You can buy it and sell it to vroom. Make sure your payoff includes sales tax as well if it’s applicable in your state.
Edit: i sold my jeep to Vroom and it took them 3 weeks to post it for sale on their website. They might be waiting for the title from US bank. Keep in my mind, you need the title as well when selling and it might take some time with DMV backed up in most states.
Probably won’t touch another Volvo lease after my recent experience getting rid of a XC90.
Vroom, GMTV, Algo, and Carvana said no. Carmax would’ve left me about $5k underwater. (Buyout was 47,XXX)
Called about a dozen Volvo dealers in the Northeast. Most of them said they can’t buy out leases anymore. Two offered me $40-42k. Finally one said they can do the buyout value, so went with them.
Even tried some local luxury dealers like Lexus and Mercedes. They were around 45k.
Hello Jon!
Volvo payoff letter received, and they paid $2,998 over because GMTV got it at dealer price.
Wanted to update you
Cheers!
So I had the same thing happen. Called Ally and I was told that with large checks, the send them back to the issuer and have them reissued to ensure that it is correct and not a mistake. So you’ll see the initial check come in, the ‘reallocation’ reversing the transaction, then you should see a new amount hit once Vroom reissues the check.
This is very very helpful! I called vroom for days since they didn’t send out the payment and they never provide me useful information. After I emailed to straightbuydocs I got the tracking number within half an hour!
What did you replace it with?
X3 M40i. Much more fun than the 4cl Velar.
Decided to delete my above post until we get paid by Vroom. Then I’ll repost it.
Just on the side note.
Got funny email from Chevy delaer on LI
ISTG I just that email too lol
Finally got the closeout letter after about three weeks after payment first was received by Ally.
One of the strangest things was how Vroom priced my vehicle. They priced it below what they offered me, and a good 5-9k under what Carvana is selling similarly optioned vehicles. Just weird to have Carvana email me about the same year, more miles and the price being 10k more than what Vroom sold my vehicle for. I’d imagine this is happening elsewhere with vehicles that have special option packages etc.
I’m in the process of getting loan from my bank to buy out from US Bank.
So you were able to sell to Vroom without title?
I sold mine to Vroom directly. Vroom paid off US bank lease and sent me an equity check. Us bank sent the title to Vroom directly.
I sold my Alfa Romeo Stelvio to Vroom (Gasp! An Alfa with equity!). Figured I was all done as the vehicle was picked up, I was paid, bank sent to Ally. Logged into my Ally account the other day and see the buyout reversed (not the first person here who encountered this). Called Ally and they said it’s normal since with any large checks they normally send them back and have them reissued to ‘confirm’ it was sent correctly for such a large check. Checked Vroom last night and the car is listed with pictures. I’d assume this means they have the title if it’s no longer ‘pending’ or ‘available soon’…but I called Ally today to figure out what their ish was. They said Vroom shorted them the money and they are waiting the additional amount. 26,375 quoted payoff via Vroom vs today the lady said it was 31,675.
Now what should I do? Call Vroom? Who’s ‘at fault’ here? Lastly, trying to get this figured out as soon as possible since the wife and I are settling on our home at the end of July and that ‘late payment’ mark on a credit wouldn’t be so great right before settlement.
What’s the lead time right now? I have an offer locally that’s about $1500 less than vroom and trying to decide if it’s worth the hassle. I have a lot of equity so I won’t owe either way.
if you read older posts, you could see similar situation happened with me. I don’t have any recommended solution for you. But, it’s worth for you to call Vroom and ask what they are saying about the payoff. If Vroom got it wrong on the first place, it’s their fault. Worst case, it may end up in a situation where Vroom has to return the car to you and cancel the transaction. If Ally insists on getting more money from Vroom, I guess that’s the situation it will be. I just hope that Vroom sorts this out in a better way.
How long did the vroom process take for you?
About 2 weeks.
Now that I’ve been paid by Vroom, here’s the story:
Sold them my 2018 Kia Stinger GT AWD. Car had 22,600 miles, a dent on the hood, curbed rims, and bald front tires. It took over a week for the pickup guy to show up. When he arrived, he didn’t even notice all of the above (!). He looked over the paint for scratches and then loaded it onto his truck. We received the full 30,768 that Vroom had offered (cap cost in 2018 was 27,500, so we received 9,247 from Vroom). It was about 1K more than Carvana, ALGO, and Kelley BB offered.
Here’s the crazy part - the guy who picked it up said that all of the vehicles he was picking up for Vroom were going straight to the local Manheim auction. He literally picked up our Stinger and drove it directly to the auction house.
