by Chris Black
What they really do is use massive loans to corner the used car market, thus driving up prices and making it impossible to purchase a car anywhere else.
Carvana and the other publicly traded vultures are the real reason why used cars doubled in price over the last three years.
Why exactly should a 2009 Honda that could be bought in 2018 for $6500, be worth $18,000 in 2023, actually selling for more than it cost brand new in 2009?
The company just needs to die.
Carvana Surges After Announcing Restructuring Which Would Shrink Debt By $1.3 Billion, Slash Interest By $100 Million https://t.co/dtbuSMRRlk
— zerohedge (@zerohedge) March 22, 2023