Carmax was awesome. I was moving across country and as we were going to be living in an urban environment, the missus and I decided we could ditch my car, the gas bill, and the insurance payment and get some cash in return. But I needed use of my car right up until the time of the move. So selling it, doing paperwork to transfer title and all of that seemed daunting. I didn’t want to deal with Craigslist scammers but I wanted more money than what I would have gotten from a dealer.
Carmax was the sweet spot. They offered me a very good price on my Corolla - I might have been able to squeeze out a little more with a private buyer but not much. The best part is, they do all the paperwork. I’d follow up just to be on the safe side to make sure that you’re not on the hook legally for whoever assumes ownership of the car, but they did just fine in my case. Highly recommended.
No, I don’t have a financial stake. They were almost too good to be believed but they worked fine for me. The only problem is that they’re not everywhere. There’s usually one or two Carmax locations for every major metropolitan area. You might have to drive a bit and arrange for someone to bring you back to your place.
just a friendly note- Carmax doesn’t operate in all 50 states, so don’t ASSume it’s an option. this irritated the hell out of me a couple of years ago when I wanted to sell a car, and all I got was “Carmax! Carmax! Carmax!” Yeah, no, I’m not going to drive 6+ hours for that.
You should only buy a car from a reputable dealer or somebody you know. That way, in case there’s some problem or the paperwork is incomplete (bad or voided title, for instance), they can help you straighten it out. If you buy a car off Craigslist, and they give you a bad title, then you’re stuck arguing with the DMV that this is your car even though your title is no good, because you can no longer get a hold of the stranger on Craigslist.
That’s why (at least in Pennsylvania) the final meeting with the buyer should be at a notary. For a small fee, they do all the paperwork and they know what is needed to fix minor paperwork problems.
In these two quotes, we see a key choice facing those who want to sell a car: convenience, or cash.
Yes, Carmax will probably* buy your car. Yes, it will be a fast and hassle-free transaction. But one thing that no-one has said is that they absolutely will not give you as much as you would get if you are willing to be patient and wait for a private sale.
On the other hand, as you’ve discovered, selling it yourself can involve all sorts of hassle, wasted time, and dealing with idiots and scammers. You need to calculate what’s more important to you: the money, or the time. If you have plenty of spare time, and don’t need a really quick sale, but really want as much money as possible, then you might need to suck it up and deal with the hassles. If you can afford to drop 20 or 30 percent of your desired price, and time is a factor, then Carmax is probably the way to go.
Carmax generally want cars in decent condition. They don’t buy beaters. You don’t say what sort of car you’re selling.
Nobody who contacted me on Craigslist showed up.
Not.
One.
Goddam.
Sunnava.
Bitch.
I put a sign ,made from Dayglo Pink posterboard, with “CAR 4 SALE” on it in black marker, & sat with the car in the Credit Union parking lot.
And somebody just drove up & bought it.
$1200, from an asking of $1400.
I also bought sausage biscuits for everybody in the CU, & everybody who looked at the car, and I ate 3 myself, & let the buyer take home the cooler i kept the biscuits in, plus 4 leftover biscuits.
Carmax bought a car from us for $200 more than we were asking as a private sale. No aggravation or hassle, and we were in a time crunch. Well maintained 2009 Nissan Versa.
When we reached Florida we bought a replacement car from Carmax. 2013 Hyundai with less than 25k miles. I recommend the company highly if you have one handy.
If you were happy with the price you got from Carmax, i think that’s great.
But the main takeaway from your story is that you were asking below market value in your private sale. Carmax isn’t a charity, and they’re only going to buy your car from you at a price that allows them to turn around and sell it to someone else for a profit.
There’s nothing wrong with that; everyone’s entitled to make a living. It doesn’t make Carmax a scam, and i’m not suggesting that people shouldn’t use Carmax. The company provides a valuable service for people who want to sell their car, but who don’t want to deal with the time and aggravation required in order to sell it themselves. But they will, basically, always give you less than what your car will fetch on the open market.
Now, Jan, Carmax worked hard for what it got. Just because they’re a successful car company doesn’t mean you have to be jealous. You should find something you’re good at it, and if you work at it, you’ll be just as successful as Carmax.
That’s an awfully broad brush to be painting an issue that varies in all 50 states. Where I live all that needs to be presented at the DMV is an original title signed by the previous owner and the new owner - no notary, no bill of sale, nothing but the title. The original title will indicate whether there is/was a lien and if so, if it has been released. If you want to be super cautious, purchase a vehicle history report through any number of reputable vendors (a partial list can be had here Research Vehicle History | VehicleHistory). That report will let you know if the vehicle has been reported stolen or wrecked and whether a replacement title has been issued. It costs $5-10, cheap insurance.
With just a little knowledge and caution it is a safe transaction.