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03: Which "them" was it? Carvana or Carmax?

The desirable business model in the stock market world, or in any other business, was "Buy low, sell high".

If some company's model is now "Buy high, sell low", I don't see profits for them in my crystal ball.

SIA

surprise_i'm_armed wrote: ↑Mon Apr 10, 2023 4:34 pm 03: Which "them" was it? Carvana or Carmax?

The desirable business model in the stock market world, or in any other business, was "Buy low, sell high".

If some company's model is now "Buy high, sell low", I don't see profits for them in my crystal ball.

SIA

I just sent her a text to be sure. She said it was Vroom. I just assumed it was Carvana. They all seem the same to me. To be honest, I had told her to run away. That it just did not make any sense. She is 42 and doesn't always listen to me. So far the car runs great so I am not sure why they would do such a thing. She told me they were over paying like crazy for trade in cars at the time. I said, " Do you think?'. Hahaha Maybe things were so slow due to Covid, they were just trying to turn over inventory. We have done things like that in my business as well. Just trying to get cash flow going.

srothstein wrote: ↑Sun Apr 02, 2023 7:43 pmAlso, if you buy it here,yo pay the sales tax on the actual price of the vehicle, but if you buy it out of state you have to pay the sales tax on the retail book value of the vehicle. That is rarely what you think it will be or close to what you paid.

It's now the standard presumptive value or actual price paid, whichever is higher.

https://www.txdmv.gov/standard-presumptive-calculator

Maybe things were so slow due to Covid, they were just trying to turn over inventory. We have done things like that in my business as well. Just trying to get cash flow going.

This reminds me of the novice businessman who bought a bunch of machines that allowed customers to exchange a dollar bill for 4 quarters.

He was doing his books one night, and found that he was not making any money.

Well, he says to his bride "I've got to get a lot more machines!" :-)

SIA

wheelgun1958 wrote: ↑Mon Apr 10, 2023 6:58 pm

srothstein wrote: ↑Sun Apr 02, 2023 7:43 pmAlso, if you buy it here,yo pay the sales tax on the actual price of the vehicle, but if you buy it out of state you have to pay the sales tax on the retail book value of the vehicle. That is rarely what you think it will be or close to what you paid.

It's now the standard presumptive value or actual price paid, whichever is higher.

https://www.txdmv.gov/standard-presumptive-calculator

Looks like SPV for the trucks I am looking at is MUCH lower than the sales price would be, so nothing more than the standard 6.25% sales tax that would be assessed regardless.


As for the comments regarding Carvana and associated business, I tend to stay away anyway. I like buying from name brand dealerships (Ford/GM), as I've had better luck period. I've heard many horror stories about Carvana.