There’s no easy answer to the question of whether you should sell your car to Carmax or a dealer. Ultimately it depends on a variety of factors including the type of car you have its condition how much you need for it and your personal preferences.
If you have a luxury car or a classic car you’ll probably get a better price selling it to a private buyer or through a specialty dealer. But if you have a more common car that’s in good condition you might get a better price at Carmax.
Here’s a more detailed breakdown of the pros and cons of each option:
Selling to Carmax
Pros:
1. Carmax offers convenience and peace of mind. They handle all the paperwork and will even pick up your car from your home or office.
2. You’re guaranteed a fair price with Carmax. They use a sophisticated pricing system that takes into account a variety of factors such as the car’s make model mileage and condition.
3. Carmax has a no-haggle policy so you don’t have to worry about negotiating with buyers.
Cons:
1. Carmax doesn’t always offer the highest prices. Because they have to resell the cars they buy they need to make a profit so you might not get as much as you would selling it yourself or through a dealer.
2. Carmax has a limited selection of cars. They focus on newer low-mileage vehicles so if your car doesn’t fit that criteria they might not be interested.
3. Carmax doesn’t offer financing so if you need to finance your next car purchase you’ll have to go through a bank or another lender.
Selling to a Dealer
Pros:
1. Dealers are usually willing to pay more for trade-ins than Carmax. This is because they can resell the car for a higher price or use it as a “loss leader” to sell other cars.
2. Dealerships have a wide selection of cars so even if your car isn’t the newest or most popular model they might still be interested.
3. You can usually negotiate the price of your next car purchase when you trade in your old car. So if you’re looking to get a good deal on your next car trading in at a dealer might be the way to go.
Cons:
1. Selling your car to a dealer can be a hassle. You might have to negotiate with multiple salespeople and deal with a lot of pressure to buy a new car.
2. Dealerships typically don’t offer as much for trade-ins as you would get selling the car yourself.
3. You might not get the exact car you want when you trade in your old car. The dealer might not have the model or color you’re looking for in stock so you might have to settle for something else.
Is it better to sell my car to a dealer or CarMax?
It depends on your individual situation.
How much will I get for my car if I sell it to a dealer?
The dealer will offer you a trade-in value which is typically lower than the market value.
How much will I get for my car if I sell it to CarMax?
CarMax will give you a fair estimate of your car’s value which is typically higher than the trade-in value offered by dealers.
What is the process of selling my car to CarMax?
The first step is to get an estimate of your car’s value online or at a CarMax location.
Once you agree to sell CarMax will appraise your car and give you a check on the spot.
What is the process of selling my car to a dealer?
The first step is to research your car’s value and find a fair price.
Next you take your car to the dealer and negotiate a price.
The dealer will then inspect your car and offer you a trade-in value.
If you agree to the offer you will sign over the title and keys and receive a check or the agreed upon amount.
How do I find out my car’s value?
There are a few ways to find out your car’s value.
You can look up the Kelley Blue Book value use an online calculator or get an estimate from a dealer or CarMax.
What do I need to bring when I sell my car to CarMax?
You will need to bring your car the title and your driver’s license.
What do I need to bring when I sell my car to a dealer?
You will need to bring your car the title and your driver’s license.
How long does it take to sell my car to CarMax?
The process usually takes around 30 minutes.
How long does it take to sell my car to a dealer?
The process usually takes around an hour.
Do I need to get my car serviced before I sell it?
No you do not need to get your car serviced before selling it to CarMax or a dealer.
What if I owe money on my car?
If you owe money on your car you will need to pay off the loan before you can sell the car.
What if my car is leased?
If your car is leased you will need to contact your leasing company to find out the process for selling the car.
What forms do I need to fill out to sell my car?
When you sell your car to CarMax they will take care of all the paperwork for you.
If you sell your car to a dealer you will need to fill out a Bill of Sale.
What are the benefits of selling my car to CarMax?
Some benefits of selling your car to CarMax include receiving a fair estimate of your car’s value a quick and easy sales process and no haggling with dealers.
