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Selling to Carmax

Fastlax16

Autocross Newbie
Location
Chitown
Car(s)
2019 DBP R
Currently in the middle of selling my R to Carmax. Thought I'd post a little heads up/warning for anyone financed through VW credit. Carmax needs to get a payoff quote directly from the lender, they won't accept the one I have. The process so far has involved the finance person, or whatever their title is, at carmax waiting on hold with VW credit for 3 hours in order to request the payoff amount. VW is now processing the request and will fax them the payoff in 24-48 hours, potentially putting me right against the deadline for my offer expiring. There's no way to process it online supposedly and I can't finalize the deal until Carmax gets the fax.

TL/DR: VW Credit is slow. If you're selling to Carmax dont wait til you're near the offer expiration date to accept it or it will probably expire before VW gets Carmax the necessary info to finalize the deal.
 

9uns

Autocross Champion
Location
92870
Car(s)
gti
If you miss the 7 day deadline to sell the car to CarMax, you can always check KBB's network of dealers. I sold my wife's Tucson to a Toyota dealer that paid $1k more than CarMax and the process was MUCH easier.
 

Fastlax16

Autocross Newbie
Location
Chitown
Car(s)
2019 DBP R
If you miss the 7 day deadline to sell the car to CarMax, you can always check KBB's network of dealers. I sold my wife's Tucson to a Toyota dealer that paid $1k more than CarMax and the process was MUCH easier.

Carmax is paying me 43k. Sticker was 42.7. No one is beating that. My vw dealer that services the car is a kbb dealer. Their initial offer was 35.5.
 

Fastlax16

Autocross Newbie
Location
Chitown
Car(s)
2019 DBP R
what are you replacing it with?

The Chicago Brown line and another car I already own (Bronco Sport). They make a JB4 for the sport so might pick that up and go embarrass some GTIs (stock for stock the numbers are sadly comparable) lol
 
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mk7_bk

Autocross Champion
Yea it’s ridiculous. It’s also ridiculous carmax won’t use the official payoff amount I can get instantaneously through VW Credit’s website.
there is always some sorta bs with it, I financed through VW which led me to my Large bank everyone knows who I pay, I only have a tad left to pay off but I know that the payoff amount is slightly different than what I owe (because banks like to rip ppl off)
 

Fastlax16

Autocross Newbie
Location
Chitown
Car(s)
2019 DBP R
there is always some sorta bs with it, I financed through VW which led me to my Large bank everyone knows who I pay, I only have a tad left to pay off but I know that the payoff amount is slightly different than what I owe (because banks like to rip ppl off)

the amount is usually different because of the daily interest. Mine is exactly the same since I have a 0% loan and no prepayment penalties or fees for paying off early since if you’re the bank you’d rather get all my money now back waiting another 5 years.
 

Dog Dad Wagon

Autocross Champion
Location
Innnnn West Philadelphia...
Car(s)
19 Alltrack 6MT
the amount is usually different because of the daily interest. Mine is exactly the same since I have a 0% loan and no prepayment penalties or fees for paying off early since if you’re the bank you’d rather get all my money now back waiting another 5 years.
Yeah same I've got a 0% interest loan so my payoff quote as stated on VWCredit's website would be the same as an official "Payoff Quote." sorry for your frustrations.
 

Fastlax16

Autocross Newbie
Location
Chitown
Car(s)
2019 DBP R
Yeah same I've got a 0% interest loan so my payoff quote as stated on VWCredit's website would be the same as an official "Payoff Quote." sorry for your frustrations.

itll get done. just an unexpected headache. I already had to get a pdr guy out because someone opened their door into it and put a nice dent on the fender.

giving up the 0% loan sucks though.
 

Fastlax16

Autocross Newbie
Location
Chitown
Car(s)
2019 DBP R
Yeah same I've got a 0% interest loan so my payoff quote as stated on VWCredit's website would be the same as an official "Payoff Quote." sorry for your frustrations.

If the grumbling I've found online is true, VW Credit is playing games and the payoff amounts they give Carvana, Carmax, vroom etc don't match the customer payoff amounts and they're intentionally being difficult so fewer customers sell their cars to them.
 

bentin

Autocross Champion
Location
Austin, TX
Car(s)
18 GTI SE - 3 Pedals
If the grumbling I've found online is true, VW Credit is playing games and the payoff amounts they give Carvana, Carmax, vroom etc don't match the customer payoff amounts and they're intentionally being difficult so fewer customers sell their cars to them.
Absolutely, our Q5 lease buyout was $29k on the phone message, but Audi Financial quoted Volvo and CarMax $39k. I suppose it’s better than BMW Financial who just isn’t allowing sales at the moment.
 

Fastlax16

Autocross Newbie
Location
Chitown
Car(s)
2019 DBP R
Absolutely, our Q5 lease buyout was $29k on the phone message, but Audi Financial quoted Volvo and CarMax $39k. I suppose it’s better than BMW Financial who just isn’t allowing sales at the moment.

I disagree with it but understand that they can legally pull it off for leases since they only commit to the written price if bought out by the lessee.

getting a payoff quote on a loan is different and shouldn’t be this fucking difficult. The outstanding balance is the outstanding balance regardless of who is paying it off.
 
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