Once we’re on the topic, how does it work with NYS and the $1100 NYS Clean Rebate we received if we were to sell our Ioniq? Anyone had experience with that yet
Not sure, specifies rules on lease term to qualify for the rebate, but from first glance of the law, there is none. Don’t quote me, I’m a non attorney spokesperson.
The worst case scenario is that You have to return that rebate but it will be prorated.
Carvana is back in buying business, as of today.
KBB values have dropped. Ymmv.
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Hi everyone- quick question. Have a 2017 Honda Fit maturing in August. Payoff on Honda Financial website is approx $12,300. Carvana offered approx $13,400. I called Honda Financial and they told me that the payoff is actually $13,400 and that Carvana (or any dealer) would have to pay sales tax. Does the price listed as the payoff on Honda Financial site not include tax? I can’t get a straight answer from Honda, every time I call them I get a different answer. Anyone have direct experience with Carvana and Honda on this?
Does Honda have one price for a dealer and one price if I were to purchase it like Ally Bank used to (might still do not sure) in the past? Also, this is in Indiana if that makes a difference for taxes etc. Thank you in advanced
Anyone on this forum has any experience with NYS clean rebate return?
I actually sold my Honda Civic to Carvana about 8 months ago and my situation was the opposite. Honda financial website had a payoff amount that was about the same as Carvana offer. When I called Carvana they said that they needed a 5 day payoff so Carvana called Honda financial and obtained the 5 day payoff which was lower than what the payoff was in the Honda financial website. So without realizing I made about $1000 off my Honda.
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From personal experience Honda Finance has a $500 fee if non Honda or Acura dealer buys the car. Carvana or any dealer doesn’t pay sales Tax. In Your case You will get a $600 check from Carvana.
With HF your payoff number ( not the dealer) always includes local sales tax.
Thanks- I am going to call carvana and see if they can call Honda Finance directly and get this sorted out.
Just to update this, I was able to get a hold of Carvana and they now apparently have some sort of linked system with Honda where they are able to check payoffs on the fly. After about 15 minutes on hold, they were able to add the pay off to my Carvana account and am able to sell my car. There definitely must be some fee involved though as the buy out they have is about $350 more than what is shown on my payoff on my bill and through the website. I’m thinking it must be the lease deposition. I guess the payoff quote on the website and bill doesn’t include sales tax as I was expecting to get a lower payoff price since a dealer would be buying it and dealers don’t pay sales tax. Thank you to everyone who helped!
Yes, disposition fee is $350 for Honda leases.
Thats the fee if you return the car to Honda. If a dealer buys it before then, there’s no fee
Not true. I sold a Honda Clarity and an Acura NSX in the last 24 months to both Vroom and Carvana. The disposition fee applied to both cases and will apply in aforementioned case as well.
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Seems odd. One of the advantages of selling before lease end is to avoid the dispo
Honda Financial can be odd like that… like a “purchase fee” or something to that effect for anyone who is not a Honda/Acura dealer.
VW has a separate buyout price for dealers. Kinda the same thing I guess
Hyundai also had it in my lease contract. I think $400. Unfortunately I don’t have my buyout quote but I FEEL it wasn’t part of my payoff based on my napkin calculations.