Strongly considering buying my leased Grand Cherokee for $24k, tax included (no payments left). Carvana offered $29k when I checked a week ago. Problem is it may take US Bank 10+ days to get me title once they receive check.
So, before I pull trigger on this – is there any realistic chance the Carvana offer drops by like $4k in a 2-week period? I know it’s really volatile and nobody can say for sure, but I just want to make sure I’m not going to be stuck with a zero equity Jeep.
There always is a chance, could drop in 2 weeks…could go up
From recent news, you should be good through June.
The demand is sending used-car costs soaring. The Manheim Index, which measures prices at wholesale auctions, shows they’re 52% higher than they were a year ago. “We expect to see records in the Manheim Index through June before demand softens enough to align with supply trends,” said Jonathan Smoke, chief economist of Cox Automotive, which owns Manheim, the nation’s largest used-car auction. “We expect retail prices to continue to rise into the summer, as retail trends tend to follow wholesale trends with a six-week lag.”
I just dropped my 2020 XC40 T5 R-Design off at a Manheim auction after GiveMeTheVin.com made me an offer I couldn’t refuse.
2 weeks should be fine.
To give you an indication, last week CarMax offered $38,400 for my Volvo. Today it was $39,200. Vroom offered $40,869, but support isn’t… great.
Sold to GMTV for $40,250 and $2900 towards a down payment on a Y.
I’d take that bet. Think things are only going to get worse for the next few months.
What’s GMTV?
Sorry, GiveMeTheVin.com - They don’t do advertising in the tri-state area, to the point of the GM wondering how I heard of them. Gave them a heads up on LH and asked if they worked with all leases.
He replied NP, VCFS isn’t an issue for them, and made my XC40 process smooth as butter
When I traded in my car in 2019 - I could choose a pick up date up to 30 days away.
The carvana offer on my passport is about $2500 lower right now than it was a week or two ago
might want to confirm that USB will allow a sale of a FCA product in the last 2 months before maturity. C-Cap does not.
Looks like he’s buying out the lease personally, not 3rd party selling
Greetings,
How much time they gave you from the moment you got the offer to the moment you handed in the car? Thanks
Not sure of the question, I’ll answer both (bit tired)
Just checked. Car is gone from my VCFS account, I login and it asks me to add an account. Smooth process, all done remotely via Overnight FedEx and calls.
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