Ditto. You're pretty much spot on with the basic details I've noticed in news reports since Carvana came on the scene back in about 2019. I wouldn't go near that place as a car buyer or an investor.
I agree they’re a good company. They make a simple hassle free they don’t make you feel bad if you don’t have a $800 credit score in the warranty that they offer are not horrible. Silver Rock is probably the better warranty company out of all the ones that are out there very reliable very dependable no BS no questions. Asked if you have the coverage available to you.
While it certainly looks like there’s some shady business practices going on, on the consumer level I had a pretty good experience buying a car from Carvana last fall.
Absolutely the worst car buying experience I’ve ever had. “Get your car by Friday” really means “get your car by some Friday in a month or two maybe if you’re lucky”
Fantastic video, thank you! It seems the markets are filled with overinflated valuations. Between Carvana, Tesla and AI companies like NVIDIA valuations are through the roof. This does remind me of the conditions just before the internet bust around 2000. My parents had a penny stock named Rare Medium that was close to bankrupt but somehow turned things around by declaring that they were an "internet" play and their stock went up thousands of percent. And the company made no money. This seems a lot like back then.
Cash buyers or BYO financing buyers (esp from a credit union) can get a great deal from them- use their system to your benefit! I’ve bought and sold from Carvana. Both were easy and seamless and financially I benefited.
Nice analysis - content is succinct and informative. I just worry about Aubrey's heating in her studio... looks like she needs to wear a winter knit hat indoors since it's so cold in there. Poor Aubrey... get that HVAC tech in to help so you don't need to wear that silly cap anymore to create your content. Found it distracting and hard to take things seriously regardless of how well it was researched and delivered. I do find Aubrey's content as some of the best produced for this subject matter.
Here’s all you need to know about Garcia: In 1990 he pled guilty to a felony bank fraud charge for his role in the Lincoln Savings and Loan Association collapse.
Traded my car in to Carvana! They offered me more for my trade than than anyone local would by almost $2400. I had an awesome experience with Carvana in December. Screw all the local dealerships, they're shyster and even more greasy fingered. I hope Carvana survives.
I bought a 2018 Honda Fit-EXL in January 2023 with 44k miles. I did not have the vehicle checked out by a mechanic (which I should have, apparently) because it needed $4000 worth of fuel injector work. It appeared to run properly when I purchased it. I paid $15,000 for it (from a Kia dealer in Anderson, SC - bunch of thieves.) THREE MONTHS LATER I sold it to Carvana for $15,000. I wish I had made ZERO repairs before I sold it but I spent $2000 fixing the rattling noise that it made when starting (figured they might not take it had I not at least done that.) They didn't even look the car over at all. It was raining and the guy was like, "cool. Here is your check." I pitty the undeserving soul that bought that piece of chit. Replaced it with a 2010 Lexus RX-350 and never looked back. I will never own another late model Honda. They are garbage. Carvana does not inspect anything when you sell it. At all. Hard stop.
Sounds like a mixed experience for consumers. The bright side is as long as one can make payments one might’ve gotten a good price or if one can’t the loan might get extended. The down side is one have had to wait for the car ordered and it might have had (might have?) a few title issues. For investors of those buying these securities, once it goes South, the bank(s) stop(s) buying, more defaults and a cash crunch whoever is holding the loans has to go repo route - right? They might find by extending the loans the cars are not merely “underwater” but at the “bottom sunk deep into the muck” because the cars are older and have depreciated further. Or are abandoned. IMO Smells a bit like ERON. Don’t pay any attention to the buyer behind the curtain to see who bought these debts. Who does Carv’a’s auditing? What was that firm that did Enron’s?
I like Carmax. High prices but no haggle, no games, great Maxcare warranty available. Best buy here pay here with warranty for people who have bad credit. Best price? No!!! Plus a return policy. Consumer friendly. At a high price. Value is more than just the lowest price.
No, you can’t manipulate a company into an IPO, shuffle assets around, inflate subprime loans to offload onto a buyer, and simultaneously have shorts opened on the stock to offset the losses. You c-c-can't just do that! Think of the subprime borrowers! Think about the government relying on the tax revenue this generates! Most importantly, think of the people who will suffer, only to become the next talking point for a politician to grift their way into office. But hey, at least we can *shuffles deck* take a THC drag in public while mocking sky daddy, right? Totally worth it.
Wow I got lucky. My Porsche was totaled by an Asian driver who ran a red light. They only sold 3,214 of my model. Took me 2 years to find one with similar options. Paid below market rate, one owner car, Porsche dealer serviced, low miles. Carvana shipped car from Tucson Az to South Mexifornia land of the Democrat for free. Title arrived to my PO Box in 10 days . Paid via a wire transfer. Wanted to use my Amex for points but manager said nope. Delivery experience was comical vending machine thing.
Only a couple of weeks left for our New Year Sale! Use code NEWYEAR215 & Get $215 off The Car Sharing Masterclass: www.thecarsharingmasterclass.com
I have background in finance..you have done a great job in explaining a very complicated accounting story..job well done
Thank you! Means a lot❤️
Ditto. You're pretty much spot on with the basic details I've noticed in news reports since Carvana came on the scene back in about 2019. I wouldn't go near that place as a car buyer or an investor.
Carvana gave me unsafe damaged cars that were misrepresented and equivalent to fraud. This is the shadiest company in the Auto industry.
Carvana is GREAT at buying garbage, sight unseen. I can't imagine being on the buyer's side based on the lemon I sold them.
When the shady used car dealer goes corporate.
Reminds me of the line in Ghostbusters “let’s spread out…we can do more damage that way”
Excellent coverage! Love the detailed analysis.
Very well done video. You should be reporting for the Wall Street Journal.
Go Leafs Go! You’re very smart Aubrey. Thanks for the master class in the automotive industry.
You are a master at explaining things well. How have I not found your channel until now? Excellent research and great video. Keep it up!
Traded my car in for a truck this past April. I knew of some of the issues but my experience was 100% the easiest process imaginable.
I agree they’re a good company. They make a simple hassle free they don’t make you feel bad if you don’t have a $800 credit score in the warranty that they offer are not horrible. Silver Rock is probably the better warranty company out of all the ones that are out there very reliable very dependable no BS no questions. Asked if you have the coverage available to you.
While it certainly looks like there’s some shady business practices going on, on the consumer level I had a pretty good experience buying a car from Carvana last fall.
I sold a car to carvana once. I had to tell the guy that he needed the title before he drove away.
Absolutely the worst car buying experience I’ve ever had. “Get your car by Friday” really means “get your car by some Friday in a month or two maybe if you’re lucky”
And they always mess up other things too, send cars with mechanical problems
@@ozzietorres149 that is what happens when you don't even look at the car when you get your check. I know this personally. SUCKERS!!!!!
Fantastic video, thank you! It seems the markets are filled with overinflated valuations. Between Carvana, Tesla and AI companies like NVIDIA valuations are through the roof. This does remind me of the conditions just before the internet bust around 2000. My parents had a penny stock named Rare Medium that was close to bankrupt but somehow turned things around by declaring that they were an "internet" play and their stock went up thousands of percent. And the company made no money. This seems a lot like back then.
And you know about the quantum computer stocks
Cash buyers or BYO financing buyers (esp from a credit union) can get a great deal from them- use their system to your benefit! I’ve bought and sold from Carvana. Both were easy and seamless and financially I benefited.
Love your channel
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Well done.😀
Nice analysis - content is succinct and informative. I just worry about Aubrey's heating in her studio... looks like she needs to wear a winter knit hat indoors since it's so cold in there. Poor Aubrey... get that HVAC tech in to help so you don't need to wear that silly cap anymore to create your content. Found it distracting and hard to take things seriously regardless of how well it was researched and delivered. I do find Aubrey's content as some of the best produced for this subject matter.
I bought a 2023 4Runner through carvana last year. The loan originated with bridgecrest. Not Carvana.
@joe_ferreira they're related party entities
@@republicandan thanks, that makes more sense now.
Here’s all you need to know about Garcia:
In 1990 he pled guilty to a felony bank fraud charge for his role in the Lincoln Savings and Loan Association collapse.
Sound effects are SO DISTRACTINGLY LOUD
Traded my car in to Carvana! They offered me more for my trade than than anyone local would by almost $2400. I had an awesome experience with Carvana in December. Screw all the local dealerships, they're shyster and even more greasy fingered. I hope Carvana survives.
That's great for you. Sounds like bad business for them.
Great summary, thanks. Calling a loan on a used car an asset seems sus, what could go wrong?
Dan Quayle? All I can say is that he is NO Jack Kennedy, that's for sure!
@Cbiz210 But he knew that single motherhood would damage the children.
WOW…… The first clue was the Carvana vending machine!
You guys are so under-rated! I love your storytelling techniques and research. Top notch! Some of your best content to date! Great job!
Wow. Well done! Start buying leap puts
I bought a 2018 Honda Fit-EXL in January 2023 with 44k miles. I did not have the vehicle checked out by a mechanic (which I should have, apparently) because it needed $4000 worth of fuel injector work. It appeared to run properly when I purchased it. I paid $15,000 for it (from a Kia dealer in Anderson, SC - bunch of thieves.) THREE MONTHS LATER I sold it to Carvana for $15,000. I wish I had made ZERO repairs before I sold it but I spent $2000 fixing the rattling noise that it made when starting (figured they might not take it had I not at least done that.) They didn't even look the car over at all. It was raining and the guy was like, "cool. Here is your check." I pitty the undeserving soul that bought that piece of chit. Replaced it with a 2010 Lexus RX-350 and never looked back. I will never own another late model Honda. They are garbage. Carvana does not inspect anything when you sell it. At all. Hard stop.
Who in the 1st place would buy anything from Carvana? Their financial shysters.
Ahhh too many jump cuts
Also warranties.
Awesome reporting, Aubrey!!! No Carvana for me!!!!😂😂😂😂😂😂😂
Sounds like a mixed experience for consumers. The bright side is as long as one can make payments one might’ve gotten a good price or if one can’t the loan might get extended. The down side is one have had to wait for the car ordered and it might have had (might have?) a few title issues.
For investors of those buying these securities, once it goes South, the bank(s) stop(s) buying, more defaults and a cash crunch whoever is holding the loans has to go repo route - right? They might find by extending the loans the cars are not merely “underwater” but at the “bottom sunk deep into the muck” because the cars are older and have depreciated further. Or are abandoned.
IMO Smells a bit like ERON. Don’t pay any attention to the buyer behind the curtain to see who bought these debts. Who does Carv’a’s auditing? What was that firm that did Enron’s?
Ally Financial renew their contract for 4bln 2025-2026. They stock rebounded.
Wow! Where’s the SEC?
When they get done here, they need to investigate the Bidens.
@@andyspinballabout what? Maybe they can investigate the Trump's along side the bidens and see which family has more fraud involved
Completely dismantled.
ALL I CAN PAY ATTNTION TO IS YOUR EPIX
seriously! whats the battery life on that like?
Hindenburg is almost never wrong.
Something tells me daddy will pay a fine of much less than 3.6B and walk away
I like Carmax. High prices but no haggle, no games, great Maxcare warranty available. Best buy here pay here with warranty for people who have bad credit. Best price? No!!! Plus a return policy. Consumer friendly. At a high price. Value is more than just the lowest price.
….until they can’t produce the cars Title😂
So here's Aubrey Janik in a bubble bath to explain.
Margot Robbie in a Leafs toque.
11:57: HELLO! Dan Quayle was Vice President of the United States under George Bush from 1989-1993.
How 'bout adressing the elephant in the room? Why does Turo allow rentals to psychos and terrorists?
Scammers 💯
So he pumped and dumped.
That's all companies do now-a-days. Not like the government is going to do anything about it, they tax the income made from these schemes.
Money laundering
More like fraud
sounds like your typical used car salesman ...
Did she just eake up out of bed?
Why on earth didnt u mention that hildenberg group are basically shorters?
No, you can’t manipulate a company into an IPO, shuffle assets around, inflate subprime loans to offload onto a buyer, and simultaneously have shorts opened on the stock to offset the losses. You c-c-can't just do that! Think of the subprime borrowers! Think about the government relying on the tax revenue this generates! Most importantly, think of the people who will suffer, only to become the next talking point for a politician to grift their way into office. But hey, at least we can *shuffles deck* take a THC drag in public while mocking sky daddy, right? Totally worth it.
Wow I got lucky. My Porsche was totaled by an Asian driver who ran a red light. They only sold 3,214 of my model. Took me 2 years to find one with similar options. Paid below market rate, one owner car, Porsche dealer serviced, low miles. Carvana shipped car from Tucson Az to South Mexifornia land of the Democrat for free. Title arrived to my PO Box in 10 days . Paid via a wire transfer. Wanted to use my Amex for points but manager said nope. Delivery experience was comical vending machine thing.
Love the channel but wish I could slow down the commentary 🙂
You can change the playback speed 😊