In process of trying to sell my Kia Niro EV to Vroom and they are pushing back and saying Kia no longer accepts 3rd Party Buyouts as of 5/10. FWIW, registration lists Hyundai as the Lienholder. Anyone else run into this issue?
Hi there,
Can you help me understand how this can work? Iâm in CA. Payoff amount on my Infiniti Q50 is 22.5k. Carvana is offering 28.5k!
Can I pay off Infiniti - and get the electronic title, and sell it to Carvana asap? What steps do I take to avoid CA Sales tax?
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Not true assuming you mean May 10th. Iâve sold several HMF leases since then to Carvana. Most recently mid June.
I donât think the Hyundai/kia info is correct. Can anyone else confirm?
Vroom has reported a lot of banks stopping sales that are still allowing 3rd party buy outs. I wouldnât take vroomâs statement as gospel without any corroborating evidence.
BMWFS dealer payoff was 100-150$ higher than my personal. Sold to Carmax 2 weeks ago
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it was probably the next months rent charge, they take that money if your next payment is due within the 14 day period that payoff is valid
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I was told a 3rd part dealer could not pay off a VCFS loan. Can you all confirm the options?
By vcfs or by someone else?
It was via chat with VCFS.
Honda Party is Over
Memo To Dealers - Canât post the whole thing but took bits and pieces out
"Beginning July 14th, 2021 AHFC will temporarily stop non-Honda and non-Acura dealer purchases of lease vehicles. In addition, access to payoff information via Dealer Track will no longer be available to non Honda and non-Acura dealersâŚ
These temporary steps will give you a greater opportunity to retain lease customers and build your pre own inventory. We will reassess this policy at the end of the calendar year."
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I was just in the middle of typing this haha.
Just received wind Honda/Acura are gonna be a no go as well
Seems all the manufacturers beginning to beat to the same drum
To my knowledge this is also ending 8/1
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IMO, while people are complaining about this since they canât sell their unowned rentals now, this may help bring down prices to a normal level again. If GM/Volvo/Honda/whoever knows that a car is coming back in 3 months because it needs to be grounded, even if itâs not coming to their specific dealership, theyâre not going to overpay for it. There will be less competition for it since it has to come back to a captive finance dealership only and canât be sold third party
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Iâve also helped family sell 2 Kias (Stinger and Sportage) to ALGO just recently within the past 3 weeks.
Very valid point and you may very well be right. I think a lot of dealerships are most likely having their BDC / sales teams hounding the people in their CRM with 6-12+ months left on their lease anyways to try and pull them out early.
What if they donât want to?
This seems to be the case right now. From what I have heard, you can sell to a Volvo dealer (though they may not be able to buy it if you are not trading it for a new Volvo) or buy it out yourself.