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Interesting. I just sold my off-lease car to Carmax for $6k more than the buyout. When I was at Carmax, they had me call BMW financial services on speakerphone
by jayess 5y ago
Interesting. I just sold my off-lease car to Carmax for $6k more than the buyout. When I was at Carmax, they had me call BMW financial services on speakerphone because they wouldn't give carmax the final payoff/lienholder information. That must have been what was happening.
- joezydeco 5y agoThere are a lot of interesting anecdotes on /r/askcarsales about this. One consensus is that Carvana/Vroom/Shift are buying cars at a loss to try and capture market share. Carmax has more of a track record so they might be getting a better shake like your experience. It could also be you calling personally that unlocked the lien, where the other companies don't work that way. Some manufacturers like Volvo aren't letting you out of the lease early unless you're leasing another Volvo.
- bityard 5y ago> One consensus is that Carvana/Vroom/Shift are buying cars at a loss to try and capture market share. They absolutely are. Where I live, these companies are (and have been before COVID) paying well above market rates for newer used cars from private sellers. On the flip side, all of your typical auto sales rags and sites that used to have listings from private sellers and used car dealerships are now mainly carvana listings.
- llampx 5y agoSounds like anecdotes about Zillow where they're working hard to buy up all the inventory they can.