LOL I wouldn't go that far. It's still a lower rate than average. They could've offered 0 incentives. Obviously they're trying to more aggressively move the vehicles they have more inventory of.
But yeah people with shitty credit are screwing themselves with double-digit APRs.
That's just it. They get you though by any actual desirable car, you can't get new. Only "Used" with 2k miles on it (above MSRP).
When I bought my R (my current one, not my prior one), I just went with Carvana's financing at first, with the intention of refinancing immediately. They didn't even do a hard inquiry on my credit, and offered me an 18% interest rate on a $39k car. It was absurd.
I made one payment, and refinanced with DCU at 6.9% Which itself is still a crappy rate, but when their lowest advertised rate for perfect credit was 6.7%, it's not that bad in perspective.
The original finance doc from Carvana was crazy. If I kept the loan for it's full term, it was something like $24,000 in interest alone. Fucking bonkers.