Ever sell a car to Carmax or Autotrader? | Page 2 | FerrariChat

Ever sell a car to Carmax or Autotrader?

Discussion in 'General Automotive Discussion' started by bball16, Sep 20, 2015.

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  1. Robin

    Robin F1 Rookie

    Nov 1, 2003
    2,931
    Arlington, VA
    Bingo. Time is money and since I'm not in the used car business, when I need a car gone I drop it at Carmax and go on with my day. I sold three cars to them, including my 355 and have no complaints. Dealing with strangers showing up at my home to haggle with me by telling me my car is a POS simply isn't worth the few thousand extra that I'd get selling privately.
     
  2. Wade

    Wade Three Time F1 World Champ
    Owner

    Mar 31, 2006
    32,793
    East Central, FL
    Full Name:
    Wade O.
    Your response, and similar, is fascinating to me coming from a website with financially astute (it's assumed) members (FerrariChat). Other than vanilla appliances, most cars are sold by dealers at msrp or greater while the trade-in value is considerably less than market. So that's more than $10k loss/out of pocket.
     
  3. Devilsolsi

    Devilsolsi F1 Veteran
    Rossa Subscribed

    Mar 1, 2007
    8,504
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    Alex
    What is your time worth?

    Everyone has a different answer to this question. TO some taking a $10k hit is nothing. To some, every $500 counts. When you go to sell a car there is that line in the sand that you have as a seller, where a price is close enough to what you want, and not worth the extra effort of fighting for more.
     
  4. henryr

    henryr Two Time F1 World Champ
    Silver Subscribed

    Nov 10, 2003
    21,653
    Atlanta
    Full Name:
    Juan Sánchez Villa-L
    most cars are sold by dealers at msrp or over ......

    really ? i'd like to see data on that.
     
  5. Wade

    Wade Three Time F1 World Champ
    Owner

    Mar 31, 2006
    32,793
    East Central, FL
    Full Name:
    Wade O.
    True, and I suppose if you're looking at vehicles costing $70k or more then a $20k hit would be expected.

    And I'm not so pressed for time. I've sold several cars and motorcycles, met some nice people along the way.

    Makes you wonder why the car sales industry is in a uproar over TrueCar.

    In addition, my local Chevy dealer adds a $2k surcharge on any car if you have a trade-in. Crazy.
     
  6. Devilsolsi

    Devilsolsi F1 Veteran
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    Mar 1, 2007
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    Alex
    Always negotiate the car first...and trade in second. They will play those games if they know for sure you are going to trade in.
     
  7. Wade

    Wade Three Time F1 World Champ
    Owner

    Mar 31, 2006
    32,793
    East Central, FL
    Full Name:
    Wade O.
    That's been my method as well, but at this dealer every car has an extra window sticker showing the markup.
     
  8. Townshend

    Townshend F1 Veteran
    Owner Rossa Subscribed

    Jul 20, 2005
    6,672
    Chicago
    Full Name:
    Walter
    Took my 2013 CLS63 AMG to Carmax today, they essentially told me to not even bother. Said they wouldn't offer me close to what it's worth and I'd better off with a dealer as they would just try make money from wholesaling it. Was in and out in about 10 minutes :)
     
  9. Zcobra1

    Zcobra1 Formula 3

    Oct 9, 2012
    1,247
    So Cal
    Full Name:
    Bert
    My 2 Carmax experiences, negative.

    Last one was a few months ago. Selling a Cad SRX, they had a few same
    as mine, actually mine had AWD, anyhow the were selling these for 18-19k.

    Figured they would offer me $14K, low balled me at $10K !
    No accident, new tires, brakes, detailed, ready to roll my car.
    Complete waste of time. The guy told me their business model
    needed $2500/3000 net on each they bought. ok I can see that,
    But $9K - no way.

    I sold that car on CL in 2 days for $14K, and I feel I could of got
    more if held out for it.

    Same thing selling a Vette years back, sold it for $5500 more
    In just a few days.
     
  10. Robin

    Robin F1 Rookie

    Nov 1, 2003
    2,931
    Arlington, VA
    Yea I've left a bit of money on the table by selling cars to CarMax, but again, to me the time saved and hassle averted is worth much more than the money. $10k isn't going to change my life, but the stress and time involved with handling a private transaction would drive me nuts.

    The 355 I sold to them was considered excessively high mileage by American Ferrari owner standards, but luckily CarMax didn't think so and I got what I considered a fair price at the time. I tried my local Ferrari dealership first but they wouldn't even consign it due to the odometer reading.
     
  11. proof69

    proof69 Formula 3

    Sep 14, 2014
    1,003

    How could they buy your car at retail and then resell it and make a profit. I learned a long time ago that dealers make their profit on the buy not the sell.
     
  12. proof69

    proof69 Formula 3

    Sep 14, 2014
    1,003

    At least they were honest with you. I give them credit for that.
     
  13. El Wayne

    El Wayne F1 World Champ
    Staff Member Lifetime Rossa Owner

    Aug 1, 2002
    18,043
    San Marino, CA
    Full Name:
    L. Wayne Ausbrooks
    Trust me; I WAS a dealer for more than twenty years. Dealers make a profit anywhere they can - and often in more ways than the customer realizes.

    So, how did they make a profit on mine? Likely by sending it to a location where that particular car would have been in demand (it was a Subaru STi), selling it for well in excess of retail book (customer closed on payment and not price), up-selling GAP/service contract/etc, and then picking up a couple of points on the financing.

    What they didn't do is sell it to a discerning, cash-paying buyer.
     
  14. Townshend

    Townshend F1 Veteran
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    Jul 20, 2005
    6,672
    Chicago
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    Walter
    Yes absolutely.
     

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