Anyone have experience going through Carvana purchasing your car while you have a payment coming up? I understand they hold your car for 7 days and then theres an additional 3-5 business days for them to make the payment to the lien holder. Looks like Lexus Financial is trying to add on an additional $122 to my payoff amount for “rental use” and taxes beyond their 10 day buyout quote.
With Honda Financial, we just went ahead and paid the upcoming payment due while waiting for payoff. Honda sent us a refund check for the prorated, unused portion of the month once everything was said and done. Timing is always a consideration with these payoffs but it worked out in the end.
The offers I get online seem to be too good to be true. Can anyone share your experiences about the discrepancy between the online offer and how much you got in reality? thanks
Not sure about carvana but with vroom I think everyone here received the amount promised initially.
I have not seen a report on either company paying less than the online offer.
Have you tried getting Carvana to do a 3 way call with you and Chrysler Capital to get the right payoff figure?
I’m in a similar situation with a Grand Cherokee that I’m considering getting rid of early but if the payoff that Carvana gets is much higher it won’t work out…
That’s odd. I had no trouble with Vroom getting the correct payoff from Chrysler Capital on my Grand Cherokee I’m selling. Curious if Carvanas offer was better than vroom? Mine was the opposite by about $1500.
I haven’t actually pulled the trigger yet because I’m still weighing up options to replace the Grand Cherokee.
Was your Chrysler Capital payoff for Vroom the same as your buyout figure (less the sales tax) or did it end up being different?
Owner buyout is gonna be different than dealer purchase in most cases.
I just got this email from Carvana saying they can no longer purchase through NMAC:
We’re excited that you’re looking to sell to Carvana! Our Underwriting team has reviewed the documentation you provided and determined the following.
At this time, we are not able to move forward with purchasing your vehicle as Nissan Motor Acceptance Corporation’s policy has changed regarding leases and they no longer allows third parties (like Carvana) to purchase their leased vehicles. We do apologize for any inconveniences at this time and hope that you’ll consider Carvana in the future for any vehicle purchases and/or sales.
I am having trouble with getting the dealer pay off from Chrysler Capital. I did the 3 way call and they still gave the higher figure like it was me buying it out.
I guess all parts of Nissan is going in the tank!
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Ok sold my Grand Cherokee to Carvana. I paid $395 out of pocket to reach dealer payoff but it was pretty much equal to disposition fee and did not have to pay for a couple of dents of about 500 estimate to fix and potential mileage overage. If you in NY and selling a car leased from credit unions but owned by Fusion Finance I have some pointers.
- Carvana requests title from NY residents as we are a title holding state. Took me 2 days to talking to various DMV people on phone to reach the right person that told me I cannot get copy of the title. Called Carvana and then Fusion so got a copy of title from Fusion. However, my offer had expired and new appraisal came to 26,888 versus 27,021 that was initially offered.
- Fusion Finance in the contract says if I want to buy the car they charge a 500 fee over payoff plus taxes and car is mine. If you sell to a dealer they charge whatever they feel like based on market. So instead of 26,800 which was payoff and fee they wanted about 27,300. This figure seemed to go higher everyday based on my review of dealerpayoff on their website with my vin. However, they honored the initial price. This kind of irked me but its what could be happening with some of the people here and their Chrysler leases. Not sure how this is ok when it is not stated in the contract. Thinking of pursuing it for a refund but not sure it is worth if to duke it out with Fusion.
- Car listed for 28k and change right now. Overall process aside from title issue, which Carvana reps need better training, it went smooth. Gentleman that picked the car was professional and so was everyone I spoke to.
- KBB offered 25,100 and vroom offered 26,300. So i really wish Carvana well and hope they make a profit on it. A very good concept in my opinion. Dealers have to adjust or they will lose in the long run.
Sold one to carvana! 2018 Civic EX. Was extremely easy and quick and got a check for a few hundred over the buyout on my lease. 100% would do business with again.
I had a scheduled pickup for tomorrow, and carvana calls me in the evening the night before to reschedule for another week. This is a leased vehicle with Toyota financial, and I have to return in 5 days. Toyota financial already gave me a 10 day extension. Carvana told me they are understaffed. You realized the night before you are understaffed.
This is true of every loan. Interest is added every day. Only on days you make a payment does the balance go down rather than up. When they give a buyout, it is typically called a “10-day buyout” and includes interest for the next 10 days. Of course, if I get another buyout tomorrow, that moves the finish line by a day and adds another day of interest.
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My payoff based on credit union statement was 26.3 or so. Plus 500 fee for buying car out and it was 26.8 or so. Fusion does not honor that but it charges the dealer market value. That market value based on them and they can cite any price and you have no recourse on it. If i wanted to buy it they would charge me 26.8. I know interest and such. But no way interest was 400 bucks for a few days. Fusion rep simply said we charge higher price to allow you to sell dealer as we want to make money on them.
Now could be they say payoff plus 500 fee plus disposition fee they would have received and base it on that? Not sure but as I was told its market value for the dealer.
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Will Infiniti Financial sell the car to Carvana? I got a pretty solid offer on my 18’ Q50 RS. Shift and Vroom were 4K less.
Ok so my jeep looks like it sold within a week of being listed for about 1300 more than Carvana gave me. I guess they make money on financing and warranty sales.
Vroom sold my Wrangler for $7k more within a week.
They sold it for more then I paid for it when it was new.
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