Should You Sell Your Car to CarMax, a Dealer, or Privately? Here's What You NEED to Know Right Now.

Never negotiate alone again: yourautoadvocate.com/
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If you've been thinking, "Where should I sell my car?" This video will help. In theory, selling a car is simple. In practice (like most things), it's not as easy as it may have seemed. Ray and Zach Shefska discuss the options you have when you go to sell a car, and the considerations you should be aware of if you're thinking of trading your car in. Ray sheds light on the impact trade-ins have on sales tax and how that factors into your decision for who to sell to.

[@gonnafish]

Over the last 30 years I’ve privately sold 8 vehicles because I wanted to recoup the most money, but additionally traded in 3 due to circumstances. The last 2 I sold privately (2013 Tacoma TRD Offroad and 2017 RAV4 Limited) the Toyota dealership offered me $4,000 and $3,600 less than what I sold it for through Autotrader. I do all the financial transactions at my credit union and no one has ever test driven it alone, or asked to. Never any problems. It would be one thing if dealerships only tried to make $500 - 1,000 on you, but several thousand? They definitely will stick it to you if you let them.

[@krehbein]

Good point on having the deal done at a bank or credit union. Then you can have them make sure the cashiers check is legit then and there. Btw, listed my car on Craigslist. Few hours later had two local, large, dealerships call me. Guy came out, we worked out a deal, and signed the paperwork at my house. I got more then the price quoted taking the car to a couple dealers, and probably a little less selling to an individual. Interesting times.

[@Joelsmediahere]

How do you deal with the financials?? Do you ask for cash or a cashiers check?? How do you verify? Is it easy to verify on the spot or does it take days?

[@krehbein]

@@Joelsmediahere Since I sold it to a local large dealership and I checked out the buyer's credentials I was fine with him giving me a cashiers check. IF I sold to someone directly, I would have him/her meet me at my bank, require a cashiers check, and only give him the title once the check was deposited. Check with your bank on their policy of standing behind these types of transactions (is it on them IF the check ends up being bogus???).

[@misterrobot5520]

Imho, the chemistry to experience ratio, coupled with the info and format makes this channel gold. Just an observation: Although a good idea, just hold off on vids dense with experiences for a little while. Spoon feeding the experience with supporting details is good for 15 min. content. Too much is like eating a pound of steak in one bite. it's hard to enjoy and digest lol. Eventually, a "Best of" or "End of year" compilation would be a great way to capture the year as a milestone. Keep up the good work!!

[@jtsherrod1]

Great info in this video! Thanks so much for making it and looking forward to hearing more!

[@jdub264]

Carmax will only give you trade-in value for your car. Do your do diligence and sell outright. I’d rather cut a break to someone who needs something reliable, rather than a huge million/billion dollar entity.

[@1jackvalley580]

Yes the trade in value really hurts a lot. I've got a really nice Honda Element I might sell, but the trade in value I would lose at least $2100 so I almost feel forced to sell it myself, even though I don't like dealing with some scammer's and constant no shows, and worse yet someone driving off with it 🤪😫

[@williamwchuang]

Carvana has shitty algorithms that will give you three thousand dollars more than anyone else will. Source: they offered 3,600 more than anyone else for my car.

[@avenlouis1486]

@@williamwchuang I guess carvana gives alot more than trade in value and CarMax only offered u 600...what yr make model did u sell for 3600?

[@dilididli2274]

Payattention to trade in. Often they give you more as a trade in then they really want just to have you focusing on the high trading value they offer you but they ofset that by not wanting to discount anything else. They just move numbers to the colums you are more interested in but they dont actualy make you a good deal sometimes.

[@rstilwell]

You two are great. Keep up the great work!

[@scarletjazz]

Great video! Good info to know esp the trade in/sales tax info. Thanks

[@tlockerk]

I'm loving the (developing?) relationship between the two of you...plus great info on buying and trading.

[@jeffpalmer9542]

If you are trading a car find a private buyer and bring that private buyer into the dealership where you are buying a new car and have them do a “pass through” . That way you get the private party price PLUS the tax credit. I’ve had some dealers add a $200 charge to run your trade through their shop as legally that can be held liable for your trade. All dealerships know what this is but some will say they don’t or can’t do it. Ping me if you have questions.

[@timbuckingham8845]

This is great information as I'm a Maryland residence looking at possibly trading in a vehicle that is still financed through a bank.

[@hgarti919]

Tim Buckingham KBB has a cash offer now section that can outbid Carmax and get you started on negotiations ahead of time. Please spend 1-2 hrs of research that depending on the vehicle you are looking for could be worth $500+/hr. Also, be open to selling on your own and buying out of state as most dealerships now are shipping anywhere and want to be competitive. I am in MD, bought someone a Rolly for $100K less by having shipped from Dallas. Another time bought a person a Bentley for $35k less than the cheapest local used one and it had more options, certified warranty AND less miles, when totaled 1 yr later, he got $30k more than he bought it for originally. Homework, flexibility and negotiations pay off. Best of luck!

[@jamesbecker4326]

In Missouri, you can offset your sales tax if you buy and sell any motor vehicle within 90 days of each other. If you sell first, you take your bill of sale to DMV when you go to get your plates and pay your sales tax and they credit it right there. If you buy first and then sell after you have gotten your plates and paid the higher tax, you have to fill out a form and apply for them to send you a check for the difference that you didn't really owe. Each state is different.

[@AbouTto_]

Thanks again. State owes me $786 in tax overpayment. Carmax paying $3000 over dealer trade-in offer & I can take up to 6 months to get another car and get the tax benefit which saves another $3500 in taxes. Basically about to trade a 2020 for a 2022 for about $2000. Thank you. This post saved me potentially $1000's.

[@jamesbecker4326]

@@AbouTto_ double check that on the state website. It could be 120 days. We did it a few years ago.

[@AbouTto_]

@@jamesbecker4326 180 Days. Thanks again... 4) Examples. (B) A person purchases a vehicle from a dealer for $25,000 in May. That person pays tax on $25,000. In June, the person sells a different vehicle for $15,000 and an outboard motor for $500. Because the sales took place within 180 days of the purchase of the vehicle, the person can obtain a refund of tax paid on the purchase transaction based upon the $15,500 received on the sale.

[@alwaysseekingsilver]

I would consider buying a used car through a private party, but only if I could be assured that the title is real and not a salvaged or branded title, that the current owner (name on the title and not someone else) is who I’m dealing with, that they already have a lien release card or that the title shows no lien, and that the seller would allow me to take the car to an independent mechanic for an inspection. Using those criteria, I’ve never purchased one from a private party. The hassle factor and sales tax savings on a trade have resulted in all my purchases to date being done at dealers.

[@treesnmoguls]

When you sell a car privately, do the transaction at the buyer's bank. If the buyer wants to do the transaction any other way, don't participate, move on.

[@agr8fulson]

true. last car i sold, we met at MY bank, walked up to the teller together and she gave me the nod when she ran the guys check. loved it. buyer loved it too cause he can pay with his regular checkbook without having to bring cash (risky) or get me a cashiers check (inconvenient and expensive). worked great - smiles all around.

[@jrpeet]

Good advice

[@jkirk1626]

Thomas Crawford A crook can write a hot check at your b a North Korea as easily as anywhere else.

[@agr8fulson]

jkirk1626 fascinating. I’ll be extra careful then, thanks.

[@jaycrabtree4185]

Thomas Crawford p

[@robmay4294]

Excellent point about the sales tax benefit of trading in the car verses going the CarMax or private sale route. Never would have considered that point had Rad not mentioned it. Good job!

[@obx421]

@72 Nova Still better than CA. They offer ZERO tax reductions for trade ins. And charge 7.5% tax on autos

[@patrickboyd3364]

I rather sell my vehicle for 💸 and then go get another vehicle using the cash as the Dow payment.

[@qwintisntial1792]

GOOD CONTENT !!! THANKS !!!

[@Mikedoc52]

In Missouri private sales are taxed just like trading in a car as long as it is within 60 of buying a more expensive car.

[@beingrealhere9480]

If you want to get more for your car when u sell it or buy less for it, go privately but obviously there are risk and no warranty involved.. Caveat emptor... If u want no hassle but you get ripped off then go to carmax, dealership.. Upto you and your comfort level and convenience

[@azycray4801]

That is a really helpful nugget!

[@danieltaylor4819]

I just sold a very nice, late model suv to CarMax. The process went smoothly and I got a decent price for it. True, I could have make another 1000-1500 dollars if I had sold it myself. However, the hassle of having strangers coming to your house, dealing with the no-shows, tire kickers, and the "I'll talk it over with my wife and get back to you" buyers just wasn't worth it to me. It just depends on how badly you need that extra cash.

[@micromanly]

Enjoyed your video. I am one of those guys who keeps a car until it is at least 200,000 miles. By then not worth much and usually give to grandkids. Go buy a new one ( usually used with about 50,000 miles on it coming off lease) and keep for 12-15 years or more.

[@jrpeet]

Good advice

[@coniccinoc]

Very smart advice. Have you actually gotten 200k miles and if so, what type of vehicle? Just curious. I have been a chevy guy my whole life but put very few miles on my cars.

[@micromanly]

@@coniccinoc I have had good luck with Hyundai Elantra ( 2000 year model and 2009 year model) plus Ford Ranger models with 6 cy engine. Currently have Ranger with 189000 miles and it runs great.

[@livinglike_lisa7954]

Sell it on FB marketplace because then you can look up people’s profile. You can also meet at a public location to meet. I have bought and sold several vehicles this way. I live in NH with no sales tax so that doesn’t affect me. Only accept cash.

[@takishabaker7520]

Hey, Can you a video or answer my question in regards to selling a financed car to carmax or echopark. What paperwork is involved and how to protect yourself from being responsible for any further payments.

[@markblankenship1076]

I have a question about selling or not. I have a 2012 Infiniti G37X with 140K miles and it's in not perfect condition but fair condition. I keep seeing articles and KZbin videos about Infiniti possibly going out of business over the next few years. Should I hang on to this car (which I absolutely love) because it might be more valuable or should I get rid of it for a newer (different) model this year when the prices will be going down on used vehicles???

[@whthorse25]

You guys are in Maryland too!!

[@kier4931]

Ray and Zach, regardless of selling or buying channel, is it essentially not always more financially sensible to buy and sell used cars? A used car with 20,000-40,000 always seem like a remarkably better deal almost regardless of make and model. Is this true in general.

[@billp4]

What was that again? "I love you because you are my father and so I have to." touching. LOL

[@leondrolet8695]

Not every state makes you only pay sales tax on the difference between the new car and your trade in. Michigan is only now phasing that in. Forever, you had to pay tax on the entire price of the new car.

[@freddieslaughter1107]

When I'm looking at SUV's and I want to get something at least three years newer and want to trade in my used SUV, they always want to only give me below Kelly Blue book.

[@dean827]

Carmax $8K, street $11.5K. In 2011 I moved to a warm climate. I had 5 cars and wanted to sell my wife's 2003 Pathfinder with 60K miles. Looked and drove like new but it had 1 door reskinned because huge screw got flipped by the wheel and got launched into the door. I went to carmax, they said the repainting of the door was a huge deal, they game me $8000 for the car. I passed. 2 weeks later I sold it on Autotrader for $11,500 cash. I mean the guy gave me $100 bills, he was a gold miner from nevada? Anyway he didn't care about the reskinning because no one can tell without using a tool to diagnose. I looked perfect to anyone's eyes. Carmax was listing my model for $17K... double what they offered me.

[@mikecastellon4545]

Shocking....simply shocking

[@misterrobot5520]

Nice. The tool to detect/diagnose is a $1.98 magnetic item from the stationary isle in Walmart lol. I'm looking to buy out right, so I went to buy one to detect filler on steel body panels. That way I can use the same methods they use to shake down the price of a car from a stealership or private seller lol.

[@JustChuck1t]

This is great information!

[@richardbaumayr1108]

Very easy going comments.I like this station

[@joeseda8102]

IMHO, what really makes a big difference in the sale of a vehicle is not the price, but the confidence the buyer has in the seller. I have been selling cars for over 20 years at much higher prices than all local dealers only because the buyers are convinced that the car I am selling them is worth every penny they are paying me for it despite the brand of vehicle. To me, every car is a good car according to the intended use the factory designed it for. What is REALLY bad, are the owners of the cars that think a car is "supposed to" last X amount of time without PROPER MAINTENANCE!

[@dizzolve]

6:40 yes you'll get more but you'll work a lot more to do it that way too.... and take on some risk. There's no getting around that. I'm not an expert on selling or buying cars but that should be added

[@idrivearttabletennis]

I generally get a price from Carmax before I even trade in a vehicle to a conventional dealership. Sometimes I need the trade-in for negotiating at the conventional dealership, sometimes not. I use to sell to individuals but generally stay away from that now simply because I don't want them coming back to me on any future issue. Good video. Thanks for doing it.

[@AFHProvider]

I have a 2015 Jeep Wrangler Unlimited Sahara with 68,000 miles. It is in good shape nothing wrong with it. Looking to sell it but I had put an Android 10" display Navigation and stereo in it that was put in professionally. Should I sell it like that or have the original Radio / Nav put back in?

[@Alleyboy760]

Is the tax talk we have here ( gold by the way) in your school? I’ve just started chapter 2

[@tsizzle]

What about states that don’t have state sales tax such as Oregon or Delaware... aren’t car purchase sales tax charged on the state that it’ll be tagged/licensed for or where the driver/owner of the vehicle lives not where it’s purchased?

[@jhonnygarcia7396]

Dropping bombs of knowledge

[@unclestinky6388]

You have to be concerned about safety when you sell anything to strangers. You might be tempted to want to ride along with a buyer who wants a test drive, but you probably should take the chance and let them take the car without getting in with them. Maybe there is a way to get identifying information about anyone who wants to see the car so that you can try to look into their background with a Google search at least. Or maybe you can get lucky and receive a referral to a buyer from someone you know.

[@misterrobot5520]

Watch CHRISFIX (car repair guy)vid. It goes so well to watch after this. He has a good vid of him purchasing a used Jag for his father. Initially, it shows the car parked in a lot(cameras/ security), calling the owner, met the owner during the day etc.

[@eastsidepo]

@@misterrobot5520 he bought that car in a nice neighborhood...not all car deals are the same...almost got shot trying to buy a cutlass off craigslist.

[@kam7056]

I don’t know which state collects sales tax only on the balance (selling price- trade in value). I was a sales tax auditor in California and the law requires that the dealers report the sales tax due, based on the selling price of the dealer and the value of the trade-in is only considered a form of payment for the car. I believe this rule is common in every state that collects sales tax.

[@CarEdge]

Kambiz the vast majority of the states give you a sales tax credit for the amount of your trade in. Only California, Hawaii, Kentucky, Michigan, Montana, Virginia and the District of Columbia do not. All the best, Ray

[@geebee9933]

Can you guys talk about buying used Tesla?

[@ecosme1970]

Good video. Here's my true story. Owned a 2016 4Runner Trail Premium $$$$ I had to get rid of it due to medical retirement. I tried selling privately. Many wanted to buy it but bank wouldn't finance 100% NADA. Bank would usually go about 75% and wanted buyer to put the rest cash. My mileage was what was hurting the value even though it was an awesome truck. Took it to my Toyota sales guy. He straight up told me that I would get a better deal with Carmax. Carmax certifies their own vehicles. Toyota has to go through loops with Corporate to certify it. I went to Carmax and was able to get $2,500 more than Toyota. I did the deal. The transaction was all on point with proper paper work. They did all communication with Toyota Motor Corp financing so I had no issues. Super easy transaction.

[@Blandberger]

ecosme1970 do you mind sharing what Toyota offered, and how long ago/mileage? Shopping around for that model. Thanks!

[@celpaz4584]

What advice for Subaru forester 2017. Should i sell it to dealer or try to trade in. I want to buy a Toyota

[@veronicaserrato9827]

Hi how much do you think 🤔 they would gave me for my Toyota Tundra SR5 2019

[@Drdavthomp]

Question: Are the taxes on new car rolled into the loan? If so, can you pay those taxes directly instead of paying interest on the taxes?

[@michaelterry3201]

i sold my f150 last year private sell for $19,000, Carmax offered me $13,000. That offer was insulting.

[@THEGAMINGHELP101]

It's crazy how selling private gives the buyer a good deal and the seller a good deal.

[@neubauerjoseph]

Yeah, car max gave me $11,800 vs a few dealers offered me for QX56 $16,000.

[@2011blueman]

@@THEGAMINGHELP101 It's not that crazy, private deals mean there is no middle man. Essentially the bid/ask spread is the middleman's profit. If there is no middle man then that bid/ask spread profit that the middle man would take home is split between the seller and buyer in some fashion so that they both get a better deal than they would if dealing with the middle man.

[@Joelsmediahere]

Hey how do you deal with the cash or cashiers check? Do you do this transaction at home or at a bank?? How do you verify if they give you a check? Does the bank verify it on the spot???

[@michaelterry3201]

@@Joelsmediahere at the bank and let the bank verify funds. Cash is king though. But always at bank or dmv.

[@stevemccooleq]

I see lots of people on CL trying to privately sell cars that still have bank notes on them. If you still have a note on your car it is very hard to sell it privately.

[@stevemccooleq]

Why would any buyer be dumb enough to give money to a seller and trust that they will get a clear title later?

[@hgarti919]

Nobody should trust anything that is not in a contract. You deal with the bank directly as they have departments that do this for a living. I sold a Range Rover with a small note on it, buyer’s bank dealt with my bank directly, he showed up to the DMV with a check for my $17k equity and everything was signed then and there. I bought my BFF a Passat and we called the seller’s bank, dealt with them, sent them a wire, gave him cash over and the title was delivered in less than 14 days.

[@mike15280]

So basically here’s what it is when you go to a dealership or a car buying company like Carmax etc. they will make you a quick easy offer for your car but it’s gonna be less than what you want but if you’re willing to sell your car privately then you have to put more work into it and turn you get to make more money so basically it’s your choice do you want quick easy money Or more money but you have to put more work in

[@MrMikey1273]

I like your channel. So here is my situation. I was looking to buy a used Tacoma used a few months back (December) that was so new it could still be financed as new. I couldn't get the payment I wanted because they were not willing to offer a fair trade in value for my 2006 Jeep Liberty CRD Limited. They were offering something that they called Kelly blue book instant cash offer. Not basing the offer off KBB or nada books values. The offer was about $ 800 - 1000 less than I reasonably expected after looking at the book trade in values. Since we could not seem to negotiate I walked. I have continued to save money and would like to just buy a new one in a few months when this pandemic eases up more. What advice could you give on how to best get rid of the Jeep and still get the most value out of it? It's well taken care of,I have owned it for over 10years. It has a very clean leather interior, runs great, has about 156,000 miles, new Pennsylvania inspection, the bad is the clear coat is pealing on the hood but good paint otherwise, no dents, nomajor scratches, very few minor scratches and no rust.

[@redd7188]

Look at it this way, the dealer uses the same method an investor uses on the stock market. That is buy cheap and sell high because the dealer is in it to make money. With the pandemic going on and the recession, a smart dealer knows that used car prices can drop significantly any day. If you want the best price then sell it privately. Much like the stock market where you buy, hold or trade, I would hold. Because I seriously doubt you will get top dollar from anyone right now.

[@MrMikey1273]

@@redd7188 yeah I have been looking at the trade in value on Carfax and KBB. It has dropped over five hundred dollars in the past month and a half compared to before the pandamic. I was thinking that if I thought I was getting ripped off on the trade in December now would be the worst time to trade it. Your advice sounds like I should hold on to it and my cash for a while and see what happens going forward since it's still a good running vehicle. I'd still be getting value out of use during that time. Then probably try to sell it myself once more people are going to work once more and have some money to spend. Being that it is one of the more rare models with a diesel engine there is a niche group that find it desirable. Focusing my marketing on that group might help me too.

[@hgarti919]

Great question. Timing is always a factor but works on everybody. Depending on the vehicle of interest, demand and supply are what move the price. If yours is valued at $500 less now but the car you want is aplenty, then you might end up paying way less for it now than when economy starts back up but cars are not coming out the assembly lines quickly enough. This time could be gold for you. If you are interested in used, maybe waiting a few more weeks would be good, unless it is a convertible car, but Tacomas aren’t ;) So bottom line, look at dealerships in a 300 mile radius and see what Tacomas they have that you like, and send in some feelers online to check on best deal offers, you might be surprised at the current situation.

[@jimharris9877]

Without question, selling your car privately is THEE way to go IF your car is in decent shape. By that I mean, that if you have maintained it, and allow the potential buyer to have the car checked out, a potential buyer will always pay you a sum that is a win-win for you and him, as compared to buying a used car from the Dealership lot, etc. That's been my experience and I'm over 65 and have been bought and sold my share of vehicles as a private owner.

[@bullpup33]

Carmax and all the dealers use KBB low...I "lost" 2k in two weeks. Not trading in suffice to say.

[@jmobs7524]

The sales tax offset does not apply in every state. California is one of them.

[@Anon1mous]

J Mobs Yup. CA is a total rip off state. Every time a car is sold, a car tax is done on the sales price. So a car can be sold say 10 times in its life and every single time, CA will collect the tax on each sale! Ridiculous!!!

[@747-pilot]

Not just that, but in most parts of the state you will pay at least 9% tax, pretty much one of the highest in the nation!

[@bamahama707]

@@Anon1mous There's an answer for that. Get OUT of CA!

[@lauraaday3230]

I will try to sell it privately its 2011 toyota corolla 87000 miles its great mechanically and inside great but can use so.3 body work and pain on the front its not bad its silver color

[@redd7188]

*****ATTENTION***** If you trade in, be sure to keep an eye on the payment account of the vehicle that you trade in. I once got a payment past due notice on a car that I traded in. You may have never experienced it but it happens more times than you think.

[@agr8fulson]

excellent point! when you transfer a car to anyone, remember to have both parties sign a (DMV Form) Notice of Transfer and Release of Liability. the buyer will happily sign this because it also protects him/her from any tickets/accidents/DUIs that were incurred while you owned the car. and of course, you are also protected from the same, including any car payments due after you sold the vehicle.

[@davefromiowa3843]

How does trading my car in affect my taxes in Iowa?

[@curiousmice]

Taxes offsetting doesn’t apply in California… :(

[@nealammerman6768]

Hey Zach.. just wondering why you want to get rid of that beautiful Volvo? Especially since you’re upside down? Why don’t you just keep it for a few more years and enjoy the use of it?

[@AW-fb8hr]

I'm wondering how he got upside down in a vehicle, especially with his dad being such a great resource????

[@manurao9965]

when I bought my first beater car, I sent half the money on Zelle, then the seller signed the title. I sent remaining half and then he gave me the title and key. I drove off his driveway & I'm still driving LMAO(the car turned out to be more than a beater)

[@robertbarry1792]

My leased car had a small insurance back bumper 10mph collision with another car and it was my fault backing up. Will I get pinged extra at lease expiration or selling even though it now looks perfect?

[@CarEdge]

Robert as long as the repair was done by a licensed repair facility and doesn't not require any additional work, you should not be dinged at lease end. Take care, Ray

[@davidwiley1360]

You mentioned that there's the sales tax advantage of a trade-in versus private sale or Carmax, because you only pay taxes on the net price of the purchase. You also specifically mentioned Maryland in this context. Isn't Maryland one of the handful of states that doesn't have this tax advantage, i.e. taxes the sales price irrespective of any trade-in? And does it make a difference if you purchase the vehicle in Maryland but title/register it in another state?

[@CarEdge]

Maryland only taxes the difference after the trade allowance. If you buy a car out of the state most dealerships today have the ability to structure the transaction based on the state where it is going to be registered.

[@davidwiley1360]

@@CarEdge Glad to hear it (from an insider). Some online resources state differently. Thank you.

[@jakesblotto7329]

Since I don't know ....Question if you put a down payment on a vehicle regardless of amount...does that amount change the sales tax paid on the vehicle?

[@CarEdge]

No, the down payment does not impact the sales tax. Stay safe, Ray

[@MrTIREMAN16]

It's funny this was a year ago talking about used car prices falling now used car prices are skyrocketing you can't even find new cars

[@gracefulfish]

You just busted yourself as Marylanders, by mentioning Gov. H. lol. I recently moved away from there, to an adorable spot in S. central PA. Where should I go if I am still paying the lease for a car on permanent loan to a daughter, and need an el cheapo to safely beat back and forth to Florida with 3 pets. Ugly is ok, and I want to buy peer to peer without getting pulverized. Craigslist has been invaded by dealerships, as has autotrader.

[@jimharris9877]

PS - you can sell (and buy) cars from an individual owner in a safe manner if you use common sense.

[@overthehilldill3626]

Just have a Navy Seal w/ you in full gear and you'll be otay Panky.

[@jaeshasway]

The scams are very intricate now. My mother is trying to sell hers and had two people interested, both trying to scam her. 1 even met her at a bank and was giving her 3/4’s in cash. He took the title and signed it in the leinholder section. My mother didn’t fall for it. She had to go to the DMV and get a new title. They said its a new popular scam where they give you money and take your title signing it in the lien holder section and then making you pay them back money saying that they gave you a loan. Thankfully I had been working with my mom and made her very skeptical of everything and everyone so she wouldn’t get scammed.

[@jimharris9877]

@@jaeshasway Good for you. As I said use your common sense and, what I call, your smell test. BTW, most States require a Bill of Sale to be signed by both parties. That would negate any argument the money was a loan.

[@jimharris9877]

@@overthehilldill3626 Apparently you live in a worse neighborhood than I do.

[@jaeshasway]

@@jimharris9877 Yep, she had that with her, but he took the title, jumped in the car and drove away. I didn’t describe everything that happened but it was very elaborate. He sent a mechanic and another guy to do the deal for him. My mom refused unless he showed up. He came and haggled about a price he’d already agreed to. Signed in the lien holder’s spot then drove away with it. My mother threatened to call the police. His friend called him and told him to come back. The friend had a check for $6000 and the bank had $7500 cash to give my mother. When he came back he backed out of the deal. My mom saw them taking a picture of the title before driving away. She immediately went to the DMV to apply for a duplicate title. They told her it was a new scam going on in the Las Vegas area and that she was lucky to have avoided it. People are desperate and crazy right now.

[@Justacogg]

I would be very afraid to buy a car from Carmax. They offer so little to people for their vehicles there has to be something drastically wrong with virtually everything on their lots. If they’re paying so little can you imagine how desperate that person must’ve been or ignorant or how many hidden gremlins are in those cars? I’ve visited a Carmax lot and every single one was at least a 20 footer. As soon as you got up close anyone can see those cars are ridden hard and put away wet!

[@jjminor]

Upon moving back to the US from overseas after 13 years I purchased my first car at Carmax. The transmission failed once after I had it for about 25,000 miles which Carmax covered thanks to my extended warranty It was in the process of failing a second time after about 60,000 more miles (120,000 on the odometer) when I just brought it in and sold it back to Carmax. The money was a great but I figured trying to sell it with the transmission that was failing would be pretty difficult either way.

[@BenChutes-ry8sq]

I owe 11,400.56 on my car but having issues with it ever since I got the car I want out of the car I got quite a few quotes they said it's only worth 5,000 to 8,000 it's a 2014 hondia enlancha gt

[@jcangler88]

Being a daddy's boy myself im loving you guys

[@mikegroft1569]

If I have my title in hand and sell it through a private sale ( dealership involved)no one pays sales tax correct??

[@jasonzhang7933]

The buyer pays the sales tax when that person registers it at the DMV, based on the agreed sale price on the title. Some sellers would help the buyer and write a lower sale amount, but that is illegal.

[@gregsprinkle8363]

What if you are trading a car that is worth more than the car you are buying? Trading a car worth 27K, buying one for 26. Is there a rebate on the sales tax?

[@CarEdge]

Greg you will pay no sales tax if you are in a state that gives a sales tax credit for the trade in. And no, there is no rebate for the excess trade amount. All the best, Ray

[@jeffpalmer9542]

Make a video on when should someone buy a new car? How long until dealers get desperate? Especially with all this 0% financing buying new could we the way to go over used.

[@freddieslaughter1107]

The average person always get screwed any where he goes to trade.

[@Cynical2012]

I seen this video and sold my Elantra to CarMax within three hours

[@jasonbusch3624]

Dealer offered me $500 on my 98 Dodge Caravan with Newer Engine and Transmission with paperwork for both. Had all newer brakes shocks front end parts tires etc... needed nothing. I was just upgrading for a economy car. Didn't trade in sold on Craigslist in 2 days for $1800 to the first guy that came out. On the test drive he didn't make it 200ft to my neighbors driveway and I knew he was going to buy it. He could tell it was a nice van right away. Never even tried to jew me down.

[@wlonsdale1]

A little racist there?

[@kurtbilinski1723]

The tax thing is not true in six or seven states... be sure to check your state.

[@augustinelark9638]

Carvana, & CarMax will offer clown price's for older well kept car's, only for them to fix it up make it seem like a newer car, & sell for 15k.

[@dimplesluv007]

If you take your car back to tje dealership you bought it from (like Nissan Automall) would they give you more than Carmax? Also, why would it take 2 weeks to a month to recieve your check from the bank? (If you have a remaining balance of the loan on your car?)

[@overthehilldill3626]

I bought a Geo Storm that i couldn't give away. I'm a bad car buyer. 😥

[@blakecunningham3937]

Is it worth it to pay to have your car detailed prior to sale?

[@krehbein]

I think so, but not too much. I spent less than a $100 on my 2016 Mazda CX-9. Unless your car is in rough shape and you want to get a good amount for it, then it may be worth paying for carpet shampooing, paint correction, etc.

[@patrickveilleux1984]

I have a 2019 Honda CRV EX model and owe $33,800, so I'm upside down about 10,000. Who should I trade this into? When? I want a 2019 Toyota Highlander, but the payments are around 650-750 a month with the negative equity. Should I wait till mid summer to trade at a Toyota dealer? I live in Minnesota.

[@obx421]

Not passing judgment, but I'd recommend taking care of that negative equity before I thought about another car.

[@XBY72]

I agree with Joshua. Sometimes we need to hear a truth we would rather not hear. Oil dilution is an issue with the Honda 1.5 turbo. Recommend you change the engine oil every 6 months or 5k miles and keep the receipts if you plan on selling the car privately in the future to give the buyer more confidence in the engine vs Honda's recommended 1 year oil change interval. Change out the CVT fluid as recommended too. Of course, none of this matters if you trade or sell the car to a dealer.

[@Gogogordy1]

Agree with 2 replies above: take your medicine on the current vehicle before digging a deeper hole for yerself on another.

[@matthewd.1474]

Pay your debt down and don’t be a debt idiot, right now your an idiot!.... obviously don’t care about your financial future by wanting to go into more debt. Small word of advice: Get out of debt, get out of debt, and never borrow for a vehicle, if you can only afford a $7k vehicle then that’s what you buy, find a good honest reliable Machanic and pay out of pockets on repairs and they aren’t that bad, and start watching “Scotty Kilmer”.

[@redd7188]

Pat, think about it like this. You got tired of your Honda in a year or less. What happens when you get tired of the Highlander but you have a 650-750 a month payment?

[@ITILII]

Sound still too much echo. And you wouldn't suggest that there may be unscrupulous people when we all KNOW there are ! Car dealers exist to make the media, banks, and politicians look good by comparison. And sell your call privately and make sure you observe the legalities and get your money safely !

[@patrickboyd3364]

What about selling your vehicle to we buy any car.

[@dp9897]

NEVER SALE OR TRADE IN TO A DEALER THIS COMES FROM ME A LICENSED DEALER . SELL IT AS A PRIVATE SELLER

[@dimplesluv007]

Can you explain why it takes the dealer (like Nissan Automall) 1 week..2 weeks..a month to get payment for your vehicle? (Assuming you still have a loan you're paying on the car? Ex 5k left)

[@dp9897]

@@dimplesluv007 Dealers always do paperwork in bunches never individualy so everything takes longer .

[@dimplesluv007]

@@dp9897 ok. Yeah they played me on the offer (dealership) mentioned fees to resell etc. I went back to Carmax..much better deal. 😌

[@dp9897]

@@dimplesluv007 Am glad it worked out for u. What did you purchase if u dont mind me asking with miles ?

[@dimplesluv007]

@@dp9897 I had a nissan sentra 2015

[@kenhuynh2447]

Sell it yo car max Take the cash to dealer put in the down No you pay 500 less on tax

[@scarletjazz]

I know someone who did this...she sold an Infinity SUV to Carmax, took that ck to a dealer and as a down pymt on a newer car. She was very happy.

[@leehampton1967]

I went with my sister to sell her car and this unknown character begin to “haggle with her😲risky

[@tommac5411]

You’re upside down with your Volvo? Lesson not learned?

[@CarEdge]

Sometimes you need to let your children learn real life lessons so that maybe they will value your advice in the future.

[@tommac5411]

I prefer not to discuss my own boneheaded moves over the years regarding cars!

[@wlonsdale1]

@@tommac5411 That's me too!!

[@Yorkiepoocharlie]

Do you feel that most Americans spend too much and have too little saved?

[@CarEdge]

Absolutely! It appears to be the American dream to acquire as much as you can while using other peoples money to do.

[@1jackvalley580]

Tons of fraud, but how is a gouging dealership any better?🤮

[@GuitarD30]

Carmax gave us a pretty crappy offer on my lady's Nissan Juke. We've been trying to sell it off and on for damn near a year on craigslist and offer up. NO ONE is interested in that dumb car and have had no offers even remotely close to a conservative KBB value. Lame but bird in the hand you know

[@CarEdge]

Maybe just maybe the KBB value isn't truly reflective of the market for your Juke. Stay safe, Ray

[@1jackvalley580]

Scotty Kilmer said "Never purchase a car at CarMax

[@misterrobot5520]

Sell, sell, sell lol

[@Anon1mous]

I would agree but for those who are not good negotiators or strong willed, CarMax is a good choice since there is no haggling involved. I do notice that heir prices are higher than normal and my understanding is that they make more $ per sale on average. I wouldn’t buy a car from them unless they had one that I really wanted down to the color and options.

[@1jackvalley580]

@@Anon1mous My friend purchased a vehicle from them and a few months later he needed a muffler and he went back to CarMax and they said it would be $1100.00 for the repair. I told him no way that's crazy 🤢, so I took his car to my mechanic and it cost less then $300.and that included an extra pipe. What's the lesson here? For me the lesson here is to do all my repairs at a very well trusted mechanic found by referrals

[@abbieanderson3191]

@@1jackvalley580 Please hello are you in the East Coast, I want to go and get my car fixed.

[@1jackvalley580]

@@abbieanderson3191 Sorry, but I'm not from the East coast

[@mikecastellon4545]

Sell your car to a dealer they said....they are honest and will give u lots of money for you car they said

[@jkirk1626]

15 minutes for 2 minutes worth of substantive content. Somebody edit down the slow talking, stuttering towny's inefficient prolix who can't seem to get to the point or give an actual answer to save his life.

[@OggleNaziChronicFarm]

or you could just not watch it. dumb shit

[@RamblinwithRobDawg]

This guy really has a lot of creditability talking on camera dressed in a housecoat.