I believe so just not 100% sure. Would ask them for a dealer payoff amount to confirm. Some banks set dealer payoff differently and use a Market Value amount which could be higher to deter you from going that route.
How did you get a breakdown of your payoff? CCAP will only give it to me via phone and I can’t find a way to request it on their website
Live chat them while your logged into your ccap account and ask them for it, they’ll email it to you. Super easy, it took like 45 minutes for the email to come through though.
Thank you sir. I will have to wait until tomorrow since they are gone for the day. Much appreciated!
Here’s my Vroom experience with selling my leased 2016 Honda Pilot. My payoff was higher than any offer I received, but I was 10K miles over my allowance and had some wear-and-tear that I thought Honda might charge me for, so selling made more sense for me than turning it in.
8/14/19: Got offers from Vroom, Carvana, and Carmax. Vroom offered me $1K more than Carmax or Carvana, so I accepted their offer. Note: their offer was exactly what I said on their form I was expecting - maybe coincidence, but in retrospect I wish I had shot higher. After accepting their offer I received an email with a link to an online form that I filled out immediately.
8/15/19: Received an email from Vroom that said " **Here at Vroom, we require a dealer payoff letter from your lien holder confirming the 15-day payoff amount, daily per diem and overnight mailing address. Please be advised VROOM cannot reach out to your lender on your behalf. We will need this before we are able to get your paperwork drafted and sent out to you." I called Honda Financial Services. The rep I spoke to was nice, but it seemed a little unclear exactly what she was supposed to send me. So, I put together a conference call with me, a Vroom rep, and the HFS rep. That solved everything very quickly. Honda faxed me the payoff letter and I sent it to Vroom.
8/16/19: Received an email that all info was verified and that a FedEx package was being sent to me along with a link to pay the difference between Vroom’s offer and payoff. Also received a separate email with a link to docusign the bill of sale etc. Did that immediately.
8/19/19: Received FedEx, sent it back same day.
8/20/19: Received email with counter-signed documents from Vroom, and a confirmation that everything was in order and they would be scheduling someone to come pick up the car.
8/21/19: Received email at 10AM that a carrier had been found to get my car and that I would be hearing from them directly. I was confused because the email said the estimated pickup day was 8/21/19, so I called the carrier immediately. It took a couple of hours for someone to call me back and the guy basically demanded I be ready to hand the car over to him at 1PM, which was less than an hour. That was a problem because the car was at my home and I was at my office. But, I was eager to get this done (my lease expired 9/5/19) so got him to agree to a 3PM pickup and left my office early, which was a pain but doable.
As others have mentioned, I needed to meet him in an open lot to give him the car - he was driving an 18-wheel car carrier. Not a big deal, had a lot in walking distance. Met him at 3PM on the dot. He inspected the car and noted little scratches etc and gave me a bill of lading and we were done. When I got home I sent the bill of lading to Vroom, which they quickly acknowledged.
8/23/19: I received an email from Vroom confirming a check had been fedexed to Honda Financial Services.
8/26/19: HFS received check from Vroom.
8/30/19: HFS online account reflects payoff.
So that’s my story, 16 days start to finish (including weekends). I was worried that HFS wouldn’t get the payoff in time, and there wasn’t much to spare, but everything worked out fine. I would definitely sell another car to Vroom. Hope this info is helpful to someone.
5 Likes
Well I just learned that if you have an offer from Vroom, and re-run the appraisal within the 10 days, the original offer is no longer valid and the new offer replaces it. Maybe I should have assumed that would happen. The first offer I got on 8/21 I was close to pulling the trigger, but I would be paying out of pocket the difference between offer and dealer payoff. So I thought I would re-run it to see if somehow the offer would be higher 8 days later. Ended up being $500 lower. I still called and asked for a re-review and requested an amount higher than the first offer. Doubt it will happen but the call rep put the request in at least.
2 Likes
My 2017 Daytona charger, back in May was looking at a $25000 payout, which put me way upside down. Now we’re up to 33k, which is weird, my payoff is 27k. Let’s see if/ when they come through
2 Likes
On 9/10 I got an offer from vroom that was about $900 better than carvana, so I accepted it. After that stuff went pretty quickly, and the carrier picked my Jeep up on 9/18. The next day they emailed me fedex tracking numbers for the checks, and never actually shipped them. So that’s where I am now. Looks like they might have been affected by all of the flooding in Houston. Hope everyone’s ok out there!
1 Like
lol, fedex updated the tracking status. Turns out they had the check the whole time. Sorry Vroom, you guys are still awesome! 
That guy has no idea how to buy cars …
Has anyone been successful with a sale to Vroom of a lease held by Chyrsler Capital. Just got a note back stating they cannot go thru with the sale based on a contractual stipulation. Are the efforts I can make to push along this process to ensure it can go thru.
I just sold my ram 1500 to vroom. It was with CCAP and everything went smoothly. I don’t see why you would be having issues
1 Like
Certain states/region have different contract stipulations … CCAP in northeast may have different contract that CCAP in Cali
Anyone know when insurance can be canceled? I assume the second your car gets picked up? Thanks all.
1 Like
Depends on your state. Some you have to surrender your plates first.
Thanks. I’m in Ohio. I know I can cancel my insurance with a simple email. They don’t require plates to be turned in. I assume I should just cancel it when they pick it up and put it on the truck?
1 Like
Do they inspect the car before sending the check? How do they verify if the way you described the car is in fact true? Can they pick up the car and then change their mind?
I just got an offer for my 2015 Hundai Sonata Sport, 25600 miles $13k
They sent the check the day after the carrier picked the car up. No way they had enough time to get it to Texas and inspect it. I think the carrier probably sent them pictures or something. In our case the bill of lading was done electronically and the carrier emailed me an unsigned copy that I forwarded to vroom. (Not sure if they received a signed copy or not themselves).
1 Like
That’s crazy though…I guess they are still new at this