Has anyone had an experience- good or bad- selling their car to CarMax? I have a 2018 Toyota RAV4 coming off lease in July. The car has 17,500 miles on it, barely broken in. After entering the VIN, CarMax quoted me a number more than $4,000 higher than my buyout option on my lease. Am I crazy to consider this? Sounds almost too good to be true.
Any comments would be appreciated. Thank you.
Friend told me today at lunch he did a lease trade in with car Ana for like $2,500 over buyout and couldn’t believe how easy it was. So that’s potential ally a second option.
Good luck!
There will never be a better market to sell a used car.
Long story short, all they could do over the phone was year, make, model, and color (which wasn't even on my shopping list).
Every franchised dealer that I talked with was able to tell me the equipment on each and every vehicle they had on their used car lot.
Very much appreciated!!!
The re-sale market is hot right now so Carmax can be aggressive. I quoted out my wife’s early 2000’s Corolla with them back in 2012 and they were well below the trade in offers that we had. This recent situation was completely different.
I think their offers are usually a little less than market value but it’s so easy it’s probably worth it.
Agreed, when you consider what a pain in the ass it is to sell a vehicle to someone privately it’s well worth taking a little less from CarMax. Between the having to meet with the buyer, deal with them inspecting or having a mechanic inspect the vehicle, making sure you get the correct funds, title transfers, etc. in a private sale CarMax is the way to go.
I was not looking to sell, but since I had a 2nd car that was paid for, it just made too much sense to sell at that offer.
It was easy. I got a quote from them online. I then made an appointment to show them the car at one of their centers. (Huge place, it dwarfed even big car dealers I've been to).
Within an hour, they verified the online offer they'd made. Maybe half an hour after that, I had a check in my hand.
My experience definitely was positive.
There will never be a better market to sell a used car.
This. I had a lease end and the dealer asked me to buy it out and sell it back to him at more than the residual value. They turned around and it marked it up another couple grand to sell it. Was a win-win for everyone.
agreed...VROOM is also a good option
Now as for buying a car there - they are usually very overpriced for what you get, so I'm fine sticking with the one-way relationship.
Now as for buying a car there - they are usually very overpriced for what you get, so I'm fine sticking with the one-way relationship.
Yeah. I bought a 2020 Miata in September and was looking closely at Carmax and Carvanna for a 2018 or 2019. I thought the prices were too high and for a just a couple thousand more I bought a brand new one.
Still, I'll always get their quote before doing anything.
Still, I'll always get their quote before doing anything.
Quote:
they had a better offer and it was super easy (they came and picked it up instead of having to drop it off). I'm sure Carmax is good but if you are looking for another option Carvana was super easy. Filled out a form online and got exactly what they quoted.
agreed...VROOM is also a good option
DO NOT USE VROOM. I sold a car there, that company is totally silo'd and doesn't communicate with each other. Makes for a terrible customer experience. Carvana and Carmax are much better. Let me know if you need more context.
For newer model used cars their prices tend to be less competitive. For older cars, the prices are in the ballpark of dealers.
Carmax is popular because they have a no pressure/no haggle sales model. Most people hate, Hate, HATE the haggling typical with the dealer experience. The average person isn’t skilled at it and comes out feeling ripped off. Getting a fair deal without hassle even if it’s not the best appeals to many.
On top of that, they have a 30 day return policy and a 90 day warranty. Gives a peace of mind you don’t get at the dealers.