• Does Caramel offer instant payment methods so I can get my car right away?

    We do.

     

    On all transactions, you can pay Caramel via a wire transfer.  If you initiate your wire during banking hours, we can receive and clear your payment as soon as same day.  If you initiate your wire outside of banking hours, we'll clear your payment on the next banking day.  Please note that if the transaction price is $40,000 or greater, you will be required to make payment via Wire transfer.

     

    We also offer an Instant Payment method on most transactions with a payment up to $25,000.  For this payment method, you'll link your bank account similar to ACH, and we'll initiate the payment as soon as you sign your documents.  There are certain smaller banks that are not compatible with Instant Payment, and if your bank falls into this category we default back to wire transfer or ACH payment for you.  With Instant Payment, your payment will clear right away 24/7.  Instant Payments cost .5% of the payment amount.  

  • What payment methods does Caramel accept for buyers?

    Caramel accepts three payment methods:

     

    On all transactions, we allow buyers to pay via ACH.  To do so, there's an option to simply link your bank account to Caramel, and we initiate the ACH pull once you sign your documents.  It can take up to 3 business days for an ACH payment to clear.

     

    Also on all transactions, buyers can pay via wire transfer.  This is a great option if you are looking to pick up your car or have your car transported more quickly, as wires can clear as fast as same day or on the next business day.  Please note that if the transaction price is $40,000 or greater, you will be required to make payment via Wire transfer.

     

    Finally, on most transactions with a payment up to $20,000, we allow customers to make an Instant Payment.  For this payment method, you'll link your bank account similar to ACH, and we'll initiate the payment as soon as you sign your documents.  However, your payment will clear right away 24/7 so you or a transporter can get your car right away.  Instant Payments cost .5% of the payment amount.

  • What is Plaid and how does it work?

    Plaid is a secure and credible service we partner to make and receive payments electronically with you. Caramel has no access to your bank account when you use Plaid. Plaid will guide you to use your bank login information to get connected. If you have trouble, you’ll enter your account and routing numbers, and Plaid sends you small deposits to verify and connect your account. Once you confirm the amounts, they’re reversed and you’re set.

  • Will I be charged when I link my bank account?

    No. You will not be charged & funds will not be withdrawn until you sign your documents in the Signature step.

  • How do I know the exact amount that I will be charged?

    In your Price Breakdown, the total due at signing is the exact amount that you will be charged. This will include the full purchase price of the car and any other selections if you pay in cash. If you finance the car or Caramel Care, it will include the down payment for those items.

  • When does my payment need to be initiated in order for me to be cleared the same day?

    Your “Same Day ACH” must be submitted and approved before 12:00 PM PT on a business day in order to be sent with a same day effective date.  Otherwise it will be sent the following business day.

  • Can I pay in person?

    You cannot. We partner with Plaid to offer a convenient same-day bank withdrawal for all buyers. We then release funds to sellers at exactly the right moment for the protection of buyers and sellers. This is more secure than any in-person payment.

  • What DMV, title and registration fees am I being charged?

    Caramel passes through DMV fees to you at no mark-up.  These are the fees you pay to transfer your title and register your car whether or not you use Caramel.

  • Will I be refunded if my seller or I cancel?

    As long as your transaction is canceled before your car is picked up by you or your transporter, you’ll receive a full refund, which can take 7-10 business days depending on your bank’s processing time.  After the car is picked up, the sale is no longer cancellable.