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I'm thinking of selling my car before we move to Florida. I have a general idea of it's value (various web resources) and I was going to list it on Craig's List. My husband thinks we should just take it to Carmax.
I'm thinking of selling my car before we move to Florida. I have a general idea of it's value (various web resources) and I was going to list it on Craig's List. My husband thinks we should just take it to Carmax.
What advice can you 'experts' offer?
There's several older threads about this, but different people have had different experiences. Some got within the ballpark of what they had hoped, others get low-ball offers, it just all depends on a lot of variables. I know others like to argue the definition of "low-ball", but I'll say right here and right now that they definitely low-balled me on the car. That being said, I plan to take it to the Honda dealership just to see if they are any better or worse, but if all you're hoping for is to get anything you can out of the car, Carmax is a pretty easy place to sell to. If you have an idea of what you want out of the car and not willing to settle for a lot less, probably wasting your time.
Thanks for the link Me007gold! I looked quickly for something, but didn't do an actual search.
And thanks skinsguy37 for your perspective. I think what I'm looking for is on the low side anyway, so Carmax *could* be an option. I told my husband that it didn't matter to list it on Craigs List for a couple of days to see if anyone was interested, and if not, we can always take it to Carmax later. But I appreciate the input!
A lot of your success will have to do with what kind of car you are attempting to sell to Carmax. Year, make, color, condition, and most importantly, miles will have a huge impact on what they are going to offer you.
If you are looking for an easy transaction, then go to Carmax.
If you are looking to get close to fair market value for your car, avoid Carmax.
Thanks for the link Me007gold! I looked quickly for something, but didn't do an actual search.
And thanks skinsguy37 for your perspective. I think what I'm looking for is on the low side anyway, so Carmax *could* be an option. I told my husband that it didn't matter to list it on Craigs List for a couple of days to see if anyone was interested, and if not, we can always take it to Carmax later. But I appreciate the input!
No problem, and you're welcome! Just to give you an example, the car I had appraised was a 2011 Honda Accord V6 EX-L coupe. Looks brand new inside and out, and runs like a champ, relatively low mileage. I know many here love to jump on the very mention of KBB value, but for the sake of perspective, what they offered me was about $6k less than the KBB value of the car. Definitely much, much, less than what people are selling that car in that particular trim for privately. Now, that isn't to say that taking it to the Honda dealership or any other dealership is going to be any better, in fact they might offer much less, who knows? Put it to you this way, if you see that the book value on your car is $10,000, you've priced it at $8,000 on Craig's list in hopes to just move it fast, Carmax might offer you $4,-$5,000 for it. So, be prepared for that. With all that said, I would definitely take it over there just to see what they do offer you. Who knows, they might offer you exactly what you're expecting out of it and all I said was completely wrong, lol! I would be curious to know how it turns out if you could report back to us.
Before you take it over there, clean it up nicely inside and out.
I've sold two cars to Carmax, and received estimates for a few others. What I've found is that they'll end up paying more for an old junker that they send to auction than a newer car that they will recondition to sell on the front lot. Sold my wife's old Pontiac that got her through high school and college, it was ROUGH. I figured I could sell it for $1000-1200 private party, Carmax paid me $1750. Also sold an early 80s 2wd Toyota truck, this thing was literally towed out of a field. I bought it for $300, Carmax paid me $750.
On the other hand, they've really lowballed me for newer or nicer cars. Had a WRX, got a Carmax bid before selling it. They offered $7,000, I sold it the next day private party for $10,000. Offered $11k for our Mazda 3, traded it in for $13k at the Mazda dealer. Offered $500 for an older Miata that was in great shape with just over 100k miles, I immediately sold it to someone in their own parking lot for $2800.
Can't hurt to get an estimate, but don't get your hopes up.
A lot of your success will have to do with what kind of car you are attempting to sell to Carmax. Year, make, color, condition, and most importantly, miles will have a huge impact on what they are going to offer you.
If you are looking for an easy transaction, then go to Carmax.
If you are looking to get close to fair market value for your car, avoid Carmax.
What kind of car do you have?
It's not a prize by any standards! LOL
And after reading that other thread, Carmax would probably only buy it for auction.
It's a 2002 Saturn SC-2 (three door) and it's got just under 100k (I know it was in the 90's but I don't remember exactly). I bought it in 2002 when it had 4 miles on it. I loved that car! Condition...meh. It needs some help but only two things are "bad": first is the sun roof motor burned out years ago; second, hubby dropped an air tank on the spoiler and it is damaged/broken. The headliner needs replaced and one of the door lock mechanisms need replaced. It needs new tires and probably a really good tune up.
I will clean it before I do anything, obviously. Based on some minimal research, I was hoping to get about $1k for it. If I can get more, that would be awesome, but I just don't know.
And after reading that other thread, Carmax would probably only buy it for auction.
It's a 2002 Saturn SC-2 (three door) and it's got just under 100k (I know it was in the 90's but I don't remember exactly). I bought it in 2002 when it had 4 miles on it. I loved that car! Condition...meh. It needs some help but only two things are "bad": first is the sun roof motor burned out years ago; second, hubby dropped an air tank on the spoiler and it is damaged/broken. The headliner needs replaced and one of the door lock mechanisms need replaced. It needs new tires and probably a really good tune up.
I will clean it before I do anything, obviously. Based on some minimal research, I was hoping to get about $1k for it. If I can get more, that would be awesome, but I just don't know.
I need to see where the Carmax is in this area...
In that case, as what Brian said, you might actually get a pleasant surprise then!
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