I recently sold an old car to Carvana, such a smooth process! But just curious on one thing, they mentioned that I did not have to fill out anything on the title and I just had to hand it over unsigned, is that correct? I just did the other paperwork like power of attorney etc.
Wonder if someone has been in a similar situation.
I get it appraised, their offer is much better than anyone else’s. Decide to go forward and start sending them the documents required. I get to the point where I can make an appointment, but there’s nothing for two weeks. Not a big deal, make an appointment. Well my appraisal expires, and I have to re-nter the info. The offer was $1000 more. Awesome! But I already got a cashiers check for negative equity. I’m assuming I’ll need to make a new one? And will they want a new 10 day payoff since the other ones already expired? As of now my appointment is still good.
Can anyone tell how BMW handles MSDs in case I sell to Carvana. Quote I am getting is almost even with lease payoff . Just concerned about MSDs I have with BMWFS.
On my BMW account it says this:
Security Deposit
$XXXX.XX
(Can be applied towards Total Lease Payoff with Lessee’s signed written authorization)
They (Chrysler Capital) are not charging Carvana sales tax. But they can charge them whatever sales price they want to.
Sold my 2018 Jeep GC to carvana. Had a 10 months remaining on the lease. Process was super easy. Made about $5k profit. The car was leased through Chrysler capital.
Appraised car with carvana on 7/10
Uploaded all paperwork and accepted offer 7/12
Carvana picked up the car on 7/15. This took about 25 minutes. The carvana associate only did a walk around of the car and then we signed the paperwork. He then handed me the check for the equity before he left.
As of today 8/2 Chrysler capital still shows my account as open. However, I called Chrysler capital and they assured my the account was paid off and in “pre-closing” stage. Does anyone know how long it takes before Chrysler capital actually closes the account?
A quote from 7/10 and another from 7/29, should I keep rolling the dice? Still haven’t found my new Ram deal I’m looking for but last quote is more than I ever expected.
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Same here but if I use the automated (instant message option) they gave me my payoff which included msds. So just be careful.
I did not get it. So Carvana will give me cheque for MSDs and they use what I have deposited with bmw to include in payoff?
I believe bmw will be the one sending you your MSDs back but I’ll let others chime in. You just don’t want to sell your car to carvana thinking you have equity or are breaking even when in reality you are underwater (bc your MSDs are masking it).
For the Toyota trucks, now may be the time to cash out with Carvana. I sold mine to them yesterday as they are paying what I believe to be an excessive premium for these trucks. My 2019 Taco TRD off-road 4 x 4 had a sticker of a little over $40k, they paid $38,630 for it with 5500 miles. Payoff was $33,691, but that included about $2000 in payments I made in advance for convenience. In the end, it looks like I will net $3k and was able to drive the truck for 13 months for free.
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It’s enough money that you should call regardless of what strangers on a leasing forum tell you. 
I was just pointing that out because I recall seeing it there.
So for all of you selling your cars to carvana are you going out leasing another car or is it that you don’t need your car and can get rid of it for a profit since the used car market is in demand for cars?
In my case I have too many cars already, so when the price was right to liquidate one of them, I jumped. I don’t plan to replace it unless something stellar comes along…And since this isnt 2019 anymore with those types of deals, I may be waiting a while…
Hi Ivan, Did Chrysler Capital charge you tax on your sale to Carvana?
FYI for those in MA, RMV still has 2/3 of registry offices closed so it’s taking 4 weeks or longer to get new plates. If you’re selling to carvana or zoom and planning on getting another car, don’t cancel your old plate, just transfer it to new car… can do that transfer at AAA office.
also curious as to this answer. I keep getting told they don’t charge sales tax however the math just doesn’t add up and i have read a bunch of forums where the individual mentions the leasing company incorrectly applying tax and didn’t “know” until being told multiple times to redo the payoff quote. I’m preparing for the worst but the NJ tax figure is significant in determining if I’m in the positive or negative equity.
Thanks for your feedback! I was told that no sales tax is applied for them as well, but when I spoke with Carvana and Chrysler in the beginning stages I was told that the dealership buyout would be significantly less than the personal buyout and, if anything, a few hundred would be applied to the dealership figure for “fees”… That makes sense. However, in my current breakdown analysis of my price vs dealership’s, it just doesn’t make sense how it could be almost identical if “no sales tax is included.” It’s also been over 48 hours since Chrysler sent the fax and emails to Carvana. So I’m assuming that their price in the fax incorrectly includes tax, i’ll have to do this all again and wait another 72+ hours to get “reapproved”.
The payoff I originally got from Chrysler Cap didn’t include taxes (uploaded to Carvana when accepted the offer). The one sent to Carvana was the same as the one I got (no taxes).
I’m curious, was this payoff without tax sent when letting them know your selling. Every buyout I have received includes tax and no matter who I spoke too, only dealers could call and get dealer payoff sheets.