Volkswagen Credit has a significant delay in sending over payoff letters
Your equity might be negative. That’s what happened to me. Had to buy it myself and resell it to carvana to pocket 5k after buyout taxes.
Sold 2011 toyota avalon limited
Carvana offered $14,500
6/18 accepted offer
6/19 video inspection
6/30 pickup. with check in hand
Carvana is a breeze compared vroom.
Whelp, we finally sold the 2020 Civic lease just in time…We had an offer of $24,665 in April but we decided to hold onto it for a little bit longer as the used car market showed no signs of slowing and it’s not like there have been any reasonable deals to be had. As soon as I heard the third party news last week I rushed to get offers from the usual suspects and local dealers…general value was around $22k, which was still ridiculous given that the car had a $22,600 MSRP. After many spins of Carvana roulette on Thursday/Friday, I got an offer of $24,334. I rushed to submit all the docs and everything was approved on Saturday. I set up an appointment to turn the car in today at my local Carvana office.
I made sure to confirm that they would accept this lease given the Honda announcement that 3rd party buyouts are cut off as of 7/15. Carmax told me they were not accepting Honda leases anymore as of Monday 7/12. The local Carvana office said I was good to go and they will continue taking Hondas until HQ tells them otherwise. Double checked with HQ and they confirmed that as long as the offer shows as valid and the vehicle is taken by Carvana, we are good. Whatever. Dropped it off today.
I think there’s a pretty good chance that things go sideways given the general incompetency of Carvana…but I have $4605 from them, and they possess a car with no title. I am leery of the purchase agreement that I signed stating that the vehicle had no liens while 4" above it the lien payoff amount is written, but I’ll hold my breath waiting for the HFS account to get paid off 
Assuming that the Carvana check clears and my HFS account gets paid off…
~5 months of usage
$4605.15 equity
5452 miles
$1000 total paid ($200 x 5 months), no maintenance costs
= $3605.15 net profit, or approx. $721 per month.
Calling the peak on the used car market now.
I also sold my 2018 Accord to a local dealer for $22k. It had 68k miles on it, I paid $27,500 for it initially. Ridiculous…
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I sold my 2018 BMW X2 to Carvana last week. A guy showed up 30 minutes early, called me and asked if I could accommodate him. I could. I signed a few papers, he handed me a check and put a QR code on the window and told me that a truck would be by to pick it up in the next 24 hours. When I woke up the next day it was gone.
I just got an email today from BMWFS saying that it’s paid off and to expect my MSDs back via check. That was easy!
I would agree its the peak on the used car market. The ship has pulled into port Carvana offer is lower every week now.
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Last week I sold a 2018 chevy cruze LS to Carvana that we bought with cash from chevy girl. We paid just a little over $13,500 tax and license all in for the car with a MSRP of $18,525. My father drove a total of 5000 miles in almost 3 years and we got a check for $17,101. the whole process took about 1 week to complete from submitting all documents online to dropping off the car in person at their local location.
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Carvana picked up my 2020 Lexus UX 250h this afternoon. Due to a glitch in their system, they actually honored a higher appraisal price they gave back in mid-June. I was getting nervous that LFS/TFS might suspend 3rd party buyouts soon, so I wanted to get the deal done.
After handing over the keys, which the agent put into a lockbox for the incoming tow truck, I walked away with a check that just about equals the payments on the car since I got it last November (~$2600). Not as wild as some of these other equity blowouts, but I can’t complain that I got to drive 5k+ miles in a pretty fun little ride, for only the cost of gas and insurance!
I love Carvana. Sold them my Subaru Crosstrek that I owned outright. Uploaded my docs and was approved for sale in 4 hours. I decided to drop it off at the Carvana instead of having them pickup. Super easy, took about 10 mins and they barely looked at my car. I picked the ACH option for my 7pm sale and I had the money in my account at 5am the next day.
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I have a Mercedes Benz with 1 year left on the lease. I added the residual value plus what I owe in monthly payments ($32000) Vroom/Carvana quoted me over $1000. but when I called MB to confirm they added $3500 in NY taxes . Is there a way to do away without paying the TAX???
You need to call mbfs and get the 3rd party dealer buy out.
They will give them a different number???
The third party buy outvmay be different (I don’t recall if mbfs charges market rate or not), but it won’t include tax.
Currently I leased BMW X2 with 36 months term and it’s getting over by next month. I got a quotation from Caravana saying they will pay me 30k for the car. Do you know what exactly the process and has anyone done this recently?plz share experience.
Carvana will not buy out a lease in the last 60 days of the lease. You may be able to get bmwfs to extend your lease and then have carvana buy it out. First step here is to call bmwfs and get the 3rd party dealer buyout amount from them.
Just sold my 2020 Range Rover Sport HST to Carvana for $78k in Los Angeles. Buyout amount was $65,082.56 so $12,917 in positive equity. Also avoided a $900 fee for a 20k mile service (Land Rover does not include services in their leases), $665 for a key replacement (lost the second key last year), and a $495 disposition fee.
Drove the car for 23 months (33 month lease) at ~$1300 per month (tax included). True cost ended up being around $738 per month taking into account the positive equity for a $96k MSRP car.
Still a good time to sell if you have another car you can drive until the market calms down!
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WoW! I’m considering selling my 2015 Pathfinder w low miles to Carvana. They offered $5,100 more than the dealer!
A couple of questions:
- What do you mean when you say that they barely looked at your car?
- They took your car and title before payment was given to you/lender?
- What is the “ACH” option?
Thanks in advance! I really want to sell to them, I just HAVE to make sure that they don’t take my car and not send the payoff to my lender before my 1st lease payment on my new car comes along! 
I wasn’t asked to upload any pictures of my car. I didn’t do any video appraisal. I drove to the Carvana lot in Philadelphia. The gate was stuck was the Carvana employee came out and pushed it open and I drove onto the lot. The Carvana employee said " well, you obviously drove it here so it runs. Let’s go inside and finalize your sale" I went inside and signed paperwork and my payment was authorized. I owed my car outright so Carvana was sending me the ACH payment. After I signed my paperwork the Carvana employee went outside and took pictures of my car and took my license plate off and then ordered me a free Uber to go home.
2020 BMW 228i xDrive was just picked up today by the towing company. Carvana rep came to the house yesterday, took some pictures and I signed some papers and handed her the keys. 10 minutes tops. Tow company showed up this morning and I didn’t interact with them at all. They showed up with the keys, drove it out of the driveway on to a flat bed truck and drove off. Also had the money in my bank by the time I woke up today.
Dealer payoff: 29,080.
Carvana offer: 32,600.
Difference: 3,520
6 months x 275 / month = 1,650
Registration: 450
3520-2100 = $1420 profit. Subtract insurance and gas and it was basically free transportation for 6 months. I’ll take it!
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