carmax was only going to offer $11,500 for my stang

harry1587 · Dec 28, 2006

Hey, I was just curious what I could get for my stang at Carmax. I took it in and they looked over it for about 25min and sat me down. They said everything was really good on my car and I was expecting them to say like 13,500 or something cause the sell similar mustangs online like mine for 16-17k. They offered me $11,500 for my mustang. I thought this was a terrible offer. Is it just me being attached to my car or are mustangs value that low? Heres my page if you want to look at the car and tell me what you think it should be worth?
http://www.cardomain.com/ride/1354351

techniques · Dec 28, 2006

Well I think they tried to shaft you, but thats the dealerships whole m.o. Did you tell them that it was an insult, and that youre taking your business elsewhere? Sometimes that actually works.

007 · Dec 28, 2006

11.5k is low considering your car is in great shape and has low miles, but remember they want to make a profit on it. I reckon 13 or 13.5k for private sale would be reasonable, so if they are going to re-sell its always going to be at least 1k lower. Sell it yourself.

helty · Dec 28, 2006

they offered me $11k for my 02 with 50k miles.

harry1587 · Dec 28, 2006

Yeah, I thought it was low. I would have argued with them more but I am not ready to sell my car, I was mainly just trying to get an estimate. If I do sell it I will do it privately. THANKS for the comments!

SilverBullet00 · Dec 28, 2006

Carmax sucks, I hate those guys....

mustangkid05 · Dec 28, 2006

def low considering its an 03

Pennywise2 · Dec 28, 2006

Those Salespeople at Carmax are thieves.

Shop elsewhere if you are smart.

mineralgray2002 · Dec 28, 2006

I hate how dealerships do that crap. I was gonna trade off my truck on a superduty for work and he said the max they will give me for my 01 is 11k. I said wtf is wrong with you and he said he would give me more than add that much onto the final price of the truck. Thats the 1st time ive ever seen a salesman get scared and hide in the back of the office. Ive never been that insulted

99BRINGIT · Dec 29, 2006

No offense, but whats wrong with you guys.

Why would they want to give you more money than your car is really worth. That wouldnt be a good business decision. I'm not sure how that makes them "badguys" or "thieves" as you would say.

I'd assume, that just like every other dealership in business, that they will pay up to "fair market value." (Current auction pricing)

KBB and Nada and all of those guides, are just that.....nothing more than a "guide" to make the general public feel like they know what a car is worth. It is just a guide....not something to be used to appraise a car.

Clean/low mileage 03-04 GTs are running through the ring right now anywhere between the $8,500-$11,000 range. So, that figure seems to be right on the money as far as Im concerned.

When it comes down to it, Carmax is usually on the money when appraising a vehicle, and giving you what it is really worth.

helty · Dec 29, 2006

99BRINGIT said:
No offense, but whats wrong with you guys.

Why would they want to give you more money than your car is really worth. That wouldnt be a good business decision. I'm not sure how that makes them "badguys" or "thieves" as you would say.

I'd assume, that just like every other dealership in business, that they will pay up to "fair market value." (Current auction pricing)

KBB and Nada and all of those guides, are just that.....nothing more than a "guide" to make the general public feel like they know what a car is worth. It is just a guide....not something to be used to appraise a car.

Clean/low mileage 03-04 GTs are running through the ring right now anywhere between the $8,500-$11,000 range. So, that figure seems to be right on the money as far as Im concerned.

When it comes down to it, Carmax is usually on the money when appraising a vehicle, and giving you what it is really worth.

so, his 03 with 19K is only worth $500 more than my 02 with 50k? Yeah, right on the money.

funny you mention KBB and NADA, cause they were willing to give me exactly what KBB said. NADA actually had my car listed at $12,500, and the salesman pretended he never heard of NADA. "We generally go by KBB" are the exact words he used. They even had a KBB estimate printed off with the offer.

They may have been close with my car, but they were trying to steal harry1587's with that joke of an offer.

Skidawg · Dec 29, 2006

I'm not surprised at the offer. Cash offers are always going to be lower than trade-in offers, so I'm not surprised at 11.5k. It's a little lower that I would have expected from them. Considering the age, mileage, and condition, I would have guessed in the low 12's for their price.

Don't use CarMax as your market value estimate.

97Vicious281 · Dec 29, 2006

People at Carmax are weird to begin with and they love to overprice their crappy cars.

Mach1Run · Dec 29, 2006

Try seeing what a normal dealer will give you for it before you get pissed at carmax. I had a Ford dealer offer me $1000 for a my 97 v6 in 2004 when I was shopping for the GT. The wife was wife me and said I turned bright red and she thought I was going to strangle the guy after spending an hour negotiating on a red GT then he dropped that bomb. Carmax took about 15 minutes to look at it and offered 3k and already had a silver GT at the same price we had negotiated for at the ford dealer, no haggling required.

I had a good experience with carmax buying 2 cars from them.

SaleenGT2001 · Dec 29, 2006

carmax offered me 3K for the wifes 99 grand cherokee limited. it was FULLY LOADED, V8, leather heated seats, and everything else. it had 70k on it and the private seller value was 11K. lesson learned: carmax sucks!

DropTopPony · Dec 29, 2006

Its their job to get it as cheap as possible...then when they sell it the gross profit is more and the saleman makes more money...nobody is holding a gun to your heads making you trade a car in....sell it yourself, but most people don't want to deal with that hassle so trading it in for less is basically paying someone else to sell it for you.

gruvee87vertgt · Dec 29, 2006

Pennywise2 said:
Those Salespeople at Carmax are thieves.
Shop elsewhere if you are smart.

Every car salesman is a carsalesman.

nothing new.

93 teal terror · Dec 30, 2006

They offered me 14.5 k for my 02 with 4k miles on it. The dealer gave me 16,700 in trade in for the mach. It ended up about the same (14.5k) after I took it in the butt on the price of the mach (23k)

Mustang5L5 · Dec 30, 2006

What the hell is Carmax?? IS that a chain used car lot????

DocG · Dec 30, 2006

While they were looking it over........did they flip that switch?

Just kidding with ya, if it were a 5spd...I'd give you 13.5 for it. Everything I can find similar around here is lke 17k.

carmax was only going to offer $11,500 for my stang

harry1587

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harry1587

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