Anyone sold their car to Carmax?

bb1857 · 03-28-2017, 07:12 AM

While I also agree that it is worth it to at least get a quote that you can use for leverage with your dealer you have to understand your states tax laws. Many states you are only taxed on the difference of the amount of the trade and new car. So if your trade is worth 30k and your new is 75k you are paying tax on 45k versus the entire sale amount. That can add up to a pretty big difference so I would do your due diligence and figure out which way is best after you get all your numbers.

saleen556 · 03-28-2017, 07:44 AM

Quote:

Originally Posted by bb1857

While I also agree that it is worth it to at least get a quote that you can use for leverage with your dealer you have to understand your states tax laws. Many states you are only taxed on the difference of the amount of the trade and new car. So if your trade is worth 30k and your new is 75k you are paying tax on 45k versus the entire sale amount. That can add up to a pretty big difference so I would do your due diligence and figure out which way is best after you get all your numbers.

Fortunately no sales tax here in Oregon so not an issue. I may have to take a loss for a quick sale. Only have until April 13th to get an order in for a 17 corvette. Have to get rid of the M3 before I order.

bb1857 · 03-28-2017, 07:46 AM

Quote:

Originally Posted by saleen556

Fortunately no sales tax here in Oregon so not an issue. I may have to take a loss for a quick sale. Only have until April 13th to get an order in for a 17 corvette. Have to get rid of the M3 before I order.

Well that doesnt suck!!

katit · 03-28-2017, 10:34 AM

Quote:

Originally Posted by bb1857

While I also agree that it is worth it to at least get a quote that you can use for leverage with your dealer you have to understand your states tax laws. Many states you are only taxed on the difference of the amount of the trade and new car. So if your trade is worth 30k and your new is 75k you are paying tax on 45k versus the entire sale amount. That can add up to a pretty big difference so I would do your due diligence and figure out which way is best after you get all your numbers.

In our state it doesn't matter, I can claim difference even after purchase

NickBoz · 03-28-2017, 01:28 PM

CarMax usually under appraises my car, this could be because I am located in SoCal? But that would confuse me because the car market here is very strong. If I want to trade in a car I usually just take it to the dealer, unless I am buying my next car privately.

From different friend of mine who have sold cars to them, I hear either they got high kbb or under kbb offers, but so far nothing above. (Cars with no exterior mods)

Guess it depends on how aggressive the market is in your area...

bimmer456 · 03-28-2017, 01:30 PM

Usually their offers are on the low side. Better off listing it on Auto Trader.

ChuckAWDM2 · 03-28-2017, 02:11 PM

I will never go back to CarMax, The offer in my area was an insult.

mercedesc63 · 03-29-2017, 02:31 AM

Quote:

Originally Posted by saleen556

Are they pretty straightforward? Do they basically offer BB?

Any dealership run by AutoNation will offer more than CarMax.

I would shoot for 2-3GS over CarMaxs offer.

Try a few BMW dealers also (other than the AutoNation one).

Never_Enough · 03-30-2017, 03:10 PM

I did many years ago only because I had to (bs with an ex) They gave too little for it. F Carmax

RickFLM4 · 03-30-2017, 04:21 PM

Quote:

Originally Posted by mercedesc63

Any dealership run by AutoNation will offer more than CarMax.

I would shoot for 2-3GS over CarMaxs offer.

Try a few BMW dealers also (other than the AutoNation one).

Will any AutoNation dealer buy your car if you aren't buying a car from them?

damnitBobby · 03-30-2017, 05:46 PM

I sold my previous '09 Mercedes S550 to Carmax. They gave me about $3,500 more than the dealership. It took about 2 hours all said and done.

I found it rather convenient. I'm sure I could have gotten a little more through private party, but that's just another hassle to deal with. Sometimes things aren't worth the time.

saleen556 · 03-30-2017, 06:14 PM

Quote:

Originally Posted by damnitBobby

I sold my previous '09 Mercedes S550 to Carmax. They gave me about $3,500 more than the dealership. It took about 2 hours all said and done.

I found it rather convenient. I'm sure I could have gotten a little more through private party, but that's just another hassle to deal with. Sometimes things aren't worth the time.

Seems like it depends on location. I'm all about the convenience for a few grand less.

mercedesc63 · 03-30-2017, 08:03 PM

Quote:

Originally Posted by RickFLM4

Quote:

Originally Posted by mercedesc63

Any dealership run by AutoNation will offer more than CarMax.

I would shoot for 2-3GS over CarMaxs offer.

Try a few BMW dealers also (other than the AutoNation one).

Will any AutoNation dealer buy your car if you aren't buying a car from them?

Yes

saleen556 · 03-30-2017, 10:06 PM

So got offered 56k. Was told it's got to many options and hard to sell. Guess I'm going to have to keep it awhile longer.

03-28-2017, 07:12 AM	#23
bb1857 Major 869 Rep 1,412 Posts Drives: 2020 X3MC Join Date: Jan 2016 Location: Sykesville, MD iTrader: (1) Garage List 2007 BMW 335 E92 [0.00] 2015 BMW 428GC [0.00] 2014 BMW 535i [0.00]	While I also agree that it is worth it to at least get a quote that you can use for leverage with your dealer you have to understand your states tax laws. Many states you are only taxed on the difference of the amount of the trade and new car. So if your trade is worth 30k and your new is 75k you are paying tax on 45k versus the entire sale amount. That can add up to a pretty big difference so I would do your due diligence and figure out which way is best after you get all your numbers.
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03-28-2017, 01:28 PM	#27
NickBoz Private 44 Rep 85 Posts Drives: M4 GTS Alpine White Join Date: Feb 2017 Location: Southern California iTrader: (0)	CarMax usually under appraises my car, this could be because I am located in SoCal? But that would confuse me because the car market here is very strong. If I want to trade in a car I usually just take it to the dealer, unless I am buying my next car privately. From different friend of mine who have sold cars to them, I hear either they got high kbb or under kbb offers, but so far nothing above. (Cars with no exterior mods) Guess it depends on how aggressive the market is in your area... __________________ 2022 BMW M4 Comp 2021 MBZ AMG E63s Wagon 2020 Porsche 911 C2S
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03-28-2017, 01:30 PM	#28
bimmer456 Major General 3066 Rep 6,089 Posts Drives: 340i Join Date: Nov 2016 Location: Pasadena, CA iTrader: (0)	Usually their offers are on the low side. Better off listing it on Auto Trader.
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03-28-2017, 02:11 PM	#29
ChuckAWDM2 Lieutenant 176 Rep 442 Posts Drives: 2024 M240ix Join Date: Aug 2014 Location: Salt Lake City, Utah iTrader: (2)	I will never go back to CarMax, The offer in my area was an insult. __________________ 2024 ///M240ix \|
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03-30-2017, 03:10 PM	#31
Never_Enough Banned 2225 Rep 2,476 Posts Drives: Satan's Chariot 2.0 Join Date: Sep 2013 Location: PA iTrader: (6) Garage List 2018 Charger Hellcat [0.00]	I did many years ago only because I had to (bs with an ex) They gave too little for it. F Carmax
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03-30-2017, 05:46 PM	#33
damnitBobby Major 1003 Rep 1,374 Posts Drives: 2018 M3 ZCP Join Date: Jan 2014 Location: Houston iTrader: (0)	I sold my previous '09 Mercedes S550 to Carmax. They gave me about $3,500 more than the dealership. It took about 2 hours all said and done. I found it rather convenient. I'm sure I could have gotten a little more through private party, but that's just another hassle to deal with. Sometimes things aren't worth the time.
	Appreciate 0 Quote

03-30-2017, 10:06 PM	#36
saleen556 Captain 234 Rep 687 Posts Drives: 2016 M3 Join Date: Sep 2015 Location: PORTLAND OR iTrader: (1)	So got offered 56k. Was told it's got to many options and hard to sell. Guess I'm going to have to keep it awhile longer.
	Appreciate 0 Quote