Barron's: Car Repos Are Exploding. That’s a Bad Omen.

[entremet]

Carmax has never really been a good deal IMO. Whenever I've looked at their inventory, even before covid prices, they've always been a bit more expensive, and the the condition of the cars hasn't looked that great. Or at least that's how its been for the models I've looked at.

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Same with Carvana.

 

[Marshall]

I have a 5 year $700 payment. But mine is an EV and the monetary savings in gas are insane. I'd never in a million years pay that much and also be bleeding gas money over the life of the vehicle.

 

[turbobrick]

Same with Carvana.

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Yep. Whenever I've looked at Carvana cars, there's always damage in the pictures, yet they're charging more than I see other places. Maybe they think its worth it to people to avoid a dealership.

 

[Teiresias]

Carmax has never really been a good deal IMO. Whenever I've looked at their inventory, even before covid prices, they've always been a bit more expensive, and the the condition of the cars hasn't looked that great. Or at least that's how its been for the models I've looked at.

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My partner's car came from CarMax and has was a good price, in good condition, and has been a great buy, but that was years before COVID, so they obviously can change.

 

[Ottaro]

I have a 5 year $700 payment. But mine is an EV and the monetary savings in gas are insane. I'd never in a million years pay that much and also be bleeding gas money over the life of the vehicle.

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Just curious, but how much would you say you're spending in electricity to charge it?

 

[Marshall]

Just curious, but how much would you say you're spending in electricity to charge it?

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About $25/month. I pay $.048/KWh and that gets me on average 3 miles.

We've put on 20,000 miles in 13 months of ownership. When comparing that to a gas car that gets 29 mpg @ $4/ gal we saved $2758 on those miles. It lessens the hurt of a temporary high car payment.