They finally sent the paperwork late this afternoon. Signed and sent back already, may UPS not screw it up.
Just sold our 2017 RAV4 LE to ALGO their offer originally was $18400 after the virtual inspection came in at $1700 because of a dent and some scratches they said its their first and final offer I told them we will be buying the car out ourself since lease layoff was only $16k.
We hung up the phone he calls back about 45 minutes later saying they are interested in the car and what would i take to sell it today told them the $18400 they quotes originally he went to check with his managers came back at $18k and we ended selling it for $18100.
I was surprised they went up to that price other websites were at least $1k less. We were over our mileage by 10k miles and if we returned the lease we would had to pay $1500-$2000 with damage and miles over. So worked out great for us .
And one last update… the GM Financial account is now showing paid in full as of today. 9 days from pickup to GM Financial closing out the account is about in line with what I expected. My mom loves her new RX so it worked out great
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Quick update, sale of my prius prime to ALGO is complete, Toyota Financial paid off about 9 days after pickup. The check for my equity cleared the bank (hold released) after 10 days. Thumbs up to ALGO.
Hope so! Day 5 now still sitting in Lawnside, NJ.
Here is my ALgo review! It is pretty lengthy but I wanted to explain it all so others have a better idea of what to expect.
2018 Jeep Compass Latitude – Lease with 10 months remaining
Algo: $18,200 (Negotiation explained below)
Vroom: $18,310
Carvana: $18,350
TIMELINE:
- Thursday, 8/13: Filled out online form, FaceTime walk through and price negotiation that night, signed form agreeing to price and uploaded pics of registration/license.
- Friday, 8/14: E-Signature paperwork with payoff info sent before noon. There was one document that I needed to print and sign and send off with provided UPS label. Put in UPS drop box on way home from work.
- Saturday, 8/15: Paperwork delivered to them, they called me to get card number for negative equity payment. Got a $5 statement credit from AMEX because ALgo meets the criteria of their shop small business reward!
- Monday, 8/16: Received email that transport company had been assigned.
- Tuesday, 8/17: Was supposed to hear from transport company, did not get a call.
- Wednesday, 8/18: Called Algo multiple times because I still had not heard from transport company. They finally gave me the company’s info so I could call myself. Transport company had a driver in the area, and the car was picked up about 3 hours later. The driver started it up, took pics, walked around it, then loaded it up.
PRICE NEGOTIATION:
- Initial website offer: $18,400
- Offer 10 min after FaceTime walk around: $17,750 – Reasoning was that my car didn’t have a bunch of optional features. This was frustrating because it DOES have some other optional features that they never asked about (for example, it doesn’t have optional sunroof, navigation and power liftgate, but it does have optional heated steering wheel and remote start) which I explained. I have no scratches, dents, curb rash or anything else that would have lowered it.
- My counter offer: $18,350 (told them that was Carvana’s offer)
- Their final offer: $18,200
I accepted because Carvana and Vroom are very difficult to get ahold of, and judging by their threads the process is not as quick as it was pre-COVID. I had already done a 3-way phone call with Vroom and Chrysler Capital to get the dealer payoff which was not successful, and I was not thrilled with the idea of selling my car to a company that I can’t call without a wait time. The lower offer and $75 fee were totally worth it to me.
OVERALL:
ALgo was great. Each time I called they picked up right away and the reps were extremely friendly and knowledgeable. The worst part was waiting for the transportation company to call me, though I totally understand it’s a 3rd party company and ultimately they were at fault, not ALgo. The whole process took less than a week and I am extremely happy to be out of my lease with minimal negative equity!
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My car was picked up last Friday, equity check cleared by Monday. Just waiting on the payoff to be made to Chrysler Capital. This has been such an easy process and netted me a good amount of money.
Do you get any notification from TFS that the account was closed or do you just have to keep checking?
no notification, just logged in and checked every day
Sold one to ALGO today. Initial offer - $27800, post inspection $28300. Waiting for pick up.
Thanks OP @BoardWalkNJ
What do you know, my docs are also stuck in Lawnside, was supposed to be delivered this morning, now showing next day.
Positive is that ALGO is writing a $3375 check when carvana and vroom were consistently at payoff.
Original offer was $30,900 and upon FaceTime walkthrough, they changed to $28,000. They said it was because it’s a new car and very low mileage, there was nothing to compare with and computer had given an arbitrary number originally. I told them I need to be at $29,000 and they didn’t budge. I texted Felix (FaceTime fellow) an hour later at $28,500 and they agreed if I committed that day.
Tried AlGO. Got a higher offer. Even asked them if they allowed CA. They originally said yes, entire US. Then when they got to inspection, they said they do not operate out of CA.
Weird. They purchased my car in CA.
wtf, maybe ill call them again
I sold one to Algo last week. I live in California.
Just called, its because they dont have wholesale dealers in CA so it depends on the car because they have to ship it back to their state
Paperwork finally made it to Algo yesterday and they had everything done on their end same day. Carrier came today and grabbed the car and gave me a check. Process couldn’t have been easier!!
ALGo gave original quote of $18800.
After inspection they offered $17500.
No damage, nothing. Didnt mention anything wrong during the inspection.
I leased a 2019 Acura MDX SH AWD back in October 2019 $430 a month and $500 DAS. I have sold two cars to Vroom before so I checked just for the hell of it and they offered 36,320 and my payoff is 35,978 so I check algo and after inspection I got 36,800. I just accepted the offer and hopefully it will be an easy process. I’m not sure if I should hack another MDX…
I finally decided to sell to ALGo after they decided to increase their offer to me. I was also fed up with Ally so good riddance to them. Their transporter just picked up my truck so I hope Ally gets paid in a reasonable amount of time. Very easy process, very seamless and you can actually talk to a real person.