Experience selling car to Carmax?

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dm200
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Experience selling car to Carmax?

Post by dm200 » Sat Nov 12, 2016 2:00 pm

I have a free and clear 2005 Mazda 3 that I may want to sell. Any knowledge or experience selling such older cars to CarMax?

steve r
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Re: Experience selling car to Carmax?

Post by steve r » Sat Nov 12, 2016 2:13 pm

You will get about a dealer trade in value on KBB. You will have a week (maybe five days) to decide. If the car had been in an accident, it would (should) hurt the cars value.

My second time I had my car ready to sell ... got it priced at CarMax, then listed it quickly for $1,200 more on AutoTrader. That was a GREAT deal for the buyer when compared to the used car market value, but also good for me. I did not play around when people called. "Has it been in an accident?" ... "Yes." I only wanted serious buyers ... the first one that came knocked a bit off the price ... I accepted. Done.

Again, they will give you about dealer trade on KBB if you want a ballpark price.
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dm200
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Re: Experience selling car to Carmax?

Post by dm200 » Sat Nov 12, 2016 2:56 pm

steve r wrote:You will get about a dealer trade in value on KBB. You will have a week (maybe five days) to decide. If the car had been in an accident, it would (should) hurt the cars value.
My second time I had my car ready to sell ... got it priced at CarMax, then listed it quickly for $1,200 more on AutoTrader. That was a GREAT deal for the buyer when compared to the used car market value, but also good for me. I did not play around when people called. "Has it been in an accident?" ... "Yes." I only wanted serious buyers ... the first one that came knocked a bit off the price ... I accepted. Done.
Again, they will give you about dealer trade on KBB if you want a ballpark price.


Thanks. I prefer to not sell it directly to a consumer, for various reasons. It was in an accident (front end) many years ago. I called the CarMax place closest to me and they said their offering price is good for a week. There is also an intermittent "issue" with the engine light coming on, that my repair shop fixes and it tends to return in a few months. It also burns oil.

I own the car free and clear - so I can take the title and get the money.

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Re: Experience selling car to Carmax?

Post by jimb_fromATL » Sat Nov 12, 2016 3:32 pm

Have you sold any cars in the last few years? IMO you certainly do need to get a offer from CarMax before you decide whether it's worth the time, hassle, and risk to try to squeeze a few more dollars out of it by selling it yourself.

Cars are a hobby with me, and I've bought and sold several over the last several decades; and have helped others in buying and selling theirs. It depends on your local market and the car’s value and condition and how much time you have to spare, considering the kinds of crooks, crazy people, bad drivers, and scammers I've seen come around on the last cars I've sold myself, I doubt it's worth the hassle and risk to most people these days to try to sell a car to the public yourself.

My post in THIS THREAD has more discussion, and a link to even more discussion of the pros and cons and problems of selling a car yourself.

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Re: Experience selling car to Carmax?

Post by sambb » Sat Nov 12, 2016 3:40 pm

Have sold to Carmax. Good experience. Saves time. I like the process.

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Re: Experience selling car to Carmax?

Post by Inframan4712 » Sat Nov 12, 2016 3:52 pm

sambb wrote:Have sold to Carmax. Good experience. Saves time. I like the process.


+1

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Re: Experience selling car to Carmax?

Post by JPH » Sat Nov 12, 2016 3:58 pm

I recently sold a 2004 Ford Focus to Carmax. The car was worth about $2000, but needed over $1000 in repairs to the nonfunctional air conditioner. They gave me $1000, and I was happy with that. They quoted me both their appraiser's price and the KBB price and offered me whichever was higher, which turned out to be KBB. Previously, I sold them a small pickup truck that was a total piece of junk. The transmission was slipping badly. They gave me a very fair price. In neither case would I have felt comfortable selling it to an individual and doubt anyone would want it if I disclosed the problems. It was a simple process both times and took about an hour. They did all the paperwork for no added charge.
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Re: Experience selling car to Carmax?

Post by Ricola » Sat Nov 12, 2016 4:08 pm

+1 Excellent experience, no shenanigans, fast, fair, and courteous. As good as the selling experience was, I would now consider buying from them.

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Re: Experience selling car to Carmax?

Post by ausgenf » Sat Nov 12, 2016 4:11 pm

I sold to Carmax last year, in and out with a check in less than two hours. I felt that the offer they made was very correct, a bit more than I expected to get from a dealer. I did not want to deal with private buyers.

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Re: Experience selling car to Carmax?

Post by randomguy » Sat Nov 12, 2016 4:13 pm

steve r wrote:You will get about a dealer trade in value on KBB. You will have a week (maybe five days) to decide. If the car had been in an accident, it would (should) hurt the cars value.

My second time I had my car ready to sell ... got it priced at CarMax, then listed it quickly for $1,200 more on AutoTrader. That was a GREAT deal for the buyer when compared to the used car market value, but also good for me. I did not play around when people called. "Has it been in an accident?" ... "Yes." I only wanted serious buyers ... the first one that came knocked a bit off the price ... I accepted. Done.

Again, they will give you about dealer trade on KBB if you want a ballpark price.


My experience was that we got about 10%-15% more from CarMax versus dealer trade in (within the KBB range depending on your quality assumptions and the like). YMMV. It was very straight forward and easy. At a minimum you should get a quote before disposing of the car in a different way. You will pretty much always get more money by selling the car your self. Up to you if it is worth the work or not.

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Re: Experience selling car to Carmax?

Post by CppCoder » Sat Nov 12, 2016 4:27 pm

I've sold them two cars. They are easy to deal with, professional, and straightforward. After the appraisal, you give them your keys, and they give you a check. In both cases, I was buying a new car. When I told the new car dealer the Carmax quote, they told me that it would be higher than their trade in value, so I should just sell to Carmax instead.

If you happen to live in Texas, you might try Texas Direct Auto. They are as easy to deal with as Carmax, and, in my experience, will beat Carmax's offer. Literally, I think if you bring the Carmax offer to them, they will guarantee to meet or beat it. I sold a car to Texas Direct Auto last year. They beat Carmax by $1,000, and I didn't tell TDA what Carmax's quote was until after TDA did their appraisal.

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Re: Experience selling car to Carmax?

Post by PaunchyPirate » Sat Nov 12, 2016 5:07 pm

I've sold 2 cars to CarMax and am very happy with the process. I've also had them value 2 other cars and in those cases I did not choose to sell to them because the new car dealership agreed to give me that same price or more (I make them value it before I share the info about CarMax). With the information now available on the internet, I would always research typical prices before going in to CarMax. If they are in the same ballpark, they get the car because the process is so simple.

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Re: Experience selling car to Carmax?

Post by likegarden » Sat Nov 12, 2016 5:14 pm

Thank you very much for asking that question, and thanks for all the replies. I think I will go to Carmax too when I sell my 2004 Buick Century. My car is in better than good shape, has only 103,000 miles, and a Toyota dealer only wanted to give me $300-800 as a KBB trade-in price he said, though the KBB trade in price was around $1,800 when I used 103000 miles, their shenanigans.

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Re: Experience selling car to Carmax?

Post by dm200 » Sat Nov 12, 2016 5:52 pm

OK - thank you all!! What surprises me a bit is that Carmax seems to want even older cars and those not in top condition. They must, somehow, have the whole "system" figured out and sufficient volume to get economies of scale. I also assume they have the "process" to fix the cars that need work in a cost-effective way.

It is about 30-60 minutes one way to the nearest Carmax, and I wanted to have some reasonable expectation that the round trip would not be a total waste of my time. Looks like it will be OK.

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Re: Experience selling car to Carmax?

Post by Cash » Sat Nov 12, 2016 5:54 pm

I sold my 2001 Lexus to them last year. I probably got a bit less than I would have in a private sale, but the process couldn't have been easier.

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Re: Experience selling car to Carmax?

Post by whodidntante » Sat Nov 12, 2016 6:15 pm

dm200 wrote:OK - thank you all!! What surprises me a bit is that Carmax seems to want even older cars and those not in top condition. They must, somehow, have the whole "system" figured out and sufficient volume to get economies of scale. I also assume they have the "process" to fix the cars that need work in a cost-effective way.

It is about 30-60 minutes one way to the nearest Carmax, and I wanted to have some reasonable expectation that the round trip would not be a total waste of my time. Looks like it will be OK.


They probably bring it to the nearest auction and unload it for a modest profit. Nothing magical really.

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Re: Experience selling car to Carmax?

Post by ClevrChico » Sat Nov 12, 2016 6:47 pm

I think it's great if you don't want to deal with private parties who are a huge hassle. The quotes are fair for what they do.

That said, we received about 30% more on a dealer trade in vs. Carmax on a 12 year old car with low miles. I think numbers would be closer on a newer car that CarMax would resell, vs auction.

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Re: Experience selling car to Carmax?

Post by reriodan » Sat Nov 12, 2016 7:15 pm

I sold a car to carmax and was very happy with the experience. So simple and seemed fair to me. Probably not optimal, but based on the ease of the process I would definitely consider doing it again in the future if it ever came to it.

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Re: Experience selling car to Carmax?

Post by miles monroe » Sat Nov 12, 2016 8:16 pm

super easy, no hassles, no pressure, get the offer and ya got 5 days to accept. i've taken 3 cars there, sold 2 of em (i'm positive they went to the auction house due to their age), and hung on to the other one. just don't expect to get top dollar because you won't.

even if i was going to sell a car myself, i'd still go there first and get their offer as information.

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Re: Experience selling car to Carmax?

Post by informal guide » Sat Nov 12, 2016 8:31 pm

The one thing to consider when selling a car (whether toCarmax or anyone else) versus trading on a newer car is the sales tax. In our state (PA) one pays sales tax one the net of the car purchased vs. the trade. So unless you get more then 6-7% above your trade value, trading is the easy way and financially more advantageous.

Having said that, I have had good experiences selling several cars over Craigslist - -but I recognize the hassle and fraud possibility factor.

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Re: Experience selling car to Carmax?

Post by countofmc » Sat Nov 12, 2016 8:44 pm

I sold two cars to them about 10 years or so ago. Really enjoyed the experience. The first one I sold was too old dealers were not even willing to take it as a trade-in, and Carmax actually gave me slightly more than any offer I was getting on Craigslist, so that was a pleasant surprise. Very easy process as they took care of the paperwork and all that.

The second one I sold the was quite newer, but I still got $1000 more than any dealer was offering me trade-in.

They are expanding like crazy all of a sudden here in the Bay Area, which to me is a welcome development as I'd probably rather sell a car to them than deal with trading in to a dealer.

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Re: Experience selling car to Carmax?

Post by SixAlpha » Sat Nov 12, 2016 8:45 pm

whodidntante wrote:
They probably bring it to the nearest auction and unload it for a modest profit. Nothing magical really.

CarMax owns their own auctions and will just truck it to one of their own locations to sell it.

In my case I had a 1995 Civic with significant damage. CarMax offered me a couple hundred bucks for it on trade against a 2012 Mazda we ended up buying from them. I ended up selling it on Craigslist to a local kid for $1,200 cash who wanted to "fix it up"

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Re: Experience selling car to Carmax?

Post by fpr4 » Sat Nov 12, 2016 9:17 pm

JPH wrote:I recently sold a 2004 Ford Focus to Carmax. The car was worth about $2000, but needed over $1000 in repairs to the nonfunctional air conditioner. They gave me $1000, and I was happy with that. They quoted me both their appraiser's price and the KBB price and offered me whichever was higher, which turned out to be KBB. Previously, I sold them a small pickup truck that was a total piece of junk. The transmission was slipping badly. They gave me a very fair price. In neither case would I have felt comfortable selling it to an individual and doubt anyone would want it if I disclosed the problems. It was a simple process both times and took about an hour. They did all the paperwork for no added charge.


They are probably junking/parting-out these cars for much more than than $1k they are giving you. If you are desperate/impatient, I might go the Carmax route, but look at all their insane overhead. They are definitely taking you all to the cleaners.

If I never had to deal with a car dealership again, I'd be a lark. Never had a bad experience with private sale/purchase and never had a good experience with a dealership. Of course I know a little bit about the law and am not a complete pushover, so dealing on my own is fine. Every private purchase or sale I've done I have run it thru my credit union to facilitate the transfer of title (using an officer as notary) so that tends to root out anyone that would attempt a scam.

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Re: Experience selling car to Carmax?

Post by soboggled » Sat Nov 12, 2016 9:20 pm

For those of you who think they know what they got for a trade-in: I wouldn't bet on it.

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Re: Experience selling car to Carmax?

Post by dm200 » Sat Nov 12, 2016 10:15 pm

soboggled wrote:For those of you who think they know what they got for a trade-in: I wouldn't bet on it.


A real "shell game"!

I think that the only way you have an idea of what they think your "trade in" is worth is (at the end of the new car negotiation) get two prices: one with the trade in and one without.

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Re: Experience selling car to Carmax?

Post by OnFire » Sun Nov 13, 2016 1:41 am

I'm one of the few that had a busy experience with CarMax. I brought my 4 year old BMW there to get a price,and when they came and talked to me about it, they said the car had been in a serious accident (I was the second owner) and they could tell because the paint was thicker (apparently two coats- the second after the repair). I found it hard to believe, and brought the car to a good friend of men who has owned a car repair shop that specializes in collision repair for 30+ years. He told me that the paint was not two coats thick, and pointed out that there was no mask/blend lines at the seam where the repair/ repaint should have taken place (near the C-pillar - not a part you could easily replace). They had offered something like 30% less than BlueBook. I wound up listing and selling it on Craigslist for about what the BlueBook price was. I'm not really interested in trying again. I
ll do Craigslist/ sell them myself in the future.
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Re: Experience selling car to Carmax?

Post by jlawrence01 » Sun Nov 13, 2016 1:57 am

I have sold a couple of cars to Carmax over the years. The process is pretty easy and you get paid very quickly. DO REALIZE that you will get paid a WHOLESALE price that is significantly lower than the retail price. If you want to get retail, you will have to sell it yourself which has some advantages and disadvantages.

If you have a desirable, late model vehicle in better condition, do realize that a lot of other dealers will give you a cash offer that often is better than what you will get from Carmax. You are not required to purchase a car from that dealer. It too will be a wholesale price.

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Re: Experience selling car to Carmax?

Post by catdude » Sun Nov 13, 2016 2:26 am

I've never sold a car to CarMax but I had an experience with them many years ago that worked out well for me. I was making the big move from a Corolla to a Camry... CarMax offered me significantly more for the Corolla than what I was expecting. I'm not sure what happened -- perhaps the CarMax dude thought my car had an automatic transmission, when in fact it had a manual transmission. In any event, I went to the Toyota dealership, negotiated a price on the new Camry, and handed them the CarMax offer for the Corolla. I said if you guys can match CarMax's offer for my trade-in, we've got a deal. They matched it...
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Re: Experience selling car to Carmax?

Post by wdr1 » Sun Nov 13, 2016 2:47 am

I sold my car recently (Jeep Wrangler). The nice thing about CarMax is their quote is good for a week. I went in & got me, then used the week to see if I could sell it for a higher price on CraigsList. I ended up getting a few grand more.

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Re: Experience selling car to Carmax?

Post by carolinaman » Sun Nov 13, 2016 7:21 am

Every time I buy a car, I get a quote from Carmax on the car it will replace. I try to get a trade in at a better price where I am buying another car. Worst case, I show them the Carmax quote and they have always accepted that.

Carmax quotes a low wholesale price. You can usually do better if you sell the car yourself. I have done that several times but no longer do it because of the security issues involved. KBB lists 3 prices: wholesale, private sale and retail. Private sale is what you should try to get yourself.

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Re: Experience selling car to Carmax?

Post by dm200 » Sun Nov 13, 2016 10:17 am

This was before "Craigslist", but I have successfully sold several cars privately. I am sure in each case I received more than selling to a dealer or getting a trade-in. There are, indeed, though, safety and security issues - as well as being a pain. In my cases, less than half of the folks who claimed they were "on the way" showed up. In my case now, because of some (actual or potential) "issues" with my 2005 Mazda 3, I do not want to sell to an individual.

I plan to buy a replacement from Craigslist. The number of vehicles listed is astounding and almost mind boggling!

About a year ago, after listing a second time, I successfully sold a 2002 Chrysler/Plymouth minivan with a bad engine (would not run) on Craigslist. I got a few hundred dollars (cash)- and the buyer towed it away.

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Re: Experience selling car to Carmax?

Post by mrc » Sun Nov 13, 2016 10:26 am

When my mom stopped diving, I sold the car through for her thought Carmax. It was a very low mileage, but older (2002) Saturn. Offer was higher for the low mileage, but lower for age. Took just several hours to do, which included dragging mom to the cashier window to sign the title over. Carmax requires POA on their form, and wouldn't accept the law office durable POA, or the state DMV form. I would use them again in a heartbeat. Could I have gotten a little more with a private sale? Yes. Could I have been done in 4 hours? I doubt it. The difference wasn't worth it to us.
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Re: Experience selling car to Carmax?

Post by Iorek » Sun Nov 13, 2016 11:39 am

You might want to check out Vroom-- they are like carmax but internet based. We sold a car through them recently and it was both really easy and they gave us a better price than carmax.

We just took some photos of the car and answered some questions on their website/app and we had a quote very quickly (could have been same day but certainly within one day), then we signed the contract via email, mailed the title to them while they wired the money to my checking account and sent a truck to pick up the car.

Anyway worth checking out as a possible alternative

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Re: Experience selling car to Carmax?

Post by convert949 » Thu Dec 22, 2016 7:32 pm

dm200 wrote:OK - thank you all!! What surprises me a bit is that Carmax seems to want even older cars and those not in top condition. They must, somehow, have the whole "system" figured out and sufficient volume to get economies of scale. I also assume they have the "process" to fix the cars that need work in a cost-effective way.

It is about 30-60 minutes one way to the nearest Carmax, and I wanted to have some reasonable expectation that the round trip would not be a total waste of my time. Looks like it will be OK.

I have sold 3 cars to Carmax over the years and always was satisfied with their offers. They were slightly above or below the KBB Trade In price. That was until today... I did my research on KBB before driving the 1.5 hrs to the closest dealer only to find that the KBB number they are using today (in certain dealerships, soon to be rolled out nationwide) is the "wholesale" number which is about 10-15% less than the "trade in" number you have access to on the KBB web site.

It seems that they are in the process of changing their business model to their benefit, not yours...

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Re: Experience selling car to Carmax?

Post by TimeRunner » Thu Dec 22, 2016 9:00 pm

We sold a 2000 Honda CRV last month with 140K+ miles to Carmax in good condition except for some rust on one of the window pillars. We got about $200 more than we would have bottom-priced it for if we had sold it on Craigslist, and the whole deal was done within 90 minutes. Wife was relieved to not be dealing with random craigslist callers, shysters, and strangers coming by to look and test drive. It was a good experience, and since we keep cars a long time, we shouldn't have to do it again for awhile.
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Re: Experience selling car to Carmax?

Post by jlawrence01 » Tue Jan 03, 2017 12:03 am

Iorek wrote:You might want to check out Vroom-- they are like carmax but internet based. We sold a car through them recently and it was both really easy and they gave us a better price than carmax.

We just took some photos of the car and answered some questions on their website/app and we had a quote very quickly (could have been same day but certainly within one day), then we signed the contract via email, mailed the title to them while they wired the money to my checking account and sent a truck to pick up the car.

Anyway worth checking out as a possible alternative



You are selling the car TO Carmax. All you need to do is drive the car into the location and that is it.

Vroom requires you do the marketing and you don't get the money the same day.

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Re: Experience selling car to Carmax?

Post by Beth* » Tue Jan 03, 2017 11:25 pm

I sold a 15 year old car to Carmax last year. It needed some significant work and we decided it wasn't worthwhile sinking more money into the car. Carmax paid me more than I expected to get and the entire experience was painless. I would definitely sell to them again in the future. I advise making an appointment in advance if you are bringing a car in for appraisal so you don't have to wait.

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Re: Experience selling car to Carmax?

Post by ClevrChico » Tue Jan 03, 2017 11:33 pm

I had a car appraised of similar age at Car Max. It's old enough they will likely send it to auction, so you'll get a low wholesale price. If it's in good shape, you'll probably do better trading it in if you're buying a new car.

I hate the idea of selling a car on Craigslist, so I understand the appeal.

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Re: Experience selling car to Carmax?

Post by llama » Wed Jan 04, 2017 12:16 am

I sold them an inherited 2016 car with less than 800 miles on it. It had been in a bad accident and I knew I was going to take a hit on the price. Was expecting them to offer 10k but they only offered 9k. I took the offer since the car was on the other coast and I didn't need it. My goal was to unload the vehicle fast and that's exactly what I got.

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Re: Experience selling car to Carmax?

Post by Iorek » Thu Jan 05, 2017 11:19 pm

jlawrence01 wrote:
Iorek wrote:You might want to check out Vroom-- they are like carmax but internet based. We sold a car through them recently and it was both really easy and they gave us a better price than carmax.

We just took some photos of the car and answered some questions on their website/app and we had a quote very quickly (could have been same day but certainly within one day), then we signed the contract via email, mailed the title to them while they wired the money to my checking account and sent a truck to pick up the car.

Anyway worth checking out as a possible alternative



You are selling the car TO Carmax. All you need to do is drive the car into the location and that is it.

Vroom requires you do the marketing and you don't get the money the same day.


No-- I sold the car to Vroom-- didn't have to do any marketing, cash was wired into my account very quickly.

I didn't even need to drive the car anywhere and they didn't lowball me like Carmax did (not to say I couldn't probably have done better with a private sale, but Carmax's offer left me feeling like I was being taken screwed over while Vroom's felt like I was taking a lower amount not to have to deal with a private sale). YMMV

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Re: Experience selling car to Carmax?

Post by JeffAL » Thu Jan 05, 2017 11:45 pm

Sold my Civic to carmax. They beat dealer trade in offers by $500 to $1000.

I had the car appraised on a Thursday then went back Saturday to actually sell it. That Saturday was the most people (customers) I had ever seen at one time in a car dealership.

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Re: Experience selling car to Carmax?

Post by spammagnet » Fri Jan 06, 2017 12:05 am

Sold a 2007 Camry with 100K miles recently to Carmax. I expected KBB clean trade-in but was surprised at the effect of an accident 5 years ago on the price. The police report described it as a "disabling" accident. (A wheel was bent and it had to be towed from the scene.)

Unfortunately, "disabling accident" is rather vague but is a permanent mark on the title. Auction buyers of higher-tier cars will shun it. (It was old enough that Carmax wasn't going to hold it for sale.) The result was it being priced at KBB rough trade-in which, given that explanation, was understandable.

I accepted their offer because I wanted to be rid of the car and didn't want to sell privately. They cut me a check on the spot. I used my smartphone to deposit it in my bank account before I left the building. The entire transaction took 90 minutes, most of which was spent sipping coffee.

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burt
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Joined: Sun Feb 17, 2008 7:47 am

Re: Experience selling car to Carmax?

Post by burt » Fri Jan 06, 2017 8:22 am

Inframan4712 wrote:
sambb wrote:Have sold to Carmax. Good experience. Saves time. I like the process.


+1


Same here. Good experience. Headache car was gone and I had a check in my hand within 90 minutes. Uber took me back home.

burt

JLJL
Posts: 361
Joined: Wed Jan 08, 2014 11:10 pm

Re: Experience selling car to Carmax?

Post by JLJL » Sun Mar 12, 2017 9:23 am

Older post but had looked this up before making my decision so felt compelled to contribute.

Just sold 2015 Mazda CX-5 sport standard to carmax at 17k miles. Price was just under kbb and edmunds trade in value range for outstanding condition. Edmunds said trade in $14.3k, they offered $14k. And the mirror was cracked (prob $600 to replace). Fricken garage door frame came out of nowhere!

Maybe I could have gotten $15.5k on a private sale, but maybe not and at what cost?

Made same day apt online, went in 6pm Saturday and was only one in queue for an inspection. Literally 15mins chatting with sales guy while they gave it a once over. Quote for 14k, walked to the window and signed 4 places including title transfer, had plates and a check in-hand in less than an hour, no exaggeration probably 40mins.

Second car I've sold to them and am fine with the value of the convenience, safety, and peace of mind. YMMV!

(Like Burt, grabbed Lyft back home, actually to the library near my home)

Goinganontoday
Posts: 31
Joined: Sat Jan 14, 2017 4:58 pm

Re: Experience selling car to Carmax?

Post by Goinganontoday » Sun Mar 12, 2017 9:57 am

sambb wrote:Have sold to Carmax. Good experience. Saves time. I like the process.


+1

Extremely easy, haggle free process. We had no interest in doing a private party sale.

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gasdoc
Posts: 1257
Joined: Mon Nov 03, 2014 8:26 am

Re: Experience selling car to Carmax?

Post by gasdoc » Sun Mar 12, 2017 10:51 am

Love Carmax. For the past 20 years (or however long CarMax has been around), I have only bought and sold cars through Carmax. It is effortless and fair. Yes, they make a profit. But it is the best way by far to avoid buying and selling directly with the public. There is absolutely no sales pressure and no games. It is exactly the opposite of the usual card dealers.

gasdoc

deltaneutral83
Posts: 436
Joined: Tue Mar 07, 2017 4:25 pm

Re: Experience selling car to Carmax?

Post by deltaneutral83 » Sun Mar 12, 2017 7:00 pm

Have both bought and sold via Craigslist and both were a success. As a seller, I make it perfectly clear that things will go smoothly in my ad. As a buyer, I simply take it to the mechanic and swallow the $50-80 once we agree on price. My time is always worth $500 an hour which I've saved above Carmax on both occasions. Hondas with 120k+ miles are in the sweet spot for sellers as you'll have a ton of buyers lined up. Father and brother both use Craigslist as well and father actually bought a salvage for a steal ($7k for a VW that would have been worth $13-14) for a car that had only body work done. He had to fix the AC compressor for a grand but he drove it for 4 years and that was the only issue.

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gasdoc
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Re: Experience selling car to Carmax?

Post by gasdoc » Sun Mar 12, 2017 7:20 pm

deltaneutral83 wrote:Have both bought and sold via Craigslist and both were a success. As a seller, I make it perfectly clear that things will go smoothly in my ad. As a buyer, I simply take it to the mechanic and swallow the $50-80 once we agree on price. My time is always worth $500 an hour which I've saved above Carmax on both occasions. Hondas with 120k+ miles are in the sweet spot for sellers as you'll have a ton of buyers lined up. Father and brother both use Craigslist as well and father actually bought a salvage for a steal ($7k for a VW that would have been worth $13-14) for a car that had only body work done. He had to fix the AC compressor for a grand but he drove it for 4 years and that was the only issue.



Yes, you can certainly buy and sell cars on your own. Not everyone wants to do that, however. I don't mind giving Carmax $500 for the peace of mind that they back up their cars with their reputation. In my younger days I did it your way- though it was newspaper classified ads in that day :happy

gasdoc

ralph124cf
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Joined: Tue Apr 01, 2014 11:41 am

Re: Experience selling car to Carmax?

Post by ralph124cf » Sun Mar 12, 2017 7:39 pm

In 2007 I was selling a 1998 F-150 after I bought a new truck. Carmax had higher mileage, less well equipped F-150s advertised for sale for $10,000. They offered me $5,000. That is quite a profit margin. I sold privately for $7,000.

Check what Carmax is advertising as the sale price of a very similar car on their website, and expect them to offer half of that.

Ralph

deltaneutral83
Posts: 436
Joined: Tue Mar 07, 2017 4:25 pm

Re: Experience selling car to Carmax?

Post by deltaneutral83 » Mon Mar 13, 2017 9:32 am

gasdoc wrote:
deltaneutral83 wrote:



Yes, you can certainly buy and sell cars on your own. Not everyone wants to do that, however. I don't mind giving Carmax $500 for the peace of mind that they back up their cars with their reputation. In my younger days I did it your way- though it was newspaper classified ads in that day :happy

gasdoc



I meant $500 an hour, and I would say on the two cars I've sold it would be an average of 4 hours of time. The one I bought I literally showed up at the guys house, test drove it, gave him my lowest price, he acted like he could get higher. Then he came back a week later to accept and I lowered my price $200 for my time and took it to my mechanic (which he let me do). He met me at the bank the next day. It was less than two hours of total work on my part and I got a car for $300 less than what the state I live in assessed me on HUT at the DMV which as you know is always lower than the actual value. Saved at least two grand on a $17k purchase in my estimation had I bought from a dealer. The seller also made out with an extra $1500 I estimated as well. When you get to the level of $15k+, it's a buyers market as not many people who can afford those types of cars are on Craigslist looking. The seller told me afterward, he was going to tell his wife to drive it another year had I not come along as I was his only non low-ball offer. One thing I'll say about private sells is expect to replace the battery/wipers very soon after purchase and ask for all records and check how bald the tires are. Guy had only 12K on the tires when I bought which I thought was strange.

It's a situation where comfort is a must on the buy side, on the sell side, there's virtually nothing I'm not in control of so I will be selling every car from now on privately. I would encourage everyone to do it at least once and decide for themselves.

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