Selling your car is a huge financial transaction that requires proper planning. You have various options while selling, including selling online, privately, and through trade-in. Deciding on the best option may be challenging if you are not well informed about the car selling process involved in the various options.
CarMax is a popular place for buying and selling cars online. The dealership has numerous locations worldwide, but some people feel it is not a good choice for selling your car because of the following reasons.
Lack of flexibility
Reliable online platforms offer numerous conveniences when looking to sell your vehicle. These include the elimination of great hassles that accompany the endeavor. You can sell my car beat CarMax at the comfort of your home instead of searching for the best car seller by moving from one lot to another. However, CarMax lacks flexibility. (lambertsfruit.com)
CarMax offers only 7 days of a guaranteed offer. Having the offer reappraised often gets you the exact number, or you might end up getting less. The offer will only go up if the dealership finds a way to get the initial amount along the way. (www.ghgossip.com) You may even be required to spend money on repairs to raise the car value before selling it to them.
Unfair trade-in values
CarMax doesn’t base its values on other car shopping resources. They offer a price based on:
- Mileage- the dealership does not retail having over 130,000 miles. If this describes your vehicle, it is going to a wholesale auction. CarMax often makes very little from such sales. The company judges every appraisal accurately and uniquely to ensure the price is neither too high nor too low.
- Inventory- CarMax is known to deal with numerous cars at the same time. If you are looking to sell my car beat CarMax having more value, you may end up selling at unfairly low prices if they have a bunch of similar cars in the company for sale. The trade-in value is dependent on demand. Low demand means your vehicle will sit on the lot longer; hence they will give you a very low offer.
- CarMax database- this car-buying option pulls out information about a vehicle’s worth based on their own unique database. This means researching the market value for your used vehicle will not help you get a better value from them. They offer only what the car is worth to them. You are more likely to get better offers by choosing other private selling options rather than selling to CarMax.
The dealership makes the sell my car beat CarMax process simpler, and is trustworthy when it comes to payment. In addition, they sell cars that are also beyond repair. However, this does not justify the value you lose during the trade-in. Using another reliable broker ensures you receive transparency with respect to your vehicle’s value.
Is CarMax a good choice?
As you have read above, it is clear that CarMax is not a good choice to sell your used vehicle, especially when you want the best trade-in value. You should rely on other reliable brokers with better offers, flexibility, and transparency.