So I was looking at selling my leased vehicle and the first place I usually go to is Carmax where they inspect it and give you cash value. I have been using Carmax for years until today.
I don’t like car dealers who offer to trade yours in for less than Carmax because that cheapens the deal.
So I usually approach a dealer only after negotiating for the new car online/phone/email.
I then tried Carvana - a new buying and selling service I heard about on the Audi forum.
Without a physical inspection, done online, answering questions about the condition with your VIN, I got an instant online quote.
Carvana quote was $2,200 more than CarMax and they were willing to stop by and pick her up!
Yes it is real. I think it is possible because Carvana does not have a large sales force, lots of automation, which cuts down on expenses and their prices are higher but people are willing to pay more for less hassle.
Yes, @Ira610 just sold his/her car on Carvana for more than what Carmax offered as well. You better hurry and accept the deal as I don’t see Carvana staying in business much longer (ie Vroom/Beepi).
They picked up the car on June 4th. Now that you mention Carmax… Carvana came in $3100 better than Carmax !!! We’re definitely going to check with them when our Accord Hybrid EX-L lease is close to the end.
Carvana offered me 11,000 for my 2016 Malibu. Woof. I knew it wouldn’t be great, that’s with an accident adjustment, but even without that it’s only 12,254. GM is taking a bath on that one when it goes back lol. My Acadia apparently “stumps their algorithm” and they want my contact info, which I will not be submitting.
I’m sure that they are blowing through tons of funding from Venture Capitalists to build inventory as well, which requires an overpay versus established entities.
I got the same amount offer (about $1000 more than regular dealership) from Kelleys Blue Book’s Instant Cash Offer as well. They gave me couple dealers in my area that participates in their promotion and the dealer told me that they would absolutely honor the offer.
I wonder if is easier to sell it to Carvana or a dealer. What was the time frame for the entire process for carvana?
From my recent experience I would say Carvana is easier.
I tried using Kelly Blue Book. When I reached out to most of the dealers they tried to low ball me on the car. True Car had one dealer make a decent offer but it was out of the way for me to go there. Carvana made me the best offer. They followed up and answered all my questions. The whole process was maybe 6 days start to finish. It probably would have been 3 days but I dragged my feet on making the appraisal appointment. On the back-end it took 9 days for their check to reach Nissan Financial. The account is now closed and I paid in full.
The lease on my 2016 VW EGolf ends in October. I contacted Carvana and they offered to buy my car for $1500 more than the current buyout value. It’s a no-brainer if it’s for real - I would avoid the disposition fee, mileage overage, etc. Has anyone had success with selling to Carvana? Are there any pitfalls to look out for? Is the paperwork an easy process?
I sold a car to vroom.com before and the process was really easy. Wasn’t a lease but it was a car with a loan. THey paid the loan off and wired me the remaining balance. I’m sure carvana is the same
