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Open Roads Forum  >  Around the Campfire  >  General Topics

 > CarMax - Appraisals

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loranimal

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Posted: 01/05/15 06:35am Link  |  Quote  |  Print  |  Notify Moderator

Was wondering if anyone has ever got their vehicle appraised or sold a car out right to CarMax? Was their appraisal anywhere near Kelly Blue Book?

Thanks


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JayGee

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Posted: 01/05/15 08:21am Link  |  Quote  |  Print  |  Notify Moderator

I had one appraised and the offer was a little below low wholesale. What I hear is that the offer will be a few hundred under what they could buy your vehicle at a wholesale auction.

But I would suggest you just go see em and see what they offer. It only takes about a half hour and they do not pester you very much after your visit. It is a quick and easy way to sell a vehicle.


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Posted: 01/05/15 08:56am Link  |  Quote  |  Print  |  Notify Moderator

I work as a buyer for a very large retail car company and selling to a dealer is a risk free, fast and easy way to get rid of your car. Obviously, you can get more for your car if you sell it to the open market yourself, but a lot of people aren't willing to go through the hassle of dealing with it nowadays.
Carmax is like any other other dealer. They buy at wholesale market prices (adjusting their appraisal for the cost of reconditioning, marketing, etc)and sell it for the current retail market value. Don't always rely on what Kelley Blue Book or Edmonds might say. Wholesale values can change weekly and these guides are used mostly by lenders and banks to determine loan amounts. Right now the used car market is very strong and nice low mileage cars are getting harder to find. It's a little seasonal so trucks and SUVs are holding strong prices where sports cars are soft until the spring/summer market hits. With the dropping of gas prices, the economy cars have softened up a bit (with exception of some Honda's, Toyota's). If you sell to a dealer, shop a couple of big stores for the best price, but usually their appraisals will be pretty consistent. Avoid small independent used car dealers.

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Posted: 01/05/15 09:14am Link  |  Quote  |  Print  |  Notify Moderator

We sold a car to a dealer through the Auto Trader network, it was mostly hassle free. I did what I thought was a fair appraisal on line and took a copy of it to a dealer in our area they recommended. When we arrived they took our car out to confirm that the online appraisal was correct and when they came back they offered us $500.00 more than the appraisal, which made our day. The only hitch was that we had to come back in three days to get the check, which we did, We walked in they gave us the check said thank you for choosing them and out we went with a smile on our face. I hope if you choose to do this, your experience is like ours.


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Posted: 01/12/15 01:52pm Link  |  Quote  |  Print  |  Notify Moderator

MIL sold her 2012 Honda Civic to CarMax earlier this year. They gave her $3000 over the BB and Kelley estimates. 'Course, it had very low mileage or wear and tear. Sent it to detailing and it was on the sales deck the next day (we checked).


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Posted: 01/12/15 02:25pm Link  |  Quote  |  Print  |  Notify Moderator

We recently sold a car to CarMax. The price was about 85% of BB mid-wholesale. It was a 7 year old, 100,000 miles vehicle.

We were very happy.

Most important - it was 1 hour 15 minutes from walking in the door to out the door with our check. Absolutely no pressure to buy from them.


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Mountain Mama

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Posted: 01/14/15 10:58am Link  |  Quote  |  Print  |  Notify Moderator

We got a quote from them & it gave us a bargaining point when we traded vehicles. If dealer didn't match at least what Car Max quote was, we knew we could take it back & sell to them. (& yes I realize dealer probably still came out ahead but it made us feel better!) We were very pleased with Car Max offer.


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Posted: 01/14/15 01:10pm Link  |  Quote  |  Print  |  Notify Moderator

I need an RVMax

Old-Biscuit

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Posted: 01/14/15 02:01pm Link  |  Quote  |  Print  |  Notify Moderator

JAXFL wrote:

I need an RVMax


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