Awesome. One more question, if I may, what do I do for the title since it asks for it?
Toyota will release the title to them after the payoff amount has been received.
Never seen that one before. Did you put the car was owned? Or leased?
Yes, leave it blank.
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I got carvana to call them with me, because I wouldn’t get the dealer payoff doc without carvana. Carvana accepted a verbal confirmation over the phone from Mazda in lieu of pdf
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I just got the call back, it took 4 hours!, since I had them on the phone anyway we did a 3 way call with TFS.
Thanks everyone here for your help!!
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Anyone know how much gas needs to be in the tank when they pick up your car?
Also, anyone with a Toyota Financial lease, just call TFS and give them the Carvana’s fax number with the official payoff. Mine took less than one hour to be approved!
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General question about the used car market: I still don’t fully understand why out of sudden there is such a crazy hype around used cars. We all remember that at the beginning of the pandemic Carvana even stopped buying cars from regular customers, and at that times the auctions were closed. Now the auctions are back on and Carvana and all the other similar companies started to buy like crazy and offer 3-6k over Kbb???!!! If I am not mistaken, the Coronavirus is still there and many people dont have jobs or might loose their jobs in the next few month. They are saying there is no inventory on new cars therefore people have to go buy used cars? but we see here everyday that there are plenty of deals on new cars and there are tons of new cars you can go and buy. So, can someone explain what exactly is going on here please? Not that I complain, I am very happy about this, just want to understand the whole situation. Thanks in advance!!
The whole situation is crazy if you ask me. I think there will be a lot of opinions about what is driving all of the irrationality, and this of course is not just in the automotive market, but I doubt there is one single clear answer. I am generally a long-term bull when it comes to these types of things, but it seems like we are walking on a razors edge currently and could fall off either side at any moment. As such, it seems like a good time to cash out of certain cars, but not necessarily a good time to buy another one.
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They will also email you an official copy of the paperwork (that is sent encrypted), which you can then download and then upload to the Carvana site as well. That’s what I did and it was a piece of cake.
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The offers on my other cars went down this week (-700 on one). Hopefully they go back up a little when I find replacements for them. Anyone elses go down recently?
You’re thinking too rationally. Cheap money and sub-prime credit. Market is not operating as it should because of fed/government intervention.
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- people moving from city to suburbs to live in lower density
- people using less public transport and wanting individual transportation
- job uncertainty making people with cars continue to hold their current cars and not sell
- govt monetary and fiscal infusion driving market prices up
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Does not really matter. They don’t look at that.
It all makes sense although:
- There is lots of uncertainty. Most people have already cars and they stick to those cars and don’t want to buy
- In case they need a car, and cant go around getting one, there are still tons of 2xx dollar leases which are much cheaper than buying and financing a used car
- All people I know want to get rid of what ever they can cash out. Don’t forget many households have more cars than they need so there should be enough people selling.
- Cheap money is always good but you can’t get the cheap money if you don’t have a job and job uncertainty is a big issue in the country.
Again, I am happy it is the way it is. I got rid of one of my cars the way I wanted it, so no complains here. Just trying to understand what is going on and see what is the best approach to plan for my next car(s)!
Just a tip for anyone in the process of selling to Carvana, I was stuck at “Verifying Ownership” step for a few days with no updates and useless responses from their text/char feature…called early in the morning and after a 20 or so minute wait had the final steps done and appointment scheduled for pickup. Calling is definitely more helpful than their chat or text option, at least for me.
I see that you are familiar with “Sebastian” @Rmaxon317 
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I got the payoff PDF from Chrysler Cap for my Jeep GC. I assume the large amount for sales tax is on the residual value/buyout price? Bc I originally rolled-in everything, incl tax, into the monthly payment so when they tally up the remaining payments, sales tax has already been built in to those.
Also, if selling to Carvana, is sales tax included as they are considered a dealer?
For reference, there is $2800 left of payments, the payoff is $24,992, but includes sales tax. Carvana offered me 26,500. There’s a line fore 1531 in taxes, so I assume that doesnt get paid and I get the full $3000 profit? And what about the tax rolled into the remaining payment? (I rolled everything)
