I have a 2019 Kona Limited with one year remaining on the lease ($210/month). My dealer called out of the blue and wanted me to trade in for a new 2022 Kona because I’d have between “$2.5-$3K” in equity for a downpayment. My payoff amount is $19,070. Out of curiosity I checked the CarMax site and it quoted $24,444 to buy my Kona. My Kona has low miles ~7,600 and in pristine condition (thanks mostly to little driving during COVID). Does the CarMax offer seem to good to be true?
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Nah, that’s been how things have been going lately
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No, I just did one for my 2010 G37 and it was $900 higher than Carvana. I was kinda shocked.
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I was offered my highest quote yet from carmax this past week. It’s not going to last too long so start making a decision before the prices start dropping.
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If you see something you can’t resist, lock it in. Prices are very volatile now and can change on a daily basis. Carmax is good about honoring their quotes.
You have to take it into CarMax to verify your quote and condition report, but it should be the same if described correctly.
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Oh dear… they just offered me 15k less than a local BMW dealer that did an in-person inspection… weird times
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I think CarMax is only trying to get certain vehicles on inventory right now.
Example: my friend owns a 2020 Civic with 20,000 miles and Honda wants to give him close to MSRP for the car.
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While the price of your trade is worth more, so is the new car you’d be leasing. Prices for both have gone up.
Somehow I don’t think you are going to save any money.
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That’s not necessarily true. There’s plenty of vehicles out there that still have a ton of rebates and dealer discounts available.
Not necessarily true but mostly true.
There’s the cars with the big discounts and rebates and then theres the cars that you actually want to drive.
Not necessarily true but mostly true.
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Different strokes for different folks. My guess is that since he has a Hyundai Kona he’s probably not looking to get into an M3 or similar vehicles the shortage is really effecting. He can actually pick up a brand new Hyundai Kona Limited for about $22-23k. (That’s $5-6k off sticker price)
So Carmax will give him $24.4k for his 2019 model. And the new model can be had for $22-23k ?
Something isn’t quite right here
It’s called a crazy used car market. Vroom just gave me $25.2k for a new vehicle I bought 4 months ago for $21k and I can go out and buy another brand new identical vehicle for about $23k.
I am looking to lease the new 2022 Kona and hoping with down payment and some discounts that it’ll still be in my current payment range of $219 a month.
What pre-incentive discount would be required to get you to that price point?
The Kona Limited lists for $31,355 and I’m hoping to get it down to $29,355 or so. Maybe that unrealistic.
Not sure how far you are from Gurnee IL but these guys seem to be discounting their vehicles quite a bit. The listed prices probably include any rebates for a purchase (instead of lease) so that would have to be adjusted but you may want to reach out to them.
Thanks for the heads up. All of those dealers are close to me.