CarMax Trade?
Thread Starter
Instructor
Joined: Feb 2005
Posts: 132
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From: Brentwood, TN
CarMax Trade?
I have an '02 Targa with a busted roof mechanism. My research indicates a potentially $5K-$13K repair. Has me contemplating trading (eg. CarMax) to get what I can and live w/ basic transportation for a while, rather than fork over that kind of cash.
Pre-problem I thought I could get $22K for trade-in (59K miles, daily driver, some rear bumper scrapes, clean but not pristine). Key question is whether CarMax would recognize the $ severity of my 'issue' and really ding me hard, or if I'd only suffer a bit. I find car salesmen generally uninformed, but finance guys assessing trade-ins to be more savvy.
What's the P-car community think?
Pre-problem I thought I could get $22K for trade-in (59K miles, daily driver, some rear bumper scrapes, clean but not pristine). Key question is whether CarMax would recognize the $ severity of my 'issue' and really ding me hard, or if I'd only suffer a bit. I find car salesmen generally uninformed, but finance guys assessing trade-ins to be more savvy.
What's the P-car community think?
Nordschleife Master
Joined: Oct 2006
Posts: 7,446
Likes: 69
give it a shot..... he may not know what a targa is since it is rare.... or where the button is located. What is the worse that can happen? id they offer you lower than your asking price, you can always refuse.
Advanced
Joined: Sep 2010
Posts: 94
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From: Irvine, CA
Yeah you never know. I was trading in a 6yr old Acura MDX with 120k miles on it that lived through baby to toddlerhood years, lol, and I ended up getting RETAIL kelly blue book for it. Use it as a bargaining tool, they would rather increase your trade-in value than lower the price on the purchase. And they didn't even have anyone out to inspect the trade-in at all. They never even drove it. My advice - go on the last day of the month - at night 
They will do anything to sell you a car.
They will do anything to sell you a car.
Drifting
Joined: May 2001
Posts: 2,636
Likes: 16
From: Apex, NC
Good luck... but Carmax appraisers are usually pretty savvy and have a network of connections to call when they are not sure about something. They are compensated based on the accuracy of their appraisals against eventual sale prices. One technique you may run up against - if an appraiser is wary of a car he/she will lowball the offer just to let you know they don't really want the car. There is no penalty for them if they don't buy your car, only if they do and lose.
Ultimately the problem you will face is that Carmax approaches the purchase of your car as a seperate deal from you buying a car from them. There is not pressure on the appraiser to make you happy so you buy their car. They also can't really trick you with an inflated appraisal on a new car purchase they have not really discounted. They are actually a pretty honest bunch.
Sound like I know what I'm talking about? Yeah, I worked there in the 90s for a while.
I think your best bet would be to use the car as trade bait for a new or slightly used car at a new car dealership. They are hungry enough to fall for it, particularly if you give them a "I need space for the kids" sort of story.
Ultimately the problem you will face is that Carmax approaches the purchase of your car as a seperate deal from you buying a car from them. There is not pressure on the appraiser to make you happy so you buy their car. They also can't really trick you with an inflated appraisal on a new car purchase they have not really discounted. They are actually a pretty honest bunch.
Sound like I know what I'm talking about? Yeah, I worked there in the 90s for a while.
I think your best bet would be to use the car as trade bait for a new or slightly used car at a new car dealership. They are hungry enough to fall for it, particularly if you give them a "I need space for the kids" sort of story.
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Drifting
Joined: Apr 2006
Posts: 2,032
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From: Out West
Often times with hign end exotics and semi exotics, trades are taken to the new selling dealers for a quick inspection and an purchase offer. If that's not possible, it's often done over the phone and key potential issue areas are noted and checked. I don't think you'd get this past a P-dealer. With carmax, I'm unfamiliar.
If your roof is broken, but is still water and wind tight, why not just drive it a couple of more years with the top closed? It will depreciate another few thousand and the roof issue will be less of a deduction if discovered. At least you'll still be in P-heaven.
If your roof is broken, but is still water and wind tight, why not just drive it a couple of more years with the top closed? It will depreciate another few thousand and the roof issue will be less of a deduction if discovered. At least you'll still be in P-heaven.
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Often times with hign end exotics and semi exotics, trades are taken to the new selling dealers for a quick inspection and an purchase offer. If that's not possible, it's often done over the phone and key potential issue areas are noted and checked. I don't think you'd get this past a P-dealer. With carmax, I'm unfamiliar.
If your roof is broken, but is still water and wind tight, why not just drive it a couple of more years with the top closed? It will depreciate another few thousand and the roof issue will be less of a deduction if discovered. At least you'll still be in P-heaven.
If your roof is broken, but is still water and wind tight, why not just drive it a couple of more years with the top closed? It will depreciate another few thousand and the roof issue will be less of a deduction if discovered. At least you'll still be in P-heaven.
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From: Seattle WA (Sammamish)
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From: Charlotte, NC
Often times with hign end exotics and semi exotics, trades are taken to the new selling dealers for a quick inspection and an purchase offer. If that's not possible, it's often done over the phone and key potential issue areas are noted and checked. I don't think you'd get this past a P-dealer. With carmax, I'm unfamiliar.
So try it out but in the end don't be surprised if they discover what you don't want them to.
Thread Starter
Instructor
Joined: Feb 2005
Posts: 132
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From: Brentwood, TN
Thanks all for the replies. My flirtation with the idea ended up being short lived. I am a believer in Karma and it's stupid to play around with it. So, I'm taking it next week to Renntag Motorwerks here in Nashville, who have a stellar reputation. I'll see what they say about if they can fix it and if so, how much. Let's all hope for the best, because right now I'm driving a nice 911 Targa until you look at the clear packaging tape keeping me protected from the elements.....
Instructor
Joined: Apr 2010
Posts: 179
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From: Macon, GA
There are some people who will buy "broken" cars. You might want to try to find one of them.
I'm not sure what the problem is with your targa roof, but I can tell you that even the most uninformed used car manager is going to get in, press every button and flip every switch. That could end up making the problem even worse. Plus, they're going to take the car for a test drive which may make the roof problem show up very obviously.
I'm not sure what the problem is with your targa roof, but I can tell you that even the most uninformed used car manager is going to get in, press every button and flip every switch. That could end up making the problem even worse. Plus, they're going to take the car for a test drive which may make the roof problem show up very obviously.