Carmax: The Experience That Wasn’t
As part of our adaptation to our “frugal” lifestyle, we are selling our SUV. It is finally paid off to the point where we can realistically sell it. Our friend said Carmax gave him a good price, so we decided to check it out.
Our SUV is in good to excellent condition. We owe $12,100. Trade in value showed as $11,500, private party as $12,500. Before going in, I checked to see what Carmax was selling similar year/make/model/mileage for: $15,700.
We expected the offer there to be a little low, but we were willing to let it go as long as it was close enough to the pay off amount. We need to get rid of the payment before we can’t keep up with it. Dealing with Craigslist scammers was getting old, and we were going to have to pay to post it elsewhere anyway.
The salesman was nice enough, and the appraisal took less than 20 minutes. We took a short walk in their lot to see what the cars were listed at, and saw several that would be the same or less new.
Unfortunately, the amount provided was unrealistically low: $9,000. He briefly tried to justify it with “we will probably only sell it for around $11,000.” I am not a big fan of being lied to, so my reply was “that’s not exactly true.” We left without any overcoming objections.
I can see how it would be worth it to some not to have to deal with buyers directly, or deal with high pressure sales. I think their price is too steep for that luxury.
Posted: May 15th, 2011 under Learn from the experience.
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