How To Sell Your Car To Carvana | Step-by-Step Guide
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- Опубликовано: 31 май 2024
- Carvana, an online-only used car retailer, is becoming a popular way for people to buy, sell and trade-in their car. Founded in 2012, Carvana is now the 2nd largest used car retailer in the US (CarMax is #1). This 10 minute video overviews how to sell your car, step-by-step, to Carvana. This overview is based on the AutoMarketplace Team's actual experience selling a car to Carvana. Having experience buying , selling and trading-in cars with different dealerships over several years, we would positively rate the overall Carvana experience. The administration was straightforward (not overwhelming) and the picking up/getting paid process was smooth.
Obviously, the price you are offered is a major factor in deciding who you want to sell your car to. Carvana, in this instance, offered us the most competitive terms with fastest and most convenient closing options, so we decided to try their service. We hope you find this overview helpful and please let us know any questions in the comments below or by e-mailing info@automarketplace.com.
▶️ 0:00 Intro
🖥️ 0:10 Brief Introduction to Carvana
💰 0:57 Selling Your Car to Carvana
🚗 1:16 Entering in Your Car's VIN
🚙 1:39 Entering in Your Car's Information
💵 2:45 Getting Your Offer
🧮 3:35 How Your Offer is Calculated
⌨️ 4:09 Continuing the Process After You Get Your Offer
📃 4:32 Documents & Photos You Need To Confirm Offer
💻 5:05 Uploading Your Documents & Photos
💬 6:29 Chatting with Carvana Customer Support
💲 6:47 Choosing How to Get Paid
🗓️ 7:27 Scheduling Your Carvana Pickup Appointment
🚚 8:14 How the Carvana Pickup Works
✅ 8:56 Confirmation Details After the Pickup is Scheduled
🙂 9:12 Preparing for the Carvana Pickup Appointment
📅 9:39 Rescheduling or Cancelling Your Pickup Appointment
👀 9:54 AutoMarketplace's Carvana Experience
LINKS:
Carvana home page: www.carvana.com/
Ordering a Vehicle's Title Online in NY: • Ordering a Vehicle's T... (4:44)
#Carvana #Dealership #UsedCars
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Credits: Jason Shaw (video production and editing), Adrian Cruz (editing), Dawood Mian (editing) 
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What a fantastic video. This was so helpful.
Thank you and we’re glad it helped!
Great video. You touched on if you currently have an outstanding loan and providing the payoff amount. No title is needed to upload as there isn't one correct?
Thanks! You’ll still have a title (it’ll just have the lienholder (ie bank) written on it). My guess is they’ll ask for it and you should upload it. If the lienholder provides it to them directly then you don’t need to upload it
What is the process if they are buying a vehicle that is currently a lease? When I filled out the price finder, I input the buyout price that Toyota Financial Services sent me and Carvana gave me a price they will buy the vehicle for. I don't have the title since it's a leased vehicle, but TFS sent me paperwork with a box to check "if the payoff will be coming from a third part, or the Certificate of title is to be mailed to someone other than you, complete, sign and date the Authorization for Payoff and title Processing section on page 3" and on page 3 there is a line for "I authorize TQI Exchange, LLC to accept the total outstanding balance due on this account (the "Payoff Amount") from: _____", so would I put in Carvana on that line?
Apologies for the delay in reply to this, as we had to do a bit of research. Here is the link to Carvana’s official “lease buyout” page. Firstly, made sure your car qualifies (appears that Toyota Finance qualifies, but not Southeast Toyota Finance). I think the safest bet, due to this being more complicated is directly messaging Carvana on their site (bottom right hand corner messenger box). You can also directly contact them here - www.carvana.com/help/. Let us know how it goes!
Thank you for this information. This is my first time selling a car, so I have a lease on my car and the last time I input all of my information; Carvana asked for $2,000 before they could continue with scheduling for pick up. Is this where I need to get an auto loan payoff or do I come up with $2,000 myself.
In this instance, we would directly go to your leasing company and see what offer they give you to buyout your lease. Then compare the two offers.
1. You buy your lease out and THEN sell to Carvana
2. You pay Carvana $2,000 and then they do #2. Seems a bit awkward that you are paying them upfront, but that might not be fair is us in a way as they do seem to do lease buyouts (www.carvana.com/help/sell-or-trade/will-you-buy-out-my-leased-vehicle)
We have never done a lease buyout with Carvana so don’t want to be too perspective. What we would do is first see what the cost of buying out your lease is without involving Carvana in that step. Does that make sense? Essentially, what is the cost of buying out your lease and what is the value of your vehicle?
Are they able to pick up the car if the car can't start?
Did you disclose that the vehicle isn’t starting when getting your estimate from them?
Do I need to do the DMV registration cancellation part when selling to Carvana?
Great question! Yes, to make the process as clean as possible you should cancel your DMV registration when they pick up the car (i.e., hand them a car without plates). Then after they pick up the car, make sure to cancel your insurance (insurance broker will then ask you to confirm you've cancelled the DMV registration). Hope that helps!
Once the driver picks up the car and gives me the check. Does the car go for further inspections before I am able to cash the check I received from carvana? is there a validation period once my car is picked up?
lol I want to know this too
Is there a post pick up inspection before a check is issued
In our experience the tow driver did the inspection at the pickup location and if everything checked out, they signed off then and there re. payment. We did an ACH electronic transfer and we got the money the next day. Believe, if you choose the check option they'll give it to you on the spot (at pickup, post an inspection). Hope that helps! (www.carvana.com/help/sell-or-trade/if-i-sell-my-car-to-carvana-how-and-when-will-i-be-paid)
I just got an offer for $29,700. But I financed and owe $33,000 on it still. Will they give me the check and I’ll pay someone the difference of $3,300 after? Or do I have to the pay $3,300 first ?
If your offer is below what you owe on the vehicle, then you first have to pay the difference (otherwise your title can’t be transferred) UNLESS you’re trading in your vehicle to buy another vehicle on Carvana - they might roll over the “negative equity” into the new car loan. Here’s the official Carvana statement - www.carvana.com/help/sell-or-trade/what-is-negative-equity.
“If you owe more than your vehicle is worth, then the vehicle has negative equity.
If you’re applying your vehicle as a trade-in on a vehicle purchase, negative equity will be factored into the total price of your purchase. If you finance with us, up to $2,500 of your trade-in's negative equity can be rolled into your purchase loan. Any additional negative equity will have to be paid upfront as part of your down payment. Please note that if you return your purchase, we will treat your trade-in as a sale to us for the purchase price stated in your vehicle purchase agreement.
If you’re selling your vehicle without a Carvana purchase, any negative equity will need to be paid to Carvana.”
Basically, you should get your auto loan paid down to the Carvana offer price *before*, if you want to sell it to them. Or you have to cut a check to Carvana to bridge the gap between their offer and the loan.
Hope that helps!
Do you drive it far for drop off?
It depends where you live, but in most places you can arrange a drop off location close to where you live
How do I estimate my cars miles after getting a new transmission 2 years ago?
Usually most buyers (Carvana as well) will still want the total miles, even though you are on a new transmission. Best way to estimate "miles since new transmission installed", is if you have the invoice, original receipt of the transmission job it should list the mileage the vehicle had on it. Would then use current mileage MINUS that mileage to get a "car miles after new transmission" number. You can also use other auto repair receipts or state inspections from around the time you got the new transmission and do the same exercise. We're also assuming this was a new transmission installed, not a used one. Does that make sense?
Don't sell your car to carvana. Their offer prices are ridiculously low to the point of insanity. My car's current book value is $6,700 in its present condition and mileage.Went on carvana just to see how much they would offer. The offer came back an astounding $300. That's right, THREE HUNDRED DOLLARS !!!!. I can see from the comments that most of them are contrived and company generated. Sell your car on your own. You'll get a hell of a lot more for it.
If you don't mind us asking, what sort of car (year, make and mileage) do you have?. What's interesting is used vehicle prices are actually really strong, especially for reliable cars under $15,000. Maybe it's even worth holding on to in this market! Wonder why Carvana is giving you such a low offer given used vehicle market dynamics.
@@AutoMarketplaceI was going to sell my 22 car to them and they gave me a great offer.I set up the appointment for delivering them my car and I backed out the day before due to family visiting. One week later the original offer expired and I decided to request a new offer and it was $3000 dollars less ! Lesson learned grab the First Offer ! I decided to hold on to the car for now. Thanks
@@mike63ful interesting! Thank you for sharing!
Will selling my car that is continued to be financed ruin my credit score?
I’m scheduled for pick in a few days and cannot find a clear answer on that.
When you sell your car, the financing is almost always paid off by the new buyer who’s buying the car, unless you’re selling the car for less than the current auto loan. If you are selling the car “underwater”, the Title transfer process can be complex as the Lien holder technically owns the vehicle.
If anything, when the new buyer buys the car, your auto loan will be marked as paid off, so should improve your credit score (not have a negative impact). This is assuming you’re not selling your car for less than the outstanding loan the car has on it. In a nutshell, in order to transfer the car’s Title, the lien holder will need to confirm the car loan is paid off usually.
Do you have to pay taxes on the vehicle you sell?
The buyer pays sales tax / registration fees, not the seller. You would have already paid sales tax when you originally purchased the vehicle 👍 Hope that helps!
What the fuck carvana said my 2008 ford explorer is worth 550 dollars it has 140,000 miles on it and has almost nothing wrong with it
That does seem low! Did you trade it in to another dealer / independent or sell it privately?
@@AutoMarketplace i paid 7,000 for it, it was iwned by a jaguar mechanic its entire life and was serviced regularly without missing a beat and has no problems except the front breaks it should be worth at least 5k in this market im going to try to sell it privately
@@derrickbosler9704 interesting history and makes sense! Another idea is to get an insurance estimate of what value they place on the car (if you call your insurance company ask them what the ACV value of the car is >>> how your comprehensive/ collision part of your premium is estimated)
My experience with Caravans sucks. They won’t pick up my car! Spending time on the phone to tell me I’m too far.
Sorry to hear about your experience, they should have told you that upfront! Do you live a rural area? Did they offer to meet you somewhere relatively close? Just curious
i guess my concern is if carvana doesnt follow through with the payment after giving them you car and title,
We hear you! They are a publicly listed company, so that would be surprising if they didn’t follow through. Our experience was positive and smooth if that helps (we got money next day)
@Rose,
That is a concern of mine. Seems Caravana has nothing to lose and us car owners do.
Caravana doesn't pay when I sign the title?
You can choose from either receiving a paper check at the time of the drop off (when you sign the Title) or for a direct deposit (commonly known as an ACH deposit) to be deposited the next day after pickup
@@AutoMarketplace
Thanks for your response. I am a little leary about signing my title and not getting paid
@@ragincajun7625 we hear you! Our experience with Carvana was good (video isn’t a paid promotion or anything like that), but rather we made it because we were intrigued. We think they’ll honor their word as they are also a publicly listed company so would be surprising if they tried anything funny once you sign over the title.
@@AutoMarketplace
Once I sign the title my car is no longer mine let's say Carvana says the next day (before the check clears) my car needs a new transmission (it doesn't this is just an example) then what happens? Stop payment on my check? I've signed the title over to Caravana so I can't do anything? Do I lose my car? And carvana's payment to me? Excuse me but I don't trust certain things that are beyond my control. Thanks for your responses.
Can I negotiate selling price with Carvana?
That's a great thought and question. At this time they don't negotiate. Here is their official statement.
"We don't negotiate on pricing; our vehicles are priced as competitively as possible and we never add on any dealer charges."
www.carvana.com/help/carvana-inventory/are-carvanas-vehicle-prices-negotiable
Ok to me this is easy but. I want them to come and get the car, truck, SUV, etc etc. They want you to deliver. Not what I wanted to do. If they bought it, they come and get it. There was a time that a friend of mine sold his truck, and they went to pick it up. I do this, and they want me to drive 125 miles to give it to them. Nope. I want the same customer satisfaction. Another thing is with them buying. Check or deposit. They say from 1 to 2 days. Let's hope they honor this because you have already signed away the vehicle and won't get it back if you don't see the money. Now for the check. This, you would think if you have the check, it will be in your bank account that night. Not so fast. It took 10 days to get 40 percent of what you are owed, and then another 15 days to get the rest of the 60 percent. To me, this isn't something that you should be stressed over, but you will. Anyone who wrote a check and did this they would consider it a bounced check if no money is put or reserved to be deposited into an account once you deposited it right? So Carvana has some things about them that you should be aware. It's a cute idea but as I said if you sell the minute you turn over the title, and it's clear you should see the money instantly. After all, they are coming to get it. So they should be aware that money like anyone else should be paid upfront. That's the way to do business. Just my two cents. Let's see how many have had this happen and agree with me. Happy car shopping.
We tested out the service had a much better experience than you described, but if more people had your experience then that’s not good! We only had to drive a few miles for pickup and full deposit (via ACH) was done within 2 days. The other thing that might make people nervous are market rumors of Carvana filing for bankruptcy in the near future
@@AutoMarketplace Sir, I don't mean to be disrespectful, but my view with my experience was the first time they came and got the car. Then it took 2 weeks for the check to clear in two parts. Then this time I was trying to sell an SUV. Now you wanted me, instead of coming and getting it, you wanted me to go over 125 miles to a location to drop off the SUV. You lost my sale to Driveway after they offered me the same price plus they would come and get it plus in real-time they deposited the money into my account before the SUV even moved. I suggest you look at the way they handle things and maybe learn from your mistakes. You may have tested your service, but as for me, you failed in that respect.
@@cattrek we don’t own or run Carvana, we simply just reviewed our experience using it to sell a vehicle. You didn’t have a good experience (much different than ours)and we’re glad you shared your experience 👍 It seems like Carvana is not delivering a consistent customer experience
@@AutoMarketplace Yes, you are right. Carvana does not give the same experience. Everything seem to go well up till they said I had to bring it over 125 miles. That is where they missed out on a customer. I know this is step by step of what is supposed to happen, but they never offered to come and simply pick up the SUV like they say with some and yes that's not a good experience which was why I put the post here. I guess what Im saying is like me it can happen to anybody. But people shouldn't have to risk it like I did. Thats all Im saying.