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Why does carfax devalue my car so much?

Discussion in 'Off-Topic Discussion' started by helpmeout, Mar 3, 2019.

  1. Mar 3, 2019 at 3:50 PM
    #1
    helpmeout

    helpmeout [OP] New Member

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    So i got appraised for 13k on my car 4 months ago and this month its 10k through carmax(I meant carmax on title and not carfax)? I got brand new tires for the front because they were worn out but I have little use on the front tires and they are michelins premier LTX tires and I also have michelins premiers on my rear but they have a lot more treads left. I also take very good care of my I know carmax won't care. I also changed my brakes all 4 rotors and all 8 pads because they were worn down but my car only had 40k miles back then so the previous owner must have been hard on them. I used oem pads but advanced auto platinum rotors. Looking into changing checking/changing spark plugs soon to because my car currently has 50k miles and if the brake pads were already worn at 40k miles who knows if the spark plugs are worn out to. I also have weather tech floor mats. I also know cars arent investment and my car is not rare or anything. I am using currently the car that I was looking value at is a 2013 toyota venza xle v6 fwd. I get it there in it to make profit like any other businesses.
     
    Last edited: Mar 3, 2019
  2. Mar 3, 2019 at 3:57 PM
    #2
    TXMiamiFan

    TXMiamiFan SSEM #3 and tractor extraordinaire

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    What does KBB say? I’m sure carmax is undercutting you so they can make a profit on resale like you said.
     
    Black Wolf likes this.
  3. Mar 3, 2019 at 4:08 PM
    #3
    helpmeout

    helpmeout [OP] New Member

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    Well for my car its saying this right now. I just don't get why carmax depreciates so fast. like how does 3k come off over 4 months? Makes no sense and I don't get the carmax algorithm and I also had brought in a 2015 mustang ecoboost roush warrior edition(I got from my brother since he is in military and the car only has 1 owner since he bought it brand new) and they looked up the KBB value without even checking the mustang because I told them I wanted to be inside if they were to test drive the mustang because I don't trust them with a manual transmission car. They say they go by KBB but they don't and they tried to give me 15k for the ecoboost.
     
    Last edited: Mar 3, 2019
  4. Mar 3, 2019 at 4:15 PM
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    Hbjeff

    Hbjeff New Member

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    Maybe they have taken in a bunch of similar ones?
     
  5. Mar 3, 2019 at 4:19 PM
    #5
    helpmeout

    helpmeout [OP] New Member

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    Theres only 5 around that specific carmax and they have the same one for 19,698 and they offer me 10k? with 48k miles? That car has 52k miles https://www.carmax.com/car/16524179
    Same color to except I have a tow hitch installed by the previous owner and I have black leather instead of the tan. Seems like the hitch was a pro job because theres no extra holes that were made and its not poping into the cabin where the spare tire is. I bet you that tire is the goodyear also on there. My tires cost more then the goodyear also because as you know michelins are fucking expensive but of the best options.
     
    Last edited: Mar 3, 2019
  6. Mar 3, 2019 at 4:28 PM
    #6
    Lupe

    Lupe New Member

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    Well every dealer going to lowball you. I would look up what they going for auction and use that number as a comp. I would try to sell it private party instead of trading to dealer. On Another note Venza stopped being produced by toyota that could be a factor i think they look great but the market might say other wise for them.
     
    Backslider likes this.
  7. Mar 3, 2019 at 4:32 PM
    #7
    helpmeout

    helpmeout [OP] New Member

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    Well I do know that dealers are going to lowball me but how does 3k fall of so fast within 4 months with nothing changing except the miles of my car? Yeah I know the venza stopped production since 2015 in the us and 2016 in canada but it still has the 2GR-FE engine which is very well reliable engine still used in the lexus rx 350( I think I haven't checked up the rx 350 in a while) and it used to be used in the camry,avalon, es, etc...
     
  8. Mar 3, 2019 at 4:34 PM
    #8
    Lupe

    Lupe New Member

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    Its depends on the season and market. Sometimes cars are hot one month and the next poof they cant get rid of them.
     
  9. Mar 3, 2019 at 4:35 PM
    #9
    Lupe

    Lupe New Member

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    Try to get a hold of nada and galves value. That what most dealers look at
     
  10. Mar 3, 2019 at 4:50 PM
    #10
    helpmeout

    helpmeout [OP] New Member

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    But did you check the CarMax website I listed? They are selling the same one with a little bit higher mileage and for 19k. I am not trying to argue but just trying to see there reasoning.
     
  11. Mar 3, 2019 at 5:03 PM
    #11
    Sas

    Sas Humor is everywhere

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    Your best bet is to do what realtors do with housing comps. Look around and see what your year, make and model with the same or similar options is selling for at several dealerships within 250 miles of where you live. Then go and see what it's selling for privately on the various online car selling sites for the same distance. That'll give you the difference between a private party value and the dealership value. You can use KBB, NADA, CarFax, TrueCar, etc, as back-up to support your argument when trading it in. I'd also give Carvana a look as a buyer as well. Submit it a few times over a week or so to see if the sale value changes. The value of my 2013 Altima did exactly that w/Carvana and I ultimately ended out selling it to them because they had the best price.
     
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  12. Mar 3, 2019 at 5:07 PM
    #12
    Medic343

    Medic343 5+4+3=2

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    Because 4 months ago was 2018 and your vehicle was a year younger, it's 2019 now and your vehicle is a year older.
     
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  13. Mar 3, 2019 at 5:14 PM
    #13
    ColoradoTJ

    ColoradoTJ Certified tow LEO Staff Member

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    This is exactly why I almost never trade a vehicle in. You will get auction wholesale pricing for the region and they will put money into the vehicle, sell at full retail.

    From my buddy in auto sales, they reserve 3000.00 per vehicle (tires, paint/interior, windshield, mechanical issues). Only time you make out on getting new tires and cleaning up a vehicle is on a private sale.
     
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  14. Mar 3, 2019 at 5:28 PM
    #14
    astro-jason

    astro-jason New Member

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    You just answered your own question, They need to make money. Sell it on the private market and go buy what you want. Carmax is a secondary dealer in the used market.

    -Jason
     
  15. Mar 3, 2019 at 8:07 PM
    #15
    helpmeout

    helpmeout [OP] New Member

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    carvana actually is willing to pay me $11,061.
     
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