We sold our 2019 Crosstrek for about $600 more than the dealer lease pay off. Had 10 months left and were around 33,000 miles on a 36/15. $22,000 on a $21,400 payoff. Really easy transaction. Very happy with the buyout.
Vroom was lower than this by $800 and a new quote run on Carvana dropped to about $20,994. Luckily the last quote was good for 2 more days.
We loved the car but the nearest service location became a huge PITA as we are no longer are commuting to the city where the dealer was located.
Picked up a 2021 Blazer RS AWD MSRP $51,280 for $44,XXX after discount and rebates. $2,700k down and 36/15k with a payment of $401. Scored a ~9.6 with 60% residual on calculator for a premium color.
It probably wasn’t a “steal” of a lease but should work out well given the high residual and comfy payment.
The market in our area was tough and the closest hard haggle we made it to was $455 monthly with the same terms on an RS with an MSRP of 48k.
Thank you for the tips on Carvana! It was super smooth. Just waiting for the final approval and hoping I won’t have to come back to edit this
Edit post sale and pick up:
Easiest ever! I did disclose two door dings that were given by some kind stranger and they thanked us for that transparency. We had washed it and wiped it down, probably wasn’t necessary but couldn’t let it leave dirty. Carvana rep snapped a few pics, walked around the car a few times and locked the keys In a lock box on the window. The tow truck showed up shortly after to haul it away. We were instantly paid and it was a great experience.
We just got my wife a Lexus to replace her leased Kia Sportage. The Kia lease will end in July and the Lexus dealer agreed to pay the remaining 4 lease payments ~$1000. There are still 10k miles left on the lease, original term was 36/10k.
Now, I went to return the Kia to the dealer but they are charging me a disposition fee ($400) even after knowing there are 10k miles left on the lease. So I decided to sell to Carvana and got an offer of $17,079. Carvana reached out to Kia and got a payoff for $17,199. Carvana has asked for $120 cashier’s check to move forward.
Here are the questions I have -
Should I wait for the Lexus dealer to payoff remaining payments so Carvana gets an even lower payoff? The only thing I am afraid of is that I wont get this good of an offer.
Should I just move forward with selling to Carvana and will get money back from Kia once the Lexus dealer sends the remaining payments?
I run a few cars through carvana appraisal monthly to keep track of values. I’m seeing major increases over the past 30 days in the offers. In one case the offer improved by $4000. It seems they have changed the “market based adjustment” logic that they apply to the KBB pricing. Would be interested if others are seeing better offers now. MMR prices are also up so it could just be another spike in used car values.
Trying to understand Carvana and process of selling back a leased vehicle that seems to good to be true. I am nearly two years into a lease on a 2020 vehicle ( low mileage) and have around $6775.00 remaining in the lease ( $6340 in payments and $434 turn-in fee) . I put no money down on the lease ( just paid taxes and first month) . The residual value of the vehicle is $24,915,00. That comes out to $31,690. It appears the Finance Company is saying the buyout amount is $32,649 which i assume that may include things like sales tax, etc. Here’s the things, Carvana is offering me $37,100 for the vehicle.Am I missing something in that they are essentially taking the lease off my hands two years in and i am making some coin coming out of it?
Telluride. One of the first ones made purchased before they were impossible to get and grossly overpriced/ inflated above MSRP. Carvana is paying me close to what the car is/was new and well above KBB. I mean the car is seriously mint and low miles too.
Nice. Wouldn’t expect KIA to resell that high.
Request the dealer quote from KIA. If you are in a state with a PPT then your payoff may also include it.
Thanks Ursus, Im thinking the discrepancy in the payoff is the PPT. Just heard good and bad stories about Carvana and the process. It seems like Carvana pays of the note to the company , comes picks the car up from me, gives me whats left over and that it. Reading these boards and others and from friends it seems great when it works to your advantage. We shall see. Im just curious if people have had similar situations and how it went.
