Trade in/Private Sales prices

[designatedrhythm]

Ive never sold a vehicle privately but it seems like a huge hassle vs trading or selling to CarMax.

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[pa-outdoorsman]

Ive never sold a vehicle privately but it seems like a huge hassle vs trading or selling to CarMax.

Exactly. Why anyone would want to deal with the public unless absolutely necessary is beyond me. If it's a HUGE price difference between what you can get selling privately vs. just selling to a dealer, then sure, I get it. But if it's within a couple grand, I'd much rather just sell to a dealer and be done with it, quick and easy and no hassle.

 

[Ponchsox]

I’ve sold two vehicles to CarMax. It literally takes 30 minutes to get a check. Selling privately you have to go the DMV and do a bunch of paperwork then handle the payment. It’s not worth my time.

 

[megapixle]

Not sure Carmax / Carvana will continue buying Mav Hybrids with this new recall problem.

 

[grumpyunk]

Wow, couple grand to do DMV stuff? I don't earn that much that I could pass that difference up. I have never done a trade-in when making a purchase at a dealer, and have always sold private party.
Dealers will offer something near KBB trade value, and PP is a step above that.
I have only had to go to a bank to get the title on a Mustang where the owner was under water, and he paid off his loan, and I gave him money to hand over to the bank.... I went to the DMV all by myself as purchaser. There is no need to go to the DMV as a seller, except to record removal of any liens, which I think a notary can do.
What have I been missing?
As far as Carvana and the other retailers, some are likely headed for bankruptcy as they can no longer get loans to buy, and sales are sluggish. Most have slowed down on their buying spree, if they want to be in business in the future. Some will get stuck with depreciating stock on the lot that they paid too much to acquire, and they will have to cut prices to move the metal and get out from under their debt load.
When you get to larger dollar transactions with private party, a visit to the bank at the time of sale might be a good idea to insure that 'certified' check was not done on a home laser printer...
I'd sooner have the truck than the rubber dollars we now have in our pockets. A pile of dollar bills is worth less each and every day, perhaps faster than the trucks will depreciate...
tom

 

[AutobahnSHO]

Everyone knows that CarMax/ Carvana/ etc... are overpriced compared to private or some dealers, but they like the set price tag, hassle-free experience.

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