Quote:
Originally Posted by BMWCCA1
I'd be very surprised if either of them actually cut you a check for a car for which you can't produce a title.
You obviously think you have equity over your contracted residual but if Carmax has to pay it off for you, their buy price might be more than yours or your dealers.
Let us know what you find.
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UPDATE: Just came back from selling my old car. They offered $1k more than Carvana, who has YET to get back to me after 3 days of processing my paperwork.
Side note: About a month or two ago I got the car appraised at the Carmax dealership. Then two days ago I got it appraised online. The online quote was 3.2k higher than the in-person quote a month or two ago. I'm not sure if the used market is inflated right now because of production shortages or what, but if you want to sell, I would try getting an appraisal online first.
The process was simple: came in with the printed out appraisal. Got an inspection and they approved the appraisal. I showed my registration, ID, and account number on the lease and the keys. They called me an hour and a half later saying my check was ready. I went back, signed the DMV transfer, got the release of liability, signed some other forms and got a check for the difference between the lease payoff and the quote. They handled paying off the lender. I canceled my insurance and I will be calling the lender Monday to double check that my hands have been washed from the car. All in all a good experience. This is the first time selling a leased car to carmax, although I have sold an owned car previously with equally good results.
For those wondering, I came out no top with a check for $2k when I could have been paying the $300 lease disposition fee had I lease returned it to the dealer.
Edit:
She was well used, well loved, and will be missed. Good luck with your next owner courtesy of Carmax:
2018 Subaru Forester by
JMG, on Flickr
Welcome her replacement:
2021.5 VW Atlas 3.6L V6 SEL 4Motion by
JMG, on Flickr