Carmax experiences

[Airforce131]

For those of you who have sold their gti's to carmax.


Were you happy with the price they gave you?

Also, if you have some negative equity will they allow you to roll it into another car on their?

 

[nouse4aname]

Haven't sold a GTI to them, but sold my Celica to them for a very fair price and it was an awesome service experience. Also had them evaluate our RAV4, but the Autotrader no hassle trade in program beat them in price for that.

Wish their purchase prices weren't so high because I definitely would have given them my business.

Whether they can roll in negative equity or not has more to do with what financing you can get approved for...I'm sure they'd be happy to do that to you if you qualify.

 

[Bender1]

Just from a financial perspective I always recommend STRONGLY against rolling negative equity... unless the car is DEAD keep it until you are in the black.

 

[dudemanz]

I have had Carmax appraise a few cars and they never offered close to what I could get by selling it myself. They would be more competitive if it was a late model car. But you will almost always get a few thousand $$ more by selling it yourself if you have the knowledge and desire.

 

[krische]

I have had Carmax appraise a few cars and they never offered close to what I could get by selling it myself. They would be more competitive if it was a late model car. But you will almost always get a few thousand $$ more by selling it yourself if you have the knowledge and desire.

Isn't it a big hassle to sell an expensive used car like the GTI to someone private party? I assume anyone buying it from you can't pay in cash, but needs their own financing?

 

[Bender1]

1) Why couldn't they pay in cash?
2) If they get financing, the bank will send them a certified check in the amount of the purchase price which they will sign over to you.

 

[dudemanz]

I've sold 5 or 6 cars myself. It's not hard to sell an expensive car but it does take time. You have to be available for people to come see it and test drive it. Some people may want to take it to a mechanic for inspection. It is a fair request.

In my view, the biggest issue these days is payment. Whether they are paying cash or financing, their bank will give them a certified check. It is not hard to print a fake certified check. There are a few things you can do to protect against this.

1. Take a picture of their driver's license before the test drive.
2. Don't sell it if you think they are shady.
3. Make the transaction during bank hours. Call the bank to verify the check.

Here's a decent article from Edmunds:
http://www.edmunds.com/sell-car/edmundscoms-quick-guide-to-selling-your-car.html

 

[Blueteam]

I've sold 5 or 6 cars myself. It's not hard to sell an expensive car but it does take time. You have to be available for people to come see it and test drive it. Some people may want to take it to a mechanic for inspection. It is a fair request.

In my view, the biggest issue these days is payment. Whether they are paying cash or financing, their bank will give them a certified check. It is not hard to print a fake certified check. There are a few things you can do to protect against this.

1. Take a picture of their driver's license before the test drive.
2. Don't sell it if you think they are shady.
3. Make the transaction during bank hours. Call the bank to verify the check.

Here's a decent article from Edmunds:
http://www.edmunds.com/sell-car/edmundscoms-quick-guide-to-selling-your-car.html

I always bring the person to my bank and let the teller tell me it cleared.

Cash or cheque .. no way im givin my car away for free.

 

[cawgti]

I had this issue when selling an infiniti a few years ago, even with the check in hand the bank stated they couldn't tell me if the check was valid. Makes me nervous as someone stated about getting a check that is bad and your car dissappears. However, I also agree, you can tell if someone is shady and copy their ins card, registration and license with a written sale agreement.

I had to wait for the check to clear so that the title could be released, that was the harder part of the deal.

 

[Mello03]

IMO Carmax is for those that are a little desperate to sell/trade their car or just want a hassle free cash experience. I got 1750 more for the car they appraised when I traded it in on my GTI. I paid 250 over invoice as well. There wasn't a bunch of money hiding holdback and dealer cash either so that gave me a pretty good idea that Carmax was lowballing.

 

[Skirball]

I recognize that it's a free market, and their business model works, so I can't really blame them... but f&#$ Carmax. They just prey on people's laziness and desire to do all their commerce through mega Costco-style companies. Granted they're just buying low and selling high, tis the business way, but I wouldn't give them my business. Especially with a car as easy to sell as a GTI. Like Mello said, they're just there for those that are willing to lose some (a lot?) of cash for convenience. I'd imagine a dealership is going to be just as competitive, if not much more, if you intend on buying another car, and they usually make it pretty damn convenient if you're giving them money.

I went there when selling my wife's Ford Escape just to feel out the market. They brought up some BS about minor cosmetic damage on the roof and a few other things. Quoted me just over $5k. Sold it for $10k to a private buyer.

 

[doublevanosrc]

Carmax lowballs like crazy on trade in and when they appraised your car. I always get more $$$ trading it at the dealer.

 

[Gunkata]

And depending on the state you live in, you can get a sales tax credit when trading in a vehicle.

 

[dustinouch]

I had a very positive experience with Carmax, they bought my leased Honda Element after I had already purchased my GTI from another dealer.

I had a cracked windshield, bald tires, over my miles, and a CEL. I was only expecting them to buy out my lease but left with a check for $1,200.

I'm sure my experience with carmax was an outlier, I wouldn't sell the GTI through them but if I ever leased again I would.

 

[maxtdi]

Car-max is a bit odd, they are trying to sell used GTIs for more than new... so one would THINK that they would give good trade-in money.