CarMax and others like it

[HowAboutThis]

Just curious if anyone on here has experience selling a car to a dealership, used car lot, or a place like CarMax. I know you'll probably make more if you sell to a private party, but if a place like CarMax or a dealer offers something close I'd rather avoid the annoyance, test drives, weird people offering me half what I'm asking, etc. I've sold two cars in my life and hated it both times. A couple times I wondered if I'd ever see it again after their "test drive"...

Anyway, anyone have experience selling the easy way? Do dealerships normally buy used cars or avoid it unless you're trading in? Do they normally make offers in line with Blue Book Value?

Anything else you think I should know?

 

[Wolf359]

The answer is that it depends. What's the year and mileage on the car? If it's a high demand, low mileage car, they'd probably make you a fair offer. Low demand, old, high mileage car, probably not a good offer. Normally what most people will do is get an offer from Carmax and then use that offer to shop it around to a few other dealers. Sometimes local dealers might beat it by a few hundred, if not, you just take the Carmax offer. Or once you know what they're willing to offer, you ask for a little bit more and sell it private party.

 

[AZjeff]

They have no reason to buy a car from you for more than they can buy it from the auction. May or may not be in line with KBB trade-in. I have a friend back in Pa with a huge used car business, 2 locations, hundreds of cars. His only reference for trade-in value is last week's auction reports. You aren't going to get close to KBB private party price.

 

[HowAboutThis]

Originally Posted by AZjeff
They have no reason to buy a car from you for more than they can buy it from the auction. May or may not be in line with KBB trade-in. I have a friend back in Pa with a huge used car business, 2 locations, hundreds of cars. His only reference for trade-in value is last week's auction reports. You aren't going to get close to KBB private party price.


I'm not looking for that, necessarily. It's a 2005 Forester with about 180k. I'd be happy with upper trade in value just to not deal with people calling, being annoying, wasting my time.

We'll see what they offer I guess.

 

[dishdude]

Originally Posted by HowAboutThis


I'm not looking for that, necessarily. It's a 2005 Forester with about 180k. I'd be happy with upper trade in value just to not deal with people calling, being annoying, wasting my time.

We'll see what they offer I guess.


Donate it or sell private party, no dealership is going to want that.

 

[HowAboutThis]

Originally Posted by dishdude
Originally Posted by HowAboutThis


I'm not looking for that, necessarily. It's a 2005 Forester with about 180k. I'd be happy with upper trade in value just to not deal with people calling, being annoying, wasting my time.

We'll see what they offer I guess.


Donate it or sell private party, no dealership is going to want that.


I'll drive it until it dies before I deal with a private party sale again. Just really don't want more cars than people. I've put word out to family and friends. I'll see what I can get from car dealer type places until someone I know wants it. Then they'll get an amazing deal I guess.

 

[macarose]

Carmax makes lowball offers to folks who want to trade their vehicles in. On average they make a little more than $1,000 per vehicle and they average over 350,000 vehicles across the country.

Typically they keep the vehicle for less than a week. It's an enormous money maker for them because they make incredibly low offers to those who don't want to sell their own car.

I wrote this five years ago and it pretty much still holds true.

https://www.thetruthaboutcars.com/2014/03/should-you-sell-your-car-at-carmax/

Sell it to someone in your family or community. Only the lazy and ignorant donate their hard earned money to a flipper.

 

[HowAboutThis]

Originally Posted by macarose
Carmax makes lowball offers to folks who want to trade their vehicles in. On average they make a little more than $1,000 per vehicle and they average over 350,000 vehicles across the country.

Typically they keep the vehicle for less than a week. It's an enormous money maker for them because they make incredibly low offers to those who don't want to sell their own car.

I wrote this five years ago and it pretty much still holds true.

https://www.thetruthaboutcars.com/2014/03/should-you-sell-your-car-at-carmax/

Sell it to someone in your family or community. Only the lazy and ignorant donate their hard earned money to a flipper.



Interesting! Kind of how I figured it worked. I've had a couple friends show minimal interest so might have one of them. But I kind of doubt it. If a friend or family buys they'll get low end of private party value/high end trade in. But I'm currently feeling nobody I know wants a car and the "interest" is just people I know unable to be blunt and say "no need for a car right now, sorry!" Well, once things get going I'll try to remember to update my plan or results. I'll probably end up driving it to work every few days because nobody wants it to keep miles off my newer car. And then randomly stop by used and new car dealers and waste their time trying to get $1500-$2000 for it LOL It'll be my entertainment for a while...

 

[fisher83]

I sold cars for Carmax 10+ years ago and I still purchase from them. I have sold them newer cars of mine as well and gotten what I felt were fair offers. The store here in Omaha is reputable and great to do business with. That being said, with the age and mileage your car I would not sell it to Carmax as it won't meet their standards to retail it meaning you will get a pretty low offer since this is a car they would take to auction.

 

[slacktide_bitog]

Just drive it the junkyard and get $300 or whatever the scrap value is

 

[Spector]

Use them primarily as a price check to compare to what dealer will offer if I trade. I will not purchase from them as I know I can always, always find the same vesicle somewhere else for a negotiated lower amount. They are overpriced and are great for someone in a hurry to buy or does not like shopping around or haggling.

 

[HowAboutThis]

Originally Posted by slacktide_bitog
Just drive it the junkyard and get $300 or whatever the scrap value is


I'll just keep driving it before that LOL. I'm looking for $2kish. Hence wondering if a dealer or Carmax would come close to that on a car with private party value of about $2k-$3.6k range. Sounding like most of you are saying "no." But if I could make $2700 given a mid range private party, and I have stacks of mechanic receipts over the years, it's had the head gasket operation done, lots of recent maintenance, thinking they might give $2k, sell for $3k knowing they'd take $2.5k from someone. I'd be out a few hundred but not have to deal with the hassles.

Seems like the consensus is I won't get a decent offer. So I'll just see what I get but won't be optimistic going into it.

 

[HowAboutThis]

Originally Posted by Spector
Use them primarily as a price check to compare to what dealer will offer if I trade. I will not purchase from them as I know I can always, always find the same vesicle somewhere else for a negotiated lower amount. They are overpriced and are great for someone in a hurry to buy or does not like shopping around or haggling.



Do they normally give you offers near trade in value, private party, or you don't remember?

 

[Skippy722]

Originally Posted by macarose
Carmax makes lowball offers to folks who want to trade their vehicles in. On average they make a little more than $1,000 per vehicle and they average over 350,000 vehicles across the country.



That wasn't my experience. They gave me $15k for my 2011 Dodge Durango Citadel that had 105,000 miles, been in an accident (hit a deer), aftermarket exhaust, a Mopar cold air intake, and a very noticeable (right at eye level) rock chip in the windshield. I thought that was fair.

As for buying a vehicle... gotta know what you're looking for. My 300 was very reasonably priced, but some vehicles were at the absolute highest end of the value and had, IMO, too many miles and not enough options to warrant that price.

 

[Driz]

It's time vs. $$$$ always is always was, your call. Remember one thing though, being an old car those remote clowns are surely gonna lowball ya, just because. Also remember what you're losing when you don't trade it in. Offset against the sales tax. It doesn't men much to some people in some places but to we enslaved comrades in the People's Republic Of Neuyorkistan grab every tax dodge we can find. Just sayin it's a consideration financially.
One other thing you can do is have some car lot sell it for you on consignment. Illl just about guarantee you'll get 🤨exactly the minimum you're willing to let them sell it for you. Not much of a solution is it.
Craig's list isn't that bad really. Put up at least a few pictures and fair description of what's good and bad. Just do it the way the smart ones do it. No phone tag, no text conversations pages long and no buying it for my friend who gets paid week after next and I ain't gots no down👎ðŸ». No I'm taking it for a drive alone crap either! Do it you drive I'll sit and take the deal from the guy who shows up first with cash or a reasonable down , receipts to both parties ALWAYS and stating AS IS CONDITION and you keep the car till paid in full. Also state a time for which the total amount is due in the wording. Just be sure after the things sold you cancel your ad so no more phone calls. If you don't want folks coming by your house and it's on the road legal just agree to meet them at some nearby parking lot. It's not that terrible really. Time vs. money .......pick your poison.

 

[atikovi]

Originally Posted by HowAboutThis
Originally Posted by slacktide_bitog
Just drive it the junkyard and get $300 or whatever the scrap value is


I'll just keep driving it before that LOL. I'm looking for $2kish. Hence wondering if a dealer or Carmax would come close to that on a car with private party value of about $2k-$3.6k range.


Not going to happen. I can get them from the auction for under $1000 including the fees, so wouldn't offer more than $500 to make a quick sale at the auction. No big dealer or Carmax is going to retail something that old with those miles.

 

[atikovi]

Originally Posted by HowAboutThis
A couple times I wondered if I'd ever see it again after their "test drive"...


Who just hands the keys to a perfect stranger and lets them take off alone on a test drive? Use some common sense.

 

[AZjeff]

Is there a reason you'd sell the old car to a dealer outright but not sell it on a trade on a different car? It gets the car off your hands comfortably for you, you get the sales tax savings (if applicable), and they can jack the prices around and you can think you got $2k for trade and be happy! All wins.

Or have you already bought your next car?

You've had 2 guys with direct experience in the biz give you replies.

 

[marine65]

Originally Posted by HowAboutThis
Originally Posted by dishdude
Originally Posted by HowAboutThis


I'm not looking for that, necessarily. It's a 2005 Forester with about 180k. I'd be happy with upper trade in value just to not deal with people calling, being annoying, wasting my time.

We'll see what they offer I guess.


Donate it or sell private party, no dealership is going to want that.


I'll drive it until it dies before I deal with a private party sale again. Just really don't want more cars than people. I've put word out to family and friends. I'll see what I can get from car dealer type places until someone I know wants it. Then they'll get an amazing deal I guess.



I feel your pain.
I once put a beat up old Civic on Craigslist for $500.
I had at least 10 people make an appointment and none showed.
Quite a few wanted to make payments.
I finally gave up and sold it to the junkyard for $300.

 

[JLTD]

Have sold at Carmax...it's painless - go in, sit for 30-60 minutes, they make the offer and cut you a check if you accept. Plan to get a lower offer than what you could sell for.

Depends on if you can accept a couple thou below or not in exchange for the ease of sale.