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Carmax vs. Private

Old Jun 30, 2013 | 12:09 PM
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Default Carmax vs. Private

Hi,

My wife and I are expecting a baby in December and I'm thinking of selling my s2000 and moving into something a little more practical for a family. I love everything about the s2000 so I think it's going to be a hard car to replace but I'm looking at the Subaru Impreza WRX (2012 ed.) as a possible replacement. It's still fairly sporty and it has a backseat/trunk. Does anyone have any opinions on moving from the s2000 to the WRX? I live in Chicago so I think the added 4 wheel drive would be a welcomed edition.

Also, I've never had to sell a car before so I'm not sure what the best approach is e.g. private vs. something like carmax. It's a 2007 s2000 with about 24k miles on it. Drives and looks brand new (minus a few minor scratches on the front bumper). Any thoughts on if Carmax would give me fair value on it or should I head over to auto trader/the private route? Any idea what it's worth from a private sale? I did a quick look on CarMax and Autotrader and they seem to be going for about $24-$26k. Is $20k a good offer for it or should I try for more?
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Old Jun 30, 2013 | 12:23 PM
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CarMax is all about convenience but you pay for it, expect a low ball. You will always get more in a private party sale but might take longer to get your price. I'd list it in the $23k range and look to get about $21-22k.
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Old Jun 30, 2013 | 01:56 PM
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Carmax won't pay you more. But, like stated its very convienent. Call them as schedule an appraisal and less then 30min you'll have a paper with their offer that is good for 7 days. See where your at.
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Old Jun 30, 2013 | 02:16 PM
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Just FYI, I had Carmax appraised my 06 back in January when I was thinking about selling it (car had about 25k miles on it at the time) and they offered me $17500.

Sent from my SAMSUNG-SGH-I337 using Tapatalk 2
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Old Jun 30, 2013 | 02:32 PM
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If you are thinking the carmax route- don't
You would benefit more by trading it in at a dealership if the car you want can be located at one. They will give you more for your trade in (plus you will save a lot on the taxes for the new car) plus they may be negotiable on the price of the new vehicle as well. Carmax will lowball the crap out of you and are not negotiable on their car prices.
Ultimate profitability is to sell private and buy private.
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Old Jun 30, 2013 | 02:39 PM
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Originally Posted by dc2-2-ap1
If you are thinking the carmax route- don't
You would benefit more by trading it in at a dealership if the car you want can be located at one. They will give you more for your trade in (plus you will save a lot on the taxes for the new car) plus they may be negotiable on the price of the new vehicle as well. Carmax will lowball the crap out of you and are not negotiable on their car prices.
Ultimate profitability is to sell private and buy private.
Thanks for the feedback everyone, great info.
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Old Jun 30, 2013 | 02:45 PM
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Summer is a good time to sell a vert.It will take a few weeks ( maybe),but always buy/sell as a private party.

\rlr
Carolina
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Old Jun 30, 2013 | 03:47 PM
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Originally Posted by redlineracing
Summer is a good time to sell a vert.It will take a few weeks ( maybe),but always buy/sell as a private party.

\rlr
Carolina
Couple of questions, what is the best way to list it privately? Auto-trader? Craigslist? Also, what is the best form of payment. How do I ensure I'm not getting ripped off ( e.g. a counter fit cashiers check)?
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Old Jun 30, 2013 | 04:26 PM
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Craiglist is free so I would try that first, it's where I found my 06 GPW. Just make sure the cashiers check is from a reputable bank or credit union and if possible be there where the buyer gets the funds.
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Old Jun 30, 2013 | 05:30 PM
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I would first let family & friends know it's for sale first.Selling local has always been good to me.Maybe a local ad in the local paper,and among your facebook friends.

Cashiers check from a local bank/CU is always best.On sale day,meet them at the bank and verify that it's a real check before you hand over the keys & title.

\rlr
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