Yes, but I consulted with my agent and she told me to keep it until the car is picked up. It was still in my garage, so what if a fire destroyed it while in my possession? Easier just to keep the insurance for a few extra $$
The registration/title are still valid until you notify DMV. At least until Driveway submits paperwork and it goes through.
Once Driveway receives your docs and processes it, you no longer are liable for the vehicle. Driveway insures their vehicles themselves once the acquire it. No need to even park it in your driveway.
What that said, I still keep it insured till its out of my sight for an extra piece of mind
I sold my car to Driveway back in June…I received a notice from California DMV that the registration for the vehicle will be suspended because there is no longer insurance. Is it typical to receive such a notice after selling a car? Can I disregard it?
Idk for cali, but in NY you need to mail back your plates and inform them that you’ve sold/disposed of the vehicle. Assuming it’s similar.
Thanks, I did some poking around and I was supposed to file a Notice of Transfer and Release of Liability within five days of the sale. Yay for the DMV services in California being semi-online!
For the people who sold their cars to Driveway and got an equity check for more than $600, what are you doing when tax season comes next year? Is this considered income?
I also want to ask this question as I am not sure what to do with taxes?
Talk to a CPA. This thread is for discussions about Driveway, not taxes. You can also search forums here to see how internet strangers handle their taxes.
Driveway can not buy within the first 60 days of a title being issued?
Everyone’s tax situation is different. Basic rule of thumb is you have to pay taxes on capital gains. Your best course of action is to talk to your CPA if you have one and not rely on a forum for tax advice.
Driveway was the highest offer for my 2018 Model 3 LR RWD by a couple thousand so decided to take the chance with them despite reading about their long wait times. Had a snafu with paperwork I received and was worried they wouldn’t honor the original estimate as prices had been starting to decline since my original estimate. In the end, they came through and received payment in my checking account fast. Still waiting for loan payoff and vehicle pickup.
08Aug - online estimate provided
15Aug - submitted docs
16Aug - pics submitted
22/23Aug - UPS packet received. Offer amount and address incorrect
24Aug - called. Said new packet will be mailed tomorrow.
01Sep - called again. Said packets will be re-mailed and she’ll provide tracking.
06Sep - received UPS packet
09Sep - mailed back UPS packet
12Sep - packet delivered to Driveway per UPS tracking
13Sep - confirmation email from Driveway
14Sep - ACH payment in checking account
Update… after letting Driveway know last Friday, that I would be putting their Hellcat on the side of the road. They finally had someone contact me that evening and it was picked up Sunday Morning. All in all it was positive experience with them up until it was time for them to pick up their vehicle. After that communication came to a halt, which was very weird to me. But I got paid and they got their car, all is good! Gonna miss her
(And no I wasn’t going to take the car from out the garage. But I needed a way to get them moving and it clearly worked lol)
16Sep - car picked up. Driveway/Lithia employee drove it back, not flatbed pickup.
Wow more than a month after submitting docs.
Sold my car to Driveway.
I saw some mixed reviews but wondering if anyone has had experience dealing with them in CA.
My process was actually surprisingly smooth.
Sold my 2019 Nissan Altima.
Online quote was $22xxx
On Sept 14th I submitted info for a quote once I decided I wanted to move forward.
The 15th I got a text/email from them about a DriveWay Valet Service being available for Monday 9/19
Cleaned the car and today they came did the paperwork(bill of sale, DMV, and Check)
Since I had equity on the car I got the check then and there.
Attendant was very nice and they didnt really even check the car tbh.
20 Min later - we were done. Gave the keys and was given their packet of info to make sure I follow up as they say that it’ll take up to 20 days for the lienholder to be paid off.
I’m shocked at how simple it actually was. But I am happy.
Replaced that Altima with a new Camry so im pretty happy.
Am in the process of selling a car I own to Driveway.
Submitted doc verification on Tuesday and paperwork is being overnighted today.
I have the title for this vehicle so leads me to believe that either their backlog is now resolved or they purposely drag out lease vehicle purchases.