Used car value discrepancies

[Clarkdonbran]

My hybrid Mav approaches so I got some quotes for my current car, a 2011 Kia Soul, and got 2 different quotes for its value. Carvana quoted $4825 and Carmax $6500. I thought this might be good for the community to know.

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[OB1e]

Run the car at nadaguide.com. my 2017 sonata was valued highest at 22975. It had bald tires, tank was empty, and the inspection was expired for 3mos. Carmax gave me 20600. Bye felicia!

 

[BILLNOROVILLE]

I always search Craig's List within 150 miles from home. Look for comparable vehicles. Your vehicle will fit somewhere in that group most of the times.

I have sold over 100 vehicles counting cars and motorcycles. My record is unbroken. First one that looks at it buys it. Why.... I make it spotless. I fix what I can. I take lots of pictures and I know where it should be priced based on my first line above. My 2004 Mustang Cobra I had for 12 years with 33k miles sold in 1 day for $25k. I just cleaned up my daughters 2005 Civic she wants to sell but she loaned it to me till my Maverick arrives.... In a month, I have detailed the trunk, motor, seats, carpet, waxed it, fixed a wheel bearing and replaced the timing belt, repainted the hub caps. KBB says 6-7k value now instead of 1500.

Cleaning takes little money but lots of time but it that is all you can do it may pay off.

Carvana offered the most for my 2016 Volt at 16704. They bought it the next day.

 

[bombast]

Yah, the chip shortage has made the used car market a mine field. I'm sure such disparities is from whatever multiplier every company has applied to its traditional calculations being different.

I've cleverly bypassed this issue by owning a car that's head gasket has catastrophically failed a month before my Maveric got here.

 

[Clarkdonbran]

I can’t argue with that. I’m not willing to invest any more time or money in my current car though. It’s served it’s purpose and now it is time to move on.

 

[RonFLA]

Yup, the used car market is scorching hot, with all the dealerships low on inventory and plenty of demand for vehicles.

Try all the virtual car dealer apps. and take the highest offer. I sold my Nissan Leaf recently with Carvana and they didn’t even ask a question, when they picked it up. They gave me the check and I signed over the title, off it went. The least aggregation I have ever experienced, selling a car. I am sure most are similar now a days. Don’t be afraid to sell when the market is hot, now is the time!

 

[Big_T]

I sold my Jeep to Carmax back in July. Their offer was $1200 more than Carvana.

 

[TerryWalker]

Maverick Forum Participants - I've read this thread with interest because, well, because I may learn just a little more than know now. However, I think a lot of us are more interested in what you guys with tea leaves, bones, crystal balls, and plain horse sense foresee what the used car market look like in March - June. That timeframe is when many of us trust our Mavericks will be delivered, based on our weekly views of what I have labeled "Thankful Thursday."

Your optimism (pessimism) for those future months may help many of us decide to wait and use the trade-in/sales route at delivery or sell now and buy a jalopy to tide us over. Predictions Please!!! Thanks to Everyone.....

 

[GraeyTom]

Maverick Forum Participants - I've read this thread with interest because, well, because I may learn just a little more than know now. However, I think a lot of us are more interested in what you guys with tea leaves, bones, crystal balls, and plain horse sense foresee what the used car market look like in March - June. That timeframe is when many of us trust our Mavericks will be delivered, based on our weekly views of what I have labeled "Thankful Thursday."

Your optimism (pessimism) for those future months may help many of us decide to wait and use the trade-in/sales route at delivery or sell now and buy a jalopy to tide us over. Predictions Please!!! Thanks to Everyone.....

I went the “sell now” route as I purchased my Jetta for 16,500 and sold it for 23,400. I now feel like a moron driving a collectible RHD car that is 28 years old with 9k miles everyday now. Wish I had waited and now I’m searching for a jalopy.

 

[huunvubu]

I started this thread a while ago:

Trading-In/Selling Outright/Selling to Online Companies - Tell Your Story

Take a look at it as it has some interesting stories

 

[KansasFatMan]

My hybrid Mav approaches so I got some quotes for my current car, a 2011 Kia Soul, and got 2 different quotes for its value. Carvana quoted $4825 and Carmax $6500. I thought this might be good for the community to know.

for some reason Carmax is offering way more than anyone else, they gave me $5000 more than the dealer could offer.

 

[huunvubu]

for some reason Carmax is offering way more than anyone else, they gave me $5000 more than the dealer could offer.

Why do you think dealers would offer competitive offers?

Remember these same dealers are charging outrageous ADM fees and high priced addendum stickers.

The addendum or dealer add-on sticker is a dealership-created sticker that will contain various high profit and/or overpriced accessories or products to add profit to the vehicle for sale.

I sold my 2015 Honda Fit Ex to Carvana for $16,523.

Here is what dealers offered:

When I was at AutoNation Honda in Lewisville TX to have my state inspection done signs were all over the dealership saying "They wanted to buy My Car" or that is what they implied.

Their initial offer of $10,000 was an insult which I stated. They then countered with $11,000 which I then said was still an insult and then walked out the door. On the way home I got a text from them to come back and they would give me $12,500. So in a matter of 10 minutes their offer went up 25%.

At the AutoNation Ford Frisco TX dealership where I had just signed my "Buyers Order" I asked for them to give a current valuation for trading-in. They only offered $11,750.

As you can see dealers want to rip you off both selling and buying from you.

 

[FriscoTXJoe]

Why do you think dealers would offer competitive offers?

Remember these same dealers are charging outrageous ADM fees and high priced addendum stickers.


As you can see dealers want to rip you off both selling and buying from you.

I can't stand car dealerships as much as anyone. I get it.

But do you also understand dealerships employing 50-100 people used to selling 200 cars a month are now selling 10? They are struggling to stay in business.

Nobody forces anyone to pay outrageous fees or take a low ball offer on a trade in. That is simply a choice people make.

 

[LadyMav]

I always search Craig's List within 150 miles from home. Look for comparable vehicles. Your vehicle will fit somewhere in that group most of the times.

I have sold over 100 vehicles counting cars and motorcycles. My record is unbroken. First one that looks at it buys it. Why.... I make it spotless. I fix what I can. I take lots of pictures and I know where it should be priced based on my first line above. My 2004 Mustang Cobra I had for 12 years with 33k miles sold in 1 day for $25k. I just cleaned up my daughters 2005 Civic she wants to sell but she loaned it to me till my Maverick arrives.... In a month, I have detailed the trunk, motor, seats, carpet, waxed it, fixed a wheel bearing and replaced the timing belt, repainted the hub caps. KBB says 6-7k value now instead of 1500.

Cleaning takes little money but lots of time but it that is all you can do it may pay off.

Carvana offered the most for my 2016 Volt at 16704. They bought it the next day.

Great advice! I need to sell my 05 Tacoma, have never sold a vehicle to a private party individual, so I'm hoping for one of the Carmax, etc to buy and take care of the paperwork.

 

[MLowe05]

Have a written offer for $26,000 on our 21 Forte GT with 7,500 miles from Vroom. Carvana offered $25,500. Haven't been to Carmax yet.

We paid $23,500 for it in February.

Odd thing is that the dealer we bought from has 3 new ones for sale just like ours right now, all for MSRP which is $24,575.

My hybrid is a long way off but might sell the Forte now and live with one car.

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