CarMax Trade In Value versus KBB?

[PoorMansCamaro]

Originally Posted by Cars and Tea

I appreciate everyones responses, but I need more.

When you say you were laughing at their trade in quote that does not tell me much.

If KKB says $10,000 they offered you $9,000 for all I know is $1,000 less will make you laugh at them. Personally, I feel it is worth $25,000, but if they give me $23-24,000 I will take it for no hassle.

Can you give me more comparison based on your values?

Like you thought your car was worth X, they wanted to give you Y, you sold it for Z.

it costs you nothing but time, to go to your nearest CarMax, and have them give you a quote.

[PoorMansCamaro]

Originally Posted by Cars and Tea

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 would expect them to offer you 21-22k. good luck.

[shaffe]

Originally Posted by Cars and Tea

I appreciate everyones responses, but I need more.

When you say you were laughing at their trade in quote that does not tell me much.

If KKB says $10,000 they offered you $9,000 for all I know is $1,000 less will make you laugh at them. Personally, I feel it is worth $25,000, but if they give me $23-24,000 I will take it for no hassle.

Can you give me more comparison based on your values?

Like you thought your car was worth X, they wanted to give you Y, you sold it for Z.

OK, when I traded my Mustang in, I didn't want to deal with selling it privately (did that on the one before, lots of tire kickers and bs) So i was just going to trade it. So naturally I used KBB to help gauge what I should get for it.

Private sale, the car was worth 17, so I knew trade in would be less. I wanted at least 14.5 (KBB at the time was like 13, but I really wanted higher to sway me into getting rid of it lol)

Dealer initially offered me 13.5, went to car max they offered me around 12, so I went back to the dealer.

So in my personal experience, Carmax was less than what trade in value from the dealer was. This was on the mustang so the numbers were a little all over the place.


However my sister when she was trading in her SUV, she got a better offer from Carmax than the trade in at the dealer, BUT trading it to the dealer was the better deal for her bc it saved her on the sales tax. Carmax was closer to what the KBB trade in value was, but the dealer trade in helped more with the deal.

So in my 2 experiences it depends on the vehicle. On my mustang, they were lower than KBB value, my sisters SUV they were almost spot on with the trade in value

[roorback]

Originally Posted by Cars and Tea

I appreciate everyones responses, but I need more.

When you say you were laughing at their trade in quote that does not tell me much.

If KKB says $10,000 they offered you $9,000 for all I know is $1,000 less will make you laugh at them. Personally, I feel it is worth $25,000, but if they give me $23-24,000 I will take it for no hassle.

Can you give me more comparison based on your values?

Like you thought your car was worth X, they wanted to give you Y, you sold it for Z.

Unless its an in-demand car they typically offer less than trade-in value. They don't quite go as low as wholesale but it's less than I've been comfortable taking. I would expect 21k

[Scalded Dog]

Gonna buck the trend here: I took a truck to CarMax... I had KBB'd it at around $7000. CarMax offered my $8000. However, I ended up trading it in at a dealership for $8500, after having mentioned my CarMax offer.

My advice? Take it in to CarMax. They'll make you a written offer which is good for seven days or so. There is no obligation, no cost for the appraisal. No pressure, either, at least not for me, and I have never heard anybody complain about it happening there. There's no risk: You might like the offer, you might not... either way, you can choose... there's no risk.

[BriteCrawler]

Originally Posted by Cars and Tea

I appreciate everyones responses, but I need more.

When you say you were laughing at their trade in quote that does not tell me much.

If KKB says $10,000 they offered you $9,000 for all I know is $1,000 less will make you laugh at them. Personally, I feel it is worth $25,000, but if they give me $23-24,000 I will take it for no hassle.

Can you give me more comparison based on your values?

Like you thought your car was worth X, they wanted to give you Y, you sold it for Z.

Sounds like you just need to go to Carmax to get a value and then decide if you think it's fair.

I've sold two cars to Carmax. Both above KBB suggested trade value... including an RX8 on it's second motor that needed Apex seals again. They didn't even drive the thing out of the parking lot and offered me almost private sale.

Carmax in my experience is a good way to move your problems... something else to keep in mind before ever buying there (I never will again).

[Tr6]

Instead of writing a hole paragraph. I'll keep it TL : DR (too lazy: didn't read).

- It's all about black book value (dealership's kbb).
- Even if you think your vehicle is in PERFECT condition, it is not.
- Dealerships only accept your trade in because they will make money on it, so if it's valued at 5k, they'll offer you 3k max.
- Very few dealerships will actually offer you same or above KBB value but most will not.
- Private Sale is ALWAYS higher than Trade in unless given the above point.

[GoldCartridgeGamer]

Carmax has always beat the dealers offer here. Once in a while the dealer will match or beat by $500.

[shaffe]

Originally Posted by Tr6

Instead of writing a hole paragraph. I'll keep it TL : DR (too lazy: didn't read).

- It's all about black book value (dealership's kbb).
- Even if you think your vehicle is in PERFECT condition, it is not.
- Dealerships only accept your trade in because they will make money on it, so if it's valued at 5k, they'll offer you 3k max.
- Very few dealerships will actually offer you same or above KBB value but most will not.
- Private Sale is ALWAYS higher than Trade in unless given the above point.

Originally Posted by Lgndryhr

Carmax has always beat the dealers offer here. Once in a while the dealer will match or beat by $500.

Those are good points, but also remember this.

Assuming since we are talking trade in values we are getting a new vehicle as well.

That you will pay less in sales tax on the new vehicle with the trade in vs selling to carmax. (at least that is how it works in Illinois