Trade in valuations from Rivian

[Gamma rays]

I just went to a bunch of the local car dealers. Nissan just happened to be on the same street as a couple others so I stopped in and asked if they were interested in purchasing a used vehicle. They took the VIN and my info and called me later that afternoon with an offer. I stopped at 3 dealers that morning. Was that simple. By the next day, they had the best offer of quite a few I had gathered between in person and online quotes and I accepted it.

edited

Thanks. This turns out to be useful info. Unless the used car market really gets bad next year, I might just go to my local auto row and hit them up for offers!

GR

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[ansky]

Thanks. This turns out to be useful info. Unless the used car market really gets bad next year, I might just go to my local auto row and hit them up for offers!

GR

no worries! Yeah I think if you have the time, the more offers you can bring in, the better

 

[Trandall]

Rivian gave me near the high end of KBB trade in for my 2019 Subaru Ascent so I didn't even bother with other offers, that was last May. Used car market is cooling off pretty quickly, probably thanks to rate hikes.

 

[johstacy]

Has anyone traded in a vehicle for their R1T? Was The valuation fair from Rivian? I have a mint 2017 Escalade I am trading in and KBB shows a trade in value range of $36k-$41k with the mileage I have. Any feedback would be appreciated.

They way undervalued my trade in. I could have easily gotten 5k more due to the demand of used cars. You just have to decide if you want to go through the hassle of doing it yourself.

 

[domoplaytime]

They way undervalued my trade in.

In states like Washington where a trade-in offsets your taxable sale price for a new vehicle, Rivian can get away with offering less and still wind up being the best offer. That was not true for me, with a gain of over $700 by not trading to Rivian, despite the tax savings.

 

[DTown3011]

In states like Washington where a trade-in offsets your taxable sale price for a new vehicle, Rivian can get away with offering less and still wind up being the best offer. That was not true for me, with a gain of over $700 by not trading to Rivian, despite the tax savings.

This is us here in Colorado. We get the sales tax benefit. Is there anyway to get a trade-in value from Rivian prior to the 8step process?

 

[domoplaytime]

Is there anyway to get a trade-in value from Rivian prior to the 8step process?

No, but once they give you an offer they will honor the price (within reason) until you close. You'll have plenty of time to shop around

 

[GHuff]

Rivian trade in offer was 15% (about $6,000) less than Carmax.

 

[COdogman]

Well this would explain why Carvana’s offers have gone to hell quickly:

Carvana Managed to Lose Half a Billion Dollars in the Third Quarter

https://jalopnik.com/carvana-managed-to-lose-half-a-billion-dollars-in-the-t-1849742557

 

[MichaelD]

I had a CarGurus valuation (EV6 with 3k miles) plummet from $49k to $37k over the last 3 weeks. The market appears to be tanking.

 

[Sgt Beavis]

Rivian tends to low ball trade ins. From what I’m seeing, the more expensive your trade, the greater the low ball. Be ready to trade it in elsewhere. Keep in mind that used car prices are coming down hard right now.

 

[MoreTrout]

I had a very bland 2015 Ford Escape with a few dings and around 78k miles. Rivian's offer was around 1/3 from the low end of KBB, which I thought was very reasonable. Not a high price vehicle to begin with, and with the tax benefit of the trade in on the purchase here, it wasn't worth my time or stress to ride around dealing with Carvana, or worse, the slimy dealerships just to hopefully squeeze out a little more. Depending on what vehicle you are trading in and how much time you have, probably worth shopping a little as others have experienced. I also only had a few days between completing the 8 steps and taking delivery. Only 10 days from first notification it was time to lock my configuration and delivery.

I would be wary of Carvana right now. The local one near me just got shut down indefinitely. They were already operating under a probationary status. They were still allowed to sell cars, but had been warned it was illegal for them to do titles, registrations, and plate transfers on the premises due to the archaic dealership anti-competition laws. A local news channel interviewed several customers walking off the lot with their just purchased vehicles showing them the paperwork they just did for titles/registration. They are now banned from any business operations. Then again, if they can cut you a check with the best price and you can cash it before it bounces, no worries on your part.

 

[Puttyandnapalm]

Rivians offer for my Mach e gt came in about 9000 lower than expected.

 

[Biturbowned]

I’m happy with their offer on my 2004 Tacoma, it’s about 20% lower than KBB, but the market is cooling and I’ll take advantage of sales tax reduction. Also easier for me to deal with.

 

[Puttyandnapalm]

Do we think the market will continue to tank in the next month while I wait for the Rivian to arrive? Should I sell it now to best offer?
Rivian offered $52000- other offers I got were $55000-62,500.

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