Used F150s Sold for $3,500 More on Carmigo in October than Carvana and Vroom

[carmigo]

In October, F150s on the Carmigo marketplace sold for 20% more than what Vroom and Carvana offered, which comes out to thousands of extra dollars on nearly every F150 we sold last month.

For instance, a 2018 F150 with 81,523 miles sold on the Carmigo marketplace for about $4,000 more than Carvana and Vroom offered.

In fact, all Carmigo cars, on average, sold for $2,500 more than the Vroom and Carvana were willing to offer.

But that’s not a universal guarantee. One of those F150s sold for only 2% more than it would have on Carvana, barely covering the $350 Carmigo sell fee.

Here’s the catch. The market is not going up right now. It’s still higher than its been in years, but compared with this summer's record-breaking prices it feels low.

So if you’re thinking about selling, just know prices are going to fall for a while (though that’s good news if you’re buying).

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Here’s why we think our prices are consistently higher: We have a whole network of buyers. Wholesale buyers all over the nation use Carmigo to keep their dealerships stocked with quality used cars. With the Carmigo marketplace, they don’t have to spend their days inspecting trade-ins. They can shop for exactly what they need from their phone.

Trade-in and online dealership offers usually only consider the needs of one dealership. The local Chevy dealership, just like Carmax, is only buying cars based on their individual needs.

By adding more buyers to the mix, Carmigo is expanding the set of needs.
If you need to sell your car as the market is on its way down, Carmigo can get you multiple offers fast.

Plus, there’s no obligation. If you can’t get what you want on Carmigo, take it to Carvana, Vroom, or Frank’s Big Four Ford. And in a falling market, 20% can mean a lot, so you might as well try.

A couple of notes: (1) This is a limited data set (a handful of F150s we’ve recently sold that we could also get Vroom and Carvana data for). (2) We’re the ones who put the data together (and we’re a little biased), so take it with a grain of salt.

 

[Newman]

In my opinion these sites suck! I got offered 35k for a vehicle and I traded it in to the dealer when I bought my new truck. for 57k! That's quite a difference.

 

[carmigo]

That’s a solid offer compared with those online dealers. Next time you sell, throw it up on Carmigo for a day and see if one of our buyers can beat your local trade in.

 

[redline]

Does this work in Canada?

 

[carmigo]

Does this work in Canada?

Kyle, we can't sell cars from Canada, so sorry about that.

 

[carmigo]

In my opinion these sites suck! I got offered 35k for a vehicle and I traded it in to the dealer when I bought my new truck. for 57k! That's quite a difference.

Hey there! We are so sorry to hear that. We are glad that you were able to trade it in though. At Carmigo, we don't give outright offers. We don't buy your vehicle, but instead, list it on a marketplace with several buyers (dealerships) that bid on your vehicle. You get to decide the reserve price and do not pay a dime unless it sells for that amount. The number Carmigo quotes you is a suggested amount that you can adjust. As with any auction, that starting bid is often not the final one and our platform allows you to get offers from multiple dealerships. In the end, if it doesn't work out, there is no risk.

 

[erixgix]

I did take a look and started a listing. I get the sense this would be better for older or low feature set trucks.

While the flow is simple enough, functionality is pretty lacking, as are appropriate option selections that have a large effect on price (powerboost, blue cruise, moonroof, etc). Its set up to use your camera in while on the website vs allow use of camera roll from recent pics already taken. If the idea was its a ‘current’ pic vs assuming someone is posting a misrepresentation…that should be rethought imo. limits when you can post or need to take time out to go do it or wait for weather conditions (everyone one knows pretty pictures = more $$$).

The kicker for me was when the site was adamant that my iphone 12 was not a mobile device so would not cooperate or proceed. If it doesn’t recognize safari or tell you up front it only works on browser xyz, that needs refactoring as well.

Not seeing it for my 22 high feature truck…maybe for some beater that Carvana et al lowball.

 

[carmigo]

I did take a look and started a listing. I get the sense this would be better for older or low feature set trucks.

While the flow is simple enough, functionality is pretty lacking, as are appropriate option selections that have a large effect on price (powerboost, blue cruise, moonroof, etc). Its set up to use your camera in while on the website vs allow use of camera roll from recent pics already taken. If the idea was its a ‘current’ pic vs assuming someone is posting a misrepresentation…that should be rethought imo. limits when you can post or need to take time out to go do it or wait for weather conditions (everyone one knows pretty pictures = more $$$).

The kicker for me was when the site was adamant that my iphone 12 was not a mobile device so would not cooperate or proceed. If it doesn’t recognize safari or tell you up front it only works on browser xyz, that needs refactoring as well.

Not seeing it for my 22 high feature truck…maybe for some beater that Carvana et al lowball.

Hey There! This is very thorough and we appreciate it. We are a growing company and try to improve every day. Posts like these help us find blind spots in our process, so this is going to help us fix so many things going forward. We've shared this with the team and hopefully, the next time you check us out, we will have improved.

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