Awesome to get some added info on this. I'd read about the Hindenburg release when it got picked up by the news outlets, but the info was very thin. Cheers from Chicago!
You're missing something from the report and the Ally renewal: Carvana redacts important contract details. If you look at the renewal docs they filed, they redacted most of the amendments to the contract, including credit score requirements. Ally may or may not have changed the deal with Carvana significantly, and the only way for us to find out is when they report earnings and we see how many loans they have or haven't been able to move. 4 billion is great if they can sell them subprime loans, but useless to carvana if score requirements have changed.
I bought a Porsche Cayman from Carvana and words cannot describe how EASY the transaction was. It took 7 days from me sending money to me driving the car. They handled shipping and registration. Car was mechanically sound. Maybe I got lucky but it was a very good experience for me.
I've mentioned on previous podcasts that we LOVE the model/idea behind Carvana, and definitely think that the outdated traditional dealer model is due for replacement. The concern that we have with Carvana is that we're not sure that their numbers add up. We're glad you had a great experience - all car buying should be that painless.
I did not have a similar experience with Carvana. The 2020 BMW x3 I bought from them came to me with 4-5k of work still needed. Luckily, there is a return period which lets you return the car to them and get a full refund. I quickly called them and the return process was simple and easy, they came to my house with their funny looking single car carrier truck and off they went with their horribly serviced BMW. Their reconditioning is definitely something they try to cut costs on. I'm sure they get lucky on cars that come to them in good condition. But, being a huge used car dealer not all cars come to them in good condition.
Hey great video thanks for the stuff I didn't know about! You lost me a little bit at too big to fail. They're not too big to fail they're just a car seller. They could disappear and who would care.
Doug, how do you only have 32k+ subs! You and Rabbit(RIP😢) are the greatest to ever grace vinwiki, and of course, @Edbolian, who will buy anything apparently!😂 I absolutely love your content and pray God continues to bless you, brother!! 🙏
I just checked their stock on my Schwab app and in Jan 2024 it was trading around $20.00/share, and today it is at $240.00/share. I know a perfect way to make their stock take a dive. If I buy some shares it is guaranteed to drop like a rock 😛
Alliance is also motivated to keep the stock price up because the loans they hold drop in value if Carvana goes under. Who wants to buy loans that originated from a defunct company? If you owe the bank $100, that's your problem. If you owe the bank $100 million, that's the bank's problem.
Reporting on someone else's reporting, and adding nothing. Insiders have been onto Garcia for years. The acquisition of Adessa made things interesting. You guys should do a little research before making videos.
Check out our old podcasts. We’ve covered Adesa’s acquisition. We’ve been tracking Carvana for years, studying their quarterly reports, speaking with experts, etc. I’m sorry that our research wasn’t to your expectations.
Did we say it’s imminent? No. I think we unpacked both sides pretty fairly. FWIW I’m still “betting against” them long term because of their debt load, but BK is not likely in the near future. Maybe not ever.
Awesome to get some added info on this. I'd read about the Hindenburg release when it got picked up by the news outlets, but the info was very thin. Cheers from Chicago!
You're missing something from the report and the Ally renewal: Carvana redacts important contract details. If you look at the renewal docs they filed, they redacted most of the amendments to the contract, including credit score requirements. Ally may or may not have changed the deal with Carvana significantly, and the only way for us to find out is when they report earnings and we see how many loans they have or haven't been able to move. 4 billion is great if they can sell them subprime loans, but useless to carvana if score requirements have changed.
I bought a Porsche Cayman from Carvana and words cannot describe how EASY the transaction was. It took 7 days from me sending money to me driving the car. They handled shipping and registration. Car was mechanically sound. Maybe I got lucky but it was a very good experience for me.
I've mentioned on previous podcasts that we LOVE the model/idea behind Carvana, and definitely think that the outdated traditional dealer model is due for replacement. The concern that we have with Carvana is that we're not sure that their numbers add up. We're glad you had a great experience - all car buying should be that painless.
same for me with a 22 bronco
I did not have a similar experience with Carvana. The 2020 BMW x3 I bought from them came to me with 4-5k of work still needed. Luckily, there is a return period which lets you return the car to them and get a full refund. I quickly called them and the return process was simple and easy, they came to my house with their funny looking single car carrier truck and off they went with their horribly serviced BMW. Their reconditioning is definitely something they try to cut costs on. I'm sure they get lucky on cars that come to them in good condition. But, being a huge used car dealer not all cars come to them in good condition.
@ no but you were taken care of; had you bought from a regular dealer there wouldn’t have been any returning anything
I miss the full episode uploads, but keep em coming either way haha. :)
The full episodes are still and will continue to be available in audio format on all major platforms. UA-cam much prefers the shorter videos
@ damn algorithm haha. Thanks!
Tell me why I clicked on this video and a ad popped up "limu emu and Doug" 😂😂😂 So fitting
I loved that this episode was longer than the usual 😍
8:19 I think you mean packaging up securities.
that is the same thing that they did in 2008
the Garcias always sell the day after their employees stock window closes
Hey great video thanks for the stuff I didn't know about! You lost me a little bit at too big to fail. They're not too big to fail they're just a car seller. They could disappear and who would care.
Hindenburg RG has an great track record. Read up on thier work around wirecard
I’ve used Carvana both to buy and sell, awesome experiences. Hope they make it.
Doug, how do you only have 32k+ subs! You and Rabbit(RIP😢) are the greatest to ever grace vinwiki, and of course, @Edbolian, who will buy anything apparently!😂 I absolutely love your content and pray God continues to bless you, brother!! 🙏
I hate Carvana but they will bounce back because if stonks are up stakeholders don't care. As the great YG said, "Big Bank take Lil' Bank"
> "This podcast is basically audio only"
> 9:59
I've been waiting for this follow up!
The achievement of ‘success’ is always most precarious when it appears to be permanent.
I just checked their stock on my Schwab app and in Jan 2024 it was trading around $20.00/share, and today it is at $240.00/share. I know a perfect way to make their stock take a dive. If I buy some shares it is guaranteed to drop like a rock 😛
Alliance is also motivated to keep the stock price up because the loans they hold drop in value if Carvana goes under. Who wants to buy loans that originated from a defunct company?
If you owe the bank $100, that's your problem. If you owe the bank $100 million, that's the bank's problem.
Both (II and III) need to be in jail for insider trading! 🤷♂🤦♂
Are they still withholding the title, for months??
Reporting on someone else's reporting, and adding nothing. Insiders have been onto Garcia for years. The acquisition of Adessa made things interesting. You guys should do a little research before making videos.
Check out our old podcasts. We’ve covered Adesa’s acquisition. We’ve been tracking Carvana for years, studying their quarterly reports, speaking with experts, etc.
I’m sorry that our research wasn’t to your expectations.
CVNA to the MOOOON
I F*ck with you bro! You should talk about yourself more often around here 👊🏼
Meh... nearly any used car loan from 2022 is underwater.. that was nearly the peak of the used car bubble.
Move it along g geeeez
Man I love the straight forward pricing and up front paperwork; so easy to buy the lower mileage vehicles with no hidden fees from Carvana
Hopefully
If only I had a dollar for every 'Carvana bankruptcy immenient' style video
Did we say it’s imminent? No. I think we unpacked both sides pretty fairly. FWIW I’m still “betting against” them long term because of their debt load, but BK is not likely in the near future. Maybe not ever.
Who is Carvana’s auditor?
Is that a rhetorical question?
@ the auditor should catch any bullshit.
@@switchcarsI doubt it. Think Edward Anderson auditing Enron.
@@rydplrs71agreed. Hence why I asked if it was rhetorical, maybe he knew something about the auditors that we didn’t
VINWIKI!
All i got from this was to short ally
haha that's one way to look at it
I'm surprised no one is talking about their wholesale side of the business.
Wow, what a scammer asking for $700 just for a vin number... I can provide you with G63 vin numbers for $500 each.
The first 4 minutes of pure dribble. Get to the point!