Sold one to AUTONATION!

Signed Deals & Tips
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30

Thanks for giving me the idea of going to autonation for a quote. I had basically given up on a third party payoff since every quote was under my payoff but autonation actually gives me a little positive equity. They offered me at least $3k more than any other quote. I’m not quite sure I understand how all of this works though so I would appreciate all the info I can get.

I have a 2018 BMW 340i that matures in March. My Jeep 4xe was built a lot sooner than I expected so I’m trying to figure out what to do with my current car. I’m currently around 4,000 miles under allowance which is why I decided to explore a third party buyout.

Here are the details:
I was able to generate a dealer payoff quote from BMWFS before Oct 1 so I can have a third party payoff the remaining amount. My third party payoff amount is $36,036.77 and that was generated on 9/27 and it’s good until 10/28. My current personal payoff amount is actually $35,565.17 (reflects the most recent payment I made on 10/1). The quote I got from Autonation is for $35,960. Here are my questions:

  1. There is a BMW Autonation dealer not far from me. Will the process be like taking this to just any other BMW dealership? The quote I got was an Autonation quote but I figure it’ll be like a BMW dealership dealing with BMWFS. Is that correct?

  2. Will there be an issue with the dealer payoff quote I got from BMWFS since the payoff they generated on 9/27 is actually different from what my current payoff is?

  3. From what I’ve read, it seems like the personal payoff amount does not include taxes I would have to pay if I were to payoff the car myself. So if the dealer is offering $35,960 vs my personal payoff of $35,565, would the dealer pay BMW the payoff and cut me a check for the rest? Or will BMW issue a check for the difference? Is the dealer or BMWFS responsible for writing a check for the MSDs?

Doesn’t seem like a whole lot of money but up until now I was stuck with a car where payoff was higher than the RV. Now it looks like I can pocket $395 + save on the $350 disposition fee. Does all this seem to add up?