Selling a car is a rather complex experience. And when you decide to say goodbye to your battle companion, you most likely want to do it quickly and easily, right? But always thinking about what you could get for it, and even leaving it in good hands. In this sense, we find CarMax, a car sales company known for its practicality and speed, they promise to make the process as easy as possible, but… is it really worth selling your car this way? An experience that went viral on TikTok will help you decide.
A quick sale
This is the story of Summer, a driver who needed to sell her 2016 Lexus NX 200t. Summer decided to document her selling experience and share it on TikTok in a video that already has more than 86,000 views. She confirms that she does not want to change her car for anything, she simply needed to know how much they were offering for her Lexus.
In the video, Summer showed off the condition of her car (which was impeccable), highlighting its red and black interior seats. Although the driver confessed that she felt deeply sad to say goodbye to her vehicle, she explained that she needed to sell it to improve her financial situation.
So she decided to go to CarMax, and they ended up offering her 13,600. Up to that point everything seemed like a normal story, but Summer got a very unpleasant surprise. It turns out that, to her surprise and that of all the spectators… The store had put her car up for sale for 21 dollars!
Was it the best decision?
Summer asked her followers to help her figure out whether she had made the right decision by selling her car for that price or not, and the comments offered different opinions. There were many who considered that the $13,000 she had been offered had been a good price for the vehicle she was selling, but others believe that if she had sold the car privately to a private individual, she could have gotten more money.
At the time, Summer revealed that she had tried to sell her car on Facebook Marketplace for at least two weeks but had found unserious buyers and that the one offering the most money (and convenience) was CarMax.
Is it good to sell on CarMax?
According to Kelley Blue Book, a Lexus NX 200t F Sport in excellent condition can cost between $14,260 and $17,571 on the private market. So, is it better to opt for the convenience of CarMax or find a private buyer to maximize profit?
CarMax has its advantages and disadvantages. The good thing about this company is that the process is fast, online, and you can receive your payment in just one day, which saves you from having to hold endless negotiations with other buyers. And, on the other hand, they also have a solid reputation for offering reasonable prices.
On the other side of the scale, there are two points that “cloud” this company, and that is, it usually offers less money than your car would deserve and that the seller has no influence on how much the car will be resold (as has happened to Summer).
How do I know which option is best for me?
It’s very simple, the first thing is that you have to be prepared to negotiate privately (and for possible haggling!), but, before anything else, you must investigate the value of the vehicle you are going to sell in the current market, this way, you will get several offers that will help you decide who you finally sell it to. Also evaluate what your priorities are, if you need to sell quickly you already know that companies like CarMax will accept your vehicle very quickly, but if you need more money perhaps you should choose the private sale. There is no good option and a bad option, there is one option that is more suitable for you and another that is not. Whatever it is, remember that you must investigate well before making any transaction!