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PSA trade in value at Carmax

heyou

Member
Jul 14, 2018
22
14
Livermore
Just wanted to put this info out there. Today we sold our 2020 Model Y performance. We took delivery 3/26/20 and put about 8k miles on it. We also have 1 accident on file due to a car backing into us in a drive thru.

The trade in quotes we got from various places are as follows:
Tesla 45k
Bmw dealer 45k
Vroom 48500
Carmax 54k

I'm pretty sure carmax is using kbb which has really inflated numbers for the model y. They said we could private sell the car for 64k... which makes no sense since you can order the car new from tesla for 61k before rebates from CA, electric provides, etc.
 

jcanoe

Active Member
Oct 2, 2020
1,582
1,604
Maryland
This confirms my experience with selling my recent model vehicles (2011 Ford Fusion, 2017 Chevy Volt) to CarMax. CarMax pays good prices for low mileage recent model vehicles, especially if the vehicles have all of the popular factory options.
 

Kuzco

Member
Feb 2, 2021
68
74
USA
Anyone have experience selling to Carvana? They’ve been the most competitive for our non-Tesla trades
 

Clark_Kent

Member
Jun 23, 2020
293
226
Smallville, KS
Just wanted to put this info out there. Today we sold our 2020 Model Y performance. We took delivery 3/26/20 and put about 8k miles on it. We also have 1 accident on file due to a car backing into us in a drive thru.

The trade in quotes we got from various places are as follows:
Tesla 45k
Bmw dealer 45k
Vroom 48500
Carmax 54k

I'm pretty sure carmax is using kbb which has really inflated numbers for the model y. They said we could private sell the car for 64k... which makes no sense since you can order the car new from tesla for 61k before rebates from CA, electric provides, etc.
Thanks for sharing. How was your vehicle optioned and what was the original MSRP?
 

El joe

Member
Jan 29, 2019
341
225
Bay Area, CA
Anyone have experience selling to Carvana? They’ve been the most competitive for our non-Tesla trades
Sold my Bolt and bought my Model 3 from Carvana. I’ve sold them two other cars and loved the experience. When I’ve gotten quotes from them, they’re the highest or right up there with all of the others.

Recently, for fun, got a quote on my 2018 M3 LR AWD w/EAP and 34k miles. Both Carvana and Tesla offered me right around $33k.
 

Kelmn07

Member
May 7, 2018
175
70
New Hampshire
White performance model y no other options.

Msrp of 61k

Cavana never got back to me with a quote after waiting 5 days and calling them.

This doesn’t sound right? There is no call back. The offer is immediately displayed on the screen and if you want to accept you do so and create a log in. I’ve never had an issue calling them about the offer I accepted or talking to them through live chat.
 

AZMurph

Member
Mar 21, 2019
49
26
Arizona
I have a Y in order and am trading in my 18 MX. Carvana quoted me $2,500 less than Tesla. But it took me several days and a few calls to get a quote. The online quote had a “looks like you stumped us” message with instructions to call in. I was going to then check CarMax but they would have had to beat Tesla by 15% to make up for the sales tax benefit of trading in the car. Given that and the fact that you have to bring your car to CarMax and the quote is good for 7 days, I got lazy and am just going with the trade for convenience. CarMax might have beaten them after the sales tax impact but not by much.
 

FoxSTL2HOU

Member
Nov 12, 2018
467
272
HOU
Quote as many places as you can. I quoted our Model S back in December, and Tesla was high offer, followed by Vroom, Carvana and CarMax in dead last, $5000 spread.
 

mac9899

Member
Aug 27, 2019
121
85
Florida
Just wanted to put this info out there. Today we sold our 2020 Model Y performance. We took delivery 3/26/20 and put about 8k miles on it. We also have 1 accident on file due to a car backing into us in a drive thru.

The trade in quotes we got from various places are as follows:
Tesla 45k
Bmw dealer 45k
Vroom 48500
Carmax 54k

I'm pretty sure carmax is using kbb which has really inflated numbers for the model y. They said we could private sell the car for 64k... which makes no sense since you can order the car new from tesla for 61k before rebates from CA, electric provides, etc.

Can confirm Vroom was my lowest, Carvana was meh, CarMax FTW!
 

acarney

Active Member
Jul 9, 2019
2,412
1,483
Richland, WA
This is very hit or miss based on market and location. CarMax was a huge pain in the ass (and rude) for me. I called ahead of time asking if they could give me a ballpark estimate since I'm 150 miles away from the CarMax location, I also asked about COVID issues and if I had to go in person for an estimate (this was August time frame). The lady insisted that they only do in person estimates and I HAD to have someone walk around the car with me. She also assured me that they are very close to KBB amounts and if I looked it up on my own I was know basically what they would offer.

I trek up the 150 miles during the great PNW fire season with smoke all over the place and low visibility, as soon as I get to CarMax I'm told to please go back to my car and wait and TAKE PICTURES OF THE CAR AND SUBMIT THEM VIA EMAIL. It would be a non-contact appraisal due to COVID. I WAS LIVID that I drove 150 miles to snap some pictures of the car in the parking lot and email them to CarMax when I called 12 hours earlier and was told I HAD to be there in person.

CarMax came back and said my whole front end needed painted on my 2019 SR+ with 7,000 miles (and paint protection film). I emailed back and said I disagreed because they were bug splatters from driving 150 miles to get an estimate and they said it still looked bad enough that they would repaint. Well I stormed back in and dragged out a rep to look at the car in person who finally came out but said "repainting the vehicle doesn't really affect your estimate all that much,", he glanced at it and said "ya, looks like it needs painted... I was floored and told him to get closer or put glasses on because they were bugs!" he finally steps about 2 feet away from the car and goes "oh ya, those are just bugs, they'll wash right off!" but then assures me the estimate would remain the same and there wasn't any reason to resubmit it because "painting doesn't change the price we'll offer."

I think they offered me like $28,000 for a 1 year old Model 3 SR+ with 7,000 miles on it. Vroom offered $35,500 sight unseen and Carvana offered $38,900 but I would have to drop the car off in San Fran. I was furious with CarMax and drove back home after 15 minutes of being in their parking lot taking pictures of the car and fighting with their sales guy that bugs didn't mean the front end needed repainted.

I got MASSIVE "used car" vibes from the place. It reminded me EVERYTHING I hate about the car buying process and how much more I love the Tesla process of click, email back and forth a bit, and buy.

Vroom was rather slow (two weeks start to finish) and required a couple calls and emails from me to poke and prod to get documents emailed out faster, but it was 1,000% better experience and didn't make me feel sick and dirty from the sleazy used car sales man tactics and atmosphere.

Again, likely market specific and probably time specific, but do NOT just go there and hand the car over before you get a couple other quotes, and frankly, I would make them my last resort not my first.
 
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oxtox

Member
Jun 21, 2020
17
5
Willow Grove, PA
FWIW, My carmax experience was groundbreaking for me. They gave me the most for my trade in (significantly more than Tesla). Super quick and painless. One appointment to look at the car (20 minutes) and one for paperwork/check...in and out with check in hand in 30 minutes. They gave me the impression that all they care about is making anything, no matter how small, back over what they paid. They can take a low profit because of the volume they do? Anyhoo, I'd go there with the MY if I ever get rid of it.
 
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Reactions: vickh

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