selling a car to carmax/enterprise vs selling on your own (buy, sell)
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Is Carmax really interested in cars in excess of 100,000 miles? The ones I have seen on their lot are pretty late model with low miles.
Carmax will buy anything, even if it's wreaked or not running. If the mileage is too high or the condition doesn't meet their standards, they will sell it at auction. Carmax auctions off hundreds of cars every Monday, sometimes two auctions a week if necessary, they have such a high volume. They are the third largest auction house in the US.
It's not usual for a single Carmax dealer to sell over 60 cars in a weekend, most of which have a trade in, not to mention the huge volume they purchase outright. They keep the cream of the crop, the rest go to auction.
I doubt that Carmax would even consider your car. They only take cars that they can resell. A friend of mine sold a couple of cars to them and got a fair price. I've bought 2 cars from them and feel I got a good deal.
Carmax will take high mileage cars and give you rock bottom price and then send it to auction they won't
sell a car with over 100K miles on their lot.
Actually in some states like New York state Dealers LOVE LOVE LOVE cars with just over 100K miles. In NY State over 100K miles vehicles even if sold from a dealer are exempt from lemon laws and warranties. A car right over 100K that is a reliable model is an easy sell and dealer does not have to worry about repairs
Have never actually traded a car in, nor sold it to Carmax or any other dealer. always sold to individuals, and of late, that's how i've bought my cars too.
I don't know in the grand scheme of things if I've come out better. Money has been hard to come by forever, and I just try to make good deals and find good deals and not get upcharged. I do not like being sold to, nor do I like the buying "process" and the fees associated with it.
If it were all up to my family, the US economy would be in the gutter. We don't go out much, don't spend much, and generally never ever pay retail fpr anything.
We've sold several vehicles on our own. You will definitely get more for it that way, but you have to be willing to wait for the right buyer to come along. If you want a quick turn, you'll be sacrificing money for time. It doesn't hurt to go get a Carmax appraisal (good for 30 days) and then try to get better on your own. Just list it a little below KBB or NADA private party and you should know pretty quickly if there's any interest. If you don't get any hits, take it to Carmax and walk away with a check.
Two rules
Meet the buyer at AAA. Bring your maintenance receipts, smog check, ownership paperwork etc or copies. They can check the car out. Go inside get the vehicle out of your name. This is the ONLY way I sell a car anymore. I have turned down buyers who did not want to transfer title.
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