Anyone Sell their Leases or Vehicles to CarMax?

[kirkhilles]

The real question to find out if that is a true profit is to ask how much did he put down on the lease....even a profit of $300 may not really be profit if there was a big down payment involved on it.
If I bailed on my civic right now, I would be about $6500 on the equity side (because of depreciation right off the lot)...but I put $9000 down on it. So really I would still be losing at this point. I bought the car 3 months ago. Make sense?

Ah yes, excellent point. I personally see no advantage to putting money down on a Lease (especially due to the risks if your car is totalled), so I hadn't thought of that.

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[Wxguru]

Ah yes, excellent point. I personally see no advantage to putting money down on a Lease (especially due to the risks if your car is totalled), so I hadn't thought of that.

And I bought outright....no lease for me. Been there done that one time....and I put nothing down at the time....that was nearly 20 years ago. Won't ever do it again.

 

[MrVvrroomm]

How much did Carmax offer you for it? That's actually pretty cool if you can trade in your car after one year for a $300 profit! How many miles did you have on it?

Carmax offer was about $16K.
My '16 EX-L was spotless, 14K miles.
They sold it the next day.

 

[MrVvrroomm]

The real question to find out if that is a true profit is to ask how much did he put down on the lease....even a profit of $300 may not really be profit if there was a big down payment involved on it.
If I bailed on my civic right now, I would be about $6500 on the equity side (because of depreciation right off the lot)...but I put $9000 down on it. So really I would still be losing at this point. I bought the car 3 months ago. Make sense?

It was a zero down, drive off lease at $276/month

 

[mathdydx]

Only anecdotal, but the three times I've tried to get a car appraised at Carmax, the local dealership had a better offer to give, usually by $1000.

Another negative is that although they're pleasant and nice at Carmax, they make you wait too damn long to get the appraisal price (I've gone on both weekends and weekdays and they both took a while to get my quote). I think I will skip Carmax the next time I sell my car.

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