CARMAX to Ditch a Car?

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08-17-2005, 08:48 PM
POS Racing

CARMAX to Ditch a Car?

I got a letter today from Ford Motor credit reminding me that my 2003 Expedition is due back in November (Red Carpet Lease), well I would rather not wait until November to ditch this thing. So I was thinking about trying CARMAX and seeing what they would give for the thing, so maybe I could get out of it a bit earlier than planned. If I can walk away even that works for me!

I did a Kelley Blue Book check on it and it looks like average trade-in value and the residual may actually be close. I’m assuming CARMAX pays near trade-in is that a correct assumption?

So has anybody ever used CARMAX to get rid of a car?

TIA
08-17-2005, 08:51 PM
jolberry

From what I have heard, Carmax gives you close to Trade in Value when you sell it to them. I think they give you a free quote that is good for 300 miles. Worth a try IMO.
08-17-2005, 08:54 PM
altiain

You've got nothing to lose but an hour or so of your time to find out.

My onlt experience with CarMaz has been with older specialty cars (lugnutjon's '93 3000GT and my '93 RX-7), and in both cases their offer wasn't anywhere near even wholesale, let alone retail value on the car. For instance, they offered me $7500 for my FD - I sold it a week later for $13,500, and had a deposit wired to me less than 72 hours after I put it up for sale.

Still on a more common, newer vehicle (one they could feasibly sell of their lot easily, unlike the FD and the 3000GT), they might be willing to give you a more realistic figure.
08-17-2005, 09:14 PM
OzCop

My one experience with them was awful. Four years ago I took my 99 GMC SLT AWD Suburban in to see what they would give me on trade for a Dodge Diesel PU. This Suburban was loaded to the gills, with me the original owner, and had only 55K miles at the time, and was spotless, never been damaged, red with black rub strip and fender flares, all factory stuff including leather, and a sticker of 41K when purchased in late 99. The bastards offered me 9500 bucks for it on trade for a 33K truck! The book value of my truck was nearly 19K at the time.
I was so pissed I wanted to punch someone out. I haven't been back, and most likely never will... I kept the burb another 18 months, put another 15K miles on it, and still got 15K on trade for the Duramax Diesel... CarMax sucks in my opinion... :ncool:
08-17-2005, 11:38 PM
Treibenschnell

If they'll take it off your hands for nearly it's book value, why not?!
08-18-2005, 06:42 AM
Miatamoto

In a last ditch effort to sell my integra a while back I took it to Carmax for an estimate, it was in great shape and didn't have any problems. They offered me $3K for it but I ended up selling it for $6k a couple of days later.

You'll be better off selling it yourself, but the market may be flooded with gas guzzlers like your expedition right now.
08-18-2005, 06:59 AM
Mark52

Used car prices are very depressed these days because of the glut caused by all the dealers offering "employee pricing". At least that's what they are going to tell you when they hand you their lowball offer.
08-18-2005, 07:18 AM
Dave04

Quote:

Originally Posted by Mark52

Used car prices are very depressed these days because of the glut caused by all the dealers offering "employee pricing". At least that's what they are going to tell you when they hand you their lowball offer.

Let's also not forget the gas prices thing (as if you could forget that). There have been several news articles about used car dealers being swamped with SUV trade-ins from people moving to a smaller vehicle. Because of that, they aren't offering much for a large SUV at the moment.
08-18-2005, 08:48 AM
srivendel

Yeah, good luck unloading that thing with gas costing $2.69 across the street. Ford is contractually required to take it back from you in three months.

Maybe you'll have some luck, but worst case scenario is you have to hold onto it for 3 months, then turn it in to Ford. That's not so bad.

S.
08-18-2005, 08:57 AM
POS Racing

Quote:

Originally Posted by srivendel

Yeah, good luck unloading that thing with gas costing $2.69 across the street. Ford is contractually required to take it back from you in three months.

Maybe you'll have some luck, but worst case scenario is you have to hold onto it for 3 months, then turn it in to Ford. That's not so bad.

S.

Yea I know this is a common occurrence with me at about the 30th month of my 36 month lease I want whatever it is gone!

The 'spedition has been sitting in front of my house unloved for several weeks I've been driving the POS.....

Plus I am actually way under on the miles on this 'spedition which is a first for me! Figure I'll try Carmax next week just for giggles.

I appreciate everyone’s input!
08-18-2005, 09:37 AM
altiain

The more important question, of course, is what are you going to replace the Expedition with? :mrgreen:
08-18-2005, 09:43 AM
POS Racing

Quote:

Originally Posted by altiain

The more important question, of course, is what are you going to replace the Expedition with? :mrgreen:

Not 100% certain yet really haven't gone and looked at anything yet knowing I had to wait to get rid of my 'spedition........... Plus I still dislike the process of buying / leasing a car! :sad:

Although the guy at Autoflex who we got Sr's Honda Pilot from is a front runner for my business!
08-18-2005, 11:46 AM
srivendel

Let's see. You already have a "big car" in the Pilot. We all know you have a race car, too. What you need is something to tootle around town in. Something that's fun to drive, gets good gas mileage, is reliable, and makes you swell with pride of ownership.

Hmmm.... What kind of car would fit that description?

http://www.weblogsinc.com/common/ima...31231418263562

S.
08-18-2005, 11:51 AM
juxt3r

I took my previous vehicle to Carmax just for the sake of an easy unload. Since they were nice enough to offer more than I owed, I got my original downpayment back out of it. Granted, the car was a far cry from a full-size SUV, but there you have it.
08-18-2005, 11:57 AM
POS Racing

Quote:

Originally Posted by srivendel

Let's see. You already have a "big car" in the Pilot. We all know you have a race car, too. What you need is something to tootle around town in. Something that's fun to drive, gets good gas mileage, is reliable, and makes you swell with pride of ownership.

Hmmm.... What kind of car would fit that description?

http://www.weblogsinc.com/common/ima...31231418263562

S.

Pilot isn't mine, it's my dads! Don't forget the wife and kid so I need a backseat! I'd like something like this:
http://www.rrrclc.org/56%20Raskin%203.jpg
08-18-2005, 11:58 AM
jolberry

Quote:

Originally Posted by POS Racing

Don't forget the wife and kid so I need a backseat! I'd like something like this:

Nice... :bigsmurf: don't you still have your green caddy?
08-18-2005, 12:00 PM
POS Racing

Quote:

Originally Posted by jolberry

Nice... :bigsmurf: don't you still have your green caddy?

Yep still got the '67, you can never have tooo many Cadillacs or Miatas! :bom:
08-18-2005, 12:19 PM
Titus

Quote:

Originally Posted by POS Racing

...you can never have tooo many Cadillacs

Yep. Thats about what I would expect to hear from Sparky Babaganoush.
http://www.automotiveexpression.com/pimptastic2.jpg
08-18-2005, 12:30 PM
Treibenschnell

Quote:

Originally Posted by POS Racing

Pilot isn't mine, it's my dads! Don't forget the wife and kid so I need a backseat! I'd like something like this:
http://www.rrrclc.org/56%20Raskin%203.jpg

Now that is riding in style!
08-18-2005, 12:41 PM
Miatamoto

Quote:

Originally Posted by POS Racing

Pilot isn't mine, it's my dads! Don't forget the wife and kid so I need a backseat! I'd like something like this:

Wanna buy a M3 sedan? You can tote the wifey and kids around town really fast. :drive:

Not only does it have backseat, but it's got 4 doors. 5-speed, silver.
08-18-2005, 12:48 PM
Titus

I'm going to go out on a limb with a wild prediction. After Zoom Zoom, Spanky will be shocked to find himself drawn to the 5 spd Mazda5 that he got to run through the cones. :shock:
08-18-2005, 01:45 PM
POS Racing

Quote:

Originally Posted by Miatamoto

Wanna buy a M3 sedan? You can tote the wifey and kids around town really fast. :drive:

Not only does it have backseat, but it's got 4 doors. 5-speed, silver.

Sounds really nice! But we are going to go new.
08-18-2005, 02:06 PM
Miatamoto

Quote:

Originally Posted by POS Racing

Sounds really nice! But we are going to go new.

Where's that cat head smiley when I need it!
08-18-2005, 02:07 PM
blackzx3_13

:cat: BAM! there you go
08-18-2005, 02:21 PM
srivendel

Quote:

Originally Posted by Miatamoto

Where's that cat head smiley when I need it!

Yeah, where is Majik?

S.
08-18-2005, 02:40 PM
POS Racing

Quote:

Originally Posted by srivendel

Yeah, where is Majik?

S.

BAM
http://www.dfwmiata.com/images/stori...Show/real1.jpg
08-18-2005, 02:53 PM
Majik

Quote:

Originally Posted by POS Racing

BAM
http://www.dfwmiata.com/images/stori...Show/real1.jpg

Hey I wore that shirt today!
08-18-2005, 03:01 PM
Titus

Quote:

Originally Posted by Majik

Hey I wore that shirt today!

:cat:
08-18-2005, 03:21 PM
Majik

Quote:

Originally Posted by Titus

:cat:

Not feeling very original today are we?? :lol:
08-18-2005, 03:33 PM
Titus

Quote:

Originally Posted by Majik

Not feeling very original today are we?? :lol:

I'll never get tired of :cat:.
08-18-2005, 10:53 PM
Treibenschnell

Quote:

Originally Posted by Titus

I'll never get tired of :cat:.

Surprising come from a liberal bastard Californian... ;)
08-19-2005, 09:14 AM
ccage

So did you take it in, POS?

A guy I worked with once used CarMax twice to unload lease cars. From what I hear that's essentially their bread and butter -- new cars coming off lease. Twice he managed to get a bit more than the payoff on the car, which gave him a couple grand extra for the next purchase.

Chuck
08-19-2005, 09:16 AM
POS Racing

Quote:

Originally Posted by ccage

So did you take it in, POS?

A guy I worked with once used CarMax twice to unload lease cars. From what I hear that's essentially their bread and butter -- new cars coming off lease. Twice he managed to get a bit more than the payoff on the car, which gave him a couple grand extra for the next purchase.

Chuck

It's on my to-do list for next week! :cool:

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