I’ve just finalized the purchase of my leased 2018 BMW M3 ZCP and looking to sell the car to whoever pays the most. I’ve been looking around trying to see if different CarMax locations throughout southern California pay differently based on their location, inventory, etc. and can’t really find much. So, I was just wondering if anyone on here had any clues or ideas…
PS. when I go on their website to get a quick estimate, it says the car is too rare and that I’d have to go to one of their stores.
which? none, they try to keep to the same model. Some inspectors will give a variance but Carmax ships their cars everywhere.
Why not go to any of the other online guys and see who will give you the most?
Vroom and Carvana are on my list, but who are the other guys?
try autonation toyota. they seem to offer alot. 2k over what carmax willing to give for my 540i
All locations should pay the same since everything is just determined by software. I noticed Vroom pays a little more for M’s and showmethevin was the highest for my M4 when I was looking. CarMax and Carvana do not seem to have much interest in sports cars and hit them low.
FYI
By buying the car you’ve just lost the tax paid on the cost of the buyout that you will not get back when selling. See CA DMV thread.
Yeah, I just realized the process isn’t as finalized as I thought it was. The certificate of title I received from BMW financial isn’t the “real title”…I was able to setup a DMV appointment for first thing Monday morning to go in there and get the ball rolling. I wonder if it’s faster to handle the paperwork online or to go to their office.
I’ll pay the sales tax if I have to and will hopefully get it back once I sell the car within 10 days. My registration is valid till mid February, and I’m hoping I won’t have to pay the $650 for that.
As the person above you stated. Once you buy the lease, you would pay the taxes. It would be difficult to get these taxes back from CA.
More details:
Why don’t you directly sell your leased vehicle to a third party and pocket the profit?
I called CarMax and explain the whole situation to them; they wouldn’t buy the car without the DMV title. Do you think other dealers are more accommodating?
Anyone that will accept a lessor-released title will buy your car now. Though the more unique your car is, the higher the likelihood they will just turn around and auction it off (rather than selling it in their own lot), thus the lower offers.
Most dealers will not purchase with just a lessor released title.
Out of nothing but sheer curiosity, would you be willing to share the offers you’re seeing for your M3 and mileage?
I am curious myself as I sold my last F80 outright this past summer due to the market and am wondering where it’s hovering currently.
I ended up going to DMV to request the title. They charged sales tax and the registration fee since that will expire in 2 weeks.
I’ve got around 25K miles on it and the offers hover around $60k.
I sent you information about MyCarAuction. Hope you at least tried it since it may have saved you the couple steps in paying tax first.
Cool thanks for sharing. The offers from online services sound lower than what I was seeing, as does the private market (I still follow).
As a data point, back in June I sold my ‘18 F80 privately with 48k for $59.5k. Best of luck!
Sadly just sold my car. The highest offer I got was from Driveway.com at around $60-65k, but their website is junk and didn’t let me schedule an appointment. When I finally was able to get a hold of someone to schedule an appointment, they set me up for 2/28. Went ahead and found a local dealer that was also owned by Lithia that offered me a price somewhat close to it, and I sold it on the spot.
But @anique, thank you so much for linking all those sites or I would have settled for high 50’s and would have gone negative with this adventure.
Congrats and good move. Whats next?
Thanks. I kind of regret not keeping it, but life goes on. I leased an M340 last month, so that’s it for now. I’m hoping to do whatever it takes to get back the sales tax if I can. I hear some people have had success doing that by filling out some forms.
Its always bittersweet. I had 2 F80s and miss them sometimes as well, but removing emotion from the process is key. Otherwise you’ll dig yourself a hole real quick (so I’ve learned).
Capitalizing on the current demand was the smart move and the M340 is a great compromise. Best of luck with sales tax…that’s always an uphill battle.