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Old 11-21-2013, 12:35 AM   #1 (permalink)
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Anyone ever went to Carmax? Ending lease?

Hey everyone, long long long time no talk.. Anyways I got a dilemma and I rather ask you guys since everyone on here is highly more educated then other forums. Anyways heres my question and situation. Back in 2011 I leased a civic si and my current lease ends this march 14. My residual value on the car is $14,000 and the edmunds true market value is $16,860 so I have equity on the car. Now, throughout the 3 years I leased the car, its been garaged and babied since I owned it. Never seen snow or rain and only has 13,000 miles. I heard from a friend that carmax would be willing to buy my car out and pay me the equity on the car. Has anyone ever done that before with a leased car? Please let me know, thanks!

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Old 11-21-2013, 10:41 AM   #2 (permalink)
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Carmax will buy your car. I'm not sure how they will handle your case, so I will tell you about mine. Also all you do is take your car there, they will look it over, give you a written offer that is good for 7 days. So you can go home and think about it

Last year I had to get rid of my 2011 mustang gt. It had 8k miles on it. Blue book was around 26k. I took it there on a Saturday. Gave them the keys and waited for about 30mins. They came back with an offer of 23k (I had 24k in my head). The offer is non negotiable, so I said I would think about it. I had been advertising the car for 25k for some time with no bites, and also had the car on eBay. So I figured if I hadn't sold it in 7 days I'd take it back. I also called some car dealers and the most they wanted to give was 21k.

That following Saturday morning I drove back to carmax and handed them the paper they gave me with the offer on it. About 30mins later I left with a check for the difference of my loan.

They then listed the car for 27 and some change.

All in all I was pretty happy with the experience

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Old 11-21-2013, 11:27 AM   #3 (permalink)
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Originally Posted by atistang View Post
Carmax will buy your car. I'm not sure how they will handle your case, so I will tell you about mine. Also all you do is take your car there, they will look it over, give you a written offer that is good for 7 days. So you can go home and think about it

Last year I had to get rid of my 2011 mustang gt. It had 8k miles on it. Blue book was around 26k. I took it there on a Saturday. Gave them the keys and waited for about 30mins. They came back with an offer of 23k (I had 24k in my head). The offer is non negotiable, so I said I would think about it. I had been advertising the car for 25k for some time with no bites, and also had the car on eBay. So I figured if I hadn't sold it in 7 days I'd take it back. I also called some car dealers and the most they wanted to give was 21k.

That following Saturday morning I drove back to carmax and handed them the paper they gave me with the offer on it. About 30mins later I left with a check for the difference of my loan.

They then listed the car for 27 and some change.

All in all I was pretty happy with the experience
Thanks for the input
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Old 11-21-2013, 03:44 PM   #4 (permalink)
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Originally Posted by atistang View Post
Carmax will buy your car. I'm not sure how they will handle your case, so I will tell you about mine. Also all you do is take your car there, they will look it over, give you a written offer that is good for 7 days. So you can go home and think about it

Last year I had to get rid of my 2011 mustang gt. It had 8k miles on it. Blue book was around 26k. I took it there on a Saturday. Gave them the keys and waited for about 30mins. They came back with an offer of 23k (I had 24k in my head). The offer is non negotiable, so I said I would think about it. I had been advertising the car for 25k for some time with no bites, and also had the car on eBay. So I figured if I hadn't sold it in 7 days I'd take it back. I also called some car dealers and the most they wanted to give was 21k.

That following Saturday morning I drove back to carmax and handed them the paper they gave me with the offer on it. About 30mins later I left with a check for the difference of my loan.

They then listed the car for 27 and some change.

All in all I was pretty happy with the experience
very nice deal you got there. i also went to carmax and sold my vehicle. it wasn't nearly as much as your amount but with that same money they gave me, i took out an 06 civic si and ever since then i loved my new car. the si is very fast and quick to respond when u want it to, i got a FG2, very nice =)
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Old 11-26-2013, 11:00 AM   #5 (permalink)
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I don't know how Carmax works exactly but I looked for 2008 Civics to compare - my Civic has 99K on it, and would equate to a US EX model - they want like 12k for them? I bought my car a year ago for much less than that, from a Honda dealer. From my understanding is Carmax doesn't negotiate. Am I missing something?
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Old 11-26-2013, 12:17 PM   #6 (permalink)
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Yes that's true, carmax does not negotiate prices at all. It is a take it out leave it situation. Trust me I have been there and that's where I sold my old car and got the 06 civic Si I have now.

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Old 11-26-2013, 04:31 PM   #7 (permalink)
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I don't know how Carmax works exactly but I looked for 2008 Civics to compare - my Civic has 99K on it, and would equate to a US EX model - they want like 12k for them? I bought my car a year ago for much less than that, from a Honda dealer. From my understanding is Carmax doesn't negotiate. Am I missing something?
they make claims to have top notch vehicles... thats not always the case

but they typically have a large variety on one lot, so your average person not looking for one specific type of car is drawn there. they put the car up for sale for a while then if it doesnt sell after so long they auction it off
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Old 11-26-2013, 04:52 PM   #8 (permalink)
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Quote:
Originally Posted by atistang View Post
Carmax will buy your car. I'm not sure how they will handle your case, so I will tell you about mine. Also all you do is take your car there, they will look it over, give you a written offer that is good for 7 days. So you can go home and think about it

Last year I had to get rid of my 2011 mustang gt. It had 8k miles on it. Blue book was around 26k. I took it there on a Saturday. Gave them the keys and waited for about 30mins. They came back with an offer of 23k (I had 24k in my head). The offer is non negotiable, so I said I would think about it. I had been advertising the car for 25k for some time with no bites, and also had the car on eBay. So I figured if I hadn't sold it in 7 days I'd take it back. I also called some car dealers and the most they wanted to give was 21k.

That following Saturday morning I drove back to carmax and handed them the paper they gave me with the offer on it. About 30mins later I left with a check for the difference of my loan.

They then listed the car for 27 and some change.

All in all I was pretty happy with the experience

Great reply! I worked at Carmax as a tech a couple of yrs ago. And its exactly what he said. If the offer is worth it then do it, if not then at least you just got a written offer that you can bring to other dealers to show them, which helps. Carmax cars are better than used cars at dealer, because they are reconditioned. They fix the interior, body, paint etc... Now they are not perfect cars because they are not new but they dont sell cars with frame damage. So do your research on price and have them give you a history of the vehicle repairs not just the CARFAX. Their standards have dropped drastically since i worked there so just a FYI not here to bash Carmax at all. Hope this helps.
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Old 11-26-2013, 05:31 PM   #9 (permalink)
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they offered me 11k for my 2009 civic si coupe with 38k miles on it.
i walked out laughing
sold it privately for 13.5k but listed it for 15k
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Old 11-30-2013, 09:22 AM   #10 (permalink)
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they offered me 11k for my 2009 civic si coupe with 38k miles on it.
i walked out laughing
sold it privately for 13.5k but listed it for 15k
about 3k under blue book, seems about right. my car blue booked for 26k and they gave me 23k

but they actually go by black book (national auction average price) because that is their main concern, can they still make a profit if they send it to auction


you got to remember that the point of buying and selling cars is to make a profit. if they would have offered 14 for your car then put it on the lot for 15k they would actually lose a lot of money in the end
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