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Posted: 10/25/2017 1:00:38 PM EDT
[#1]
The Best way to figure out a value is to search a fifty mile radius of comparable vehicles.
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Posted: 10/25/2017 1:03:42 PM EDT
[#2]
Quote HistoryQuoted:
The Best way to figure out a value is to search a fifty mile radius of comparable vehicles. |
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Posted: 10/25/2017 1:19:14 PM EDT
[#3]
I'm not sure
They will probably offer you low KBB Then sell it for NADA values which are higher lol |
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Posted: 10/25/2017 1:35:43 PM EDT
[#4]
I just traded in a 2013 Highlander on a new Honda Pilot last month. Clean garage kept no smoking Florida trade in with no issues and only 30K miles on it.
The KBB for a trade in was $19K. I was offered $12K for it. It took some haggling and threats of walking before they finally gave me the trade in and the discount I needed. It helps to have the KBB printout with you. It is hard for them to argue with it. Go in knowing what your trade in is worth. Also, know what the prevailing discounts are. There are several websites that will tell you that. |
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Posted: 10/25/2017 1:42:07 PM EDT
[#5]
Of course it depends on the car...
But KBB listed my used 2002 Honda at about $5k... Even with the work that it needed, the "carmax" offer was $2K.... Actual cash offer in the dealer: $300.... I would have gotten more from the tax write off. Since I was moving overseas, I ended up selling the car to family for $300. |
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Posted: 10/25/2017 1:48:31 PM EDT
[#6]
No one uses KBB but uninformed consumers. Go to NADA or Edmunds to get vehicle values.
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Posted: 10/25/2017 1:50:16 PM EDT
[#7]
CarMax uses KBB.
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Posted: 10/25/2017 1:54:59 PM EDT
[#8]
It's been my experience that I have never received anywhere close to the KBB or NADA value offers from ANY dealer. They are all significantly lower than those.
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Posted: 10/25/2017 1:57:13 PM EDT
[#9]
Quote HistoryQuoted:
It's been my experience that I have never received anywhere close to the KBB or NADA value offers from ANY dealer. They are all significantly lower than those. |
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Posted: 10/25/2017 2:01:47 PM EDT
[#10]
When I was a buyer or running a dealership and decisions came to me to make to begin with or others couldn't decide I first looked at auction numbers, what that car was averaging at the auction. If the car I was comparing was average I went by that number. If perfect and say new tires brakes etc and needed nothing I would go to the higher end of that auction number as it was what I could buy the car for currently. I would then go on auto trader/cars.com and see what I thought I could price it at and be competitive and move it quickly. If my gap was about $2000 for your normal every day car from ready to go on the lot, to selling price that is what I would pay for it. I may start $500 less and go to that but no more games then that.
again that was for your average every day cars. My real specialty and fav was buying cars that were one of a kind and in-comparable. |
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Posted: 10/25/2017 2:07:53 PM EDT
[#11]
Quote HistoryQuoted:
No one uses KBB but uninformed consumers. Go to NADA or Edmunds to get vehicle values. |
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Posted: 10/25/2017 2:11:53 PM EDT
[#12]
The dealers use 'Black Book'. Used car dealers use it at the auctions.
It's a subscription service, but car salesmen can be bribed. 
Website |
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Posted: 10/25/2017 2:14:28 PM EDT
[#13]
Everyone always wants to buy their new car at below wholesale, and sell their used car above full retail...
Dealers have to make money on the trade in (what they paid, what they have to pay to inspect, fix, detail - condition the car and of course for the PAC and commissions paid to sell it again)... CarMax has been pretty good about making more generous offers than most dealerships would pay, unless it is something hot for that dealership (Elements or Si's at a Honda or Landcruisers or FJs at Toyota or such)... |
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Posted: 10/25/2017 2:16:12 PM EDT
[#14]
Quote HistoryQuoted:
The dealers use 'Black Book'. It's a subscription service, but car salesmen can be bribed.
Website |
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Posted: 10/25/2017 2:17:05 PM EDT
[#15]
Quote HistoryQuoted:
It's been my experience that I have never received anywhere close to the KBB or NADA value offers from ANY dealer. They are all significantly lower than those. But back to OP's question, CarMax tends to be really close to KBB, and significantly less than NADA. You can generally get better trade value from a dealer who specializes in your particular used chariot of doom. Got a good vette? Go to a chevy dealer that specializes in vettes. Got a nice bro-dozer? Drive it off a cliff....errr....I mean go to a dealer that specializes in trucks. They have the market that drives foot traffic to sell that particular vehicle and as such are generally more inclined to give a bit more on trade. |
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Posted: 10/25/2017 2:25:26 PM EDT
[#16]
I worked at a dealership (not CarMax) about 13 years ago. We would use KBB "Trade-in" value for vehicles. Condition was always set to "Fair" (or sometimes "Poor") and the mileage put in. No other checkboxes were clicked (upgraded stereo/rims/etc., leather seats, moonroof).
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Posted: 10/25/2017 2:26:53 PM EDT
[#17]
Just did it at car max. car max offer 3k higher the KBB. its was worth it as the trade in got me an extra 1200 off taxes. so trade was worth 32k! win win.
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Posted: 10/25/2017 2:34:52 PM EDT
[#18]
Quote HistoryQuoted:
This. |
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Posted: 10/25/2017 2:41:20 PM EDT
[#19]
Quote HistoryQuoted:
That. Quote HistoryQuoted:
Quoted:
This. |
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Posted: 10/25/2017 2:44:41 PM EDT
[#20]
You need to go into these things with the most info you can have. Do your homework. Gather prices from numerous sources. Area dealers, KBB, NADA, Edmunds, Ebay, Autotrader, Cars.com,Craigslist etc. Remember there's a difference between what someone is asking for a car and what they really sell for.
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Posted: 10/25/2017 2:45:24 PM EDT
[#21]
If Carmax will buy, they will do so on the spot and cut you a check right then, and probably give you a ride home too. My mother sold my dads 05 Scion to Carmax after he died. and got $3K more than the Toyota dealer offered.
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Posted: 10/25/2017 2:47:20 PM EDT
[#22]
Each situation will be different.
Carmax offers cash out the door, good for three days, and will do a thorough inspection of the vehicle. Then they check recent auction/sales data before finalizing their offer. If you feel their offer is too low, ask to speak with one of the appraisers and they can explain the process. |
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Posted: 10/25/2017 2:48:49 PM EDT
[#23]
Quote HistoryQuoted:
It's been my experience that I have never received anywhere close to the KBB or NADA value offers from ANY dealer. They are all significantly lower than those. |
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Posted: 10/25/2017 2:50:33 PM EDT
[#24]
Quote HistoryQuoted:
The dealers use 'Black Book'. Used car dealers use it at the auctions. It's a subscription service, but car salesmen can be bribed.
Website |
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Posted: 10/25/2017 3:17:51 PM EDT
[#25]
In my limited sample size of 3, I've always received the wholesale price
i.e. black book as mentioned above They were always couple thousand below KBB trade in value. Not surprising. |
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Posted: 10/25/2017 3:22:45 PM EDT
[#26]
It depends, if it's a car that carmax won't sell (too old, etc) but it's in good shape, they'll probably offer around half the private sell value.
If it's something they will put on the lot, they can be pretty competitive with the price compared to a dealer and less hassle than a typical dealer. |
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Posted: 10/25/2017 3:30:16 PM EDT
[#27]
Carmax near me doesn't even come close to giving people what their car is worth. Most people just end up selling it to the local manufacturer dealer or trading it.
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Posted: 10/25/2017 3:36:53 PM EDT
[#28]
Quote HistoryQuoted:
The Best way to figure out a value is to search a fifty mile radius of comparable vehicles. |
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Posted: 10/25/2017 3:51:07 PM EDT
[#29]
Quote HistoryQuoted:
I worked at a dealership (not CarMax) about 13 years ago. We would use KBB "Trade-in" value for vehicles. Condition was always set to "Fair" (or sometimes "Poor") and the mileage put in. No other checkboxes were clicked (upgraded stereo/rims/etc., leather seats, moonroof). Carmax pulled that shit on me. I fully detailed the car, and it needed nothing. When the car was new the owner had a plastic cover installed over the entire carpet. The carpet had NEVER been touched. No used car is perfect but trade in value set to fair condition was bullshit. If I recall it was about half of what they could have sold the car for. And it needed very little attention before selling. |
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Posted: 10/25/2017 3:56:01 PM EDT
[#30]
I will add Carmax will try and meet a previous quote they give you. We had to bring in an inherited car for an apprasail to pay off another family member. Almost 1 year later and 7k more miles we decided to sell it and Carmax offered to match the original quote.
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Posted: 10/25/2017 5:17:43 PM EDT
[#31]
I just sold my 2009 Nissan Frontier to CarMax for 8k.
Kelly offered $7017. That's a significant difference. |
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Posted: 10/25/2017 5:50:49 PM EDT
[#32]
The carmax by me uses both & gives you both. They expect you to take the higher one. In my cars case I had there in August...The carmax offer was 2K higher then the KBB. But it was still way too low as I saw the same car 2 years newer but with a lot with more miles for 6k more then the value they gave me. I walked.
Wasn't worth it. I'll keep my car as it's still very low miles. |
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Posted: 10/25/2017 5:59:29 PM EDT
[#33]
Some of the dealers in Tampa use the Manheim weekly auction prices to low ball.
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Posted: 10/25/2017 6:13:37 PM EDT
[#34]
Quote HistoryQuoted:
Some of the dealers in Tampa use the Manheim weekly auction prices to low ball. |
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Posted: 10/25/2017 6:47:00 PM EDT
[#35]
Quote HistoryQuoted:
general speaking there are three values on KBB, trade-in, private and public sale I believe. basically dealer needs to screw you over on the trade to make any money. So the only way to come out even is to sell the car to private party. Or if the car major issues likemotor/transmission is about take a shit trade it in to dealer for what ever you can get out it. Quote HistoryQuoted:
Quoted:
The Best way to figure out a value is to search a fifty mile radius of comparable vehicles. 
Every person that walks through these doors lies about the condition of their vehicle and purposely hides known problems to try swindling the dealership into losing money. There's a reason for the phrase, "all buyers are liars" Not to mention the fact that the dealership has to recondition the vehicle to make sure it is in working order or suffer from some whiny customer that brings the vehicle back because something isn't working and expecting you to fix it. This same customer is the one that screeches about the dealership "screwing you over on the trade to make any money". After all of that, every single dealership and business in the world is a for profit entity and has to turn around and sell the vehicle for a profit. The above part in pink tells me everything I would ever need to know about your character as a human being. |
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Posted: 10/25/2017 6:52:09 PM EDT
[#36]
Quote HistoryQuoted:
I just traded in a 2013 Highlander on a new Honda Pilot last month. Clean garage kept no smoking Florida trade in with no issues and only 30K miles on it. The KBB for a trade in was $19K. I was offered $12K for it. It took some haggling and threats of walking before they finally gave me the trade in and the discount I needed. It helps to have the KBB printout with you. It is hard for them to argue with it. Go in knowing what your trade in is worth. Also, know what the prevailing discounts are. There are several websites that will tell you that. 
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Posted: 10/25/2017 6:54:55 PM EDT
[#37]
Quote HistoryQuoted:
When I was a buyer or running a dealership and decisions came to me to make to begin with or others couldn't decide I first looked at auction numbers, what that car was averaging at the auction. If the car I was comparing was average I went by that number. If perfect and say new tires brakes etc and needed nothing I would go to the higher end of that auction number as it was what I could buy the car for currently. I would then go on auto trader/cars.com and see what I thought I could price it at and be competitive and move it quickly. If my gap was about $2000 for your normal every day car from ready to go on the lot, to selling price that is what I would pay for it. I may start $500 less and go to that but no more games then that. again that was for your average every day cars. My real specialty and fav was buying cars that were one of a kind and in-comparable. |
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Posted: 10/25/2017 6:58:51 PM EDT
[#38]
My BMW 328xi years ago trade in was 15 or 16k and they offered me 12k
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Posted: 10/25/2017 7:08:03 PM EDT
[#39]
Quote HistoryQuoted:
Carmax near me doesn't even come close to giving people what their car is worth. Most people just end up selling it to the local manufacturer dealer or trading it. Does CarMax offer what the car is worth on the private sale market? Nope. Is the CarMax offer higher than what other franchised mfg dealers are offering? Always, in my experience. The last 4 or 5 cars I've sold to CarMax (mix of american/euro/japanese makes, values ranging from $8000 to $30,000) were always at LEAST $2000 above what the local mfg dealers were willing to give. And the total lack of typical dealer BS is refreshing. |
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Posted: 10/25/2017 7:11:11 PM EDT
[#40]
Carmax gave me about $3000 more for my Honda - -than HONDA Dealer did.
I had a check in hand within the hour; LOVED it. |
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