Having almost the exact same issue, now about two weeks, first I needed to extend my lease for 60 days as per Carvana, now waiting for GM to “fax” the dealer payoff, have gotten the customer payoff twice and is the exact same number.
Coincendentally I’m selling a leased 2017 Silverado with less than 22k miles payoff 29k carvana offering $33k.
There’s a much easier and accurate method to do this. Simply use Incognito Mode in Chrome to open a new window. I did this with my Civic for a good 2 months before finally pulling the trigger. I would get an appraisal value on my account like normal, then I’d open up Carvana in an Incognito window, punch in my VIN (without logging in), fill out all the details, and see the offer. I would do this every few days, and if the new offer was more than the existing, then I’d repeat these steps in my account in non-Incognito. If it was lower, then that’s when I pulled the trigger and scheduled pickup.
I was able to do this right before the pandemic hit in late February and car values tanked.
But how would that help if they had already given you a quote for that exact VIN? By not putting in Phone/Email, system wont realize it’s for the same vehicle?
Because in Incognito, they can’t link it to your account if you don’t log in. Based on how their system is laid out (or at least was laid out at the time I sold to them), they simply look at the VIN and its value, and not any personal information that the VIN is tied to.
So, I logged in to my account and noticed my offer had expired (I had sent in all my documents 2 days ago). I was about to get pissed but I resubmitted my details and the new offer came up higher.
Just got an email from Chrysler capital and carvana. No sales tax with carvana purchasing it so now I am $1113 in profit after all said and done. Very pleased with the outcome.
Sold one to Carvana. Toyota Camry 2014 $10,290. Pick up is tomorrow so will update tomorrow. As of now very easy process. Toyota Financial Services has the payoff document that Carvana requires to get an accurate payoff amount. Obtained the document from their website and posted into Carvana in less than 48 hours they send me an email to schedule the pickup (today) and the first available time was tomorrow 9 am. Very easy process as of now.
Where is the document in TFSS Website, I see only payoff amount, Is this the same as 10 day loan payoff document, if not how did you get that.
Thanks in advance!
I’ll start by saying there are slight variations of my question on the forum, but I couldn’t find an answer to my problem. So any help would be greatly appreciated.
Earlier this year I got a semi-unicorn deal on a Tacoma ($145 p/ month with taxes, 0 money down), using US Bank. My current payoff amount is just a little over $30,500.
Carvana is currently offering me $33,800 for the car, however, I called them and was informed that they won’t work with US Bank. As confirmed by other posts.
So in this case, I assume the only option would be for me to buy the car out myself and then sell to Carvana. If that IS doable, my questions are:
Does anyone know if a Buyout can be done using a credit card? I know it may vary by institution…
How long does it take on average from the time the buyout payment is made until I can flip it to Carvana?
Taxes. I believe I would need to pay sales tax when I make the buyout payment to Us bank. Are there any other taxes I would pay when Carvana buys it from me? Or capital gains on the transaction?
Call US Bank and ask what type of payment they accept. But if you want it fast, typically it’s a wire transfer. Highly unlikely they’ll accept a credit card for that amount.
You’ll need the title in hand for the sale. You’ll have to ask US Bank how fast they can move. 1-2 weeks maybe?
Expecting my new car to arrive later this month from the factory. Just did the incognito trick as my offer was expiring in the next 24 hours. Offer increased by 300+ and extended for another 7 days.
Will keep doing this until my car arrives and will pull the trigger if it starts to drop.