How many months into your lease did you sell to Carvana/Vroom/Carmax/Algo

LOL
I was asking because I have a similar situation that @LeaseNYC has. I just signed a lease, car is being delivered tomorrow, but it looks like I already have some positive equity in it. Like 2-3K. Im guessing that means I should sell and get another one

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what car is it ?

2020 Velar

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which car did you sell after 7 days? Which bank was it with?

hyundai, HMF

made 4 payments on my Ioniq before making $2k selling it to CarvVroom (I honestly don’t remember which).
Tried to sell it 2 mos in for $2500 but then that whole “we aren’t buying cars” thing happened for a short time.
Sold my Stelvio for exactly buyout 4 mos in as well.
Now sold the X2 for $1700 over buyout at month 29.

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Any issues at all with the bank or credit score when buying out lease that early?

not with bank, just dmv took a lot of time to make title, send to hmf, then hmf sends to dealer who bought from me. took 2 months total

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Doesn’t Carvana deal with the title part themselves?

Carvana or any other buyer needs the lessor to have the title. Think he’s saying the car was so new even the lessor hadn’t received the title from the DMV.

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Sold my 2018 Forester to Carvana 22 months into a 36 month lease. A stellar deal; they offered $700 more than I could have obtained from any dealer, near local "Private Party’ sales price. Best of all, I walked away with a $3600 check for the difference between the residual and their price. Net cost of my Subaru worked out to less than $120 per month of ownership.

Got it. But what the car paid off with the bank while they waited for the title? We’re you actively involved or it was back door stuff between bank and the buyer?

I sold to a Honda dealer and we decided id get paid after deal is done (title in hand)

I was basically doing all the work lol, calling the dealer who I bought it from so they can submit title only application and calling HMF title department so they can mail the title asap once they receive from DMV

Ahh got it. I wonder if it would have been different had you sold to Carvana/vroom etc

ya I think id get my 2k upfront and wouldn’t deal with the other stuff lol because I got my :money_with_wings: also vroom offered me the 2k but I matched it with the dealer because it saved me from renting a car to drive to MD

DMV shows that my title will not be issued to the lien holder until 5/1. Does that mean Carvana/Vroom will not purchase my vehicle until the title has been issued to the lien holder?

Where does it say that? I’m in NY too but i can’t see any place on mydmv that says title issuance date

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20 months into 24 month lease on a Tacoma. Almost sold it to Vroom. Checked other online retailers and Carmax. Got kbb instant cash offer at the last minute, and my local dealer called me instantly and offered 2k more than vroom. Ended up with 4K total equity plus 1k of fees I didn’t have to pay at lease end.

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