Don't waste your time at Carmax. Can't believe they're trying to make a profit - Page 2 - Drive Accord Honda Forums | radio-pro.ru
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post #16 of 83 Old 10-28-2015, 03:38 AM
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Try selling it independently. See the kind of offers you get and report back if you can!
That was my thought.... I sold my Impala SS...but the sheer number of idiots, low ballers and outright scammers was annoying...
I don't know how many people had an IRS refund check they wanted to sign over...

I took comfort knowing that Carmax initially was $4k over my payout, and it took over 6 weeks for them to sell it, eventually getting down to $21500.

Carmax offers less money, sure. But it's quick and easy. Trade offs abound in life...

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post #17 of 83 Old 10-28-2015, 05:24 AM
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Quick wash and quick sale?

A business is more complex than you think.

From the profit, the salesperson has to be paid, the accountant, the manager, the owner, the light company, insurance, trash, water, property taxes....even if it's a little percentage, there are salaries and bills to be paid, and profit for the owners...

They're in business to make money, not pennies. Don't like it? Sell it yourself. Practically no one will give you that money for it. Most would rather deal with dealerships for that kind of money.

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post #18 of 83 Old 10-28-2015, 08:48 AM
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Originally Posted by salcuta88 View Post
Quick wash and quick sale?

A business is more complex than you think.

From the profit, the salesperson has to be paid, the accountant, the manager, the owner, the light company, insurance, trash, water, property taxes....even if it's a little percentage, there are salaries and bills to be paid, and profit for the owners...

They're in business to make money, not pennies. Don't like it? Sell it yourself. Practically no one will give you that money for it. Most would rather deal with dealerships for that kind of money.
Exactly...
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post #19 of 83 Old 10-28-2015, 09:03 AM
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So I've been looking at trading in my MSM '13 EX sedan and figured I'd take it to carmax as a basis point for negotiations at the dealership. It only has 19k miles and everything is flawless not even a scratch on the exterior. Appraisal came back at $16,000. Seems a little low to me.
So now you know what your immaculate car is worth. Remember, it's not about the car, it's just a unit, it's the market. Probably better to keep it a few more years. If you have a family member or friend that knows how well your vehicle is cared for, that may be your best bet.

I was shocked when I traded in my 08 Odyssey and they gave me 6,750 and listed it for 13,999. Even if they got 10k for it, there's still a lot of money to be made. I've never purchased a used car from a dealer but should I do so, I'm going really low on the offer.

Should you decide to trade it in, remember you have to work the buy and sell side so if they offer you more than 16k you are probably getting hosed on the buy side.
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post #20 of 83 Old 10-28-2015, 09:13 AM
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just because I'm behind on my acronyms and colors, is MSM that general gray color that comes standard on the LX?

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post #21 of 83 Old 10-28-2015, 09:27 AM
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Originally Posted by mikekf7 View Post
So I've been looking at trading in my MSM '13 EX sedan and figured I'd take it to carmax as a basis point for negotiations at the dealership. It only has 19k miles and everything is flawless not even a scratch on the exterior. Appraisal came back at $16,000. Seems a little low to me.
Your problem is that 3-Year low mile lease turn-ins are hitting the used market and driving prices down. Carmax sells a lot of these that they get at auction.

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post #22 of 83 Old 10-28-2015, 09:33 AM
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I look up in kbb for ex 13 with 19k is at around $15.8k for very good condition for trade in. I would take the 16k and run.

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post #23 of 83 Old 10-28-2015, 09:52 AM
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NADA and other similar companies can be very frustrating and even misleading. Dealers don’t use those books to value cars. The most common “book” used in the car industry is Galves which is typically 5+% lower than NADA. The problem is that you consult NADA, think you’re doing your homework correctly, get a trade-in value you think SHOULD be reasonable, get hit with a trade-in offer thousands less and think you’re getting ripped-off when you’re not. I blame NADA for being so inaccurate and misleading.

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post #24 of 83 Old 10-28-2015, 11:03 AM
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NADA and other similar companies can be very frustrating and even misleading. Dealers don’t use those books to value cars. The most common “book” used in the car industry is Galves which is typically 5+% lower than NADA. The problem is that you consult NADA, think you’re doing your homework correctly, get a trade-in value you think SHOULD be reasonable, get hit with a trade-in offer thousands less and think you’re getting ripped-off when you’re not. I blame NADA for being so inaccurate and misleading.
Exactly. KBB, Edmunds, NADA, etc are helpful resources and nothing more. Last time I checked these institutions of the Used Car Market do not buy cars.

All the time I have customers say "KBB for my car is $X,XXX-$XX,XXX". I am always so tempted to say "great, take your car on down to KBB and have them cut you a check. Come back here and buy this car when you've done so." I'll give you KBB for your trade if you buy my car for MSRP+.

The fact is a used car manager has been buying and selling used cars for a very long time. It's literally their job. They use auction reports that show what the car is actually selling for to base their trade appraisals.

Don't like what they offer? Sell it yourself. You are paying for the convenience of trading in your vehicle. End of story.
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post #25 of 83 Old 10-28-2015, 11:09 AM
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Originally Posted by mikekf7 View Post
So I've been looking at trading in my MSM '13 EX sedan and figured I'd take it to carmax as a basis point for negotiations at the dealership. It only has 19k miles and everything is flawless not even a scratch on the exterior. Appraisal came back at $16,000. Seems a little low to me.
If it really is a little low, that's no reason to slam them. If you said ridiculously low I could understand you warning people not to waste their time. I agree with others, not a bad price and if you want more sell on your own. I never understood why people traded and took a hit until I got a wife and kids. I don't sell cars anymore to individuals, too many crazies out there.

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post #26 of 83 Old 10-28-2015, 11:10 AM
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Originally Posted by Baldeagle View Post
NADA and other similar companies can be very frustrating and even misleading. Dealers don’t use those books to value cars. The most common “book” used in the car industry is Galves which is typically 5+% lower than NADA. The problem is that you consult NADA, think you’re doing your homework correctly, get a trade-in value you think SHOULD be reasonable, get hit with a trade-in offer thousands less and think you’re getting ripped-off when you’re not. I blame NADA for being so inaccurate and misleading.
Interestingly enough - when I traded my last car a year ago the car salesman said they base the trade offer not on what they think they can sell it for directly - but rather what they can get for it via auction.

In other words - they look at what cars of that year and in that shape are selling for at auction and they base their offer off that. The offer doesn't have anything to do with what they can sell it for on their lot.

Now - of course some dealers will probably sell it on their lot, depending of course on a number of factors - but many want a quick turnaround via auction even though they likely make less money.

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post #27 of 83 Old 10-28-2015, 11:30 AM
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Originally Posted by Baldeagle View Post
NADA and other similar companies can be very frustrating and even misleading. Dealers don’t use those books to value cars. The most common “book” used in the car industry is Galves which is typically 5+% lower than NADA. The problem is that you consult NADA, think you’re doing your homework correctly, get a trade-in value you think SHOULD be reasonable, get hit with a trade-in offer thousands less and think you’re getting ripped-off when you’re not. I blame NADA for being so inaccurate and misleading.
Yup. Galves is the book lol..all of the KBB and NADA stuff is bull..I laugh when I hear ppl say..u
Yeah..my car on KBB...is worth so and so...most ppl do not know about galves..in quite a few instances..someone's car be listed in the galves book for 13500. And the dealer will offer them 11 then if they keep the car for their own inventory they'll ask 16995...that practice is so common...I feel once I am armed with my figure from galves...I'm golden lol..I have dropped quite a few jaws once I say..wait a min..galves has my car listed at xxx price...then the ol lemme go talk to my mgr I'll be right back..then mysteriously your then offered the correct value(in some cases)...I traded a 2011 lx 5MT and a 2013 6MT...both cars were leased..the dealer kept the cars for themselves..both cars had asking prices 3500-4000 above what they gave me..that's how it goes at these dealers
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post #28 of 83 Old 10-28-2015, 12:27 PM
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Originally Posted by Baldeagle View Post
NADA and other similar companies can be very frustrating and even misleading. Dealers don’t use those books to value cars. The most common “book” used in the car industry is Galves which is typically 5+% lower than NADA. The problem is that you consult NADA, think you’re doing your homework correctly, get a trade-in value you think SHOULD be reasonable, get hit with a trade-in offer thousands less and think you’re getting ripped-off when you’re not. I blame NADA for being so inaccurate and misleading.
Someone who works at a dealer who posts to another site once told me the Black Book is usually pretty accurate as well.

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post #29 of 83 Old 10-28-2015, 12:45 PM
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Many 'books' are very region specific. Dealers and banks will use multiple books and select the book that best works for them......whether it's buying or selling or working with the bank to get the contract bought.

Dealers today use software that includes all book values and local market auction pricing.

What's clean and perfect to the seller may not be a clean and perfect to the buyer. The gross $4K margin called out here is much less due to reconditioning and shop costs.....typically ~$500-1000 per car. The selling dealer is also required to safety check and repair each car.....something the private seller doesn't need to do.

I think the amount offered for the trade + the tax credit was reasonable.....certainly not a waste of time as described in the title. Good luck to the OP.
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post #30 of 83 Old 10-28-2015, 02:12 PM
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Someone who works at a dealer who posts to another site once told me the Black Book is usually pretty accurate as well.
Black book reports actual auction sales. It doesn't get any more accurate than that. Virtually every dealer uses it for trade then displays how much below KBB the selling price is. IMO KBB lists fantasy high prices. Good for dealers who retail cars.


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