Sold one to CarMax

Sold my 2020 Nissan Rogue, Exc. cond. 8000 miles, to Carmax - Edison NJ location. They were about $125 lower than my highest online offer, but I didn’t want to go through the hassle that I have read about and a possible month-long process.
Very quick and easy - didn’t vary on the estimate. Cut me a check and out the door in about 40 minutes. Recommended.

2 Likes

Sadly the end of 2 yr one-pay lease and 12 months of extension on my 2020 Toyota Tacoma TRD O/R came to an end tonight:

Original Lease: $7,477
Extensions: $4,200 ( I never got a straight answer as to why it jumped however they said going from one pay to monthly recalc’ed the taxes and how they were paid. )

Carmax: $37,400
RV: $32,795.04
Equity: $4,604.95

Checked with all the usual places. Original dealer was within $400 and next closest was Autonation at $35,500. For the TCO it was a great midsize truck for the last 3 years. Many thanks to this forum for aggregating all these data points. Cheers!

5 Likes

How long does CarMax typically take to payoff the leasing company? It’s been over a month after I sold them my Jeep 4Xe and they still haven’t paid off the leasing co.

Call ccap directly
It doesn’t reflect online for a while

It was sold on 11/28 and Toyota FS received the check on 12/5 and it showed as a closed account on 12/8. Carmax told me the most it could take would be 15 days. While I was conducting the transaction at CarMax I saw the FedEx guy come in and pick up a stack full of outgoing envelopes that I imagine were payoff checks, etc…

If CCAP is different and doesn’t post online like @drdvrgs mentioned I would just call CCAP.

What vehicle did you sell them?

taco GIF

4 Likes

2020 Tacoma. Details are about 4 posts up.

How intense is the selling appointment at Carmax? I sold to Carvana a few years ago and it took less than five minutes vs I sold two we buy any car last summer and it took over an hour and they checked every single inch.

At the end of November the Carmax I sold the taco too was about 45 minutes in total. Someone does come out and look over it but it wasn’t heavily scrutinized. It’s a pretty subjective question though….it’ll depend on how many people are working that day & how many people also have appointments plus the need to get your lessor or lender on the phone if needed. They had to get TFS on the phone to confirm payoff, etc…we’re unwilling to take my print out.

1 Like

Definitely make an appointment. If it is busy it can take an hour or two. Make sure not to go on a weekend or holiday as the leasing company most likely will be closed and can’t give verbal payoff.

2 Likes

My relatives just sold their 2020 Hyundai Kona lease with repaired damage to the rear (from a fallen during a hurricane tree). The first time they went, the salesperson pulled the lessee payoff and refused to call Hyundai to get the dealer payoff. His manager was as useless. The difference in sales tax was $1,500. They went to same store again today, after confirming with Hyundai that they sell to the third parties at the dealer payoff. Luckily, they got a “normal” salesperson who just pulled the dealer payoff and cut them a check for $3,170 equity.
Carmax was the highest by $3-4,000 over vroom, carvana, driveway, autonation so I told my relatives to jump on that offer and see it through.

1 Like

Sold one yesterday. Highest bid compared to carvana, autonation, vroom, BMW dealer, and driveway. Spread was 18-22k with the dealer the lowest. Had it all nicely cleaned and emptied out and all paperwork handy. Set an appointment and I was driving home with the check cashed via mobile deposit within 1 hour. They did a walk around and a quick test drive and the rest of the time was paperwork and removing tags/plates. Full offer but heard others nearby getting reduced offers.

Wait till that guy gets in trouble because Hyundai won’t release the title for 90 days…:slight_smile:

Not our problem lol

Anyone here done a pick up from carmax before? I’m selling my car to them and they’re coming to pick it up. Just wanted to know what to expect.

Sold my 2022 Bolt to Carmax today, by far the highest bidder, loaded 2LT with just under 10k miles, $28,500. Nets me about $6250 after my payoff, didn’t even make the first payment on that loan :joy:, just bought the lease out the end of January. Did a SOC last summer from my 2020, so all said and done GM paid me about $1400 to drive two Bolts over 42k miles.

EDIT: Forgot I got $2135 back from GM for the swap, so $3535 to drive 42k miles :joy:

16 Likes

What a hack!

Few days ago we sold Infiniti Q50S AWD with $39k miles to our local CarMax for $23,600. Initial quote was for $23,000, but they came higher after they saw the car, even thought we had a fender damage that required $500-600 of repairs. They said that this car was flagged as in high demand in their system.

1 Like

I bought this 2022 Toyota Corolla LE as brand new last May at MSRP($22700+TT&L) because i had no car to drive after i totaled my BMW lease and couldn’t find any suitable replacement as market being crazy back then.

Finally found a great lease deal on Porsche Macan loaner last week and signed this Monday.

Just out of curiosity, ran a online carmax appraisal and received the online offer of $23500… which is kinda crazy because Toyota dealer is selling brand new Corolla at MSRP($23200+TT&L).
So i just sold it today. Feels good to having a great temporary ride at net cost of $950 for 15k miles.

10 Likes