Used Value Trend

[KnightI2]

I agree with 668. 78+ on a trade in / sale to dealer seems very good with out all the extra packages for this car.

Case in point.
I saw what my dealer gave in trade for my car. This was Feb of this year. 6sp, carbon back semianiline seats, CF1/2, CCB, PDR, no sunroof, 11k miles They had 84 or 86 in the car, paperwork not in front of me and I dont remember the exact amount. That gives you an idea though.

 

[CGB]

Sticker was 96k...waiting on the Cadillac dealer that I bought it from to see what their offer is, as they have expressed an interest in buying it back.

 

[CGB]

Also, to be clear, this is NOT going to be a trade-in, I just really don't want to go through the hassle of trying to sell it, but I'm not sure if I would be leaving a bunch of money on the table.

 

[techdude99]

I need some thoughts from you guys please....as noted in an earlier post, I want to sell my 2022 CT5 BW. Carvana just offered my 78400. I was trying to work out something on a trade (moving to the Texas hill country and looking at Broncos), but the best offer has been 71k, and I don't think that is a good number. I know the tax advantage on a trade, but I also am considering other options and might not buy another vehicle just yet.

Currently at 23400 miles, 6 speed, no sunroof. shadow gray, no carbon pkgs. Excellent condition.

Anybody have any experience with Carvana and do you think that is a good offer?

Thanks in advance.

You're not leaving anything on the table for a quick sale. You might get a couple grand more if you don't mind waiting for the right person via private party sale, but the value will continue to gradually drop as you wait. You can try KBB to get an instant quote from a local dealer and Carmax, too.

The values will continue to depreciate as the market normalizes. Used car values are expected to take a larger drop in the Fall as current GM new inventory goes to the previous end of year discount playbook.

 

[KnightI2]

Right now there is similar car to yours on Autotrader for 77K, There are about another 8 or so like yours, of which 6 I believe are 2023, that are listed for under 87K.
Unless you want to play the waiting game for 6-8K I think Carmax is good efficient offer.

 

[BimmerFan]

Anybody have any experience with Carvana and do you think that is a good offer?

I've sold two cars to Carvana. They are especially good if you have a car with issues that would be noticed on a test drive or any kind of inspection. They basically look at the paint and make sure that it starts. This is why I'd never buy a car from Carvana.

In both cases, I had no loan and so I gave them the car and title and they immediately cut me a check for the value. Other places - even my local marque dealerships, make me wait a few days to process the check.

Based on my limited knowledge of the market and your need for a quick sale, I'd say that sounds like a fair offer. Natch you'll know more how fair it is once you hear back from the Caddy dealer.

 

[savethemanual]

Have happily sold at least 6 cars to carvana. Will never buy from them.

They don't check a thing on cars which look new-ish and don't have any obvious imperfections.

 

[CGB]

Thanks for the input guys.....Cadillac dealer said his number was closer to 60k (!) I guess I will do the Carvana route based on what ya'll are saying.

 

[BimmerFan]

Thanks for the input guys.....Cadillac dealer said his number was closer to 60k (!) I guess I will do the Carvana route based on what ya'll are saying.

Good luck. One more data point: the first car I sold to them, they came to the house and picked it up, and dropped off the check. The second time, I brought the car to them. My appointment was meaningless to them, I waited an hour, then another hour to process the paperwork and then another 30 minutes for a ride home until I gave up and called an Uber. They refused to reimburse me for the uber since I called for it, not them (isn't 30 minutes enough time to call for a car?). They now charge $75 to do the at-home pickup, and I say, pay for it! Unless your time has no value to you.

 

[CGB]

Well, the price now for pick up is 90.00, so I will be driving it to them tomorrow. I just got through finalizing the deal. Hopefully I will have better success with the appointment!

 

[668LT4]

Well, the price now for pick up is 90.00, so I will be driving it to them tomorrow. I just got through finalizing the deal. Hopefully I will have better success with the appointment!

1 final drive. Don't forget to line lock her a few times and have fun on the way over!!

 

[CGB]

Absolutely! Already planning on it.....

 

[CGB]

Update:
Just got back from Carvana...arrived at 10:15 for a 10:30 appointment, was helped immediately by a great knowledgeable employee, and was out the door at 10:45. A very smooth process. The only downside is that my Blackwing is gone.....

 

[savethemanual]

Update:
Just got back from Carvana...arrived at 10:15 for a 10:30 appointment, was helped immediately by a great knowledgeable employee, and was out the door at 10:45. A very smooth process. The only downside is that my Blackwing is gone.....

What's next?

 

[savethemanual]

From these recent trade values and bring a trailer doesn't look like even the 5 blackwing manual is safe from some serious depreciation.

 

[CGB]

I'm going to move to the Texas Hill country so I'm currently looking at Broncos. I'm hoping to find some year end deals, I just have to be patient...

 

[CGB]

From these recent trade values and bring a trailer doesn't look like even the 5 blackwing manual is safe from some serious depreciation.

Yes, which is why I think the Caddy dealer only offered me 60k for my car,

 

[RobC7]

From these recent trade values and bring a trailer doesn't look like even the 5 blackwing manual is safe from some serious depreciation.

If anyone thought that 5BW would be safe from short term depreciation is quite delusional. If you were to keep the car for 10+ years would probably be quite happy with the value in the long term.

 

[dizz81]

I just traded my blackwing because I haven't had a single need for a 4dr car.

Carvana offered me 71k and CarMax offered me 70k.

So I traded it in on another car and the dealership gave me 78k. Almost broke even.

Maybe carvana and CarMax were pricing based on a standard 5V and not the blackwing. Regardless they weren't even close to what I wanted.

Also from what I understand, this is getting pretty common. Both those places are starting to suffer with the market.

 

[668LT4]

From these recent trade values and bring a trailer doesn't look like even the 5 blackwing manual is safe from some serious depreciation.

I think CGB did quite well. The car is almost 3 years old now and has 23k+ miles! He got his value out of the car.