีที่แล้ว +1

      It makes perfect sense that you were able to sell easily, they were desperate for cars.

  • @michaelweaver9528
    @michaelweaver9528 ปีที่แล้ว +1

    A buddy of mine bought a car from Carvana probably a year ago. They shipped him the wrong car. Only took a couple days to get it figured out.

  • @d.wagnerRE
    @d.wagnerRE ปีที่แล้ว +3

    I would like to have known more about the competition that has sprung up since Carvana started. I believe this is a real contributing factor

  • @cal7378
    @cal7378 ปีที่แล้ว +100

    I’ll save the viewers 7 minutes: Carvana was overvalued and it was obvious

    • @nobodyspecial4702
      @nobodyspecial4702 ปีที่แล้ว +2

      Not to mention all the stolen cars they resold. That never works out well for a car dealer.

    • @vuaeco
      @vuaeco ปีที่แล้ว +3

      Same as everything in the stock market nowadays. The stock market is totally disconnected from the economy.

    • @richardrubin1763
      @richardrubin1763 ปีที่แล้ว +1

      Remember how Google never showed a profit for five years?

  • @JadeHammy
    @JadeHammy ปีที่แล้ว

    I had a good experience. Bought my rav4 in 2014 for 25k. Sold it to Carvana for 14k after 3 accidents and 80k mileage in 2022🤷‍♀️

  • @Beauty-ln5zj
    @Beauty-ln5zj ปีที่แล้ว +2

    It took me a year to get my car registered. They literally kept giving me temp tags but I was able to get my car registered in my state and I have the title as well

  • @TheRcwasa
    @TheRcwasa ปีที่แล้ว +7

    I used to work for them and they suck, they harassed me until i had to quit, I almost had a heart attack at one point thanks to my manager at the facility and now Carvana fired everyone that’s karma

    • @sterlingpless9280
      @sterlingpless9280 ปีที่แล้ว

      A lot of people there were treated so bad they should be given refunds

  • @DonCarlosDonCarlos
    @DonCarlosDonCarlos ปีที่แล้ว +8

    My experience with Carvana wasn't great or awful, the delivery time kinda sucks, but so much better than dealing with dealer salesmen.

    • @xobertoxo
      @xobertoxo ปีที่แล้ว

      Got a car from carvana myself. Hopeing here nothing weird happens. What are you thoughts on this?

    • @ALT-vz3jn
      @ALT-vz3jn ปีที่แล้ว

      Car dealership salesmen are a nightmare. After being traumatized at my last car purchase I vowed to drive this one into the ground. I loathe dealerships with a passion now.

  • @CharlesJackson-tt7ve
    @CharlesJackson-tt7ve ปีที่แล้ว

    I've purchased 5 vehicles..
    Love the process...paperwork slow but got titles just fine.

  • @harry8912
    @harry8912 ปีที่แล้ว

    Anyone know a good place to get a used car? Looking to spend 5-10k on it.

  • @lvlsjewelry2752
    @lvlsjewelry2752 ปีที่แล้ว +22

    Also carvana is actively overpaying for used cars in auctions around the country. It went so far they started buying auctions and were constantly outbidding small dealers. They actually lose money on every single car they sell

    • @abrahamreviews
      @abrahamreviews ปีที่แล้ว +2

      Lose*

    • @arasb3258
      @arasb3258 ปีที่แล้ว +2

      Yes sure, but they make it up on volume!
      /J

    • @JuanHernandez-dj9zo
      @JuanHernandez-dj9zo ปีที่แล้ว

      It seems they mark up the value of the used Vehicle somewhat above its Bluebook value including mileage, and eventually a creating a profit.

    • @Nikowalker007
      @Nikowalker007 ปีที่แล้ว

      @@arasb3258 used to make through financing but not anymore due to raised federal interest

  • @MrCTruck
    @MrCTruck ปีที่แล้ว +4

    I’ve seen one carvana delivery truck my entire life

    • @mikepellegrino514
      @mikepellegrino514 ปีที่แล้ว

      They outsource. We sold our car to them. A local tow company picked it up. Driver said he was taking it straight to auction.

  • @yookalaylee2289
    @yookalaylee2289 ปีที่แล้ว +2

    Carvana's facade is so legit that people didn't mind over paying for a used car lol. "my experience was good" = "I couldn't tell i was getting screwed"

  • @alparslankorkmaz2964
    @alparslankorkmaz2964 ปีที่แล้ว +2

    Nicely explained.

  • @TheCrazierz
    @TheCrazierz ปีที่แล้ว +5

    I thought about using carvana but I had heard multiple horror stories. Theres plenty of TH-cam videos about it, some people waited TWO YEARS for their titles, some cars were in bad conditions, they even sold stolen cars. Yea, no thanks.

  • @khemarandinh3488
    @khemarandinh3488 ปีที่แล้ว +34

    Yeah what about the insider trading by the CEOs daddy. Billions of stock sales since October last year. Pump and dump! They lose money on every car they sell.

    • @wagu7003
      @wagu7003 ปีที่แล้ว +2

      He's a convicted felon.

    • @robertagren9360
      @robertagren9360 ปีที่แล้ว

      Technically the shareholders lost because they invested in hope that it would work but when you have inflation the costs increases and debts aren't what people want to make to buy cars because cars are debts and when it goes bad for the real estate it goes bad for the car industry.

  • @logicalthinkersolisten3199
    @logicalthinkersolisten3199 ปีที่แล้ว +2

    They acquired that auction company ADESA in Feb 2022, so now the are controlling half of the SUPPLY SIDE used car inventory. Their PER CAR SOLD margin will be wider, so revenue will go up and then the stock price will go up.

    • @rogerfloyd852
      @rogerfloyd852 ปีที่แล้ว

      Houses are unaffordable and soon used cars will be too

    • @logicalthinkersolisten3199
      @logicalthinkersolisten3199 ปีที่แล้ว

      @@rogerfloyd852 It's because the new car inventory is almost non existing.

    • @rogerfloyd852
      @rogerfloyd852 ปีที่แล้ว

      Nah it's because the world locked down for the sniffles

  • @tigerrx7
    @tigerrx7 ปีที่แล้ว

    There are a ton of lessons from a lot of recent collapsing businesses to talk about in your 7PM strategy class

  • @michelbruns
    @michelbruns ปีที่แล้ว +4

    Never heard of them before

  • @tradekings5433
    @tradekings5433 ปีที่แล้ว +77

    Stock underperformance and bear markets are to be seen as opportunities to buy and sit tight watching your investment reap returns. Instead, panic and insecurity cause many to sell thus losing out on the markets. Grit, patience and resilience are virtues.

    • @Robertgriffinne
      @Robertgriffinne ปีที่แล้ว +5

      Outperformance is not possible without underperformance. Good days are not possible without bad days. Bull markets are not possible without bear markets. Multibaggers are not possible without drawdowns.

    • @Joeryan657
      @Joeryan657 ปีที่แล้ว +3

      Now that's the reality of market, but everyone want bull run and no one wants bear market.. Guess what these are the people who trade with calls and not analysis.

    • @marianparker7502
      @marianparker7502 ปีที่แล้ว +4

      Starting out with a with a professional that knows the ropes of the choppy but profitable market is the best way to achieve getting a well structured portfolio. That’s why I have been working with ‘ "Nicole Ann Sabin" ’ and that doesn’t make me daft because in financial dealings one have to be prudent. Most traders enter exit with a quick 10% profit which is not bad in a general opinion but why not aim higher, it doesn’t necessarily mean to be greedy.

    • @wiebeplatt4749
      @wiebeplatt4749 ปีที่แล้ว +2

      @@marianparker7502 i am approaching retirement & i think this is the last window of opportunity for me to become a millionaire before retiring, as Recessions and downtrands are where millionaires are created. Currently i have some lump sum in a savings account and will like to work with a fiduciary financial advisor to achieve my goals. Please how can i reach Ms. Nicole?

    • @marianparker7502
      @marianparker7502 ปีที่แล้ว +2

      @@wiebeplatt4749 You can look her up as she has an official webpage for consultations. According to Warren Buffet "I don’t think most people are in a position to pick single stocks. A few are, maybe, but on balance, I think people are much better off buying a cross-section of America and just forgetting about it" In Other words, you need expert hands to be able to outperform the index.

  • @scottriley9398
    @scottriley9398 ปีที่แล้ว +2

    It probably didn’t help that I sold them multiple cars with major issues that they paid well over market value for. They don’t or didn’t look them over at all.

  • @letsgobrandon2523
    @letsgobrandon2523 ปีที่แล้ว

    I mean the big reason I didn't buy from them with my last car purchase is they were literally $4k more expensive than the dealer for an identical car, with the cheaper dealer car being lower mileage. It was a win win going to the dealer ironically.

  • @furiousmojo1
    @furiousmojo1 ปีที่แล้ว +66

    It was a miserable experience dealing with Carvana. I hope they go out of business.

    • @robertd9850
      @robertd9850 ปีที่แล้ว +2

      My experience was just the opposite although that was two and a half years ago.

    • @marcxiong8332
      @marcxiong8332 ปีที่แล้ว +2

      @@robertd9850 I had great experience with carvana as well but that was also over a year ago

    • @nothing-something
      @nothing-something ปีที่แล้ว +2

      I've had two wonderful experiences with Carvana, hard to imagine better.

  • @staffsgt.sullivan3833
    @staffsgt.sullivan3833 ปีที่แล้ว +4

    Me before this video: vaguely familiar with Carvana mostly via commercials
    Me after this video: you didn’t know about the trouble Carvana is having with its business model and the subsequent stock fallout?

  • @FaisalKhan-wf8ys
    @FaisalKhan-wf8ys ปีที่แล้ว +2

    Please do a video on Vroom. Buy, don't buy?

  • @STO7750
    @STO7750 ปีที่แล้ว

    Yeah, "hope and belief"

  • @ericmalcolm3467
    @ericmalcolm3467 ปีที่แล้ว +33

    *EVERY FAMILY HAS THAT ONE PERSON WHO WILL BREAK THE FAMILY FINANCIAL STRUGGLE I HOPE I BECOME THE ONE ☺️... IN A FEW WEEKS I WAS ABLE TO PAY OFF MY DEBTS THROUGH INVESTING IN CRYPTO TRADING*

    • @ricketsaaalv2979
      @ricketsaaalv2979 ปีที่แล้ว

      *Assets that can make you rich
      Crypto
      Stocks
      Real estate*

    • @desmondhenry1624
      @desmondhenry1624 ปีที่แล้ว

      *I feel like the hole season is over, I'm trying to get into trading as a rookie, buh I've had so much losses trying to trade on my own, pls what strategies do I need to earn profits from the market?*

    • @Kelvin.luther.007
      @Kelvin.luther.007 ปีที่แล้ว

      it's obvious.
      a lot of people remain poor due to ignorance, it's better to take risks and make sacrifices than to stay poor

    • @jacksonhussan1774
      @jacksonhussan1774 ปีที่แล้ว

      The best strategy to use in trading is to trade a professional who understands the market quite well, that way maximum profit is guaranteed. Because I have learned along the way of my investment that research and analysis are important, note that experience is more needed, than luck when it comes to the financial market.

    • @coreytyrone5937
      @coreytyrone5937 ปีที่แล้ว

      Yeah you're right, most times it amazes me greatly the way I moved fro an average lifestyle to earning over $62k per month, utter shock is the word. I have understood a lot in the past few years to doubt that opportunities abound in the financial markets, The only thing is to know where to focus.

  • @33Jenesis
    @33Jenesis ปีที่แล้ว +9

    It feels wrong to buy a used car sight unseen. I’d rather buy from dealership’s certified used or from an individual seller locally. I bought my 3 used cars this way and not one was having issues be it title or mechanical.

    • @georgef1176
      @georgef1176 ปีที่แล้ว +1

      It is not smart to buy sight unseen. Any technician will tell you this. But they will refund you if you find issues but it’s still bad practice. Check a car out in person always

  • @jackslagle2019
    @jackslagle2019 ปีที่แล้ว

    Soooo should I use carvana?

  • @kellichristopherson2030
    @kellichristopherson2030 ปีที่แล้ว

    As someone who does a lot of car loans.... They are a nightmare to deal with

  • @DenisShch93
    @DenisShch93 ปีที่แล้ว +117

    Sold my used car with Carvana. Really liked the experience. Also, they paid twice the price offered by a dealership. I hope they’ll get over this period.

    • @timothy1949
      @timothy1949 ปีที่แล้ว +52

      they paid twice the price offered by a dealership, thats why they wont get over it

    • @2011blueman
      @2011blueman ปีที่แล้ว +4

      I sold my used car to Carvana, terrible experience. They left the car blocking my driveway for 3 days before I had to threaten to have the car towed away.

    • @JakeStewart1343
      @JakeStewart1343 ปีที่แล้ว

      @@2011blueman terrible 😢

    • @DenisShch93
      @DenisShch93 ปีที่แล้ว +3

      @@timothy1949 dealerships are a bunch of scammers. If you think that they offer fair price, you’re probably one of those crooks.

    • @Dooguy
      @Dooguy ปีที่แล้ว

      @@timothy1949 lol people are so stupid. Sure 'we'll pay you twice as much for your car than anyone else. We have a magic wand.

  • @jg2611
    @jg2611 ปีที่แล้ว +47

    Makes you realize how ridiculous the stock market can be
    Valuation is determined by scammers rather than actual company value

    • @prism8289
      @prism8289 ปีที่แล้ว +4

      It’s a casino. It’s all about the hustle and momentary perception of what a stock will do, and not how good the company is.

    • @tomlxyz
      @tomlxyz ปีที่แล้ว +1

      It's determined by projected future earnings.

    • @tomlxyz
      @tomlxyz ปีที่แล้ว +1

      @@prism8289 The stock market is not a casino. For a start, it's not a zero sum game like a casino. It only gets into gambling territory if you invest in companies making outlandish predictions about future earnings

    • @prism8289
      @prism8289 ปีที่แล้ว +1

      @@tomlxyz no. When you are no longer betting on what a company is or does, and instead on what the stock market will do say to day, it’s a casino. 70% of trades are high frequency. It has forced CEOs to play the game to bend the company to manipulate a share price and not build a strong company that endures. Even Buffett says so. Carvana is an excellent example. Anyone looking into Carvana for ten minutes saw problems. But they kept buying stock because they thought it would go up, not because it was a good company.

    • @youtubehatestruthtellers8065
      @youtubehatestruthtellers8065 ปีที่แล้ว

      So you understand the stock market

  • @0pen22
    @0pen22 ปีที่แล้ว +1

    So I tried selling a car low miles recent yr 16’ and the cost of sell would be $632 like wth I can sell my whip with well over $10k at the very least but to buy a car from there is actually more expensive than a used car lot

  • @ozzy_fromhell
    @ozzy_fromhell ปีที่แล้ว

    I was just going to buy a bmw m4 off there is it still a good idea

  • @yonixseyoum2865
    @yonixseyoum2865 ปีที่แล้ว +5

    Its every one of them, Shift for example has closed 7 out of 10 locations and fired 60% of its employees

  • @lukerinderknecht2982
    @lukerinderknecht2982 ปีที่แล้ว +3

    I've seen so many car channels on TH-cam talking about their nightmares with Carvana, like not being able to find a title, lack of follow up, etc.

  • @RyanMear
    @RyanMear ปีที่แล้ว

    Apparently they don't deliver to my area of Indiana.....

  • @MONi_LALA
    @MONi_LALA ปีที่แล้ว

    I was looking for a used car. Being someone who hate going to dealership, I immediately go to Carvana website. The price is outrageous. Used car market is already outrageous but for Carvana to have the same price or more to the dealership along with problems with title, that's when I'm just gonna suck it up and go to a dealership.

    • @tomdavis3038
      @tomdavis3038 ปีที่แล้ว

      That’s the price you pay for being averse to human contact

  • @CannabisTechLife
    @CannabisTechLife ปีที่แล้ว +32

    Why didn't you touch on ALL the customer issues from Carvana? People not getting their car titles for almost a YEAR after purchase would be one mention...

    • @9regorio
      @9regorio ปีที่แล้ว +4

      It was mentioned at 4:50

    • @CannabisTechLife
      @CannabisTechLife ปีที่แล้ว +3

      @@9regorio just felt like it was an "oh and also" part of the video. In reality it's part of the core for the stock devaluation.

    • @TheCrazierz
      @TheCrazierz ปีที่แล้ว

      @@CannabisTechLife at least one dude waited 2 years

    • @RicePho
      @RicePho ปีที่แล้ว

      I knew I remember the name Carvana from some where. There was a news report story that was on Carvana.

  • @mesutserim1595
    @mesutserim1595 ปีที่แล้ว +109

    Transfer of wealth usually occur during market crash, I've been looking up strategies and apparently both bull and bear market condition provides equal avenue to accrue massive gains, and a news article particularly mentioned a 54 year old that made $180k in 8weeks, how do I learn these strategies, my portfolio has been stagnant for months.

    • @joshspring7686
      @joshspring7686 ปีที่แล้ว

      You have to get a financial-advisor/broker to aid you diversify your portfolios to include commodities, inflation-indexed bonds and stocks of companies with solid cash flows, as opposed to growth stocks where valuations were based on future potential earnings,

    • @chrisbluebird5037
      @chrisbluebird5037 ปีที่แล้ว +1

      @@joshspring7686 Had a good run during my first year in the fin-market, I assumed I had a hang on it. However, things changed during the pandemic, and I needed to diversify into safe assets, so I approached a coach who devised a structure that matched my goals, and in my first year working with her, I made a whopping $695k,
      which I hope to scale to a million before the end of the third quarter.

    • @miawhitlock9140
      @miawhitlock9140 ปีที่แล้ว

      @@chrisbluebird5037 that's impressive!, I could really use the expertise of this advisors , my portfolio has been down bad....who’s the person guiding you?

    • @chrisbluebird5037
      @chrisbluebird5037 ปีที่แล้ว

      @@miawhitlock9140 credits to Jessica Meador Jones, one of the best portfolio manager;s out there. she;s well known, you should look her up.

    • @pigsbark4173
      @pigsbark4173 ปีที่แล้ว

      @@chrisbluebird5037 I curiously looked Jessica Meador Jones online and researched her accreditation. She seem very proficient, I wrote her detailing my Fin-market goals.

  • @nchinth
    @nchinth ปีที่แล้ว

    good time to short it?

  • @nickmoser1866
    @nickmoser1866 ปีที่แล้ว +1

    I got a job in July of 2021 when I was living in Tempe. Complete joke of a company. Their training program was the worst I’ve ever dealt with, and my trainer seemed like he was on drugs 😬

  • @doobielawson702
    @doobielawson702 ปีที่แล้ว +4

    Why people would buy a vehicle without test driving it is beyond me.

  • @anthonyr1479
    @anthonyr1479 ปีที่แล้ว +46

    In order to save the economy, everyone must go out and buy a $1500 folding phone and sign up for 10 streaming services. Get a $6 coffee every morning in your new ev, throw away all your perfectly good hd tv’s and buy bigger 8k tv’s… that’s really what these companies are banking on

    • @edmondchan3426
      @edmondchan3426 ปีที่แล้ว +4

      You seen the Diablo Immortal critique comic? Because it sounds exactly like that and it's hilarious.
      i.redd.it/p1rd9910mi691.png

    • @samthecar
      @samthecar ปีที่แล้ว +1

      🤣

  • @CaponeCraps
    @CaponeCraps ปีที่แล้ว

    Why are they still building in Illinois? They can't sell cars on the state??

  • @FlipCouvillion
    @FlipCouvillion ปีที่แล้ว +2

    When buying used I like to drive the car and look under the hood. Carvana has very high listing prices and I don’t know who I should email to be able to negotiate.

    • @skolarii
      @skolarii ปีที่แล้ว +1

      The whole point of their experience is that there is no negotiation. The price you see is the price you pay!

    • @justshady
      @justshady ปีที่แล้ว

      I bought my car from them great experience, I paid all cash for the exact car I want. Plus I had 7 days to return, which dealership offers that ?

  • @JennaMaloneArt
    @JennaMaloneArt ปีที่แล้ว +3

    I’d like to see the company succeed. This is the future of buying cars and I believe dealerships will have to adapt or go under.

    • @sreeragraghunathan5573
      @sreeragraghunathan5573 ปีที่แล้ว

      yeah, hope they solve their logistical issues in time. This should be the future to buy cars

  • @drmode
    @drmode ปีที่แล้ว +3

    No more free money from Fed plus prices are too high

  • @brainwashingdetergent4128
    @brainwashingdetergent4128 ปีที่แล้ว +1

    Buying Adesa US means they have 52 seas of cars to cherry pick their inventory. If they do this right they'll have a corner on the market that I dont think has ever been played.

  • @uri5347
    @uri5347 ปีที่แล้ว

    Yessssssss!!!! It's time to BUY boys 👦

  • @sszhao11
    @sszhao11 ปีที่แล้ว +11

    You can tell carvana is started by some rich dude never bought a used car. I would never buy a used car sight unseen. And seller of used car is always hiding something and unlike dealer might be able to inspect and fix some issues, carvana can't. And business take risk if car is not as described and spend a lot on shipping to every buyer. And used car buyer buy car every 10 years so hard to get repeat business and spend a lot to earn new customer. Biz model sucks

  • @vsmk8747
    @vsmk8747 ปีที่แล้ว +3

    Not enough calling investors "complete idiots" in these reports on over hyped companies

  • @danielmoreno4117
    @danielmoreno4117 ปีที่แล้ว

    I got a really good deal on my car in April 2021. Crazy how they fall so fast…

  • @bingdong8571
    @bingdong8571 ปีที่แล้ว

    Hilarious!! There's was a carvana ad before the video started!

  • @Bodiddly2106
    @Bodiddly2106 ปีที่แล้ว +11

    Probably the wrong channel to say this, but maybe we shouldn’t just invest in and support everything.

    • @minhchien462
      @minhchien462 ปีที่แล้ว +2

      The US is too car dependent. If people had alternative transportation like metro subways, robot taxi, light rail, HSR, bikes, or buses, then a lot of major car company stocks would crash as well.

  • @YourMom-vl2sp
    @YourMom-vl2sp ปีที่แล้ว +9

    ROFL They tried to disrupt the industry, but they disrupted themselves. HAHA

  • @tn9274
    @tn9274 ปีที่แล้ว

    the condition very similar with unicorn startup that go public yet always posted net loss in financial.

  • @JoseFlores-xh5cj
    @JoseFlores-xh5cj ปีที่แล้ว +1

    Never purchased a car from Carvana but read many reports that their vehicles are very cheaply "repaired"