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re: Is Carvana about to go belly up?
Posted on 11/4/22 at 11:25 pm to hikingfan
Posted on 11/4/22 at 11:25 pm to hikingfan
This was inevitable the company is run by literal crooks. Garcia III literally plead guilty to bank fraud in his previous business. He used carvana and drive time to make himself rich.
Carvana did not even make money during the peak run up of used car prices. They thought that they could only grow by buying up inventory at inflated prices. Now that used car prices are falling rapidly, they are doubly screwed since now they have no one buying their depreciating vehicles. Plus they borrowed money to buy these vehicles and interest rates are rising fast.
I have no doubt that some bank will loan them some money to extend them some money. But bankruptcy is inevitable. Garcia gets rich and stock holders are left with the bag
Carvana did not even make money during the peak run up of used car prices. They thought that they could only grow by buying up inventory at inflated prices. Now that used car prices are falling rapidly, they are doubly screwed since now they have no one buying their depreciating vehicles. Plus they borrowed money to buy these vehicles and interest rates are rising fast.
I have no doubt that some bank will loan them some money to extend them some money. But bankruptcy is inevitable. Garcia gets rich and stock holders are left with the bag
2
Posted on 11/5/22 at 8:15 am to UltimaParadox
Why are used car prices falling rapidly? I didn’t realize this was happening
Posted on 11/18/22 at 4:03 pm to UltimaParadox
quote:
Carvana did not even make money during the peak run up of used car prices. They thought that they could only grow by buying up inventory at inflated prices. Now that used car prices are falling rapidly, they are doubly screwed since now they have no one buying their depreciating vehicles. Plus they borrowed money to buy these vehicles and interest rates are rising fast.
It's the reason used Tesla prices were so absurd and now you are seeing this spill into those prices crashing. I knew it and was gaslit about this scam years ago when I was obsessed with Tesla being a fraud.
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