Car valuation tools are nothing new, but it seems that mid-2023 felt like a good time for Carvana to release another one. The online used vehicle seller recently kicked off its own tool, called Carvana Value Tracker, which lets users track values over time.
The company uses mileage, vehicle features, and accident history to help it calculate values, along with an assessment of market trends. You don’t have to buy a car or sell yours to use the tool, but you will have to give Carvana your email and a VIN or license plate number to get started.
Carvana will periodically communicate vehicle value changes to users, though it’s worth noting that the company already does this if you’ve ever started the process of selling. That said, this tool works in a browser and through Carvana’s app, which offers more flexibility than before.
The fluctuating used car market has given Carvana headaches over the last few months, as it took on a significant portion of its inventory at the height of the market. As prices crashed back to reality, Carvana was left holding a bunch of overpriced cars that were out of step with the rest of the market. Earlier this year, the company attempted to restructure its debt, only to be met with resistance from its bondholders, and the road ahead remains challenging for the once-promising company.
[Image: Eric Glenn via Shutterstock]
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from TheTruthAboutCars https://www.thetruthaboutcars.com/cars/news-blog/carvana-just-released-another-used-vehicle-pricing-tool-44502283?utm_medium=auto&utm_source=rss&utm_campaign=all_full
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