Is it worth to sell my Honda to Carmax?

Question

I'm planning to sell my 2005 Honda to Carmax, because I don't want to get into headache/ hassle if I sell by private party/person to person.
In excellent condition with warranty up to 50k, so still has 20k left.
Is carmax appraisal will bellow that KBB? which one better?
Dealer or Carmax?
I have new car already, so I don't need trade in or something like that.
The only reason I sell it because with the baby coming, 2 doors wouldn't be a good idea.

Answer 1

Kelley Blue Book is just a guide, and an inflated one at that. Honestly, I don't know anyone that's actually bought or sold anything at the full suggested blue book price.

Carmax will give you an actual offer, which is much more useful. At least it gives you a minimum value for your car, and can be used as a starting point in negotiations if you try to sell it or trade it in anywhere else. I've actually seen a lot of people on car forums recommend Carmax as a place to sell your car, because they typically offer more than other dealerships.

Answer 2

Kbb is just a guide and dealers and customers only use it when it says what we want to hear. Carmax will give you a fair price but no more than any other dealer. Honda is a pretty popular car I would also try the local Honda dealers and see if they are interested, you stated that you have 20k left on warranty, did you buy an extended warranty if so you would proabley be better off to cancel it and get you money back for the unused portion.

Answer 3

Carmax will give you wholesale price. The question remains - what is the payoff balance on the loan.

If Carmax's offer is greater than the payoff balance, rejoice because you'll have money to spare.

If not, you may need to payoff a small balance OR try to get more than Carmax's offer.

Answer 4

It depends i sold my car to carmax but what i would do is i would go to carmax and get the info and if you dont like there offer then dont sell your car to them it depends on how much money you want for your car good luck.

Answer 5

well yea u are rite about the baby thing i would want a 2 door car im havin a baby on the way also so yea girl its kind of good to go to carmax cuz thell thell u how much is worth and u can get a bettter car like a car u want.

Answer 6

carmax is usually pretty good at giving a fair price.
I have a friend who only sells his cars to carmax
and buys from them too
he swears by it.
Either way, it shouldn't be a bad idea.
if you are going to get a new honda on the other hand,
you could always trade it in towards your new car.

Answer 7

Don't sell below KBB.

Answer 8

well, as long as you get your wanted price tag....