502 Street Scene Forums banner
1 - 20 of 59 Posts

·
pen15
Joined
·
14,597 Posts
Discussion Starter · #1 ·
i've heard that both carmax and sam swope dealers will buy cars outright without the car being a "trade in." then if it doesn't meet their inspections and what-not it just goes away to auction. is this true?
if it IS true, let's say i have a car that's worth about 3k NADA trade-in value. can i just take said car up to carmax or swope and sell it to them for somewhere near 3000 bucks? i could get quite a bit less than that (to a certain extent, of course) and it would be worth it to me just to get a quick sale.
 

·
smarter than you
Joined
·
12,705 Posts
from talking to my friends that sell cars at swope, they always tell me to just go to carmax, they give more money.
 

·
pen15
Joined
·
14,597 Posts
Discussion Starter · #3 ·
so i guess it's true and they do buy cars from someone who just drives up and says "hey, i wanna sell this car. buy it."?


i'm basically just getting a car as payment for the lots-o-labor i'm doing to the owner's primary car. 3k was just an example. so i wanna just take it to carmax and get rid of it asap.
 

·
smarter than you
Joined
·
12,705 Posts
yes, they do buy stuff, if they can flip the car. They don't use NADA though, they use a tool that shows what dealers are getting in auction for cars...so dont' expect huge amounts.
 

·
Bout to Bus
Joined
·
6,714 Posts
As you may know, I work at Carmax. It's not even if we can "flip" that car. All cars are appraised at true market value and the value is the same whether you're just selling the car outright or buying a car from us. This is a big variance between Carmax and Swope on that part. We genuinely will buy cars out right, where they blatantly give a low ball offer, just to say they offer that service.
 

·
Banned
Joined
·
1,862 Posts
from what i here they low ball the hell hell outta and then dont really give ya a choice, there was a guy on here quite a while back that had an 01 gti worth 8-9k blue book and they said that they wouldnt give him anything over 4.5k
 

·
pen15
Joined
·
14,597 Posts
Discussion Starter · #8 ·
ok, 98ex, so how is the "true market value" determined?

let's say the car i'd like to sell to carmax is a 93 rx7 in good condition with 110k miles with good tires, brakes, drivetrain, etc. (obviously just an example, as i'd never give my rx7 to these fuckers)
 

·
Assistant Regional Manager
Joined
·
4,909 Posts
It also depends on if the car is modded, IIRC. I think they will deduct the cost to replace the parts from what they will offer. i.e. You take them a 00 Civic Si with Rotas, instead of 8k, they will give you 6800, as Si wheels are ~$300/wheel from the dealer (just a ballpark example, obviously).

Just what I have gathered...I will let Simon clarify if I am wrong.
 

·
Bout to Bus
Joined
·
6,714 Posts
ok, 98ex, so how is the "true market value" determined?

let's say the car i'd like to sell to carmax is a 93 rx7 in good condition with 110k miles with good tires, brakes, drivetrain, etc. (obviously just an example, as i'd never give my rx7 to these fuckers)
Eh, on those it's hard to tell. It's not something that we see everyday and it's kind of a niche market. I'd say you'd probably get somewhere in the ballpark of what you're looking for, but it's hard to say given what it is and it being a 93. It would definitely be worth a shot. Just like you said, it would be a quick sale. You don't have to deal with the posting it on websites and such, no one's coming out to your house to test drive, blah blah blah....most often you're in and out in 1 to 1.5 hours.

It also depends on if the car is modded, IIRC. I think they will deduct the cost to replace the parts from what they will offer. i.e. You take them a 00 Civic Si with Rotas, instead of 8k, they will give you 6800, as Si wheels are ~$300/wheel from the dealer (just a ballpark example, obviously).

Just what I have gathered...I will let Simon clarify if I am wrong.
This is correct to an extent. The newer the year of the vehicle, the more that will affect the value. Obviously, if it's a car that will possibly go on the retail side, they're going to consider those things more, because it would realistically be things that have to be replaced. Using Jacob's example, a 93 RX-7, it won't affect value much because it's more than 10 years old, which we will not sell.
 

·
pen15
Joined
·
14,597 Posts
Discussion Starter · #11 ·
so carmax won't sell a car that's more than 10 years old? does that mean they wont BUY it? the car i'll be trying to sell is a 96
 

·
Bout to Bus
Joined
·
6,714 Posts
so carmax won't sell a car that's more than 10 years old? does that mean they wont BUY it? the car i'll be trying to sell is a 96
Yes, we will buy nearly anything, including cars older than 10 years. We just won't re-sell them.
 

·
has nice headlights
Joined
·
16,048 Posts
from what i here they low ball the hell hell outta and then dont really give ya a choice, there was a guy on here quite a while back that had an 01 gti worth 8-9k blue book and they said that they wouldnt give him anything over 4.5k
lol they offered me $3K for my sisters 06 Scion TC with 28K on it.
 

·
I'm back
Joined
·
2,929 Posts
I tried getting Carmax to buy my SRT when I had it. It was an 05 with 14k miles. They only offered 13,500 for it and said that the aftermarket turbo kit(actually stock) and intercooler hurt it's value. :rofl:
 

·
Registered
Joined
·
477 Posts
i've heard that both carmax and sam swope dealers will buy cars outright without the car being a "trade in." then if it doesn't meet their inspections and what-not it just goes away to auction. is this true?
if it IS true, let's say i have a car that's worth about 3k NADA trade-in value. can i just take said car up to carmax or swope and sell it to them for somewhere near 3000 bucks? i could get quite a bit less than that (to a certain extent, of course) and it would be worth it to me just to get a quick sale.
We bought the G35 at carmax, so we were already there. They offered me about $2500 for my 98 Accord. I put it on autotrader.com a few days later. It was GONE within 48 hours for $4150, and I think I could have gotten more. Carmax will buy your car, and it's just like you guessed-you won't be offered what you could get in the private party market, but you won't have to worry about listing, showing, cleaning, etc. Depending on the vehicle, it may or not be worth it. Take it up there and let them have a look. They don't even care if it's cleaned and ready to show or not. It'll take them about 30 minutes.
 

·
I piss excellence
Joined
·
1,655 Posts
hey Jacob, my name is Wes Henderson i work at Don Jacobs BMW/VW/HONDA in Lexington, Ky and our dealership will buy quality used cars as well. PM me info on the car or give me a call 5026800548 and i'd be glad to see if my managers would be interested in purchasing your vehicle.


thanks,

Wes Henderson
 

·
Administrator
Joined
·
10,475 Posts
Jacob you won't be able to do this at Carmax without a valid registration and the title. Obviously all in your name if you want to get paid.
 

·
Registered
Joined
·
2,021 Posts
My wife is actually in the purchasing department for Carmax. They will buy anything, but they will only give what the going rate is. That varies depending if it will go on the front lot or to wholesale. Also they don't sell anything on their front lot with after market parts so those parts are deductions.

Also don't forget that they are a business that must pay their employees, their bills, and still try to make a little money. They are going to give you less than private party, just the way it has to be. But they do offer you the opportunity to get a check in hand the day you take it in. It seems they offer more than anyone else though.
 
1 - 20 of 59 Posts
Top