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Discussion Starter #1 (Edited)
Unfortunately, due to COVID, I had to let go of my CbV XC40 T5 R-Design 10 months earlier. I transitioned into working from home and therefore, I'm barely driving the car, and I did not want to pay for an expensive paperweight. I decided to trade in my car to Carvana because they have the highest offer/appraisal, by as much as $3.5k! Anyways, here are my tips to how trade in your XC40 to Carvana:

  1. Do your Carvana appraisal on a Sunday night or early Monday morning. You only have 7 days to finish the entire process from sending the documents to setting up an appointment. If you miss this window, you have to reappraise your car, which may or may not be better because you could get a lower/higher offer. I made this mistake of doing it on a Friday evening, where offices are closed so I basically wasted 2 days. On Carvana's end, everything went smoothly during the weekends, but on Volvo? It was rocky (more on that later). They're only open on weekdays.
  2. Upload the required documents to Carvana ASAP. The required documents are: photo ID, car registration, photo of odometer reading, and "Consumer Lease Payoff". It will take about a day for Carvana to review your documents, and because Volvo will only provide us a "Consumer Lease Payoff" PDF on their website, Carvana will let you know that they need the "Dealer Lease Payoff". The only difference really is that the dealer lease payoff have extra fees. Also during this process, it is where I spent most of my time/effort because Volvo kept messing up. They kept telling me they will "send a fax" immediately to Carvana when in fact it will take 24 hours to process. And when it processed, they sent the Carvana the "Consumer Lease Payoff". According to last rep I talked to, only the dealer can request for it so I wasted a ton of effort because no one told me in the first place. There goes another wasted day for their mistakes.
  3. Setup a 3-way phone call by calling Carvana first. You could probably do this first before uploading the other documents but make sure you have the right documents in hand. I haven't done this but this may speed up the process. Either way though you'd have to setup a 3-way phone call by calling Carvana first (you'll have to wait about an hour), and just tell them you want them to contact Volvo so you can get the "Dealer Lease Payoff" because they don't provide to you or on their website. This could take awhile depending on how flooded Volvo is. Once the call is completed, it will take another day for Carvana to review all the documents.
  4. Get a cashier's check (if needed). I had to do this step because I owe a few hundred bucks because at the time because the payoff amount is higher the the appraisal/value of the car. You will get a text message from "Sebastian" (not sure if it's automated or a real person) if you have to pay the difference. You must send the documents to that text message before you can proceed on setting up an appointment. Once they review your documents again, you will get another message from that same number to set up an appointment. You'll also get an email, but I didn't any of them because I called them.
  5. Follow up! Because of my poor experience with Volvo, I called Carvana again to make sure they got all of documents they needed. They did verify they finally got all the documents and we can proceed with the appointment, which I did. Once you've set up your appointment, you'll get a confirmation email with the some tips and reminders.
  6. Say goodbye to your car. Hug, take photos of your car, or do whatever your parting way ceremony is lol
  7. Sign documents with the Carvana rep. On the day your car will be picked up, the rep who will pick up your car may roll up with the Carvana truck or arrive with an Uber. The rep will also be in full uniform. Mine arrived with the Carvana hauler. Also signing the documents is really easy actually.
  8. Release of liability. I live in California and only did it online via this link. I'm not sure how it works with other states. Now I was dead set on letting go of my Volvo so I did this the moment Carvana finished picking up my car. They technically have a 7-day get my car back/Return policy so if you're unsure about selling your car, I'd wait on releasing your liability.
And that's it! Hopefully these tips are helpful. If you want to know if Carvana paid off your car, login to your VCFS account on or after 7 days. If they did, you'll see a prompt to add a car to your online account when you login. Do note that "trade-in vehicles with current liens will be paid off once the sale is completed and after your 7-Day Money Back Guarantee. If you choose to swap vehicles, we will wait to pay off your trade until the end of your second 7-Day Money Back Guarantee. If you have a payment due within your 7 Day Money Back Guarantee, please make the payment as scheduled and your current lien holder will reimburse you for the overpayment once the vehicle is successfully paid." - Carvana FAQ

EDIT: Because I traded my car to Carvana, I actually just got a pretty hefty refund from Volvo because I ended the CbV 10 months earlier. So if you decide to trade in your car or buy it out early, you'll get a check from Volvo.
 

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Thank you so much for a very detailed explanation. It is greatly appreciated that you spent your valuable time trying to help the rest of us --very admirable of you. I apologize for my ignorance but recently I have heard of Carvana but not sure how it would work with Care by Volvo. I am planning on getting the 2021 XC 40 once it's offered and thought I would just roll over my current XC 40 to the new one. Wouldn't that be simpler I wonder?
 

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Discussion Starter #3
Thank you so much for a very detailed explanation. It is greatly appreciated that you spent your valuable time trying to help the rest of us --very admirable of you. I apologize for my ignorance but recently I have heard of Carvana but not sure how it would work with Care by Volvo. I am planning on getting the 2021 XC 40 once it's offered and thought I would just roll over my current XC 40 to the new one. Wouldn't that be simpler I wonder?
I'm glad to help! I wish a write up like this existed so I wouldn't have made those mistakes, so I wrote one for those who are thinking of getting out of their lease/CbV. But yeah sorry just saw this, and I didn't get a notification about your reply.

Maybe it is easier, not sure because I didn't go that route. All I know is that if you do go that route, you do have to sign another 2 year CbV contract with them every time you swap a new car. Honestly, if you don't mind the payments/signing a new contract, then why not go that route? I only went with Carvana because I didn't want to pay for an expensive car I barely drive.
 

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Discussion Starter #4
Just an update. With Care by Volvo, the insurance is prepaid as we all know. Because I traded my car to Carvana, I actually just got a pretty hefty refund from Volvo because I ended the CbV 10 months earlier. Better late than never right, but yeah just letting you guys know. So if you decide to trade in your car or buy it out early, you'll get a check from Volvo.
 
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