[Apex Everything]

CarMax Trade In Value versus KBB?

Those who have traded in their cars to CarMax, how much did you get in comparison to KBB?

I know KBB does not sell nor buy cars so it is a made up number but how much of a hit should I expect between the two?

To give you an example, my car according to KBB is worth between $26,000 and $23,500 it averages to $25,000-ish on their little graph.

What do you think CarMax will give me?

[Fundguy1]

20k

[Haywood]

Originally Posted by Apex Everything

CarMax Trade In Value versus KBB?

Those who have traded in their cars to CarMax, how much did you get in comparison to KBB?

I know KBB does not sell nor buy cars so it is a made up number but how much of a hit should I expect between the two?

To give you an example, my car according to KBB is worth between $26,000 and $23,500 it averages to $25,000-ish on their little graph.

What do you think CarMax will give me?

You will get ass raped.

[gtron]

Originally Posted by Apex Everything

CarMax Trade In Value versus KBB?

Those who have traded in their cars to CarMax, how much did you get in comparison to KBB?

I know KBB does not sell nor buy cars so it is a made up number but how much of a hit should I expect between the two?

To give you an example, my car according to KBB is worth between $26,000 and $23,500 it averages to $25,000-ish on their little graph.

What do you think CarMax will give me?

i don't know the answer but they go a few grand less and low ball. that's why pretty much any dealer will match them on trade-in. ever here "go see what carmax will give you?" that's why, they know it's the same or lower.

[Frozen]

In my experience CarMax will give you more than a dealer will, but it will still be quite a bit less than you want.

[ny325]

Does Carmax cut you a check same day?

[FriskyDingo]

My guess is 20-21K.

[atxgt3]

Originally Posted by ny325

Does Carmax cut you a check same day?

Yep it's a quick and easy process. In my experience it's quicker than even buying a car cash at a dealership.

[GOLFFRR]

I would say for your case if KBB is stating its worth 25k range then the dealer will offer you 18-20k if I had to guess. The number will mostly be influenced on the amount of inventory of your car they have, the demand in your area for that car, and the condition.

[casper83]

Originally Posted by Apex Everything

CarMax Trade In Value versus KBB?

Those who have traded in their cars to CarMax, how much did you get in comparison to KBB?

I know KBB does not sell nor buy cars so it is a made up number but how much of a hit should I expect between the two?

To give you an example, my car according to KBB is worth between $26,000 and $23,500 it averages to $25,000-ish on their little graph.

What do you think CarMax will give me?

Take a look at NADA. The local CarMax bases their prices off the auction statistics, but they said NADA is a bit more accurate than KBB.

I've had 3 cars appraised lower than KBB and 1 car higher through CarMax. Typically they've been a couple thousand less than KBB.

If your car is something they would sell on their lot I'll guess $23.7k, if it's one they would send to auction I'll guess $21k.

[P1]

My friend sold his BMW to CarMax and got quite a bit more than the dealership was willing to give him on trade it. Did this twice.

[Nitrousbird]

Why not just sell it outright? Post it on Autotraders, Cars.com, etc.

No reason to give Carmax or some dealer thousands upon thousands in profit.

[CreoUCLA]

Originally Posted by Nitrousbird

Why not just sell it outright? Post it on Autotraders, Cars.com, etc.

No reason to give Carmax or some dealer thousands upon thousands in profit.

It's a trade off. Not everyone wants to have to list their car, schedule test drives, haggle with potential/flaky buyers, etc...

CarMax is easy (and that's why you get less $ versus selling privately). I've sold a couple cars to them now, and they've given me more than the local dealership(s) would. I'm in and out in about an hour when I go to actually sell the car (with check in hand).

[zx10guy]

I had CarMax do an appraisal on my 94 Z28 and they were ridiculously low. I went to We Buy Any Car (WBAC) and they more than doubled what CarMax offered. So my answer is don't go to CarMax and check out the various car buying companies out there. WBAC did the inspection of the car on the spot, sent in their appraisal form for review at some central office, and I walked out with a check that same day.

[Nitrousbird]

Originally Posted by CreoUCLA

It's a trade off. Not everyone wants to have to list their car, schedule test drives, haggle with potential/flaky buyers, etc...

CarMax is easy (and that's why you get less $ versus selling privately). I've sold a couple cars to them now, and they've given me more than the local dealership(s) would. I'm in and out in about an hour when I go to actually sell the car (with check in hand).

You know what that is called - being f'ing lazy and dumb with your money.

For a decently valued car, you will make at least 2k more selling it outright than on trade in.

Even if it takes you 20 hours of time (which would obviously be little pieces of time over a number of days), do you really average a TAKE HOME, AFTER TAXES pay of $100/hr? Assuming a job where you would even be able to make money during that time, which again is split up as little chunks here and there.

I've sold a number of vehicles (and a boat) outright...I didn't have nearly 20 hours invested in any of them. So what you are suggesting is to be lazy and not value money. Seems a lot of folks like to do that.

[Frozen]

OP take your car to carmax and report back what they offered.

[CreoUCLA]

Originally Posted by Nitrousbird

You know what that is called - being f'ing lazy and dumb with your money.

For a decently valued car, you will make at least 2k more selling it outright than on trade in.

Even if it takes you 20 hours of time (which would obviously be little pieces of time over a number of days), do you really average a TAKE HOME, AFTER TAXES pay of $100/hr? Assuming a job where you would even be able to make money during that time, which again is split up as little chunks here and there.

I've sold a number of vehicles (and a boat) outright...I didn't have nearly 20 hours invested in any of them. So what you are suggesting is to be lazy and not value money. Seems a lot of folks like to do that.

If your time only equates to money, then I can see that. I work 10+ hours a day (and sometimes 7 days a week). The last thing I want to do is come home and try to sell a car online/in person. I'd rather spend my free time with my wife, spend time with my son, take my dog for a walk, etc.

Like I said, it's "easier" to sell to CarMax. If money was the only motivation, then yes you should sell privately. But like I said, it's a trade off.

Dumb and lazy with money? If you'd like to compare income/assets, feel free to PM me.

[atxgt3]

I just sold a car to CarMax, I just didn't want to deal with the hassle. At first I thought they offered me a low price, but then I checked the listings.. Prices had cratered since last year, and they weren't too far off what I could have bought a similar year/mileage car for even from a dealer locally.

Also the car was in need of some repairs and I just didn't want to deal with that. CarMax didn't care.

[Apex Everything]

Originally Posted by e90m305

OP take your car to carmax and report back what they offered.

I definitely will, I just wanted to have the right mindset going in.

[RickFLM4]

Part of the answer depends on whether or not CarMax will keep / sell the car or send it to auction. If you have a low mileage clean car they want you will get closer to KBB, Edmunds, etc. (but still less). If the car is older with high mileage, they will give you a lot less than if they will make money reselling it. In that case, they are doing you a service to take it off your hands, so you'll probably get less than wholesale.

[AW335TT]

No one pays attention to KBB.

Carmax is always worth a shot. When I was at BMW, Carmax beat our trade in price majority of the time.

[zx10guy]

I still don't get all this discussion of what Carmax will offer for a car. If you're looking to avoid selling it yourself, you're doing yourself a big disservice if you don't investigate the other car buying services out there. What these other car buying services have over Carmax is a much lower overhead because they don't have a fancy showroom nor a large staff they have to pay. These services specialize in buying cars period and either selling to other dealers or auctioning them off.

While your situation will probably be different than what happened to me, I am not lying when I say We Buy Any Cars more than doubled what Carmax was offering me for my 94 Z28; even though the Carmax appraisal report said my car was in great condition.

But it's your car and your potential loss in the max you can get for your car.