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Old 06-19-2012, 10:12 PM
 
40 posts, read 137,721 times
Reputation: 44
Lightbulb Sell car to dealer vs. carmax?

Has anyone had any experience selling a car to a dealership vs. a place like CarMax? I'm not looking to buy a new car, just sell a second car that we don't use.

I could also place an ad on craiglist, etc., but I've heard that is a huge hassle and might take forever.
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Old 06-19-2012, 11:52 PM
 
Location: Avery Ranch, Austin, TX
5,104 posts, read 5,811,931 times
Reputation: 1896
Quote:
Originally Posted by NakedApe View Post
Has anyone had any experience selling a car to a dealership vs. a place like CarMax? I'm not looking to buy a new car, just sell a second car that we don't use.

I could also place an ad on craiglist, etc., but I've heard that is a huge hassle and might take forever.
CarMax will take the car and give 'top' dealer dollar only if the car is bone stock and has very little wear(at least, that's been my experience). I reckon the dealer might make an offer if the vehicle is sought after. CarMax is pretty straightforward once the process starts(in the past, anyway).

Naturally, the dealers want to deal with a wholesale price so they can make their profit. In theory, a private sale should land somewhere between wholesale and used retail. Edmunds lists trade-in, private party sale and dealer retail on their site to give you some idea of the 'value' of your ride. You could also check KBB and the prices being asked on various sites, including craig's.

If it's an interesting car that has a 'club' following, you might try their club site(local or regional) to find parties 'zeroed in' on your model. It seems the Volvo forum sales are pretty active for vehicles as well as parts, accessories, etc.

My only local CL sale was pretty smooth except for the paperwork required by the county. I contacted someone who was LOOKING for a vehicle and made the deal. They got a pretty good deal, I sold the car in two days.

Last edited by 10scoachrick; 06-19-2012 at 11:56 PM.. Reason: 'cause
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Old 06-20-2012, 04:58 AM
Status: "Ain't no cure for the summertime blues!" (set 21 days ago)
 
Location: Jollyville
2,689 posts, read 5,267,767 times
Reputation: 2003
There are a lot of dynamics at work when it comes to selling a used car. First thing to do is go to the websites like Edmunds, KBB, NADA, etc and get an estimate of what it's worth Trade-In and Private Party. Neither a car dealer or Carmax will give you more than trade-in value, and there's no guarantee there. If you're buying new, they'll deduct the cost of the trade-in from the sales price so you pay less sales taxes.

Used cars are in high demand right now. Last year, we had a 2006 Civic in great condition with low miles. Dealer offered us $9000 for it and I sold it on craigslist to the first person who responded on the first day for $11000. I could have possibly gotten more if I had held out - Carmax had an identical car for sale for $16000 - can you imagine - that was almost the cost of it when it was new!

I've also used Autotrader to sell cars, there's a fee, but you get better traffic. If selling a car to an individual makes you uncomfortable, by all means, sell to a dealer or Carmax. It's easy and you walk away with a check. Carmax gives you a quote that is good for 30 days I think, so go get one from them and then take it to the dealer and see if they can do better.
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Old 06-20-2012, 06:54 AM
 
Location: Round Rock
482 posts, read 1,044,058 times
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Not the same as just selling a car but I thought I'd share. I bought a new car last year. I went to the dealer and told them I was trading in my Honda Odyssey (had some fender bender damage) - already did my research on how much I could get. They offered $4800 - to which I laughed at and walked away from the deal. I then went to carmax and they offered me $7000. SO I went back to the dealer with the offer in hand and they then offered me $7100 for the car.
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Old 06-20-2012, 06:56 AM
 
497 posts, read 570,827 times
Reputation: 387
Carmax has a reputation for paying very well for used cars. They also sell at a higher price than you may be able to find haggling elsewhere. "Car guys" at some of the forums I visit like to sell to Carmax and buy elsewhere.

BTW, although they really are "no haggle" when buying a car, you can haggle with them when you sell them one.
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Old 06-20-2012, 07:30 AM
 
Location: Austin, TX
8,504 posts, read 16,959,790 times
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Through a couple of sales, I have found that Carmax is the easiest and quickest way to sell a used car at a reasonable fair price. It is not the BEST price you can get, but they don't really try to totally rip you off, at least from what I see.

A dealer is playing several sides to the game at once, and can often give you a 'better' price by negotiating the sales price of the new vehicle, as well. Since this is not a factor for you, I doubt you can do any better (or even as good as) Carmax. The trade-in at a dealer also saves you quite a bit on sales tax, potentially, but not an issue for you case, either.

Autotrader or direct to an individual is the best price almost every time, but a lot more effort.
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Old 06-20-2012, 08:01 AM
 
Location: Round Rock, TX
426 posts, read 826,898 times
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Quote:
Originally Posted by Moonlady View Post
If selling a car to an individual makes you uncomfortable, by all means, sell to a dealer or Carmax. It's easy and you walk away with a check. Carmax gives you a quote that is good for 30 days I think, so go get one from them and then take it to the dealer and see if they can do better.
A carmax quote is good for 7 days.

Ordered a new car and am waiting on it to come in so we're deciding what to do with the current car. Went to carmax for the appraisal just to see what it's worth - it was exactly on the blue book/edmunds "trade-in" value for our make/model/condition, etc. When it comes time to buy the new one, I figure if the dealer won't give me more than what carmax will, I'll keep it, try to sell it on my own for a little while to get more, then go back to carmax if a private sale never pans out.
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Old 06-20-2012, 08:54 AM
 
Location: Avery Ranch, Austin, TX
5,104 posts, read 5,811,931 times
Reputation: 1896
Quote:
Originally Posted by robino2001 View Post
A carmax quote is good for 7 days.

Ordered a new car and am waiting on it to come in so we're deciding what to do with the current car. Went to carmax for the appraisal just to see what it's worth - it was exactly on the blue book/edmunds "trade-in" value for our make/model/condition, etc. When it comes time to buy the new one, I figure if the dealer won't give me more than what carmax will, I'll keep it, try to sell it on my own for a little while to get more, then go back to carmax if a private sale never pans out.
Don't forget the state sales tax amount on the trade is deducted from the total sales tax on the new vehicle. That is, you don't pay the 6.25% on the trade value. If you are trading a vehicle worth $20K, for example, you would need to sell outright for an extra $1250 to 'break even'.
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Old 06-20-2012, 09:37 AM
 
Location: Round Rock, TX
426 posts, read 826,898 times
Reputation: 99
Quote:
Originally Posted by 10scoachrick View Post
Don't forget the state sales tax amount on the trade is deducted from the total sales tax on the new vehicle. That is, you don't pay the 6.25% on the trade value. If you are trading a vehicle worth $20K, for example, you would need to sell outright for an extra $1250 to 'break even'.
Right... understood... I'm going more along the lines of a $8k trade-in price vs selling privately for $9-9.5k to make it worth the hassle.
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Old 07-21-2014, 12:11 PM
 
1 posts, read 2,160 times
Reputation: 10
Carmax gave me only $7000 for my 2007 F150, 115200 miles on it, very good condition according to them after they inspected it. Same exact truck on their lot with 117000+ miles and same good condition, they were asking $15990 for it. I feel I got low balled. Should have gotten at lease 2 more offers from other dealers, or did a private sale.
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