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I traded in a car to carmax not that long ago, I did
a few year old forester
Carmax gave me 20.0k for it and sold it for 24k 2 days after listing (I only paid 25k for it a year prior)
It seemingly hurts a bit to give away 4k. However that is not the full story. I can't get the same price for a car they can. They offer financing, warantys, and are open 65ish hours a week. Id be lucky to get 22-23k. We were trading it in on a minivan, so we saved about 1500 in taxes because of the dealer loophole. Of course Carmax isn't the cheapest place to buy a used car either all though the one we bought was priced more competitive than usual.
So in the end trading in costed me about 1000$ more than if I bought the same van from Carmax and sold our car privately.
It probably costed me 2000$ more than if I would have held out for the best private sale I could manage and bought a similar van privately.
It is a bit of wasted money, but is a ton easier, and no knocking on the door by craigslisters when you have an infant trying to sleep.
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84 930
18 Cayman GTS
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