So I got a CarMax appraisal today

I've recently recommended CarMax appraisals twice lately. Once was to value a car for the purpose of settling an estate, and the other was to a friend in trouble with her car loan.

But I've never been through the process myself. I was near a CarMax today with time to kill, so I went in to have my car appraised.

First of all, there really is no pressure. The "consultant" was a nice and outgoing gal who I might have asked out if I didn't think SWMBO might be upset about that

She took my info and keys, and we chatted for a bit. She was a bit of a gearhead (anybody who DDs a Mitsubishi 3000GT with 220k has to be a gearhead or a masochist!) She took me through the website to see if something caught my eye. A low-miles Forester did, but there wasn't any pressure. She offered to have it brought in from CA for a test drive, but I chose against it.

After the conversation died, I got up, walked around and got a free coffee. About 10 minutes later she found me. We sat down and she showed me a $4k offer, printed it out, and sent me on my way.

For the record, it's an '05 Scion xB with 89k on it. On my own, I could sell it for $5500 if I wanted to wait, or $5k in a hurry.

Their $4k offer was right in line with NADAGuides, a bit above Edmunds, and a bit below KBB.

Overall, a simple, no-hassle experience with a result that was right in line with expectations.

A few years ago my brother decided to sell his Nissan Altima. It needed paint but was otherwise in good shape. I forgot the number that CarMax gave him, but I was like, Dude, take their money and walk home.

It seems its either really good offer or totally crap. I've sold 3 cars there. All of them unique and I got a great offer for each. Its a good way to at least get a feel for what the market will yield for the car.

Makes me wish there was one near me. Closest is in Cleveland.

Wait, you can sell a car before it has absolutely no use or value left in it?

I've sold 2 cars to them, once because I didn't want to hassle with Craigslist and once because I didn't want to hassle with replacing a transmission. I was happy both times.

bmw88rider wrote: It seems its either really good offer or totally crap.

I think the offer they gave me was neither "really good" nor "crap". I thought it was fair.

bmw88rider wrote: It seems its either really good offer or totally crap.

I don't think they have a feel for conversion vans. A few years ago, I took mine in. (10yo) 2002 Ford, loaded, high top, 70k. I suspect they punched in the VIN and looked at it as it came from the factory - a bare truck, and not take into account the leather seating, TV, rear heat and AC, etc. They offered me $1800.

The couple I sold it to, later that week, felt they stole it from me for $5500.

In reply to EvanR:

At least they didn't warp your brake rotors hot rodding it when they did your appraisal.......

Used them twice. First was a 2011 Corolla that we had on Lease. There was a year left on it and we went in to see what they would offer. We signed that night as they took care of it all and we walked with $1500 in cash for our trouble.

Second was our 2012 Ram 3500 Dually, 6spd, only option was the Chrome package and a bed cover with gooseneck. Sold to them for about 800 less than we bought it for after a year and 16000 miles. The price was about what I thought I could get or close if I sold outright, but no hassle and easy to deal with. They did offer us a Taxi ride home and everything and kinda hassled us a bit on this one. Apparently the big white whale grabbed someones eye there and they wanted it something fierce.

I think CarMax offered me $4000 for my WRX. That afternoon, I sold it straight up to a used car lot for $7500.

Thinkkker wrote: Used them twice. First was a 2011 Corolla that we had on Lease. There was a year left on it and we went in to see what they would offer. We signed that night as they took care of it all and we walked with $1500 in cash for our trouble. Second was our 2012 Ram 3500 Dually, 6spd, only option was the Chrome package and a bed cover with gooseneck. Sold to them for about 800 less than we bought it for after a year and 16000 miles. The price was about what I thought I could get or close if I sold outright, but no hassle and easy to deal with. They did offer us a Taxi ride home and everything and kinda hassled us a bit on this one. Apparently the big white whale grabbed someones eye there and they wanted it something fierce.

Wait, you sold a car that still had a year on the lease ?

How did you handle that ?

In MD near DC they offered 2 grand for my wife's 2001 Audi A4 manual 2.8 30V Quattro w/ under 100k miles. There's a guy next door, "Nico Buys Cars" who will either beat the CarMax offer or stroke you a check for $200. So with the offer good for one week I listed it on CL and ended up selling it for $2800 to an Audi/VW nerd from Rochester NY.

iceracer wrote: Wait, you sold a car that still had a year on the lease ? How did you handle that ?

Call in, you can always pay off a lease. There is a buyout option, so as long as you pay the company more than that amount, you are covered. They lump sum at the end plus whatever remaining payments on the lease is about what it would be.

Not sure all leases offer this, but Toyota did.

Yes, I know about the buyout thing. I just wondered how it was handled through a third party.

They offered me $7K for our '07 Murano with 89k on it. I told my brother that if he sold it for me (he lives in a better market than I), he could have 1/3 of whatever he got over $7K. He was able to sell it for $8500 on CL.

iceracer wrote: Yes, I know about the buyout thing. I just wondered how it was handled through a third party.

Pretty much the same as if you owe on a car. They made an offer we accepted we knew payoff. They got the payoff, cut Toyota a check, then us the remainder. shrugs