To complete a transaction using Caramel, every buyer & seller must have their identity verified. This ensures the safety of our entire community.
Before your customers link their bank accounts to pay, they will review your detailed price breakdown. We partner with Plaid to let them securely connect their bank accounts in seconds. The process is encrypted end-to-end.
We automatically detect whether your sellers car has a loan or lease and find their payoff amount. If so, you'll simply confirm this amount and move on. If they don’t have a loan or lease on your vehicle, uploading their title is as easy as snapping a photo of the front & back.
The forms you sign will be all digital, streamlining the transaction process. Because Caramel purchases the vehicle from your private seller and then sells the vehicle to the private buyer, this gives you the peace of mind that a reputable company is responsible to get the vehicle and title in your buyers name.
Easy to Start
Any GT1 Member can start a Deal Transaction. Select the vehicle, the Buyer's price, the Seller's price, and any Broker splits (via mobile phone number).
Click the "Initiate Deal Transaction" and this will initiate the transaction process with PocketList and Caramel handling all paperwork, financial transfers, and DMV documents. The Buyer will receive an email from Caramel to accept their offer and proceed through checkout.
The Broker Fee Splits will temporarily sit in the Pending Broker Payouts tab of the Points & Payouts settings. You will be the main point of contact for communicating with the Buyer and Seller.
Your payment amounts will remain confidential. Buyers and Sellers won't see each other's payment details.
Effortless Broker Fee Payout
Broker fees will be automatically processed through your chosen payout method. You can update your preferences in the Points & Payouts settings. Payout is triggered upon vehicle shipment pickup to the Buyer.
Sellers enjoy a secure transaction process by purchasing directly from a licensed dealer, eliminating risk and ensuring their financial privacy. There's no need to disclose payment details to unfamiliar buyers. Sellers receive 50% of the payment upon furnishing the title, with the remaining 50% disbursed upon the successful shipment of the vehicle.
Buyers enjoy a secure transaction process by purchasing directly from a licensed dealer, eliminating risk and ensuring their financial privacy. There's no need to disclose payment details to unfamiliar sellers.
On the Title step, the Seller will upload photos of the title, if the Seller has it, and photos of the vehicle's VIN & odometer. If the Seller has a loan or lease on the vehicle, they will confirm the lienholder's name and won't have to upload title photos.
Payout Details Step
The Seller will link the bank account where they would like to receive payment via Mercury® from PocketList.
The Seller will sign the Bill of Sale, the Purchase Agreement, the Power of Attorney, the Pre-Sale Vehicle Inspection Report, the Vehicle History Report, and the Guarantee of Title.
If the Seller has a loan or lease on the vehicle, we take care of all of the work.
Accept Offer Step
On the Accept Offer step, Buyers will be notified via email from Caramel to accept their offer. They'll accept the offer and then proceed through checkout.
On the Identity step, Buyers's will enter their address and go through an identity check.
On the Financing step, your Buyer can optionally apply for financing from the top national banks who partner with Caramel. Even though multiple banks will review your Buyer's financing application and may present them loan offers, your Buyer will only receive one hard credit check when you apply.
On the Protection step, your Buyer can optionally add protection for the new vehicle, which could save them thousands of dollars annually on repairs.
On the Insurance step, your Buyer can optionally add an insurance policy for their vehicle purchase.
On the Transport step, your Buyer you can optionally choose from multiple vehicle transport options if they don’t want to pick up their vehicle from your private Seller.
To ensure every transaction is completed smoothly, we pause the Buyers briefly before they complete the Payment & Signature steps. During this pause, we verify the Seller’s title and the details about the vehicle, as well as any doc fees, state fees, and taxes you would owe. Once we're confident, we send you an email letting you know that you can complete your final two steps of the Caramel checkout process.
Payment Details Step
The Buyer will link the bank account where they would like to submit payment from.
The Buyer will sign their purchase documents digitally.
The forms your Buyer will sign will show Caramel as the seller, because Caramel purchases the vehicle from your private Seller and then sells the vehicle to the Buyer. This gives your Buyer the peace of mind that a reputable company is responsible to get the vehicle and title in their name.
Payment & Payout
When the Buyer signs, the funds are transferred to Caramel
As soon as your Buyer signs their documents on the Signature step, the checkout process is complete. Immediately, the process of transferring the Buyer's funds to Caramel begins. Our standard process typically takes about 48 hours. During this time, we ensure funds settle in Caramel's account. We then immediately notify both parties they can meet for pickup or we initiate transport when selected. These escrow-like safeguards protect both buyer and seller. Sometimes buyers need to get their car faster. Just chat us if so, and we can help you with much faster payment methods, like wire transfers.
The seller is paid 50% immediately by PocketList when Caramel receives the correct title
Once a buyer's funds are received & settled by Caramel, Caramel will send sellers who do not have a loan or lease on their vehicle a prepaid overnight FedEx label to deliver their title. As soon as Caramel receives the title via FedEx, Caramel will initiate half of the seller's payment to PocketList to then submit to the bank account the Seller linked.
The seller is paid 50% immediately when the car is picked up
Once a vehicle leaves a seller's possession, Caramel initiates half of the seller's payment to PocketList to send to the bank account the Seller linked. And for sellers who don't have their title, Caramel will initiate their full payment to PocketList to submit to Seller at this time. When the car is being picked up, the buyer can simply confirm they've done so on the Caramel app or website.
The Broker Fee is paid 100% immediately when the car is picked up
Once a vehicle leaves a seller's possession, and PocketList has received the appropriate transfers from Caramel, PocketList will initiate 100% of the Broker Fees (including your fee split if added on initial start) to the bank accounts they have linked in their Points & Payouts settings.
Title & Registration
Once paid, the Buyer receives temporary registration to drive
Once a Buyer's funds are received & settled by Caramel, Caramel will send the Buyer a temporary registration permit for their new vehicle. This permit can be printed and affixed over the existing license plate or on the back of the vehicle where the license plate will be placed. With this temporary registration permit, Buyers can legally operate their vehicle as soon as they pick it up or receive it. This permit is valid for 40 days.
If the Seller has the title, they will receive a prepaid label to send it in
Once a Buyer's funds are received & settled by Caramel, they will send Sellers who do not have a loan or lease on their vehicle a prepaid overnight FedEx label to send Caramel their title. Sellers do not have to sign their titles, as they delegate authority to Caramel to do so during the digital Signature documents.
Caramel will handle title transfer and permanent registration with the DMV
While a Buyer is using their temporary registration permit to legally operate their new vehicle, Caramel will work with the DMV to finalize their permanent registration, title, and plates. The Buyer will then receive these in the mail to their home address. In most cases this takes less than the 40 days for which your temporary registration permit is valid. In rare instances where the DMV or a Seller's lienholder is a bit slow, Caramel will proactively send Buyers a new temporary registration permit a few days before the first one expires.