FYI for anyone in a state such as PA where you have to get Hyundai payoff through a dealer and not directly from HMF. HMF is not playing nice with Carvana, and it has been near IMPOSSIBLE to get the needed documentation to Carvana to finalize the sale of my lease to them.
I want to avoid disposition and the Carvana value is quite good, so I really want to make it work, but there seems to be some games being played by Hyundai to maybe limit the number of cars going to Carvana. This will certainly prevent me from leasing with Hyundai in the future as I like the option to easily get out of the lease should the payoff and value line up right.
As a coincidence to this poster, I am also getting rid of my Elantra Sport (but with manual, not DCT).
Well I hope you are able to sell to them quickly, just keep trying, for some reason the Elantra Sport is getting a huge bump in value from Carvana, so it makes sense to get rid of it while you are basically even (or ahead - considering the disposition fee and mileage fee you’d be looking at).
Normally, they’d just call HMF since they are a dealer and get HMF to fax over the payoff and then you’d be good to go.
My experience so far is that they call HMF for the document and never receive it even after multiple attempts. Alternatively, you may be able to get a local dealer (maybe your originating dealer) to pull a dealer payoff and fax over to Carvana. It should be a quick and easy process, and for most of the other brands its not an issue at all.
Calling Carvana is also faster than waiting for email replies from them.
Call Carvana and request to have 3 way phone call with HMF,. On this phone call Carvana needs to request via fax and email dealer payoff number and Title.
I just got my personal pay off for my 2018 Cherokee trialhawk which is $21525.62 and carvana offered me $21050 but I noticed on my payoff it says it is different from a dealer payoff. I have read the thread which states it could be different for many reasons e.g sales tax.
So I called Chrysler capital and asked for the dealer payoff as right now I’m $509 upside down and he wouldn’t tell me the dealer pay off. I explained I’m may be trading into an online based dealer and he said sorry but I can’t tell you. Well if a dealers payoff doesn’t include sales tax I wouldn’t be upside down correct? This is frustrating because what’s the option…pretend to a dealer that I want to know they payoff just so they can go get it?
Anyone have this issue in the past? Am I correct that if the dealer pay off doesn’t have sales tax and they have a lower payoff would I potentially come out positive on the deal?
It’s this, except you can pull a 10 day payoff yourself pretty easily and upload it with the documents. I have sold 2 cars to Carvana, one was mid lease. It was so easy and pleasant I went out and bought their stock immediately.
only issue is I want to know with Chrysler financial if they have sales tax in my personal payoff. If it is included in my payout but not in dealers does that mean I would come out a little better as their current offer is 500 dollars below my payoff?
My friend just sold Jeep to Carvana. Chrysler finance provided delaer buy out to Carvana with no tax. I asked him to have a 3 way phone call, after that Carvana received dealer 10 day payoff.
A dealer doesn’t have to pay taxes when they buy your car…back out the taxes on the amount they gave you and you’ll have your answer as to how positive / negative or even you’ll be.
Awesome I was reading some horror stories on a Jeep forum where people were saying Chrysler financial were giving out higher payoff amounts to dealers than what the current owner had.
Did he say his payout was more that what the dealer pay out was?
Keep in mind that for some makes (like VW), the difference between personal and dealer quote is not necessarily just tax. They can make up any buyout amount and don’t have to follow the contracted residual amount. So until you actually get your dealer quote (which with our VW was higher than personal payout minus tax) you can’t be sure what your deal will be.
