Is it better to trade in a car or sell to carmax

While a private sale can be a hassle, it often means getting more money for your car. However, it really depends on what you have and your local tax rates that determine the most lucrative path. Be sure to check your local tax code to see how your trade will impact your taxable purchase. If there is no sales tax in your area lucky you! If you are trading something lightly used, chances are you will make more money if you sell it private party, via Craigslist or eBay or some other method. I suggest you get a number from your dealership first so you can decide whether or not those private party offers are worth your time.

Get Top Dollar for Your Trade-In

What worked for one person may not be the same for you and you have a week to take CarMax up on their offer. The line between a trade and a purchase is a little blurry in a mixed transaction. The dealer may offer you more for your trade but only by padding the sale transaction, the inverse is true as welll They may do neither.

It's been nearly 10 years but I traded a car into car max and it was super easy. I got a quote which was good for a week and then was able to compare that to the trade in offer. In my state there was some sales tax savings from going with trade in but car max was still a better deal. The used car dealership where I bought my car didn't really want the trade in though I was able to sell it myself for more. Worked out great for us. Don't forget to take taxes into consideration.

Here the trade in value is subtracted from the purchase price to determine taxable value on the the new car. It really depends on their inventory and what they think they can make off the vehicle In my area, dealers are very brand agnostic because there is a strong market for cheap used cars.

The dealer will most likely offer a lower price than Carmax. The dealer tends to be closer to wholesale than Carmax. We sold a car to Carmax and it was incredibly easy. I think the whole process was less than an hour. We would have gotten significantly more private sale but did not want to deal with it.

We were happy with price compared to a dealer. High demand vehicles will command the best price. We went to CarMax with our Honda Pilot after speaking to a dealer. We took the CarMax offer to a different dealership the first was full of jackasses who agreed to match the offer.

We also got a sales tax reduction that way for the value of the trade-in. Doesn't hurt to bring the vehicle to CarMax. If they want it, they'll give you a written offer that's good for 7 days. BabyCenter aims to share products and services we hope you'll find interesting and helpful.

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With thousands of award-winning articles and community groups , you can track your pregnancy and baby's growth, get answers to your toughest questions, and connect with moms, dads, and expectant parents just like you. Join now to personalize. Family Finances. Trade it in at the dealer when I buy 2. Sell to CarMax We don't need to keep it, and I don't have the energy to sell it myself.

If you've gotten offers for both trade-in and from CarMax, how did they compare? I've usually traded in and once sold to CarMax, but never got quotes from both. Price out both options.

The only way to know is to price out all of your options at a couple of dealerships. CarMax gave me what I thought was a low offer. We just sold my DH's car to Carmax and got way more than local dealerships offered for it. CarMax's offer will depend on their inventory, and what moves quickly at a high profit margin. This thread is napping. This inactive post may not receive community feedback. We recommend you begin a new post. In Reply to FunMoonMoon x. More posts in "Family Finances" group.

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If the dealer insists on low-balling you, you can always just sell the car to CarMax. Kelley Blue Book also offers an online service where you can. When you trade in your vehicle at other dealerships, you can't be sure.

Some forums can only be seen by registered members. Has anyone had any experience selling a car to a dealership vs. I'm not looking to buy a new car, just sell a second car that we don't use. I could also place an ad on craiglist, etc. Originally Posted by NakedApe.

My wife and I are looking for a more family friendly vehicle, and we will need to get rid of one of our current vehicles when we buy a new one.

They try to buy at low wholesale and sell at the top retail price. Trading in a car also complicates the purchase of a new car, giving the dealer an opening to inject more profit into the deal by low-balling your car. It means advertising the vehicle, letting strangers drive it, negotiating the price and sometimes accepting thousands in cash.

If you must trade in your car, here’s how to get the most for it

What worked for one person may not be the same for you and you have a week to take CarMax up on their offer. The line between a trade and a purchase is a little blurry in a mixed transaction. The dealer may offer you more for your trade but only by padding the sale transaction, the inverse is true as welll They may do neither. It's been nearly 10 years but I traded a car into car max and it was super easy.

Selling car to CarMax vs trading in - experiences?

This post will examine CarMax and help you decide if selling your vehicle to CarMax is best for you! The company also purchases a wide range of vehicles from others. Additionally, CarMax will also identify any major issues with your vehicle, that could potentially hurt or impact the amount of money you can get for it. As CarMax has folks who get great money for their car as well as others who wish they had gotten more, there are some ways you can get good money for your car. This is requirement that CarMax enforces when buying cars or accepting vehicle trade-ins. Once you have the vehicle and all other requirements met to sell your vehicle, CarMax will generally purchase just about any vehicle, even cars with salvage titles! As we stated earlier, CarMax needs a car title. But you may be able to sell your car as junk or scrap. Those cars with , miles or higher will go to a used car auction, where other dealers or car enthusiasts may buy them at deeply discounted prices.

Over the years, a great car can become more than just an appliance. Even someone driving a simple, affordable, and reliable Toyota Corolla risks developing an emotional bond with their car.

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Selling Your Car To CarMax – Is It A Good Idea?

Privacy Terms. Time: 0. Quick links. Selling Car - Private Sale vs CarMax vs Dealer Questions on how we spend our money and our time - consumer goods and services, home and vehicle, leisure and recreational activities. What was your preferred method? My girlfriend and I have 2 cars that we need to sell as we are moving to NY this summer. There seems to be a few thousand dollar difference between a private sale and selling to a dealer. I am assuming CarMax would fall somewhere between the two. Because there are loans on the car we do not have the titles. We have the ability to draw down our savings to payoff the loans if it will make selling easier with the title in hand.

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Selling your vehicle to CarMax, the national used car retailer, can be quick and easy. Make sure you find and write down the trade-in value for reference later. Check the store locator to see if there is a CarMax near you. Each store has a team of appraisers that will inspect your car and give you a non-negotiable written offer for the trade-in value that is good for seven days. A CarMax salesperson will greet you at the store. Tell them you are considering selling your car to them and want an appraisal. The salesperson will take your car keys and hand them over to the appraisers.