Sold one to CarMax

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195

Both the fee of 350 and the sales tax on it are included in the payoff you get from that site. I sold my Accord to CarMax on 4/17 so I had my doubts too when my account showed the fee and the tax on it itemized in my payment history when they received payment from CarMax. However, I owe nothing now.

You could work backwards from the dealer payoff to get your base payment and verify your personal payoff in the HFS account too.

(Dealer payoff - residual value - disposition fee of 350 - sales tax on disposition fee)/number of payments left = base payment.

(Residual value + number of payments left * base payment from above)*(1+sales tax in %/100) = Your current payoff

196

Or you could just look at your lease contract for the base payment

Or you could look at your Honda financial account for you personal payoff

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197

Has anyone been able to get Carmax to increase their quote to match vroom or carvana?

198

I asked carvana. They said they wouldn’t match it and suggested to get a revised quote when the current one expires.

199

what was the difference between the dealer payoff and your payoff if you recall? I’m looking to sell my accord lease.

200

Yesterday, I sold my 2020 Honda Civic EX.

My personal pay off was $18,6XX
My dealer payoff was $19,059.81
CarMax offered $24,600.

I got a check for $5,540.19.

I only had the car for 18 months, and my payments were $265 incl. tax. For the 18 months, I paid $4,770.

So my overall net profit was $770.19, I feel as though I did pretty good. Especially considering when I leased the car, I didn’t get much of a hack on it, it was a pretty average deal. I also have some leeway into getting another car and honestly might just buy a used coupe as I have been itching for that, even though they are the most inconvenient as it comes to hauling people or cargo and selling it a year down the line, while I know that markets are not going to be the same, I am fine with losing a little and do have a bit of time to find a coupe that I want to drive.

My first CarMax offer was $24,200, then increased to $24,400. The day I went to sell the car, I re-did my quote and got $24,600.

Keep in mind that the MSRP was around $24,600. The car had 9,155 miles on it the day I sold it.

And I did compare to other sites such as Carvana and Shift and Vroom, etc, and got offers around the $21-22k range.

201

Curious, how long after the sale of your car to carmax did your vehicle go up for sale on their site?

202

About 10 days later but is ‘coming soon’ as they haven’t gotten the title yet

https://www.carmax.com/car/20007926

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203

Thanks. Helped a friend unload an F-pace last week and was curious what they will list it for.

204

Sold for 24 even, listed for 27999, 600 over my CAP on Dec 15 2018 :astonished:

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205

I have an appointment with carmax today for my 2018 Honda Accord. Offer is 24,400 and my pay off is 16700. I expect the offer to go down a bit because I have a cracked windshield.

My question is, if I’m getting another Honda, would it be better to get my new lease using any possible loyalty incentives prior to selling my current one to CarMax?

206

Last month I sold my 2018 Honda Accord Sport & pulled out 4K profit yesterday I got another 2021 Honda Accord Sport for time being till market stables.
I got loyalty on new Honda also

207

Hell yea that’s awesome. Thanks for your reply. How do they determine loyalty? I thought you have to own one currently to qualify

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208

Buyers purchasing used Honda’s appear to be some the laziest or uneducated consumers out there based on what I’m reading.

Every scam artist in the world would love to get their hands on that list!

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209

I gave them copy of my registration

210

My Jeep is already on their website for just under $26,880 ($1,600 more than what they’re paying me). Interesting they’d list it because they haven’t even picked it up yet.

Btw: The same vehicle (2021 model instead of 2020) can be bought brand new for $23,990 (advertised price). Yet they’re selling a used one for almost $3k more. LOL!

211

Even though you sold it to carmax they gave you honda loyalty? $1000?

212

From my experience, all they ask for is the current valid registration or insurance card.

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213

Yeah because you have Registeration

214

I think there is a 30 or 90 day leeway for current owners for loyalty. Either way, if you sell the car, keep the registration paper showing that you have a Honda. They don’t call the DMV to verify.