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Used Vehicle Market

RebellaE

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I recently started to research what my current vehicle is worth (2010 Ford Flex, 133k miles). I looked at Edmunds and KBB. Both say my car is worth between 3-4k. At that price, I'd probably take the dealer offer/save on the sales tax. But, then I look up the classifieds in my area - and the cheapest I see for 2010 Ford Flexes is $7000 and those have like 250k miles on them. Ones around 100k miles are priced at up to $10k. It seems like the traditional car pricing guides haven't caught up with the current market at all.

So, where is everyone doing their used car research? I've had good luck selling privately, but don't want to over price it and end up showing it to tons of people or underprice it and get less than I should. I would assume CarMax would sell something like mine at auction, not keep it for their lot, so I would guess they won't make me a good offer...so it might not even be a good starting point.

I probably won't be selling my Flex until Spring (unscheduled XLT Hybrid/Lux/360). But I'm hopeful that the used market won't crash between now and March. 🤞
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Darnon

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Over 100k miles and >7 years old is pretty low value as a trade to dealer because it becomes harder to find banks to finance a subsequent buyer. Also the Flex wasn't a super hot seller; its styling is kind of divisive despite otherwise being a decent 3-row budget Expedition alternative.
 

Rob Cactus Gray

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Sell it your self, It will go quick. I don’t see the used market changing anytime soon.
 

Bret Maverick

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I'm going to sell my 05 Ranger Edge after I get my Mav. It's got 46k miles on it and the best on-line offer I have received was from VROOM.
 

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teamsauce

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I was offered $6k more for my 2017 Mustang at the Ford dealership here in town over CarMax. They hadn't had a used one in months and got more than I paid for it due to the used car market. Now the wife and I are sharing her Kia until the Maverick arrives in December.
 

VetteNZMan

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In the past few months I've sold - due to getting Mav and good market:
  • 2005 Camry LE with 340k miles for $2200, sold by CL but took 3 weeks
  • 2018 Kia Stinger GT1 with 15k miles for $36000 - had to really push for this, purchased Feb 2018 for $40k, sold to Kia dealer
I got quotes from Carmax, Vroom, Carvana, CarGuru, Cars.com......
 

V2WIN

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Over 100k miles and >7 years old is pretty low value as a trade to dealer because it becomes harder to find banks to finance a subsequent buyer. Also the Flex wasn't a super hot seller; its styling is kind of divisive despite otherwise being a decent 3-row budget Expedition alternative.
My brother has a 2010 Lincoln MKT twin turbo v6 80+k miles . Dealers only want to give $4k. He suspects they're wise to the turbo & sludging problems. He proved he had new turbos installed but no deal. He can't give his away.
 

fishinmagician

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I sold my 2010 flex Ecoboost 150,000 miles for $4700. Nobody wants the flex đź’Şđź’Şđź’Ş
 

huunvubu

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I'm going to sell my 05 Ranger Edge after I get my Mav. It's got 46k miles on it and the best on-line offer I have received was from VROOM.
Unless you are in a state with no sales tax on vehicle purchases trading in a vehicle on a purchase saves the sales tax on your trade-in.

Example here in Texas with sales tax of 6.25%:

New Vehicle cost $26,500
Trade-in value $12,500

Sales Tax on New Vehicle with no trade-in: $1656.25
Sales Tax on New Vehicle with trade-in: $875

Savings by trading-in: $781.25

Now if your dealer offers a trade-in value of $11,718.75 (93.75% of $12,500) or less than the firm $12,500 offer the better deal would be to sell it to VROOM and buy the Maverick with no trade-in.

I currently have a firm offer of $12,500 for my 2015 Honda Fit EX from a local Honda Dealership. When December rolls around and my Maverick is about two weeks from delivery I plan to again get offers from online car companies and dealerships and at the dealership where I will be buying my Maverick I will see what they offer for a trade-in and if too low see if they will match the other offers. The final price they offer for a trade-in and the math will determine if I trade-in or sell to the highest offer.
 
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Bret Maverick

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Unless you are in a state with no sales tax on vehicle purchases trading in a vehicle on a purchase saves the sales tax on your trade-in.

Example here in Texas with sales tax of 6.25%:

New Vehicle cost $26,500
Trade-in value $12,500

Sales Tax on New Vehicle with no trade-in: $1656.25
Sales Tax on New Vehicle with trade-in: $875

Savings by trading-in: $781.25

Now if your dealer offers a trade-in value of $11,718.75 (93.75% of $12,500) or less than the firm $12,500 offer the better deal would be to sell it to VROOM and buy the Maverick with no trade-in.

I currently have a firm offer of $12,500 for my 2015 Honda Fit EX from a local Honda Dealership. When December rolls around and my Maverick is about two weeks from delivery I plan to again get offers from online car companies and dealerships and at the dealership where I will be buying my Maverick I will see what they offer for a trade-in and if too low see if they will match the other offers. The final price they offer for a trade-in and the math will determine if I trade-in or sell to the highest offer.
Was going to trade mine in for that reason, however the dealer low-balled me IMO.
 

slashy42

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You will always make a lot more private selling, especially on an older and higher milage vehicle. The difference your seeing in offers from CarMax and other dealerships vs what they sell in ads for is because those dealerships want to make several thousand in profit to make it worth their time. On a car that's worth 20k that might not seem like much but on one that's selling for 5-7k... It's a huge percentage.
 

TheShark

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I sold my 2020 Mazda CX-30 to Carvana for more money than I paid for it. Even when I figured all the cost of ownership, insurance, gas, and the 1 oil change I did I still came out with money in pocket. What a crazy market.

I can't recommend Carvana enough for selling a car, the whole process was smooth and they were true to their word. Never left my house.
 

CoryDallas8123

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Anybody want to add a 2008 Audi A4 with 73,000 miles to their collection? It gets worse mpg than the 2.0 ecoboost. She’s a beaut.
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