Lease is up in December. But every once in a while I run the Carmax offers. Here is the past 6 months. (buyout 26k). I’m still putting miles on it, but the numbers have still been solid.
Out of curiosity, why are you only running carmax offers? There are plenty of other online places to sell a car to, and many of them are consistently higher than carmax’s offers.
Which state are you in? Carmax is starting to offer good money in the northeast, recently talked to the CEO, Bill Nash, and he wants to add a few stores. They just opened a store in NJ, their biggest cross-functional store in the northeast so need inventory
Carmax used to be terrible pre-pandemic, but now consistently seems to be highest in the Northeast, especially for my Kia Forte. They’re basically offering MSRP from 2019 for a car that was almost totaled and had 10k of repairs.
I did tell them (and wouldn’t they see it anyway). I almost fell out of my chair when I saw their offer. 6k equity on a $19,000 car. Alas, my daughter doesn’t want to give up her car yet - it’s her equity.
Carmax displays free Autochek reports for every vehicle they sell. Some accidents show up on Carfax but not Autochek and Vice versa. I don’t know about the specific vehicle in question but my guess is the accident doesn’t show up on AutoChek.
That specific history report is most important to them, since that’s what buyers see. Most buyers aren’t going to pay more for an extra car fax report.
P.S. @johandkoh your daughter could sell the car and buy a new Forte.
Well it’s a lease, and she only needs it for a few more months until she’s done with college. But yeah - I keep urging her to take the money while she can. Kids. They never listen no matter how old they are
Who knows - maybe the equity will still be there in the fall.
Online offers are based on recent appraisals of similar cars, and we haven’t seen many like yours lately. For your 7-day offer, stop by your local CarMax