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If you are planning on selling your vehicle to Carvana you better get cash or certified funds, because It looks like the “B” word for Carvana! Carvana is in deep trouble financially and is now facing BANKRUPTCY. Earlier this month, Carvana initiated drastic cost cutting measures and furloughed off 8% of their employees!

Carvana rocketed to stardom pitching a utopia solution (vending machine) to buy and sell vehicles to faced paced Americans who love the concept of “instant delivery”. The fact of the matter is… their game plan has failed. Buying way too many vehicles in hopes of reselling them at much higher prices along with the interest rates shooting up on used vehicles only exacerbated their troubles. Supply chain issues with new vehicle production and a volatile US economy and stock market have crippled Carvana’s Cash Flow and they have had difficulty producing titles on new vehicle deliveries in multiple states. Click here to read more about Carvana’s Financial Woes

Their largest stockholder is 66 year old, convicted felon Earnest Garcia II who has had many controversial business dealings as well as his son, Earnest Garcia III sitting at the helm as CEO. This in itself was the perfect storm, so to speak. Shady dealings, stocks plummeting 97% as well as hundreds of legal battles in Michigan and Illinois are only skimming the surface of how Carvana is suffering.

So why would someone sell or buy from a collapsing business who is already well over their heads in mounting court cases. Their failing business plan to out-do the hometown car-dealer and faulty day to day business practices resulted in the company having their dealer’s license suspended in North Carolina, Michigan, Illinois and Florida. Three of the states eventually gave in, but Michigan was not so easy on them. After months of research, the State Department of Michigan found innate day to day business protocol which included, but not limited to fraud, missing or destroyed documents, buyers not receiving titles to their vehicles sometimes up to a year later, fault-finding on odometer records, as well as erroneous use of temporary vehicle registrations. Per the State of Chicago, Carvana has sold numerous vehicles they do not have titles for and has caused major issues for buyers. These flawed routines are not new, they have been Carvana’s way of doing business since their beginning and just one of the many causes of their failure.

If you are looking to purchase a used vehicle Carvana’s Model will not lead to financial efficiency and the time you save on the front end, you will pay dearly for on the back end. That old automotive cliché personified “you can pay me now, or pay me alter” is true to life with Carvana. Get the popcorn, the show is going to be pretty gory.

For more information or a free price quote on any vehicle please email us: info@carbuyerusa.com

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The National Highway Traffic Safety Administration (NHTSA) launched over 1,000 safety recalls affecting nearly 35 million vehicles and other equipment in 2021.

Safety means, FIX ME RIGHT NOW…many of the Vehicle Manufacturers will issue “Do Not Drive” statements to the vehicle’s public owner. This may be a direct communication or broadcast (print or other media). The Takata Airbag Recall was the largest and most sweeping of recalls in the history of this country. Airbags are not essential to the vehicles basic operation but could prove dangerous- even fatal in the event of a crash. Deaths have been recorded in connection with the Takata Airbag Recall which has made these repairs a priority. A safety related recall will prevent a dealer from buying / selling your vehicle, especially if the parts needed for the repairs are not available (on backorder). Safety recalls that are most troubling are generally related to:

• Steering
• Braking
• Fuel System
• Ignition
• Electrical
• Crash Avoidance Systems

These systems or issues found within could cause a vehicle to be out of control, lose power, gain power, prevent stoppage or impede normal operation.

If you are unsure about the recall status on your vehicle or want to know more about recalls please visit:

NHTSA Safer Car

You will need the Vehicle Identification Number (VIN) of the vehicle you wish to research. This information is technically not private, because it can be found on the Dashboard of the vehicle (see illustration below)

If a dealer has informed you that your recall cannot be performed due to parts or scheduling issues you can sell the vehicle as-is to CarBuyerUSA.com. Please feel free to visit our website for a price, no personal information is needed.

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Nearly 20 million vehicles are sold casually in the US each year. Casually would mean C2C (consumer to consumer) or private sale. Dealers account for an additional 40+ million used vehicle sales per annum. A large portion of these vehicles are financed while private sales are generally cash deals. If your vehicle is financed (has a lien) it will be significantly more difficult to sell as potential buyers will want a title in hand in exchange for the vehicle and cash payment on the spot. Vehicles with liens can be sold privately but it requires “trust” and a lot of collaboration including: sharing bank info, personal info, multiple meetings and document signing sessions at a local bank or lending institution. Truth be told, few people have the appetite or the business savvy to carry out a fairly high dollar transaction. What could go wrong? Everything!

Most people have the same goals in mind when selling a used vehicle:

1. Fast transaction
2. Safety (personally & financially)
3. Easy (not having to show it 12 times)
4. Getting the most money

Some people might have them prioritized differently and “most money” might be #1 on the goal list. But what if you had to sacrifice one of the above-listed goals? Would it be fast? How many of your daughter’s soccer games are you willing to miss waiting for people to show up or not for a test drive? Would it be easy? How many websites did you list it on? Updating the ads, answering all the inquiries, sorting out the scammer and low-ballers? Surely you wouldn’t compromise personal safety? Would you invite people to your home to see the vehicle? Meet at the police station? Walmart? Piggly Wiggly? Is that really safe? Click here to see the terrible outcome of a FaceBook Marketplace car deal gone wrong. The buyer was a NY Police Officer and was killed at a meet-up to test drive a vehicle he found on FaceBook Marketplace.

There are many sites you can choose to list your car for sale to the public, but you just can’t guarantee the non-negotiables like personal & financial safety. It’s easy for some folks to rationalize the extra effort, lost time and anxiety associated with a private vehicle sale – “if” you can get a premium price for your vehicle. The harsh reality for the private seller is that people that look to buy a vehicle from you are typically savvy buyers, shade tree dealers and low ballers that care little for your time or feelings. Most people find out within hours of posting an ad on Craigslist or OfferUp will receive emails from scammers with a long story that want you to accept PayPal for payment and they will send a transporter for your car and buy it sight unseen. Follow that up with several ridiculously low offers that insult you and grate your last nerve and you are ready for a better option.

There are a dozen or so car buying companies on the net but only one will give you an offer in 20 seconds without asking for personal information. No email address, no phone number required just get a fast price for your vehicle FREE with no obligations. If you like it, opt-in and send us your information and one of our agents will schedule your inspection, discuss payment arrangements and how we pick up the vehicle. You can literally sell your car in just a few minutes from your couch and best of all, you don’t have to go anywhere, meet any shady people or miss that soccer game.

For more information about CarBuyerUSA, please email us or visit our site.

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Does Canadian History hurt the value of your vehicle? Unless it’s a weekend trip for your kid’s hockey tournament the answer is yes, absolutely! Crossing the border with a vehicle made for US Specifications isn’t the problem. A registration event and or change of ownership in Canada would create a history in CarFax and AutoCheck which reveals Canadian History. Why is that a problem? First, Canada doesn’t have titles they have a “Permit” which is a green document that is proof of the registered owner. The registration “clouds” the title history and creates a disincentive for dealers or private buyers to want mess with your vehicle. When the audience for any sale item shrinks (aka demand) the price will fall. There are other factors that make it very difficult and sometimes impossible to purchase a vehicle made for and registered in Canada

Emissions: new vehicles built in Canada may be compatible with US Emissions Standards but will require a certification sticker that is affixed to the vehicle by the manufacturer indicating it is US Emissions compliant. If you just drive into the US with your Canadian Vehicle you can drive it around here in the US for about a year before it turns into a proverbial pumpkin and you face legal issues, fines or worse! The vehicle can be impounded, confiscated and crushed by authorities. You won’t be able to register the vehicle here without converting it to US Emissions Standards which happens in, or close to the border.

Gauges: Metric (kilometers) vs. Standard (miles) The mileage readout may be digital and easily switched back and forth with a button but the Speedometer Cluster will read in Kilometers usually and will need to be changed and recalibrated by a franchised dealer.

Safety standards: Canada is less stringent on safety equipment, bumpers, crumple zones, etc. this is more applicable to older vehicles

Taxes: Border Tax, Gas Guzzler Tax, Provincial Tax, Goods and Services Tax

Vehicle History: CarFax Canada is limited to Canadian motor vehicle and service history and is not available in the US via vehicle history providers

Why are dealers scared when they see Canadian History on a CarFax or AutoCheck Report?

• Liens – there may be a lien(s) against the vehicle that are not recorded
• Taxes/Fines against the vehicle
• Stolen Vehicle “Theft” History is common
• Salvage/Total Loss History not reported
• Kilometers entered on the Registration Document / Title vs. miles
• Configuration issues: a Limited Edition Ford Truck has different content in Canada than the USA and missing equipment creates problems

There are tons of forms and expense to importing your Canadian Vehicle to the US.

Canadian Import Duties:

• Autos 2.5%
• Trucks: 25%
• Motorcycles: up to 2.4%

Gas Guzzler Tax:

Some imports will be hit with the infamous “gas-guzzler” tax.

This tax may be required based on the vehicle’s combined EPA fuel-economy rating.

Other Fees and Taxes:

There will be other vehicle-specific fees, such as the Air Conditioning Tax for cars with A/C (yes,100% true) that can add substantial cost to importing a vehicle from Canada.

In conclusion, Canadian History hurts the value of your vehicle significantly. While it is difficult to project exactly how much, there are a multitude of factors that can make this history substantially worse but based upon experience in the car buying world we feel safe publishing 15-25% of the wholesale book value. There are circumstances where some vehicles are unsellable and have to go back to Canada or get crushed for scrap value here in the United States.

For more information or a free offer to purchase please email us at:

info@carbuyerusa.com or visit www.carbuyerusa.com

Here are some resources for government sites regarding the import/export of Canadian Vehicles.

Import a vehicle to the USA EPA procedures

US Customs Rules for Importing a Motor Vehicle

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CAR THEFTS! They’re growing fast in the USA. Whether for resale or parts, if you want to sell your car after it was stolen, you’re going to take a hit, even if it wasn’t damaged! That’s the way the market is. You just can’t catch a break if someone steals your car so lock it up or you’ll end up being the victim over and over again. First your insurance will probably go up, then, if you get your car back at all, you’ll get hit again when you try to sell it because of the BAD CarFax Report.

Most banks won’t finance a *THEFT BRANDED* title vehicle because if the buyer defaults, they don’t want to take the loss on resale. Most dealers don’t even buy *THEFT BRANDED* cars at all.

The truth of the matter is that most families and luxury buyers don’t want to buy a vehicle if they think the the car was abused or damaged in a theft. If you have ever watched COPS or Wild Police Chases, you will understand why this perception exists! There is a chance that your stolen vehicle may not have been vandalized at all, but in the buyer’s mind, it’s tainted just the same.

The Top 10 Most Stolen Cars as of 2022:

• Honda Civic.
• Honda Accord.
• Toyota Camry.
• GMC Pickup.
• Nissan Altima.
• Honda CR-V.
• Jeep Cherokee/Grand Cherokee.
• Toyota Corolla.

Reference: https://www.thezebra.com/resources/driving/most-stolen-cars/

For information about this blog or a no obligation price quote on your stolen vehicle

Please email us at: info@carbuyerusa.com or click here.

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Is it safe to sell my car to Carvana ? Unfortunately the answer is “probably not” and there is a great deal of evidence that would suggest it is very risky to sell your vehicle to Carvana.

If you read what’s happening to Carvana in Michigan, Illinois and Florida they have been shut down by the governments in those respective states (on notice in FL) for failure to make lien payoffs and produce negotiable titles on vehicles they have sold to customers. That would be a huge red flag for anyone looking to sell their car to Carvana. Please process this without prejudice…”the government of 3 States is taking action to protect the citizens and residents of their territories because a business has demonstrated over time that it is not acting in good faith and potentially insolvent”. When people pay for a vehicle they cannot register, or sell because they have no title it is highly problematic and borders on fraud.

In addition to having severe cash flow issues, the company has not shown a profit since inception and has no path to profitability with their current model. Wall Street once adored Carvana but has since turned away from the stock which is now getting close to zero. The 52 week high stock value was $286 and as of December 8th it is $4 per share. On top of cashflow issues, the company is no longer rated/accredited by the Better Business Bureau and went out with a 1 Star Rating. In spite of these factors, Carvana continues to aggressively market to consumers nationwide.

There are articles published daily, advising investors to sell Carvana stock. Bank of America has downgraded Carvana Stock based on the prediction that they will run out of money before the end of 2023. Would I sell my $75,000 Ram 3500 Pickup to Carvana at this time? Not a chance. Why risk the sale and “hope” the check clears? Carvana wholly owns a finance company called Bridgecrest that finances vehicles that they sell to consumers. We also believe it would be unwise to buy a vehicle with an outstanding Bridgecrest Lien and hope for a negotiable title to be remitted when all this news is prevalent about Carvana’s demise.

Articles for reference:

https://www.cnbc.com/2022/12/07/carvana-shares-tank-as-bankruptcy-concerns-grow-for-used-car-retailer.html?__source=iosappshare%7Ccom.apple.UIKit.activity.Message

https://www.cnbc.com/video/2022/12/07/carvana-shares-plummet-after-the-open-as-bankruptcy-concerns-grow.html

For questions about Carvana or a safer alternative to sell your car, visit CarBuyerUSA.com or email us at: info@carbuyerusa.com

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Mileage is the primary indication of wear on a passenger vehicle, so the short answer is yes! Mileage is mutually exclusive of age and will always have a profound impact on value erosion, irrespective of model year. Conversely, a vehicle with exceptionally low mileage will have more value than average with respect to older model years. Other critical factors are the year, make, model, engine type/displacement and driveline configuration. Diesel powered vehicles typically have twice the mileage lifespan of a gas powered vehicle while electric / hybrid (EV’s) vehicles do not. In fact, higher mileage EV’s suffer dramatically from “no thanks” syndrome where prospective buyers do not want to take the chance of having to replace Lithium-Ion Battery packs at $10-20,000. You have to carefully consider that on average it will take 4 minutes of charging to get 1 mile of driving with a level 2 charging system (see diagram below). Just try to process that a an electric vehicle with 50,000 miles has been plugged in for 200,000 hours on a home based AC Charging System. At 100,000 miles that’s 400,000 charging hours! That vehicle was plugged in over 50,000 times at least. I don’t know of an electrical connector made that can handle that much usage, never-mind the wire and the insulation wear. So high mileage EV’s do scare people and guidebook values are generally unrealistic and unachievable because they are predicted with little transactional history.

Depending on the year of your vehicle and the type of engine and driveline system the mileage will adversely impact the vehicle value by 5-25 cents per mile over the published average for that vintage.

A great example would be a Ferrari that is driven very few miles (1500) per year vs. a Toyota that is driven more than any other vehicle in the USA, upwards of 17K miles per year. If a current model year Toyota Camry and a 5 year old Ferrari 488 GTB both had 7,500 miles they would both have low mileage but the year difference is significant. Some vehicles driven for Lyft/Uber can rack up 150,000 miles while being used to generate income. Those miles have a demonstrable effect on the value which will be a fraction of what the average guidebook figure might be.

There is always the wild card however…the demand for the particular type of vehicle at the time it goes to market! Certain vehicles may be sought for export to foreign markets and mileage is not an issue as the vehicles are rebuilt completely and converted to metric. Very few sources have access to market venues frequented by exporters and international traders of high mileage used vehicles. If you need a fast quote on a high mileage vehicle please feel free to email us at info@carbuyerusa.com or visit our website for a free onscreen cash offer.

Source of chart is https://www.geotab.com/blog/ev-charging/

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Is a NADA (National Automobile Dealers Association) Value for my car any good? Will somebody actually pay me that amount?

Here’s the quandary with guidebook values…there are several out there including: NADA, Edmunds, BlackBook and Galves -plus a host of websites that will project a value for your vehicle. Most of these sites even give you an instant cash offer for your vehicle? Now an “instant cash offer” does not always mean what it says…in fact, it’s more like a lawyer with a billboard advertisement that says “one call does it all”. What we mean here is that many of the automotive websites like AutoTrader, KBB (Kelley Blue Book), Edmunds, TrueCar and Cars.com have a vehicle valuation offering that is designed to create leads for their subscriber base. These subscribers are mostly comprised of New Car Franchise Dealerships and some large independent used car dealers. So when

Is NADA the best vehicle valuation tool available? The answer is YES – but the caveat is “wait and see” because they were purchased by JD Power & Associates. Not everyone is familiar with JD Power but if you have ever seen their name its usually associated with a survey to bolster a business with a satisfaction rating. They sell BRAND Reinforcement and they manage data sources.

NADA data was always the most reliable because the source of their data was transactions from their members - franchise car dealerships. NADA was also most recognized by banks and insurance companies for loans and settlements & still is to this day.

There are three things that makes a guidebook value valid:

1. Based on transactional data
2. Void of editorial opinion / subscriber influence
3. Someone will actually pay that value

You can ask any used car professional “what’s my car worth?” and the answer will always be the same…

“It’s only worth what someone will pay you for it today”! Guidebooks don’t write checks to buy vehicles, they never have and never will. Most of the online vehicle valuation sites have gravitated to lead generation models where they charge dealers to access to your price inquiry. They give the dealer all your personal information, vehicle information, address, damage description and other website/ demographic data for a fee. NADA has moved in this direction since JD Power has acquired the site from The National Automobile Dealers Association so we will see if the values hold true over time.

Until then remember…the best value you can get is a hassle-free Cash Offer!

Come to CarBuyerUSA.com and get an offer in 20 seconds – no personal information required or email us at info@carbuyerusa.com for guidance.

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Leased Vehicles and Vehicles being sold with lien payoffs are worth less than a vehicle being sold with “title in hand”. It’s a hard fact and we will explain exactly why this is so.

Let’s take the easier one to explain, first. Vehicles that are financed must be paid off “in full” in order for the finance source (your bank) to release the title for your vehicle to the purchasing party. The payoff balance is always paid to the lending institution so that clear title can be obtained and the ownership interest can be conveyed to the purchaser (CarBuyerUSA/private seller). Selling a vehicle with a lien is more difficult and there are tangible costs associated with a lien payoff purchase.

Here is a list of the most common expenses:

• Interest
• Depreciation
• Fees
• Float
• Tax
• Penalties

FAQ’s

Q: Is my vehicle worth more if I have the title?
A: Technically no it isn’t. A vehicle being sold “title in hand” will be worth the quoted price and liens / leases will be priced adjusted down slightly which is why we ask if the vehicle is leased or financed BEFORE we quote a price to purchase.

Q: Why is there expense for interest?
A: There is a cost of capital factored into any purchase. The larger the purchase, the more significant the impact. Typically, the expense will equate to $2.75 per day for each $10,000 increment. (Example: a $50,000 vehicle will bear an added payoff expense of $13.75 per day).

Q: Is the interest expense calculated off my payoff balance?
A: No. Because the lending institution will not provide the title to your vehicle to CarBuyerUSA until the payoff is made in full, the vehicle cannot be sold and the entire purchase price is considered frozen capital.

Q: How long does the average bank take to release the title to my vehicle once payoff is received?
A: Generally a bank will take up to 30 days. Some take 45 days which will vary based on what bank clearinghouse system they are affiliated with. A small savings and loan or credit union could take longer based upon COVID 19 policies & practices which we have no control over.

Q: What about the price, will the vehicle depreciate?
A: Yes with absolute certainty the price will change dramatically if the title delivery is delayed an inordinate amount of time. Depending on the class of vehicle, we have seen price drops of $1700 in a single week. CarBuyerUSA can only guarantee a price for 72 hours from the date of contract.

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Pre-owned Tesla values are skyrocketing and have reached record levels as fuel prices surge and commuters look for long term relief. Much like COVID19, many Americans believe that a new normal is here with gasoline prices and that we may never see gasoline under $3.00 a gallon in the USA.

Based on vehicle purchases, Pre-owned Tesla prices have surged 10% in Q2 and that trend is expected to increase modestly, flattening with new model releases. Never before have we seen consumers so willing to spend $60K or better to avoid the burden of unreasonable fuel prices. Tesla’s began as a boutique vehicle purchase by consumers chasing unique and environmentally conscious transportation when introduced to the market a decade ago. But now the Tesla Automobile has been proven nearly bulletproof in quality and older models are fetching nearly $50,000 with over 100,000 miles on them.

The bottom line on Tesla – it’s here to stay and everybody wants one now that gas is getting to be unaffordable for Middle Americans. The demand for a Tesla whether new or used is sky high and supply isn’t so finding a deal on one is not a reality.

We will buy all we can for sure – they always sell right where they sit!

For more information or a fast value on your pre-owned Tesla Vehicle please visit CarBuyerUSA.com or email us.

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