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Carmax Luck?

Discussion in 'Model S' started by tanner, Apr 20, 2016.

  1. tanner

    tanner Active Member

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    Has anyone had any luck selling their MS to Carmax? If so, were they close to the KBB.com private party value or way off? Thanks :)
     
  2. zer0cool

    zer0cool Member

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    CarMax never offers anything even close to KBB private party value... For me, regardless of the car's quality, expect the offer to be at the lowest of trade-in range. E.g. let's say avg private sale is 50k, then trade in would be between say 38 and 44k. I would expect to get 36k offer from CarMax...

    I have generally had significantly better offers selling to dealers than to CarMax.
     
  3. Bruin1996

    Bruin1996 Member

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    I had a similar experience with Carmax. Just sold my 2006 Acura TL to the Acura dealer for almost $1000 more than my Carmax offer (and $500 more than Tesla's tradein offer).
     
  4. kort677

    kort677 Active Member

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    carmax came in about $16k lower than what tesla offered me for my tesla
     
  5. tanner

    tanner Active Member

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    Holy crap. That's awful. Especially since the TSLA CPO offered me ~15k LESS than the KBB price.
     
  6. kort677

    kort677 Active Member

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    kbb prices are fantasies. like any other markets there is a baseline of value. at what price can you buy a similar car to yours from tesla? that is your baseline, if you can find someone willing to pay you more than they can buy a cpo car from tesla you'd be doing well.
     
  7. tanner

    tanner Active Member

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    There are no similar Teslas to mine, considering it's a '13 with only 10k miles... I need to drive more :D
     
  8. jomo25

    jomo25 P4398

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    I was able to get KBB range for my MS from a local dealer.
     
  9. kort677

    kort677 Active Member

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    they have a method of value cars based on miles, for example a car with 20k miles will be worth X dollars less than yours. so there is plenty of data to work with
     
  10. valkeriefire

    valkeriefire Member

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    #10 valkeriefire, Apr 20, 2016
    Last edited: Apr 20, 2016
    There are actually a lot of nice Tesla's out there. I just recently declined to buy 2 '13 P85s with identical options to yours. Both had 8000 miles. One was a 24xxx VIN and the other was 27xxx. Seller wanted $67k for them. I offered a $2K less but someone else bought them for the $67k price.

    I had the poor fortune of being a car salesman for a few months immediately after I graduated college (never major in PolySci LOL). No dealership will pay a dollar over trade-in value. Their goal is to pay as much under trade-in as possible. If they tell you they are paying you more than trade-in, most likely they are increasing the price on the front end of the deal by jacking the price up on the car you are buying, only you haven't noticed it because you're only concerned about the monthly payments. They can also make more money by giving you a bad interest rate on a loan. Either way, they are making money on you somewhere. Used cars generate quite a bit more revenue than new ones. Buy at trade-in or less, sell at retail or higher (depending on buyer naivete level). A dealership can make $5000 or more on a used car easily but a new car that sells for close to invoice will only generate around $1000 when it is all said and done (most of which the salesman doesn't see unfortunately).

    I'd recommend you try and sell private party. You car sounds nice and should sell easily if you price it correctly. I'd try for high 60's and be willing to go down to low 60's if you need to sell quickly.
     
  11. tanner

    tanner Active Member

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    Okay, that helps, thanks. I have an offer for 66 and another for 65
     
  12. valkeriefire

    valkeriefire Member

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    $66k is fair, I doubt you'll do much better, especially since the new front end just came out. Might be a good idea to sell before the market gets saturated with people trying to upgrade.
     
  13. tanner

    tanner Active Member

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    Right... That's what I'm getting :D
     
  14. ktrivedi70

    ktrivedi70 Member

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    This past October I was thinking about selling my 2014 S60. Interestingly CarMax offered about 3k more than Tesla.
     
  15. kort677

    kort677 Active Member

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    could LUCK be the operative word?
     

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