Has anyone used different accounts for the same car to see how the offers vary over time? On my main account I accepted an offer and submitted the appropriate documents and the sale was approved today. I haven’t setup the payment and pickup date.
For fun I re-ran my car in incognito mode yesterday and the offer was $800 more. Is it too late to go with the higher offer with a new account if I’ve already submitted docs for the same car on another account? I just don’t want to get flagged and then screw myself out of being able to sell to them at all.
Thought I’d share my experience attempting to sell my wife’s leased 2018 Jetta SEL (~13k miles) to Carvana:
Went on the VW Financial website and got a payoff quote of around $16k
Carvana offered me almost $21k, so I started the process
VW gave Carvana a payoff quote of ~$25k…almost $10k more than the payoff quote they gave me! I was pretty confident that would happen, but figured I’d try anyway. Needless to say, I will not be taking a $4k loss on the car.
Trying to decide now if I want to buy the car outright and sell it, or try to sell the lease to a dealership. Does anyone know if VW Financial gives VW dealerships the same payoff quote they would give Carvana/Vroom?
Can you elaborate? I am also in Michigan. I bought out my lease on Tuesday and have been told that I will get title in the next 2 to 3 weeks. I have a solid offer from Carvana in hand and i’d like to try and lock it in now.
I think the “don’t need title in hand” is only if your car is registered in a state that doesn’t issue titles to owners even if you have a lien. Like in MD, even though I have a loan out on my Blazer, the MD MVA still issues the title directly to me and they hand the lien holder a “Security Interest File” (which basically says they own the rights to the car until it’s paid off).
But in Michigan, since owners don’t receive the title until the car is paid off, Carvana doesn’t need it from you prior to buying it. They just hit up the lender for the title once they pay off the loan.
Yeah, bro1999 is on the money. If you bought out your lease then you’ll need to wait for the title (since the car is yours and not the leasor’s car, e.g BMW FS).
If you want to lock in the rate, Carvana gives you a few hundred miles grace and like 8 days, from when you ask for a quote.
Once you accept the quote, you also get a few more weeks to submit paperwork and i think a few more hundred miles (i dont think this is officially documented though, the Carvana inspector mentioned it to me when he was looking over the car).
In total, it should be more than enough time for you to get the title, if you wanted to lock in the rate now and then drip the paperwork/title to them at a later date.
You can’t convert a lease to finance. You can buy the lease out and finance it like any other used car. At that point, you can sell it to whomever you want because you’re the owner.
Carvana will buy your BMW FS lease out, not a problem. At least they did about a month ago.
If you have a BMW FS lease and want to sell it, i would go through Carvana (or another dealer) rather than buying it out yourself (whether through cash or finance) because its way less hassle, quicker and you wont have to pay sales tax (some states refund sales tax if you resell the vehicle within some time period).
Once Carvana comes out to do inspection do they take the car on the spot? i’ve got an offer that expires Nov 8, and i can’t get my new car until November so i have to wait until November to sell my car to Carvana.
