Got an online appraisal from Edmunds.com. I think they’re linked to CarMax now. Took my car to Carmax a couple of days later and their appraisal at their location was the same as online. So for those of you who have a Carmax that is far, just do the online appraisal - should be the same/similar.
Saw this in their lobby as of 2/16/22: looks like they added US Bank and Ally to the no bueno list.
I’m sitting in CarMax right now as I’m selling my Grand Cherokee. Offer was for $39k and my payoff is $28k.
I had to drive 80 miles to sell mine though as there isn’t any CarMax’s currently in NY. Worth it.
And an Uber ride back cost your equity check…J/K. Congrats.
Thank you. Hahaha thankfully there’s plenty of trains here.
I sold my leased lexus NX300 to carmax.
Sold price: 46000
Payoff: 37400
Check that I walked off with: $8600
Money I spent on this car: 5500 (including 500 broker fee, 1700 shipping).
So I made a profit of USD 3100.
The car has a MSRP of 45400.
I leased in Aug 2021, I have driven for 3300 miles.
I don’t like the car after driving it for 8 month. (F sport trim seats are not comfortable, gas mileage is close to 19MPG, cargo space is 30% less than a RAV4).
I am pretty glad to have this chance to exit.
The best offer I got elsewhere is only 41500 from Vroom. Carvana only offered 39xxx.
So people in WA, checkout the carmax near you if you want to sell a car!
I wanted to know if anyone is seeing a decrease in Carmax offers the more times you look for a quote. I am selling my Volvo S60 but waiting for a new car to arrive.
Initial quote was $34,000, I wanted to check in on it to see if that is still the case a few months later and the third time I put it in, the offer is reduced to $31,000.
Is this a similar situation to looking for airline tickets, the more you look the worse the deal? Or is the value just reducing over time. Thanks for any insight!
The demand for any specific car at any specific time can change drastically over a few months. A few months ago- Carmax may have needed more Volvo S60 and now they don’t, or just in general there could be a decrease in price as the car is older and possibly has more miles. I have seen a swing of +/- 2k in about a week and different zip codes etc. you can keep trying there is no limit, just bring in a print out of the highest offer. Try different zip codes as the Carmax offer is good at any Carmax in the US. maybe there is more interest in an S60 on south Florida vs say Montana for example. Just don’t bring the car in for an in person appraisal as that somehow locks in a price and from that point forward if you do an online appraisal it will tell you that you have to bring the car in in person.
Has anyone tried to play buyers off against each other given the demand?
I have a 2018 Camry LE – 42 months old but only 30K miles and 2 months to maturity.
Offers have been in a tight range between $19,800 to $21,400.
Was it leased with Toyota finance? Just wondering because I was told that their lease cannot be sold to 3rd parties.
Sold mine odyssey 2 months ago to Honda. Their offer was better than carvana and Toyota. . Payoff was 28k they offered me 34k. Carnava and Toyota offered 32 PLUS TIRES. Ended up accepting honda’s offer.
Depending on the car you have they might be able to bay it from you
Suckers bought my 2020 Volvo S60 T5 with 12k miles for $32k on an original MSRP of 41k. Bought out - paid tax - resold, came out ahead in spades. Confirmed it’s my car via pin striping from orig. dealer and VIN. For some reason, they’re listing at 13k miles even though it had 11.9k when we dropped it off.
no longer my problem
Sounds like someone bought it, drove it to vegas and returned it.
Their problem now!
Someone bought the car, then read on LH that it was driven by a 17 yo Hershey and returned it.
30 day return policy I wonder how much abuse it gets 
I figure I’d post an update from my earlier post.
Initial offer for our 2018 Mazda CX-5 Sport w/ around 20K was for $22K. We had to purchase the vehicle from Chase Financial so that CarMax could purchase from us which was a bit of hassle (trip to DMV, USPS, Chase and 2-week wait for title). During that time I wetsanded the hood - vehicle was in an accident and the repaint was a bit dull - to bring back the depth and clarity in the paint as well as correct a few other small issues. We went back and they offered us $25K! Buyout price was around $15.5K. All was great but now we’re in the market for another vehicle and it’s looking so bleak out there.
I have a 2018 NX300 F Sport lease ending in June with 38,000 miles on it. My buyout from Lexus is $25000 and Carmax is offering me a little over $32000 for the car. Carvana offered $28865.
I am nervous as I’ve never done this before. I normally just go right back to Lexus and get into a new lease however I would be a fool to not take advantage of the market for used cars right now. I am in Long Island (Nassau), NY so the drive is a bit farther to get to Carmax in PA but I’m willing.
Is there anything I am missing? I basically just go there with my car, they look it offer and confirm the quote then send the payout to Lexus Financial Services and hand me the difference in a check?
Yep, carmax offers are pretty legit as long as there’s no damage you didn’t disclose online. Bring it in and they’ll give you a check for the equity on the spot.
Make sure you get a couple more offers first, Driveway, Autonation, etc
You can try carmax in CT vs driving to PA. Will be closer.
Thank you! CT is definitely closer so I’ll go there instead. I’ll report back after the deal is done.
