Selling vehicle to EverCar
We are selling a six month old BMW i4 in Northern California. Extremely low miles and in essentially pristine new condition but of course painfully depreciated (we don’t like the car and wanted to move on). EverCar made an offer that is more than 10% higher than offers from CarMax and others. The way their process works is that you send them the signed over title by FedEx (they pay for that). When the vehicle is picked up they send you payment by ACH. That means you get the funds in 1-3 days.
Under ACH procedures it is possible for them to claw back their payment for a period of time. They are not inspecting the car at pickup or before. Only photos.
I’m concerned they could make some claim about the condition of the car, claw back their payment funds and leave me with a claim to be fought in arbitration.
I’m not worried that the car is less than perfect in our hands but who knows what happens after that? They are a legitimate company but I don’t like a deal structure that exposes me to risk that is greater than a hand off in exchange for a cashiers check or wire transfer.
The $$ involved are not trivial, more than $40k. I hate to lose several $k by walking away from them but am concerned. Anyone have experience selling to them? Thoughts on the risk?