Carvana offers are only good for 7 days. If it’s been longer than that, you need to reappraise anyway.
No, you have 30 days and 1k miles from when you accept the offer.
darn, my stupidity. Oh well, I will see what happens as I did get the e-mail confirmation earlier this month.
7 days. There’s been a glitch on their site showing 30 days until you click into the offer itself and then it resets with the proper timeline.
These guys are just terrible with communication. I have 2 days left on my quote, and all I need is the buyout from GM. They didn’t bother to tell me that I needed to provide a 3rd party authorization form for this to happen. Not sure they will get it back in less than 48 hours. Frustrating…
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I am in IL and sold my truck to carvana last week (they bought out my lease).
Since it was a lease, do I need to notify the state about any registration cancellation, notice of sale, etc?
I just took my plates off, I never notified the state…
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I did in Texas. Wasn’t sure which address to use for Carvana so I chatted them and they provided one.
I live in Illinois and never had to tell the state about the sale. It’s not required but if you rather not get notices about plate renewals, you can send let them know or just ignore the notices in the mail.
You are assuming people do their homework and don’t foolishly spend and waste money on a daily basis.
Seems some people will pay any price for the “Amazon-like” consumer convenience of sitting at home watching Netflix while the car shows up out front - just like the TV commercials show.
It’s a pretty damning indictment of the traditional dealer buying experience.
My experience from some of the people I know that have bought from Carvana or Vroom. Little personal savings/lots of personal debt, bad credit scores and incapable of managing their personal finances.
I assume Carvana and Vroom clean up on buyer financing and fees. Clean up being relative since both continue burning cash like a boss
Exactly. The average Joe/Jane on leasehackr and the person buying from Carvana are two completely different subsets of shoppers. My guess is they either profit from shitty credit, or folks with more money than sense, who prefer the non-salesperson experience.
I made a similar mistake too, and they were able to fix it after getting in touch with a supervisor who asked the sales to team to adjust it back. But I was within my 7 day period still
Just sold to Carvana for the second time…2019 Dodge Challenger SXT. It was a pita…initially wanted to transfer out but Ally temporarily stopped doing lease transfers, (worked out better monetarily in the end actually). So I bought the car from them and sold it to carvana. It was a pita getting a clean title and not paying sales tax. Had to get a tax waiver from CDTFA but I got it done. Literally took 3 months. PM me if you need help with the 10 day california sales tax loophole.
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That’s awesome that your Carvana payoff was the same as your personal payoff on your BMW lease. Based on the stories I’ve read thus far I’d assumed that the 3rd party payoff would be a good bit higher.
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Bmw doesn’t seem to have jumped on that bandwagon yet, although their buy out documents make it very clear that they’re keeping the door open to do it by making a big deal about how the buy out is only for you and you alone, etc
Yes, I got lucky. BMW stated in multiple areas the dealer payoff is different from my personal payoff. However, the BMW rep did disclose on the phone that the dealer payoff is the same as mine after I asked when the lease transfer fell through at stage 3.
Hmm so it’s possible then that with BMW it could be case-by-case. Maybe a crossover like an X3 is more desired by the BMW dealer network to flip as a CPO. So in that case the 3p payoff would be higher. Just spitballing, no idea.
No idea. I’m curious to see what Carvana actually lists and sells my car for though. My car only had 7,000 miles on it and I saw another 2020 330i listed for $36.6K on the site, which is black and has 8,700 miles, while my car was orange. They bought mine for $35.6K.
has anyone recently sold a BMW to carvana with less than 60 days to go? Does extending the maturity work for BMW? Was it difficult for carvana to obtain dealer payoff
Carvana’s policy is no lease buy outs in the last 60 days from any brand.