Has anyone sold their GT to Carmax or similar?

[PJR202]

Looking to sell my 16 base GT Performance pack with 54k miles and would like to get most of my equity out of it. I owe money on it but as best I can tell at an average final sale price I'm about 6k or possibly more ahead. I would love to clear something like 5k but it looks like a private sale in my state would be kind of a hassle. Among other things. I'm 2 hours from the credit union I financed from.

I was thinking about settling for a bit less by selling to carmax. I know each car will vary a bit but has anyone here with similar specs sold to carmax? I'm 2.5 hours from the nearest location and would like to have a general idea of what I might be offered before I make the trip.

Thanks

Sponsored

 

[Zay]

Ive sold a car to CarMax, the process was pretty quick, but I didn't have loan out on it, they appraised it, I accepted their offer gave them the title and they gave me a check, and I went on my way.

 

[DuRsT]

For a good idea as to what Carmax would offer, you can go here and they will make you a live offer without a lot of fuss.

https://www.givemethevin.com/

 

[1004ron]

When I sold my wife's Mini Cooper I found the price was a little above what most folks could afford to pay cash, and a friend at work had his daughter apply for finance and it was declined.

I had Carvana contact me, they scan Craigslist, and their offer was a good deal lower than what I eventually got from a cash buyer.

https://www.carvana.com/

 

[thehunterooo]

If it is stock then I would at least see what they would offer.

 

[1004ron]

If it is stock then I would at least see what they would offer.

Many folks, myself included, avoid performance modified vehicles, and I learn't with my Harley that you get nothing for "nice to have" extras when its time to sell.

 

[PJR202]

I mostly would avoid them too. My only mod is a catback system, which I'm considering returning to stock. I never got a tune or CAI or even removed the sound tube.

 

[MidwayJ]

I once compared CarMax to what I had been offered for trade and it was $100 more on a vehicle worth about $10,000. So I view it as a way to get trade-in value without buying a new car.

 

[DickR]

I once compared CarMax to what I had been offered for trade and it was $100 more on a vehicle worth about $10,000. So I view it as a way to get trade-in value without buying a new car.

FYI in at least some states which have a "sales" tax on vehicle sales like NC the taxable amount is lowered by the trade-in amount. Just something to keep in mind if relevant in your state. FYI in NC the vehicle "sales" tax rate is much less than the normal sales tax rate but at today's car prices it is still significant.

 

[moosestang]

I planned to order my 18, so I couldn't get any dealers to commit to a trade in price as the car could be damaged before the new one arrived. I finally got a dealer to give me a price on trade in, but came right out and said to take it to car max before bringing back for the trade and he would match their offer if it was better. He honored that offer, and I got an extra grand for my effort. Worth it as a negotiation tool if you don't want to sell it yourself.

 

[DmanDmythDlegend]

Alot of dealers will beat carmax offers, so its usually a good place to start especially if you're trading in to get another car

 

[Anthony 05 GT]

On a trade you get to deduct a lot of sales tax from the new loan in most states so keep that in mind. I just traded my '15, they gave me 28k for it and I was able to deduct almost $1800 do to the equity.

 

[ValidusTalon]

I have used them to establish a base price for my area on a vehicle I was debating on selling. The number I got from CarMax was enough to make it worth it to me (I owned the vehicle outright). With that in hand I offered is up locally and a private buyer gave more so it went to him. Had that not worked out I knew I would be able to just go back to Carmax and how much I'd get. Made it easy and allowed me to negotiate with more confidence - I knew what my baseline was and had an offer in-hand.

So take your ride over there and do the same, get a base price and go from there. Note they don't seem to haggle much, their offer is their offer. And be prepared for a little heart break... unless it's a GT500 or something rare, they always seem to be worth less than you want 'em to be

Best of luck to ya!

 

[Deleted member 35786]

I mostly would avoid them too. My only mod is a catback system, which I'm considering returning to stock. I never got a tune or CAI or even removed the sound tube.

Leave it on and sell as is via craigslist, FB, Autotrader etc.. Just let the future owner know you have the factory exhaust and it comes with the car. You will get more money via private sale vs trading it in.
Living next to many military bases has its advantages. Being Fort Knox is close by you just have some luck. I have sold many cars in just a few days, sometimes hours to military folks.
Good luck.

 

[ChosenJuan]

I actually just went to a local CarMax a few days ago, asked basic information and had someone appraise/take a look at the car, took about 30 minutes. Didn't need to be driven since it was a '17 GT. The offer they gave was on the higher end of the KBB price, and higher than Carvana. I'm sure you can get higher if you trade it in at dealerships, but I don't plan on buying from CarMax so it's a nice hassle-free way to sell your car and call it a day.

Sponsored