CarMax and others like it

Status
Not open for further replies.
So far I have only used them for a quote …
… and sold the vehicle (for that amount) to my BiL since we both knew it was well maintained …
 
unless you have a "collector" or specialty ride older high milers are worth little as repairs today are very costly + very used anything is a crap shoot for sure
 
Originally Posted by 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.




I've done this twice and just hated it. But you're right. If places are telling me $500-1000 it might be worth the annoyance to deal with it. Truth. Or just keep it and drive it to keep miles off my newer car because I put about 20-30k/year on. The issue with old cars in reasonable shape is they're worth more in value than their value is worth...
 
I've also thought about seeing what they'd give on my 2.5 year old car, selling that, and driving the old one. I just really don't want 3 cars for two people.
 
Can't decide to sell the 14 year old car or the 2.5 year old car and you average 25k a year. That's so broad you'll never decide.

Try this: Take the newer car off the road, drive the Subie til it dies then junk it, get other car out and drive on, no dealing with weirdos or dealers. Has to be the most cost effective.

You're welcome.
thumbsup2.gif
 
Originally Posted by 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.


Yes. Because a family member is buying a new 2020 car and offering their 2018 for a deal nobody would pass up, even if they didn't have a driver's license. Also, I may have found someone through a friend of a friend interested. So hopefully that works out.
 
I don't know whether you live in an area subject to real winter weather, but if you do, somebody would surely pay $2500.00 for a Forester to use as a winter DD/beater, particularly since the head gaskets have been done.
Heck, if the car presents decently and doesn't look trashed, it should be worth that to a wide range of buyers even outside of the land of snow and ice.
Personally, I'd put the word out to all of my friends, acquaintances, co-workers, family and neighbors that you have this car for sale. This would enable you to avoid all of the traffic from people trying to steal the car to flip it you'd get from CL or any online used car site.
No dealer will buy this car from you for a decent buck, since they need to be able to make at least a grand on resale and nobody knows the local market better than someone who buys and sells used cars.
 
Originally Posted by fdcg27
I don't know whether you live in an area subject to real winter weather, but if you do, somebody would surely pay $2500.00 for a Forester to use as a winter DD/beater, particularly since the head gaskets have been done.
Heck, if the car presents decently and doesn't look trashed, it should be worth that to a wide range of buyers even outside of the land of snow and ice.
Personally, I'd put the word out to all of my friends, acquaintances, co-workers, family and neighbors that you have this car for sale. This would enable you to avoid all of the traffic from people trying to steal the car to flip it you'd get from CL or any online used car site.
No dealer will buy this car from you for a decent buck, since they need to be able to make at least a grand on resale and nobody knows the local market better than someone who buys and sells used cars.


Yeah, we've done this but few are biting. I asked originally because we'll give a great deal to a family/friend buyer, so if we were able to get that amount from a business and can't find someone we know, I'd be thinking I might have a chance. But what I've learned is, basically, you get the same price you'd get from trade in value.

If the couple people possibly interested we know don't buy I'll take it around some weekend just to see what kind of offers it gets. With low optimism we'll get a decent offer...
 
[/quote]

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



Usually around wholesale. I had a somewhat exotic car years ago that was 12 years old and CarMAx offerred me 6,600, around wholesale. Knowing that it was a somewhat difficult car to find, and only 52,000 miles on it I decided to try a consignment place that did all the advertising, test drives, sales documents etc. I ended up selling that car for 13,900 less the 800 or so in fees to the consignment place. If Carmax cannot place the car on their lot (too old or too may miles) and they know they will just action it off they offer less money
 
Originally Posted by Spector




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



Usually around wholesale. I had a somewhat exotic car years ago that was 12 years old and CarMAx offerred me 6,600, around wholesale. Knowing that it was a somewhat difficult car to find, and only 52,000 miles on it I decided to try a consignment place that did all the advertising, test drives, sales documents etc. I ended up selling that car for 13,900 less the 800 or so in fees to the consignment place. If Carmax cannot place the car on their lot (too old or too may miles) and they know they will just action it off they offer less money [/quote]

Good info! Thanks! If a friend/family sale fails in the next couple months, I'll give some lots a try and see how bad it is LOL At least now I can go into it knowing to have low expectations. I might look for a consignment type place, too. See what they offer/do.

Thanks!
 
Why don't you put the car in the "Items For Sale" forum here?
Might be a guy here who'd want the car for a decent dollar and you'd then be rid of it.
 
I believe they have raised the allowable mileage but back in 2007 when I sold at Carmax the cutoff for cars we would retail was 10 years or 120,000 miles. Even then it was very dependent on the condition. Dealers want new enough cars to finance, sell warranties on, etc. because those are the big money makers in a car sale. If you do want to hold out for a private party I suggest waiting until tax season. Lots of buyers that time of year looking to pay cash for sub-$5k cars.
 
I tried to sell my recently deceased mother's two year old BMW 4 Series to CarMax. After two days of game playing and phone calls they offered me less than twenty five percent of trade in value for it.
 
Carmax offered trade in value for my brother's truck, 4 years old 24k miles, scratched up bed and a few minor scrapes. About what I expected. We drove the truck in for an evaluation and Carmax gave an offer good for a period of time.
 
I went to Carmax once just out of curiosity to see what they would offer me. They offered me a ridiculous lowball. Granted my car was 17 years old with 136k miles, but it was a popular and reliable model in very good condition. Anyway, I asked if they could do any better and they said no. I was fully planning to sell it private party anyway, and it sold for over twice what Carmax offered, it just took a month longer.
I would consider Carmax when buying another vehicle but it's not worth even 1 hour of my time to ask them for an offer on my old vehicle. They are in business to make money, and they don't do that by paying fair prices for your old car.
 
Originally Posted by fdcg27
Why don't you put the car in the "Items For Sale" forum here?
Might be a guy here who'd want the car for a decent dollar and you'd then be rid of it.


Because I didn't realize this existed LOL That will also be added to my option list. Although I know nothing about selling a car to an out of stater. But with Google and the DMV site I'm sure I could figure out if the hassle is worth it...
 
If Carmax is only making a $1,000 bucks on average for every car, what they are paying the seller is not a lowball offer. It is actually quite fair, and does save the seller quite a bit of aggravation. Quite a few posts here and elsewhere about sellers ranting about the aggravation of the private selling process.
 
Yep, big volume dealers will low ball the new unit, give you a bad trade in, and flip that used vehicle for more than Carmax makes
 
Originally Posted by 4WD
Yep, big volume dealers will low ball the new unit, give you a bad trade in, and flip that used vehicle for more than Carmax makes

Some people get the new car itch and will not hesitate to get a terrible deal on their trade in.

But if the trade in is nice with low miles then definitely dealer will wash and wax it to be put on used car lot.
 
Status
Not open for further replies.
Back
Top