Sold one to CarOffer (aka CarGurus)

CarGurus came in with top offer! I honestly can’t believe the $ I got for this car. The market continues to be crazy. When I leased this at end of 2018 (great deal thanks to LH tips), I never had intention to buy out at end of lease. Back then, the residual seemed overpriced :person_shrugging:.

I bought out 2018 Mazda 6 (Touring) at end of lease in December 2021 for about $15,600 with MA tax. Original MSRP was $26,595.

Sold to Cargurus/CarOffer in late March 2022 for $22,272. Car had 21900 miles at time of sale. Other offers received: Vroom $21,820; Carvana $20,338; CarMax $20,200. The best a dealer would give me on trade in against a MSRP purchase was $19000.

CarGurus process was extremely simple and they never tried to haggle/change the offer or add fees after the initial offer was received. Car was picked up by a driver. Went through some Docusign stuff online in my driveway and he drove away with car after a half hour or so. I had bill of sale in my email before he left, and $ in my bank account by end of that day.

Admittedly, selling the car put me in the position to need to lease another. Worked out a MSRP lease on 2022 Hyundai Sonata (after extensive haggling to get to MSRP). So some of what I ‘gained’ from selling the Mazda goes into the (IMO) overpriced lease on the Sonata, but I’m satisfied that I got a car I wanted with best available lease cost, and still come out sufficiently ahead overall to be happy with the trade (not really a trade, but 2 separate transactions with different parties).

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Hi @leaser_99 !
Could you let me know how you felt about the process? How long did they take to payoff the bank? Any other thoughts that might have had regarding their processing and pickup? Did they change their offer anytime?
I’m trying to sell my car and they did come up with a very good offer.

Thanks

Process was great. I sent in copies of car title & my license. In less than a day they confirmed the offer and asked me to contact them. When I called, they setup a pickup date, and sent out some paperwork by Fedex. Fedex arrived on time, a couple of days before pickup. At no time did they change the offer or add any fees to the offer.
They told me a tow truck or driver would come during the scheduled pickup window. A driver was dropped off at my house during the scheduled window. He first took a full walkaround video of the car (not sure if he submitted this in real time, or if this was just for the record before he left with the car). Driver had me sign the paperwork I had received by Fedex and sign my title. I received a bill of sale by email, and docusigned that on my phone, then received a completed copy by email. Took maybe a half hour to complete everything. When everything was signed, the driver left in the car, with all of the paperwork. In my case, this was around noon and I had the payment deposited to my bank account by about 5pm that day.
I owned the car fully, so the title was entirely in my name and there was no loan payoff involved. I can’t give you any details on how that part works. Let me know if any other questions.

Just to let everyone know, CarGurus does not buy leases

OP- great job on the sale!

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Thanks for the detailed information @leaser_99 !
I called them today, went over the details and have scheduled the pickup. They said they are going to send a Fedex package overnight with paperwork. I do have a lien for a car loan.
I’ll post back here with the progress.

Cargurus has the top offer on my 2021 Tesla Model 3 LR with 11K miles.

MMR on this vehicle is $59K in NJ. Offers as follows
CarGurus: 57,498
CBUsa: 57,237
Driveway: 55,815
GMTV: 53,000
Rodo: 52,175
AutoNat: 52,000
Vroom 51,000
Carvana: 50,810
WebuyAC: 49,240

Went ahead and provided paperwork. Seems like directly to pickup. I have been told the Cargurus model “is good for the consumer and the dealer. Comes with a buyback guarantee for the dealer.” They will be buying out my balloon loan on the vehicle, here is the default guidance from this point forward:

  • After we review your documents, we’ll reach out to schedule a pickup date and time.
  • On pickup day, a driver will come to your home, inspect your car, and take it away.
  • Our CarOffer team will pay off your car loan with the sale proceeds and deposit the balance into your bank account in one to two banking days.
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Tried them for fun on the Durango Hellcat and they couldn’t come up with an offer. Asked if I wanted to list on cargurus. They cannot buy leased vehicles they said.

Try GMTV. They’ve gotten their offers back up on Tesla’s.

Edit: ooops. I didn’t see it on your list !!!

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Had a bit of an issue with an error I made entering the mileage in the offer form. First level support via on-line chat was worthless. They told me I had to cancel my order and wait 7 days to submit a new one.

Eventually I got an email from someone on the CarOffer “consumer support team.” This person was much more competent, responded quickly to my emails and was able to fix the mileage issue without changing the offer. They needed me to manually submit my loan payoff letter from Penfed, which I provided via email and was quickly accepted.

I am now setup for a pickup 5/13 at 10am with a Fedex expected to arrive before then with document to sign.

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interesting, they offered less than that on my 22 with 6000 miles, adjusted MMR 62.4…

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Fedex package from CarOffer was sent today, overnight for delivery tomorrow. Nice feature of the site, if you add your vehicle to “My Garage” under “My Account” you will see the CarGuru instant market value, which in most cases, is pretty close the offer.

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I got the Fedex packet today from CarOffer. It included:
Texas Power of Attorney to Transfer Ownership & Declare Mileage.
Texas Temporary License Plate.
CarOffer rear view mirror tag and key tag.

The power of attorney is filled out minimally and the instructions say it will be completed by the drive upon pickup. Clearly they plan on driving it somewhere.

To the dragstrip!

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Car pickup on time at 10am this morning went without issue. They used a third party company “Acertus” to process the intake and pickup of the vehicle. The inspection was just a quick walk around, they didn’t call out the rashed wheels or hood chips or dings in the bumper or anything. Driver left with vehicle and provided me a bill of sale via email.

Same day around 10pm ACH payment cleared into my account for equity payment due.

I will continue to watch the Penfed account to confirm lien payoff.

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He always gets the best offers! :joy:

Still waiting on Penfed to acknowledge the payoff from Cargurus… Hopefully just slow.