Selling Your Car? Here are the Top 3 Questions Customers Ask CarMax
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1. How much is my car worth?
When you’re ready to sell your car, it’s smart to do a little research. There are quite a few online resources (including kbb.com) that can provide you with general guidance and help you estimate your car’s value.
As the nation's largest retailer of used cars, CarMax appraises millions of cars every year. CarMax takes the following into account when evaluating a car: mileage, the condition of the vehicle, the vehicle’s accident history, and how well it’s been maintained, inside and out. “Minor imperfections have little impact, but major defects like frame or flood damage do,” says Tom Marcey, CarMax’s vice president of regional merchandising.
After-market modifications and accessories—like a spoiler or a unique paint color—might make your car more distinctive, but may also limit your car’s market appeal.
To get an accurate idea of what you can sell your car for, Marcey suggests starting with a written appraisal from CarMax or another company you trust.
2. Won’t I get more money for my car if I sell it myself?
Selling your car through Craigslist or similar websites may get you more money for your car. But for many people, the time it takes and the uncertainties of dealing with strangers is not worth the hassle. “Our customers come to us because they want an easy and convenient way to sell their car,” explains Marcey.
Marcey also reveals that many customers come to CarMax for an appraisal as a starting point. “One reason our appraisal offers are good for seven days is because we know our customers may want to ‘shop around’ and compare other offers to ours,” he says. “And that’s okay!”
3. Is my appraisal offer negotiable if I use my car as a trade-in?
While Marcey points out that your appraisal offer at CarMax is the same whether you buy a car from them or not, he agrees that “flexible” trade-in values are standard practice for many in the industry. “If you got a generous price for your old car, it may mean you paid too much for your new car.”
Doing a little research ahead of time using online resources and getting an appraisal done by a reputable company like CarMax can help you sell your car with confidence.
Selling a car, just like buying one, is one of the biggest financial transactions you may make. CarMax appraises millions of cars every year. Visit carmax.com to schedule your own appraisal and find out what you need to bring with you.