Vroom No Longer Honoring Offers - They Are Lying About Toyota No Longer Allowing 3rd Party Dealer Buyouts

Ask the Hackrs
1

The company I work has a 2018 Lexus RX350L Lease that’s maturing.

The payoff is $30,256.74
Vroom offered $38,151.00

I was very happy and got the process with Vroom going on 4/23.

We signed all of the contracts and fedex everything back last week. Vroom received the POA on Tuesday.

Today, I get a call expecting them to schedule pickup, but they tell me they’re unable to move forward despite having signed contracts because Toyota Financial Services is no longer allowing 3rd party buyouts. I called Toyota and they told me that this isn’t the case. I called Vroom back, spoke with a supervisor and she told me that they got an email from “Toyota and Nissan” this morning telling them that they are no longer accepting 3rd party buyouts. I said that doesn’t make sense as Nissan and Toyota aren’t related and she tells me they have the same parent company for their leasing divisions. I tried arguing with her, but it didn’t seem to matter.

I think Vroom is trying to back out because they no longer want to pay that much for the car.

After speaking to the supervisor some more, she conferred with her supervisors and they told me they will proceed if I can get a letter of guarantee from toyota, signed and stamped saying they will send the title to Vroom.

Has anyone else had a similar experience?

2

Oh wow! Can you do a conference call with both parties and sort it out?

Asking for a letter is total BS, I doubt toyota will honor it unless there are already protocols in place for such letter.

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3

can confirm this. had a customer see the same.

also, a bunch of taco owners just offed themselves.

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4

Is it with toyota/Nissan only or any other banks too. I just sent POA docs to Vroom, my lease is with US bank.

5

US Bank doesn’t allow it at all, no matter what brand I believe

6

Wow…pretty concerned to ready this, I’m negotiating my sell price between 2 local dealers right now for my 19 Tundra with TFS…greeeeeat

7

Fuck me, Vroom picked my car up last week and they had overnighted a check to me and TFS which I received on Monday. Hopefully everything still sticks.

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8

This always seems to happen to me FFS. This happened to me last March with Carvana and Kia Financial Services…

Hopefully I can convince Toyota to give me the letter. 2 reps at Toyota Financial Services say that 3rd parties can still buyout vehicles. I’ll be pissed otherwise as we just leased another RX through Lexus after starting this process. This one is over miles - we would’ve probably just bought it out had we known this would be the case.

9

Whoa? Kia doesn’t allow it?

10

Where is the boo/hisssss/thumbs down button?

11

Were you within 60 days of the end of the lease?

Kia uses Hyundai finance who does allow 3rd party buy outs, unless yours was through a non captive bank.

12

did you sell your (pink) taco @Bostoncarconcierge ??

13

Ford does not allow buyouts also, so I purchased my explorer and now waiting over 3 weeks still for my title and registration. I paid cash and think the dealer was pissed and delaying paperwork.

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14

I was, but I extended it another 180 days to get around that. Carvana literally stopped buying any cars last March when Covid started. I was one of those…

15

Christ I’m sure people are gonna blame me for this! Haha

I’m very well documented here to never trust banksters.

On the same accord come back to me for another Toyota and I’ll get you out of the Tfs lease. :joy:

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16

Then you ran into an issue with carvana’s policy of not buying anything in the last 60 days, not a Hyundai financial issue.

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17

No, it was Carvana’s policy of stopping the purchase of any car. They were ok with the lease extension and had me do it. After I did, they told me they could no longer purchase the car due to Covid. They made a new policy and didn’t buy any cars for about 45 days or do. They started buying them again in May.

Carvana has conveniently fucked me on 3 different deals, 2 selling and 1 buying. So I don’t have any expectations from them to hold up their side of the deal. This is my first real experience with Vroom and it was a bit slow - but now I might be fucked because they were so slow.

18

Hmm. Vroom got the payoff letter from US bank and US bank sent it knowing it’s going to Vroom. I sent signed POA docs and Vroom just assigned a Carrier for picking up my vehicle. Fingers crossed.

My carmax estimate expires sunday, will they extend it if Vroom deal goes bad?

19

they issue a new one. Lets hope it goes up.

20

Did u try to sell your US bank lease to carvana/vroom.