Username or Email Address
Do you already have an account?
Forgot your password?
  • Log in or Sign up

    VWVortex


    The Car Lounge
    Page 1 of 2 12 LastLast
    Results 1 to 35 of 66

    Thread: Anyone ever sell a car to Carmax?

    1. 05-31-2007 12:04 PM #1
      How close was their price to Private party/Retail/Trade-In etc.?

    2. Geriatric Member AKADriver's Avatar
      Join Date
      Nov 20th, 2001
      Location
      Unreal VA
      Posts
      41,043
      Vehicles
      NB Miata
      05-31-2007 12:05 PM #2
      I believe it's their standard policy to offer 5% over Kelley Blue Book Trade-In value.
      Splinter - Team Post-Killing Ninja
      I don't practice llanteria

    3. 05-31-2007 12:09 PM #3
      Quote, originally posted by AKADriver »
      I believe it's their standard policy to offer 5% over Kelley Blue Book Trade-In value.

      I worked there, and thats the first I have heard of that.

      Valuations depend on a number of things: the used car market, the seasons, demand for the car you have, its condition and milage, etc.

      But as a rule, they offer "high trade" for a given vehicle. That is to say take your appraised trade in value (from KBB, NADA, Edmunds TMV, etc) and they will usually match or beat it....IF YOU ARE HONEST.

      This last part is key. You need to be realistic about what your trade is worth. When appraising my personal vehicles, I appraise them in "rough"condition, then subtract $350 off that figure to arrive at a very pessimistic "bottom line" that I won't go under. Anything over that figure is gravy.


    4. Member Avicenna's Avatar
      Join Date
      Jul 22nd, 2001
      Location
      California
      Posts
      7,551
      Vehicles
      Z4 Coupe. A4, VeraCruz
      05-31-2007 12:10 PM #4
      Ive sold a couple of cars to Carmax and the prices they offered me were quite fair and comparable to market value. its a free appraisal, doesn't hurt to get one.
      You must not lose faith in humanity. Humanity is an ocean; if a few drops of the ocean are dirty, the ocean doesn’t become dirty

    5. 05-31-2007 12:11 PM #5
      Quote, originally posted by Avicenna »
      Ive sold a couple of cars to Carmax and the prices they offered me were quite fair and comparable to market value. its a free appraisal, doesn't hurt to get one.

      It can also be used as leverage for other dealers too.

      I sold one car to CarMax, and absolutely would recommend the process to anyone needing to unload a car. Their business practices are above reproach.


    6. Geriatric Member AKADriver's Avatar
      Join Date
      Nov 20th, 2001
      Location
      Unreal VA
      Posts
      41,043
      Vehicles
      NB Miata
      05-31-2007 12:13 PM #6
      That's just what I'd heard, and it jives with what I've personally done.

      I sold my Protege5 to Carmax. What they offered me was actually above the KBB trade-in value for "good" condition even though the hatch carpet/spare tire cover was missing (they had stinky used gear oil spilled on them and I couldn't get them clean). Their offer was also better than what any private parties were offering me, even though I had it listed for $2000 over what I ended up taking from carmax. Bunch of friggin' lowballers out there - the lack of hassle is part of the bargain.

      Splinter - Team Post-Killing Ninja
      I don't practice llanteria

    7. Member SpeedRicer's Avatar
      Join Date
      Feb 7th, 2002
      Location
      London UK and Los Angeles USA
      Posts
      12,109
      05-31-2007 12:14 PM #7
      Quote, originally posted by Download_Complete »
      I sold one car to CarMax, and absolutely would recommend the process to anyone needing to unload a car. Their business practices are above reproach.

      Agreed -- I followed Matt's advice above and sold my TSX to Carmax. It was only a few months old when I sold it (so I would have gotten reamed anywhere else), but I still got closer to the private-party value than the trade-in value.


    8. 05-31-2007 12:18 PM #8
      From what I remember, they say that they base their appraisals on what they can fetch at auction for the cars. Whether or not that's true, I'm not sure...but I can say with 100% certainty that selling my GTI there was a completely hassle-free process.

    9. 05-31-2007 12:34 PM #9
      Quote, originally posted by schtebie »
      From what I remember, they say that they base their appraisals on what they can fetch at auction for the cars. Whether or not that's true, I'm not sure...but I can say with 100% certainty that selling my GTI there was a completely hassle-free process.

      It is, to an extent. When you think about it, trade ins are a large part of a used car inventory, so why not open the process up and try to get more? It lowers their costs since they don't have to go to auctions, and they actually sell off what they don't want as wholesale to other dealers, another source of profit for them/

      Granted, the values are skewed to "desirable" cars. Come in with a rusty Plymouth Acclaim and you won't get much besides a "we'll take this POS off your hands for you" from them.

      But lets say you come in with, like SPeed *****'s, a sparkling Acura TSX? Thats a HUGE seller for CarMax, and it makes sense for them to offer you top dollar for it.


    10. 05-31-2007 12:53 PM #10
      I know it's low hassle to sell to CarMax but really how hard is it to sell a used car on your own? You'll get hundreds of dollars more - I never understand why people trade in or sell to CarMax.

    11. 05-31-2007 12:58 PM #11
      Quote, originally posted by baselegacy »
      I know it's low hassle to sell to CarMax but really how hard is it to sell a used car on your own? You'll get hundreds of dollars more - I never understand why people trade in or sell to CarMax.

      For a cheaper car its cake. For a more expensive car, not so much. When banks and loans start getting involved, you quickly see the value in letting a third party handle it. And for my time, it would need to be in the 4 digits for me to justify dealing with the hassle. "Hundreds" doesn't even blip my radar.

      And you aren't taking into account people who get transferred out of the area and need to shed cars NOW. CarMax is an invaluable service for people who need to dump a car immediately.


    12. Member nm+'s Avatar
      Join Date
      Jan 6th, 2006
      Location
      Land of Bro-Dozer Ya Yas
      Posts
      19,170
      Vehicles
      2005 Legacy GT Wagon 5MT w/overnight diffs from Japan; 2013 Mazda 2 5MT
      05-31-2007 01:01 PM #12
      Quote, originally posted by Download_Complete »

      I worked there, and thats the first I have heard of that.

      Valuations depend on a number of things: the used car market, the seasons, demand for the car you have, its condition and milage, etc.

      But as a rule, they offer "high trade" for a given vehicle. That is to say take your appraised trade in value (from KBB, NADA, Edmunds TMV, etc) and they will usually match or beat it....IF YOU ARE HONEST.

      This last part is key. You need to be realistic about what your trade is worth. When appraising my personal vehicles, I appraise them in "rough"condition, then subtract $350 off that figure to arrive at a very pessimistic "bottom line" that I won't go under. Anything over that figure is gravy.


      Note however that KBB/edmunds/whatever can be way off on actual value of certain cars. Does carmax account for that?
      My only camry was values at something like $1000 trade in good codition by KBB. I sold it for $3000 while disclosing some major reapirs (new axles). This was still somehwat below what a dealer could have sold for. Good condition cars in the area at dealers were asking $4-5k.
      I don't mind some loss on a car to avoid the annoyance of selling, but a loss off $1k-$2k on a $3k-4k car is quite a bit.
      Quote Originally Posted by Ducky TSX
      The Car Lounge likes to compare apples to llamas

    13. Banned
      Join Date
      Nov 28th, 2005
      Posts
      7,987
      05-31-2007 01:03 PM #13
      Quote, originally posted by baselegacy »
      I know it's low hassle to sell to CarMax but really how hard is it to sell a used car on your own? You'll get hundreds of dollars more - I never understand why people trade in or sell to CarMax.

      Because selling a car on your own is sometimes a hassle. My dad tried for several months to sell his 2003 TDI when he was in the market for his 2006. We advertized on cars.com and got a few calls, one as far away as California but only one guy came to look and he was looking for a steal, kept nickel and diming every slight flaw he found and even wanted my dad to take money off the top because the car had tinted windows and he didn't care for tinted windows. After that my dad said "**** it" and traded. He got a pretty good trade value on it as I recall and was only upside down on the new car loan by about a $1000, which was mostly covered by the tax rebate he got back from the state for buying a fuel efficient car.


    14. Member nm+'s Avatar
      Join Date
      Jan 6th, 2006
      Location
      Land of Bro-Dozer Ya Yas
      Posts
      19,170
      Vehicles
      2005 Legacy GT Wagon 5MT w/overnight diffs from Japan; 2013 Mazda 2 5MT
      05-31-2007 01:08 PM #14
      Quote, originally posted by baselegacy »
      I know it's low hassle to sell to CarMax but really how hard is it to sell a used car on your own? You'll get hundreds of dollars more - I never understand why people trade in or sell to CarMax.

      Selling my car, I had to field so many stupid low-ball offers, tire kickers with no intent to buy, charities in Nigeria that wanted to send me $2kl more so I could refund it to them, and many people who missed appointments without calling. I'd pay someone a decent chunck to sell my car for me, just not quite as much as I was fixing to lose.
      Also, between the time I listed it and sold it, I had to replace a flat tire and a radator. Had I sold it instantly, no problem


      Modified by nm+ at 10:09 AM 5-31-2007
      Quote Originally Posted by Ducky TSX
      The Car Lounge likes to compare apples to llamas

    15. 05-31-2007 02:21 PM #15
      Quote, originally posted by nm+ »

      Note however that KBB/edmunds/whatever can be way off on actual value of certain cars. Does carmax account for that?
      My only camry was values at something like $1000 trade in good codition by KBB. I sold it for $3000 while disclosing some major reapirs (new axles). This was still somehwat below what a dealer could have sold for. Good condition cars in the area at dealers were asking $4-5k.
      I don't mind some loss on a car to avoid the annoyance of selling, but a loss off $1k-$2k on a $3k-4k car is quite a bit.

      They generally do. The KBB/Edmunds/NADA resources are only given a passing look when valuing a car. They generally go by auction reports and the Black Book, and some other hocus pocus they wouldn't let me see. Suffice to say its an aggregate of a number of factors, including car buying climate at the time. What I mean by that is lets say its winter, and a new convertible comes out. CHances are, your NA Miata dropped quite a bit because of those two factors.

      See what I mean? I am not being as specific as I could be, but I think you get the point.


    16. 05-31-2007 02:32 PM #16
      Quote, originally posted by baselegacy »
      I know it's low hassle to sell to CarMax but really how hard is it to sell a used car on your own? You'll get hundreds of dollars more - I never understand why people trade in or sell to CarMax.

      Since I always buy manuals, it has been a pain to get rid of my cars. I tried to sell my Protege for 2 months and mainly got jerks looking for a steal and people that found out it was a stick and said no (people can't read ads for crap). Its just so much easier to take a small loss (maybe) than to have to deal with their crap.

      Has anyone else noticed dealerships that just aren't even interested in your trade anymore? Last two times I've bought the dealers just told me to take it to CarMax.


    17. Member SpeedRicer's Avatar
      Join Date
      Feb 7th, 2002
      Location
      London UK and Los Angeles USA
      Posts
      12,109
      05-31-2007 02:39 PM #17
      Quote, originally posted by Download_Complete »
      And you aren't taking into account people who get transferred out of the area and need to shed cars NOW. CarMax is an invaluable service for people who need to dump a car immediately.

      Yep, that was my situation. I was was flying cross-country and overseas every week and clocking maybe 50-100 miles per month on my car.

      Selling to Carmax was almost as easy as dropping off a rental car, as it took less than an hour for the whole process. The few hundred dollars I lost were easily recouped by not having to make another monthly payment or spending time posting ads, etc.


    18. Member fueledbymetal's Avatar
      Join Date
      Aug 6th, 2001
      Location
      St. Mary's, MD
      Posts
      4,578
      Vehicles
      2013 GTI, 2013 FR-S, 2003 S2000
      05-31-2007 03:02 PM #18
      Quote, originally posted by kc5zom »

      and people that found out it was a stick and said no (people can't read ads for crap). Its just so much easier to take a small loss (maybe) than to have to deal with their crap.

      I hear that. When selling both my Corvette and Miata, I think 75% of the people calling were interested in an automatic while I had clearly stated they were manual in the ad.

      I'm glad to hear carmax is reasonable to deal with. I'll definitely give them a try the next time I need to trade in a car.


    19. Senior Member
      Join Date
      Nov 7th, 2001
      Location
      The Village
      Posts
      20,820
      Vehicles
      KAR 120C
      05-31-2007 03:10 PM #19
      That's another thing most people won't consider: if you are close to making another monthly loan + insurance payment (most likely $4-600 on most cars, combined), you have a bit more room to move on the price if you don't pay that out.

      Also, what price do you place on your time?

      The last car I sold on the open market (not to a friend) was a huge pain in my ass.

      I spent 2 days detailing it, then countless evenings/weekend days showing it to retards that wanted to pick apart every little detail. (It didn't help that I was asking high book and wouldn't take much less.)

      Then I had a bidding war occur resulting in one very pissed off sore loser, and a buyer who didn't bother to get a PPI (against my recommendation) and then wouldn't stop calling me about things they found with the car (mind you, I had disclosed EVERYTHING I knew about the car, good and bad--I spent 45 minutes with them going over it).

      Did I get more $ for it than I would have trading it in? Yes. Would I do that again with my current car? Hell no.


    20. Social Media Iron Man(and Administrator) jebglx's Avatar
      Join Date
      Jul 13th, 2000
      Location
      VWvortex Fourtitude SpeedArena Swedespeed
      Posts
      40,771
      Vehicles
      2007 VW GTI 5DR
      05-31-2007 03:12 PM #20
      if you have any aftermarket items on your car (even just wheels), it's better to go back to stock

      my brother was a senior car buyer for carmax for years and he always said to return the car to stock

      bill


    21. Member Benjamin.'s Avatar
      Join Date
      Nov 12th, 2001
      Location
      Hanover, PA
      Posts
      9,792
      Vehicles
      2006 Escape 5MT, 2010 Prius
      05-31-2007 04:43 PM #21
      Does it pay to clean/detail the car before going? Will you get any more than if it's dirty, or do they basically know they're going to have to detail it anyway, and offer the same?

      Also, how do they deal with body damage? My xB has a crack in the rear bumper cover, and a good scuff on the front bumper - do they just factor that in and offer slightly lower?


    22. 05-31-2007 04:47 PM #22
      Quote, originally posted by mynameisphunk »
      Does it pay to clean/detail the car before going? Will you get any more than if it's dirty, or do they basically know they're going to have to detail it anyway, and offer the same?

      Also, how do they deal with body damage? My xB has a crack in the rear bumper cover, and a good scuff on the front bumper - do they just factor that in and offer slightly lower?

      They take any and all cosmetic damage into account. They actually figured out that I had had my hood repainted at one point. I took my car to a $5 car wash the day before so it was presentable.


    23. Social Media Iron Man(and Administrator) jebglx's Avatar
      Join Date
      Jul 13th, 2000
      Location
      VWvortex Fourtitude SpeedArena Swedespeed
      Posts
      40,771
      Vehicles
      2007 VW GTI 5DR
      05-31-2007 04:55 PM #23
      they don't really car if the exterior of the car is dirty...now the interior is a different matter.

      my bro had this really cool meter that could measure the thickness of the paint to see if a car had been repainted at one time or several times

      bill


    24. Member bluerabbit0886's Avatar
      Join Date
      Nov 19th, 2003
      Location
      Phoenix, AZ
      Posts
      8,880
      Vehicles
      2013 GTI
      05-31-2007 04:58 PM #24
      my parents just sold their A3 to carmax in c'ville. gave them and very fair price for the car
      Quote Originally Posted by butterface View Post
      It isn't whether a government can represent its people that is the best measure of its effectiveness. Rather, it's whether a government is designed to leave its people alone.

    25. Member BUJonathan's Avatar
      Join Date
      Mar 2nd, 2004
      Location
      Chicago, IL
      Posts
      1,875
      Vehicles
      2012 Mazda3
      05-31-2007 05:10 PM #25
      Quote, originally posted by baselegacy »
      I know it's low hassle to sell to CarMax but really how hard is it to sell a used car on your own? You'll get hundreds of dollars more - I never understand why people trade in or sell to CarMax.

      Honestly, in this day and age, selling a used car can be a hassle. You go through the process of listing it online (which is intimidating for many non-enthusiasts), then you have sift through the scams/low-ballers/16 year old kids (again, intimidating for many non-enthusiasts). The whole situation gets even more complex when you're trying to sell a car with a lien on it, where the Lender holds the title. The pay-off process can be a headache for sellers, and many buyers don't have the patience to wait for the title.

      If we're talking a <$5,000 car, then yea, sell it yourself, and get the buyer to pay cash. But in say a $10,000 or $15,000 used car, no one is going to pay cash. So, you've got some risk in taking a cashier's check, even more so if you still have a lien on the car. No one wants to sell a car, have the cashier's check bounce, then be stuck making payments on a stolen car.


    26. Banned
      Join Date
      Nov 28th, 2005
      Posts
      7,987
      05-31-2007 05:12 PM #26
      Quote, originally posted by Numbersix »
      That's another thing most people won't consider: if you are close to making another monthly loan + insurance payment (most likely $4-600 on most cars, combined), you have a bit more room to move on the price if you don't pay that out.

      Also, what price do you place on your time?

      The last car I sold on the open market (not to a friend) was a huge pain in my ass.

      I spent 2 days detailing it, then countless evenings/weekend days showing it to retards that wanted to pick apart every little detail. (It didn't help that I was asking high book and wouldn't take much less.)

      Then I had a bidding war occur resulting in one very pissed off sore loser, and a buyer who didn't bother to get a PPI (against my recommendation) and then wouldn't stop calling me about things they found with the car (mind you, I had disclosed EVERYTHING I knew about the car, good and bad--I spent 45 minutes with them going over it).

      Did I get more $ for it than I would have trading it in? Yes. Would I do that again with my current car? Hell no.

      Another story:

      When I wanted to sell my '90 oldsmobile Touring Sedan, I first offered it to a co-worker of my ex-wife who "desperately" needed a car. I was offering it for $1600 but said since she was a friend of my then wife who was in a tight spot, I'd let it go for $1000. She came over with her parents and some mechanic who didn't speak any english. He looked over the car and kept telling them that it would be impossible to find parts for it because it was a "special model" (the only thing separating the Touring Sedan from the average Oldsmobile 98/any other full sized GM FWD with the 3800 V6 was the FE3 suspension with load leveling, center counsol and the bucket seats. Other than that, parts are easy to find and are available pretty much anywhere.) I think they hired him to do any work that might be needed and he just didn't want to do any actual work. The only things the car really needed were new brakes, a new dryer for the air conditioner and a new gasket for the automatic transmission pan (it had a slow leak). The load leveling system was also not functioning (air bag leak) but that didn't affect the way the car ran. I had replaced the battery, the turn signal switch, the light sensor for the Twilight Sentinel, the drivers seat belt buckle and the headliner. It started and ran great. Despite having nearly 200k on it the engine ate no oil and trace amounts of coolant. They decided not to buy the car. I ended up selling it to my friend who still has it to this day.


      Modified by RatRedux at 3:13 PM 5-31-2007


    27. Senior Member Chris16vRocco's Avatar
      Join Date
      Apr 29th, 2006
      Location
      No ragrets
      Posts
      23,829
      Vehicles
      Swedish Meatbrick
      05-31-2007 05:33 PM #27
      A guy I work with sold his 98 Pathfinder to Carmax. He knows a guy there, and they showed him the book with the values in it that they use, and gave him the highest amount in there (it was really clean). They gave him like $6000 for it. A week later, they're selling it for $13,000. If he didn't have to sell it that day, he could have sold it himself and gotten quite a bit more for it.
      Deal with it.
      80 Scirocco|87 Scirocco 16v|74 Manta A|74 Land Cruiser|84 230CE|91 164L|86 740GLE td
      =====>last.fm<=====|MusicGourmets.com

    28. Geriatric Member ATL_Av8r's Avatar
      Join Date
      Oct 17th, 2002
      Location
      Gapiana
      Posts
      40,643
      05-31-2007 05:42 PM #28
      I sold my 4Runner to them and they offered me a great price considering it needed some axle work I didn't exactly disclose.

      Came back to bite me as they sold me a car that had been in an accident and had a lot of bodywork done to it.

      So I guess we're even

      MemeGate 2012 - First Responder, post #2

      Quote Originally Posted by .skully.
      Mike, quote me in your signature

    29. 05-31-2007 05:48 PM #29
      Quote, originally posted by Chris16vRocco »
      A guy I work with sold his 98 Pathfinder to Carmax. He knows a guy there, and they showed him the book with the values in it that they use, and gave him the highest amount in there (it was really clean). They gave him like $6000 for it. A week later, they're selling it for $13,000. If he didn't have to sell it that day, he could have sold it himself and gotten quite a bit more for it.

      Prices there are ridiculous. I would never buy a car from them. That extra money just buys a short warranty (30 days I think) and some mechanic looked it over for you (hopefully doing a good job). Both services I can handle myself.


    30. 05-31-2007 05:53 PM #30
      My dad sold his S2000 to Carmax back in 03, I will never forgive him. It had less than 5,000 miles and they only gave him 21,000.

    31. Member green tea's Avatar
      Join Date
      Feb 17th, 2001
      Location
      Bay Area, CA
      Posts
      4,119
      05-31-2007 06:01 PM #31
      how does it work if you still owe money on the car and want to sell the car?


      Modified by green tea at 3:04 PM 5-31-2007

    32. Member SpeedRicer's Avatar
      Join Date
      Feb 7th, 2002
      Location
      London UK and Los Angeles USA
      Posts
      12,109
      05-31-2007 06:02 PM #32
      Quote, originally posted by green tea »
      how does it if you still owe money on the car and want to sell the car?

      You have to cut them a cashier's check for the difference between the loan payoff and the sales price (if lower than the payoff).


    33. Member Acedia's Avatar
      Join Date
      Feb 4th, 2003
      Location
      DC
      Posts
      1,193
      Vehicles
      2012 Acura TSX Wagon; 2006 Honda Civic
      05-31-2007 06:19 PM #33
      They offered me a price equal to the Edmunds TMV for trade-ins the one time I asked

    34. 05-31-2007 06:28 PM #34
      It's probably because my Jeep had 100k on the odometer, but they offered me $2500. Low end private party for this car is closer to $4000, but $2500 is about the trade in price.

      I sold it on craigslist for $5000.


    35. Member socal20thAE's Avatar
      Join Date
      May 21st, 2005
      Posts
      831
      Vehicles
      2015 Nissan Versa (Daily), 2012 Subaru WRX (Not so Daily), 2009 Aprilia SC125 (Never Used)
      05-31-2007 08:27 PM #35
      My grandpa sold his 2002 T-Bird to them, he recieved 2000 more than he was expecting to get. Their pricing is fair, competitive, and they show you the KBB printouts for reference.

    Page 1 of 2 12 LastLast

    Posting Permissions

    • You may not post new threads
    • You may not post replies
    • You may not post attachments
    • You may not edit your posts
    •