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Man Sells Seven-Year-Old Car For More Than He Bought It

Anish Vij

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Man Sells Seven-Year-Old Car For More Than He Bought It

Featured Image Credit: Sean Hollister/The Verge

A man who purchased a Honda Fit seven years ago was remarkably able to make a profit after selling his car to startup company Carvana.

Tech reporter Sean Hollister says that, despite all these years, the vehicle remained in decent condition.

He claims that the 'low mileage, no accidents, and desirable trim' were all contributing factors to getting a good price for his car.

However, the fact he made a profit from it, massively surprised him.

He wrote in The Verge: "Used cars almost never sell for more than their original price, and the company knew next to nothing about me."

Credit: Sean Hollister/The Verge
Credit: Sean Hollister/The Verge

Sean says he bought the Honda Fit 'right off the lot' and 'it had 23 miles'.

He purchased the car back in December 2014 for $20,814.80 (£15,318.55).

Fast forward to December 2021, he claims Carvana, most remarkably, cut him a cheque for $20,905 (£15,384.93).

He was left with a profit of $90.20 (£66.38).

Sean wrote: "Carvana’s algorithm had agreed to pay $20K (£14,718.90) for my car sight-unseen, even bring a pre-printed check to my door, before any inspection took place.

"The online quote arrived so fast, I knew a human couldn’t have been involved."

He added: "On Tuesday, December 14th, at 4.46pm, the Carvana agent rang to say she was waiting outside, ready to relieve me of my wheels. 

Credit: Sean Hollister/The Verge
Credit: Sean Hollister/The Verge

"I handed over the keys, and she got to work checking the odometer, tapping information into her tablet, taking a few cursory pictures, but she performed no mechanical inspection and asked no questions.

"Just sign the title, sign away ownership, sign for smog inspection, and here’s your pre-printed check.

"Later that week, my bank told me the check looked fine and credited half the balance to my account. The rest cleared the day before Christmas."

Credit: Sean Hollister/The Verge
Credit: Sean Hollister/The Verge

Charlie Chesbrough, senior economist at Cox Automotive, has been an analyst for 20-years and was stunned by what happened.

He said: "I’ve heard crazy stories, but I haven’t quite heard one with a seven-year-old vehicle selling for more than you originally paid.

"The only time we might have seen something similar to this was during World War II when the factories for making vehicles shut down, and they switched over to making airplanes."

Topics: Cars

Anish Vij
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