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Old 11-17-2014, 10:11 PM
 
57 posts, read 96,484 times
Reputation: 47

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Hello,
Selling a 2008 camry non-hybrid with 101,000 miles on behalf of a family member and was wondering what the best route is. We are trying to get the best of both worlds (selling it asap and for as much as possible) I know we will be hard pressed to find such a deal but wanted to know what everyone's opinion is on these too methods. The car has been very well taken care off and only needs new tires soon. Almost all miles are highway.
TIA!
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Old 11-17-2014, 10:15 PM
 
Location: Out in the Badlands
10,397 posts, read 8,354,967 times
Reputation: 7681
Carmax tends to give bottom dollar any other than newer desirable vehicles.
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Old 11-17-2014, 10:20 PM
 
1,235 posts, read 1,313,963 times
Reputation: 2273
You will always do better in terms of selling price if you sell on your own. I have done both. Carmax is a business and they will offer you a low value for your car. I sold one car on carmax for ethical reasons. The car had too many problems and I didn't want to sell it to someone. So I took it to carmax, told them the problems and asked what they would offer. The offer was instantaneous. Sold the car the same day for rock bottom price and left.

I sold a Toyota Corolla on my own. It had about the same mileage as your Camry and was well cared for. I priced it fairly and got it sold within 1 week. If I took it to carmax I would have gotten about $900-$1200 less then what it sold for to a private party.
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Old 11-17-2014, 10:28 PM
 
Location: Inland Empire, Calif
2,887 posts, read 4,610,399 times
Reputation: 2766
You will definitely do better selling it yourself, but it will take longer. Carmax will give you a check on the spot after an appraisal, no waiting. Selling it yourself is rolling the dice, it could sell the first day, if you're extremely lucky, or it could take weeks or even longer. Then you have to spend money to advertise the vehicle, deal with showing the car, making yourself available to show it, haggling over the price, etc. You also must be careful of scams, especially if you go through Craigslist, lot's of horror stories there. More trouble to sell it yourself, but more profitable.
I recently purchased a new vehicle. The dealer offered my $5k trade in, Carmax offered me $6k. I opted to sell it myself. It cost me about $75 to advertise in Auto Trader Magazine. Price of ad varies depending on the ad you select, it can be done cheaper, or more expensive, I went middle of the road..
I took me just over two weeks to find a buyer, and I sold it for $7800, so it paid off to sell it myself, but it could have taken much longer, you never know when the right buyer is going to come along. I wasn't in any hurry so time wasn't an issue.
Good luck...
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Old 11-17-2014, 10:59 PM
 
5,076 posts, read 7,978,283 times
Reputation: 4613
If it's in decent shape selling on your own is better. Camrys with a clean title and few issues are easy to sell. You may want to replace the tires to get a quicker sale.
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Old 11-17-2014, 11:07 PM
 
Location: Out there somewhere...
38,697 posts, read 45,086,710 times
Reputation: 106811
CarMax and other similar outfits will give you low bluebook value. They're in the business to make money. Selling it yourself you can do better and pocket a few more dollars.
But if you're in dire straits and need the money now then the CarMax deal would be the quickest way to cash in.
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Old 11-17-2014, 11:16 PM
 
Location: Montgomery County, PA
13,674 posts, read 8,679,766 times
Reputation: 11262
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.
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Old 11-18-2014, 02:53 AM
 
188 posts, read 552,909 times
Reputation: 188
Last time I was at a Carmax (sold two cars there, both with problems, both at a 'decent' low price, about the dealer trade price) they would not take any cars over 100K.
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Old 11-18-2014, 06:00 AM
 
Location: Cypress, TX
862 posts, read 2,426,500 times
Reputation: 716
Quote:
Originally Posted by HappyRider View Post
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.
They'll buy them. I had a 2003 GMC Envoy XL with 106K miles not too long ago. Dealer offered $2500, CarMax offered $3500. I sold to a private party (Craigslist) in a couple of days for $6000. Private party is the way to go, IMO.
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Old 11-18-2014, 06:59 AM
 
Location: MN
2,741 posts, read 2,580,572 times
Reputation: 2105
Sell on your own to start, if it doesn't sell quick enough, bring it to Carmax.
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