Best deal for used car

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am
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Best deal for used car

Post by am » Sat Nov 30, 2019 10:53 pm

I am selling my 12 year old bmw and got an offer from car max for 2500. Kelly blue book range for trade in is about 2300-3400. I saw dealers selling similar cars on edmunds.com for 6000+. I am getting my new lease later this week and need to unload this car. Should I go with car max or do you guys think I could make more somewhere else? Would rather avoid Craigslist and selling to individuals. Thanks.

BogleMelon
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Re: Best deal for used car

Post by BogleMelon » Sat Nov 30, 2019 11:14 pm

A couple of years ago I sold a car using Facebook marketplace. One thing is good about FB Marketplace, is that you can only respond to inquire from people with a decent profile (a family man..etc). Other than that, I would say, any dealer (including trade-in) or Carmax is OK, but you will get around 50% of what you would get if you would sell it directly to an end-user
"One of the funny things about stock market, every time one is buying another is selling, and both think they are astute" - William Feather

atikovi
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Re: Best deal for used car

Post by atikovi » Sun Dec 01, 2019 9:37 pm

Do you have full coverage insurance on it? :twisted:

random_walker_77
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Re: Best deal for used car

Post by random_walker_77 » Sun Dec 01, 2019 10:22 pm

am wrote:
Sat Nov 30, 2019 10:53 pm
I am selling my 12 year old bmw and got an offer from car max for 2500. Kelly blue book range for trade in is about 2300-3400. I saw dealers selling similar cars on edmunds.com for 6000+. I am getting my new lease later this week and need to unload this car. Should I go with car max or do you guys think I could make more somewhere else? Would rather avoid Craigslist and selling to individuals. Thanks.
If you're not willing to do the work and endure the hassles of selling to individuals, you're not going to get the best price. The dealer price represents a max price, and carmax represents a min price. Buyers are willing to pay top dollar for a dealer and are going to expect more to if buying from an individual to compensate for the risks associated w/ buying from an individual, so don't think about $6000.

Since you won't sell to individuals, shop it around to some dealers and see if any will offer you better than carmax. You might get a few hundred dollars more? If not, then sell it to carmax, and try not to think about the money you're leaving on the table. That's just the price of convenience. Before you take it to dealers though, at the very least take the car through a carwash and vacuum out the interior.

I would also add in a couple points of reference. I've sold a 12 year old convertible for just under $5K private party, and a 14 year old camry for just over $5K. Both were lower-mileage vehicles, but if your bmw is running well, a little work could net you another 1-2 thousand dollars. For some people, that's worth the effort. Alternately, I see some agents who sell other people's cars on their lots -- see if you can find anyone trustworthy who will sell it for you, for a cut of the profit above $2500.

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dm200
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Re: Best deal for used car

Post by dm200 » Mon Dec 02, 2019 11:06 am

am wrote:
Sat Nov 30, 2019 10:53 pm
I am selling my 12 year old bmw and got an offer from car max for 2500. Kelly blue book range for trade in is about 2300-3400. I saw dealers selling similar cars on edmunds.com for 6000+. I am getting my new lease later this week and need to unload this car. Should I go with car max or do you guys think I could make more somewhere else? Would rather avoid Craigslist and selling to individuals. Thanks.
We have both bought and sold cars using Craigslist - no problems. Both cars that we sold had significant problems - all fully disclosed. I was surprised at how quickly I sold (as full asking price) a 2005 Mazda 3 - that ran - but known serious engine problems (which I fully disclosed). Sold out 2002 Chrysler minivan with bad motor - but had to list it a second time - then sold quickly.

We might need a replacement for one of our older Camrys soon - and I expect to buy one from an individual on Craigslist (unless we stumble onto a car being sold by someone we know). We bought our 2002 Camry on Craigslist two years ago - turned out fine.

Why do you want to avoid Craigslist? Any problems with the car?

BruinBones
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Re: Best deal for used car

Post by BruinBones » Mon Dec 02, 2019 12:54 pm

Although Carmax gives you low KBB value, it is a straightforward, no hassle, no haggle, immediate transaction. Ideal for someone who would like to expedite things without delay, such as you describe. I sold my Mercedes to them last month. I think Carmax is good for selling, but not for buying.

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dm200
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Re: Best deal for used car

Post by dm200 » Mon Dec 02, 2019 1:33 pm

BruinBones wrote:
Mon Dec 02, 2019 12:54 pm
Although Carmax gives you low KBB value, it is a straightforward, no hassle, no haggle, immediate transaction. Ideal for someone who would like to expedite things without delay, such as you describe. I sold my Mercedes to them last month. I think Carmax is good for selling, but not for buying.
I never used Carmax, but from what I have seen - folks seem to pay a lot for Carmax used cars. These buyers, from what I hear all the time - always seem very happy when buying a used car from CarMax. Any idea why CarMax makes them so "happy"?

CarMax also seems to be growing all the time as well. Buyers must be generally happy if Carmax is selling a lot more used cars.

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djpeteski
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Re: Best deal for used car

Post by djpeteski » Mon Dec 02, 2019 1:43 pm

dm200 wrote:
Mon Dec 02, 2019 1:33 pm
I never used Carmax, but from what I have seen - folks seem to pay a lot for Carmax used cars. These buyers, from what I hear all the time - always seem very happy when buying a used car from CarMax. Any idea why CarMax makes them so "happy"?
I think there are a couple of things that people happy with CarMax. Good customer service, very low pressure, and the inventory is fantastic. I feel that since it is no haggle, then people feel they are getting just a good a deal as the person at the next table. They never seem to have promos, rebates, weird financing deals etc... that stress out car buyers from a typical car dealership.

In a typical car dealership they do negotiations out on the floor so there is very little privacy. The average joe consumer cuts a deal with their sales guy, and could over hear someone getting a much better deal on the same car! There is an epic thread on this site that talks about avoiding the games that typical dealers play. Its stressful at most dealerships. CarMax does away with that and people are willing to pay for that. Heck there is not even the whole "talk to the manager" dance at CarMax. The price is the price.

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dm200
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Re: Best deal for used car

Post by dm200 » Mon Dec 02, 2019 2:01 pm

djpeteski wrote:
Mon Dec 02, 2019 1:43 pm
dm200 wrote:
Mon Dec 02, 2019 1:33 pm
I never used Carmax, but from what I have seen - folks seem to pay a lot for Carmax used cars. These buyers, from what I hear all the time - always seem very happy when buying a used car from CarMax. Any idea why CarMax makes them so "happy"?
I think there are a couple of things that people happy with CarMax. Good customer service, very low pressure, and the inventory is fantastic. I feel that since it is no haggle, then people feel they are getting just a good a deal as the person at the next table. They never seem to have promos, rebates, weird financing deals etc... that stress out car buyers from a typical car dealership.
In a typical car dealership they do negotiations out on the floor so there is very little privacy. The average joe consumer cuts a deal with their sales guy, and could over hear someone getting a much better deal on the same car! There is an epic thread on this site that talks about avoiding the games that typical dealers play. Its stressful at most dealerships. CarMax does away with that and people are willing to pay for that. Heck there is not even the whole "talk to the manager" dance at CarMax. The price is the price.
It also seems that CarMax has a very, very large inventory of late model used cars - and not the lower number that car dealers have. Maybe buyers like the wide choices.

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sk2101
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Re: Best deal for used car

Post by sk2101 » Mon Dec 02, 2019 3:06 pm

am wrote:
Sat Nov 30, 2019 10:53 pm
I am selling my 12 year old bmw and got an offer from car max for 2500. Kelly blue book range for trade in is about 2300-3400. I saw dealers selling similar cars on edmunds.com for 6000+. I am getting my new lease later this week and need to unload this car. Should I go with car max or do you guys think I could make more somewhere else? Would rather avoid Craigslist and selling to individuals. Thanks.
Get quotes from Carvana and Vroom, they may offer you more than Carmax.

delamer
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Re: Best deal for used car

Post by delamer » Mon Dec 02, 2019 6:46 pm

sk2101 wrote:
Mon Dec 02, 2019 3:06 pm
am wrote:
Sat Nov 30, 2019 10:53 pm
I am selling my 12 year old bmw and got an offer from car max for 2500. Kelly blue book range for trade in is about 2300-3400. I saw dealers selling similar cars on edmunds.com for 6000+. I am getting my new lease later this week and need to unload this car. Should I go with car max or do you guys think I could make more somewhere else? Would rather avoid Craigslist and selling to individuals. Thanks.
Get quotes from Carvana and Vroom, they may offer you more than Carmax.
Try a BMW dealer too.

delamer
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Re: Best deal for used car

Post by delamer » Mon Dec 02, 2019 6:53 pm

dm200 wrote:
Mon Dec 02, 2019 1:33 pm
BruinBones wrote:
Mon Dec 02, 2019 12:54 pm
Although Carmax gives you low KBB value, it is a straightforward, no hassle, no haggle, immediate transaction. Ideal for someone who would like to expedite things without delay, such as you describe. I sold my Mercedes to them last month. I think Carmax is good for selling, but not for buying.
I never used Carmax, but from what I have seen - folks seem to pay a lot for Carmax used cars. These buyers, from what I hear all the time - always seem very happy when buying a used car from CarMax. Any idea why CarMax makes them so "happy"?

CarMax also seems to be growing all the time as well. Buyers must be generally happy if Carmax is selling a lot more used cars.
Not sure why you think “folks seem to pay a lot for Carmax used cars.” Seems likely that you have a limited sample size and probably not a lot of detail even on those vehicles.

We’ve bought several cars from CarMax. We do our research and only buy vehicles that are fairly-priced based on prices listed on edmunds.com, kbb.com. etc.

If people are overpaying at CarMax, then they are going to overpay wherever they buy.

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am
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Re: Best deal for used car

Post by am » Mon Dec 02, 2019 8:59 pm

delamer wrote:
Mon Dec 02, 2019 6:46 pm
sk2101 wrote:
Mon Dec 02, 2019 3:06 pm
am wrote:
Sat Nov 30, 2019 10:53 pm
I am selling my 12 year old bmw and got an offer from car max for 2500. Kelly blue book range for trade in is about 2300-3400. I saw dealers selling similar cars on edmunds.com for 6000+. I am getting my new lease later this week and need to unload this car. Should I go with car max or do you guys think I could make more somewhere else? Would rather avoid Craigslist and selling to individuals. Thanks.
Get quotes from Carvana and Vroom, they may offer you more than Carmax.
Try a BMW dealer too.
They gave me less than Carmax.

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SmallCityDave
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Re: Best deal for used car

Post by SmallCityDave » Tue Dec 03, 2019 5:51 pm

am wrote:
Sat Nov 30, 2019 10:53 pm
I am selling my 12 year old bmw and got an offer from car max for 2500. Kelly blue book range for trade in is about 2300-3400. I saw dealers selling similar cars on edmunds.com for 6000+. I am getting my new lease later this week and need to unload this car. Should I go with car max or do you guys think I could make more somewhere else? Would rather avoid Craigslist and selling to individuals. Thanks.
What is your definition of "Best deal"?

You want to sell it but you don't want to deal with the entity that is most likely to pay you the highest amount?

I guess you can just go dealer to dealer looking to wholesale it and see who will offer you the most... that sound like the most painful option. I would post an ad on CL and FB and screen the emails looking for the most serious buyer (I wouldn't post my phone number).

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dm200
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Re: Best deal for used car

Post by dm200 » Wed Dec 04, 2019 11:30 am

SmallCityDave wrote:
Tue Dec 03, 2019 5:51 pm
am wrote:
Sat Nov 30, 2019 10:53 pm
I am selling my 12 year old bmw and got an offer from car max for 2500. Kelly blue book range for trade in is about 2300-3400. I saw dealers selling similar cars on edmunds.com for 6000+. I am getting my new lease later this week and need to unload this car. Should I go with car max or do you guys think I could make more somewhere else? Would rather avoid Craigslist and selling to individuals. Thanks.
What is your definition of "Best deal"?
You want to sell it but you don't want to deal with the entity that is most likely to pay you the highest amount?
I guess you can just go dealer to dealer looking to wholesale it and see who will offer you the most... that sound like the most painful option. I would post an ad on CL and FB and screen the emails looking for the most serious buyer (I wouldn't post my phone number).
Yes - my view as well.

As I previously posted, we had very good outcomes in selling two different cars on Craigslist. if personal safety/security is a concern - then do not show your home address and arrange to meet potential buyers at a safe and neutral location. Perhaps, as well, have a friend be with you. My guess is that selling on Craigslist might net about $500 or more.

novemberrain
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Re: Best deal for used car

Post by novemberrain » Wed Dec 04, 2019 11:57 am

I sold 2 vehicles to CarMax this year. Main advantage is I don’t have to sit at home several weekends trying to sell to private party on my own. There are only so many weekends in a year

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dm200
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Re: Best deal for used car

Post by dm200 » Wed Dec 04, 2019 11:59 am

novemberrain wrote:
Wed Dec 04, 2019 11:57 am
I sold 2 vehicles to CarMax this year. Main advantage is I don’t have to sit at home several weekends trying to sell to private party on my own. There are only so many weekends in a year
Yes - when selling a car privately, "no shows" are a common problem. Perhaps set aside a range of hours on one day for potential buyers to schedule.

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SmallCityDave
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Re: Best deal for used car

Post by SmallCityDave » Wed Dec 04, 2019 5:19 pm

dm200 wrote:
Wed Dec 04, 2019 11:30 am
SmallCityDave wrote:
Tue Dec 03, 2019 5:51 pm
am wrote:
Sat Nov 30, 2019 10:53 pm
I am selling my 12 year old bmw and got an offer from car max for 2500. Kelly blue book range for trade in is about 2300-3400. I saw dealers selling similar cars on edmunds.com for 6000+. I am getting my new lease later this week and need to unload this car. Should I go with car max or do you guys think I could make more somewhere else? Would rather avoid Craigslist and selling to individuals. Thanks.
What is your definition of "Best deal"?
You want to sell it but you don't want to deal with the entity that is most likely to pay you the highest amount?
I guess you can just go dealer to dealer looking to wholesale it and see who will offer you the most... that sound like the most painful option. I would post an ad on CL and FB and screen the emails looking for the most serious buyer (I wouldn't post my phone number).
Yes - my view as well.

As I previously posted, we had very good outcomes in selling two different cars on Craigslist. if personal safety/security is a concern - then do not show your home address and arrange to meet potential buyers at a safe and neutral location. Perhaps, as well, have a friend be with you. My guess is that selling on Craigslist might net about $500 or more.
I sold 2 vehicle recently, November 2018 and January of this year I got my full asking price (retail) on both cars, I sold them to the 1st and only person I showed them to and they both sold within 3 days of listing, I could have sold them sooner but I wasn't about to change my schedule. Both were older vehicles 1st car was in great shape but high miles (180k) other car was in good shape and low miles but paint was bad (patina?), I had both for right about 4 years and didn't put much into them and I was able to sell them from more than my purchase price.

Looking at KBB trade in was less than half of my asking price, I would have gladly sold them to the dealer for $500 less but I knew they wouldn't/couldn't pay that so I chose to do it myself and they were some of the easiest transactions I've ever had.

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dm200
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Re: Best deal for used car

Post by dm200 » Wed Dec 04, 2019 5:22 pm

I sold 2 vehicle recently, November 2018 and January of this year I got my full asking price (retail) on both cars, I sold them to the 1st and only person I showed them to and they both sold within 3 days of listing, I could have sold them sooner but I wasn't about to change my schedule. Both were older vehicles 1st car was in great shape but high miles (180k) other car was in good shape and low miles but paint was bad (patina?), I had both for right about 4 years and didn't put much into them and I was able to sell them from more than my purchase price.
Looking at KBB trade in was less than half of my asking price, I would have gladly sold them to the dealer for $500 less but I knew they wouldn't/couldn't pay that so I chose to do it myself and they were some of the easiest transactions I've ever had.
Similar to our experience.

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jabberwockOG
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Re: Best deal for used car

Post by jabberwockOG » Thu Dec 05, 2019 7:54 am

The price you get for a used car is inversely related to the effort and time you put into selling it. Carmax is super easy so you will get low price. Detailing the car, taking and posting great pictures, and vetting buyers and selling for your price on autotrader takes a lot more effort and time but the price will be much higher. There are no shortcuts.

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dm200
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Re: Best deal for used car

Post by dm200 » Thu Dec 05, 2019 2:37 pm

jabberwockOG wrote:
Thu Dec 05, 2019 7:54 am
The price you get for a used car is inversely related to the effort and time you put into selling it. Carmax is super easy so you will get low price. Detailing the car, taking and posting great pictures, and vetting buyers and selling for your price on autotrader takes a lot more effort and time but the price will be much higher. There are no shortcuts.
Yes - I tend to agree as well

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