They overnight a check to you and the bank after pickup confirmation.
They allow 250 miles to be driven from what was stated. So if you need to drive it more just state a higher amount before you submit.
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Sold my BMW to VROOM. Very easy process and was completed quick. Only issue I would say is that their technical support is full of morons. Trust the process.
There is no tax when vroom buys the car as they are a dealer who will resell.
Yes, they write a check to the leasing company and if you have positive equity, VROOM can either mail you a check or transfer the funds into your bank account. I chose wire transfer. Supposed to be wired at time of pick up but I passed their cut off time (1:00 p.m. CT).
My car was picked up today. Driver took a few photos, checked the interior and verified the mileage. I signed (from his phone) to confirm the condition and that it was received for transport. Took less than 10 minutes. I’ll update again soon as I receive the funds.
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Positive equity in a BMW lease? Do tell
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Funds was transferred to my account this morning:+1:. Overall experience was smooth and positive.
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I’m in the process rigt now. Selling my wife’s Prius and using the proceeds on a down payment(financing)for a Accord Touring 1.5t.
So far one minor hiccup, they for some reason thought title issue date was 8-30-18 (must be > 30 days) when it really is 8-30-16. Had to further blowup the image of the title for them, otherwise they would’ve closed the ticket
Here’s my updated assessment of Vroom after selling them my 2017 Volvo V60 R-design.
Pros:
- Their offer, $35,300, was the best as compared to Carvana, Carmax, and 2 Volvo dealers. Payoff was $35,954
- Vroom provides an easy online portal for paying the negative equity
- Vroom was quick in getting the payoff statement from VCFS
- Vroom was quick in sending over the paperwork (Odometer statement, transfer, etc.) to make the transaction seamless. Unfortunately, FeDex delayed delivery given the labor day holiday
- Up until the point that they had received my paperwork, Vroom is very responsive via email - responds to questions in no more than 1 hour after receiving my emails
- Transporter was very nice and actually called to pick up my car 1 day early. Since he couldn’t access, and I had to drive to him at an open parking lot, he paid for the UBER ride home.
Negatives
- It took Vroom 4-5 days to secure a transporter. This is important because they don’t pay VCFS until they receive confirmation that the transporter has the car. Having a date scheduled is also important because it affects when I stop my automatic payments to VCFS, etc.
- Even though the transporter picked up the car a day early, Vroom didn’t know it had been picked up. I had to email and call twice to let them know it had been picked up. And, even then, they had to confirm with their own logistics that the transporter had the car.
- Transporter actually did a very thorough inspection as he used a flashlight (it was dusk) to pour over the entire exterior and interior of the car
- Vroom sent me the wrong Fedex tracking number, so I didn’t know whether or not VCFS had received payment. Again, I had to email Vroom 2x and explain that they sent me an incorrect tracking number as they didn’t believe me the first time.
Overall: I think they could improve the entire transaction process, but its not bad if you want out.
The guy that picked up my Terrain looked it over in 10 seconds lol
Sold my 2017 Honda Accord lease to Vroom. Vehicle picked up yesterday, positive equity paid to me today. Smooth transaction, easy to work with if you get a good price with them.
My Terrain is live on the site and I still have full control on the GMC app 
Lol ! Start it, turn it off, honk. Might scare someone lol
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At night I will honk every now and then to scare the security guard lol
How much are they selling it over what they paid?
I wonder what they will give me for my f150 I got last week with the numbers they been giving I’ll probably make quite a bit
It doesnt hurt to check.
I actually liked the Terrain but we got a dog and it’s too small. Looking into a truck next.
I wonder how big this dog is.
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Sold my nephew’s Elantra (finance) to Vroom last week. The whole process was quick and painless. Once I replied back that I’m interested to sell, I got some pre-paid overnighted paperwork to fill out and signed. The next day after they received the docs, they put me in contact with the trucking company to picked up the car. The trucking guy came the very next day at 11:30AM (AZ time), picked up the car, I took a pic of the Bill of Lading and emailed it to the Vroom’s specialist. Positive equity of the car deposited into my bank account the same day around 1PM local time, and 2 hours after that, a final email with tracking number saying that they have mailed the payoff check to Hyundai Financing services. Verified that fund received and the account balance show $0.
Overall, quick, great communication, seamless, took less than a week from start to finish. So quick that I was in a rush to find another car for him (got him an 2018 Sonata SEL and down that positive equity so his payment was almost the same as the Elantra SE). FTW!
EDIT: for to add, once I said that I’m interested to sell, they asked for proof of registration and a picture of the current mileage, and 250 mileage allowance from the moment I send in the picture till pick up.
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For fun I submitted a quote to Vroom for a 19 month old, low mileage BMW. Quote came back in a couple of hours about 9k under lease buyout cost. Given the inflated residuals (68% at 24m in this case) I’m not surprised. Cool idea though.