Lease Sale to Carvana

I sold my 2016 Mazda CX5 GT to Carvana this morning. It was a 33 month lease that was coming to term this month. The whole process was rather painless with vast majority being completed online, including initial quote. They came right to my house, picked it up, and handed me a check which I cashed same day.

Selling Price 22,105
Payoff Amount 19,518.23

Payment to me 2,586.77

One thing to note is my CX5 was extremely under allotted mileage at 15k out of a possible 36k (33mo / 12k term). It was also in immaculate condition since I tend to take great care of my vehicles. However, I think I still would have been given a fairly significant payment even if the mileage was closer to the full amount.

For anyone near lease end, I fully recommend checking out Carvana. Considering I would have had to pay Mazda to take the lease back in a few weeks, I would have been happy with just about any amount offered. The 2.5k is just beyond what I would have imagined possible at the end of leasing a vehicle.

This cash on top of my deal on the 2018 F150 I picked up last week make me feel like a bandit. The all black wearing kind that saves damsels and takes no guff from the man.

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Nice good to hear. Sounds like Carvana is a bit like an online version of Carmax.

But carmax makes money while carvana lites it on fire. It’s great while they are here/operate like this but it can’t last long term.

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Have you gotten the quote from Vroom.com as well? I did Carvana and Vroom and Vroom offered $3500 more for my RX350 than Carvana and Carmax.

I got a quote from VROOM.com about $2K under what KBB says what a fair condition car should be. The car I asked a quote on has 6.5K miles on a 36K mile lease (currently on month 31 of 36) , needs nothing and is in great condition.

I will have to try Carvana instead and see if I can get a better deal like @WolfsRain.

Similar experience with vroom

I tried both and vroom was $2500 above carvana. Guess there is no right answer. Try both and go with the better offer.

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Just for s&g’s I checked vroom’s offer. They gave me a quote of 21,750. Not as drastic as some previous posters, but Carvana still comes out 355 dollars ahead. I’d agree with @Qbrozen, check everyone and just go with the best offer.

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Carvana offered me 2k less than Vroom for my CRV

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Carvana offered me $1k above Vroom but still way below my current lease payoff. It is definitely a good idea to get as many appraisals as possible, you never know who will offer the best price…

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I saw a Carvana truck picking up a Leaf in the parking lot. I asked the owner how he ended up selling to them…he had listed it on craigslist and Carvana contacted him and paid him over asking!

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It probably just depends on Vroom or Carvana inventory and how much they’re willing to overpay to stock inventory and acquire customers. I just sold an RX350 and Vroom offered me $40k while Carvana only offered $37,xxx. Carmax and local dealers were all between $35.5k and $37k.

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They offered me $500 more than Vroom on my Q50, but still below the residual so no positive equity for me. Granted it’s at the very end of a 39 month lease with 38,850 miles on it!

Vroom offered $18,500 and Carvana offered about $19,000

But the residual is $22,600

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Vroom 0 - Carvana 1. Quoted me $1,229 more for my Forester, about $200 more than KBB’s mid-range in excellent condition.

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But the real question is whether they will give you more than the buyout on your S60. :wink:

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Don’t care anymore. Will ride it to the end, no problem. Same is with Forester for another year.

Got a quote from vroom but they mentioned the buyout of a lease would be a different amount for a third party compared to what an individual would pay. They advised I go to an audi or vw dealership to ask what the third party buyout amount is. Anyone experience anything similar?

I just got a quote from Carvana for my 2019 Toyota corolla Hatchback SE in Galactic Aqua with 27 mo left on the 36 mo lease at 370.58 a month with all maintenance paid for. Buyout would be about 20, 165.00 or something close to that, they only offered me 16,070. But I did say that I had a loan amount left of only 10, 090 or something which is was the payments would come out to? Did I do that wrong, should I have said I had 20k left for the loan? I feel like an idiot when it comes to this vehicle and financial crap. I am still waiting for the Vroom quote…UPDATE…Vroom offered me $16,700! I like it, however, I was hoping for closer to 18 to make it worth it.

It sounds like you have $4k in negative equity according to Carvana. Try to learn as much as you can about how lease calculations work, so you can improve your deals moving forward. It might take a few hours of work/learning, but could save you thousands of dollars over your lifetime - a great value for the effort.

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Thanks pizza8822,

I am still trying to wrap my head around not getting screwed when it comes to vehicles lol
At least I am making an effort to learn from my mistakes…:slight_smile: