Carmax Appraisal

Discussion in 'Gen 3 Prius Main Forum' started by The Critic, Apr 30, 2012.

  1. The Critic

    The Critic Resident Critic

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    I took my Prius to Carmax today for an appraisal.

    These are the details of my car, so that you can gauge what the price was based from.

    2011 Prius Three
    30,000 miles.
    No exterior blemishes at all. No chips, no scratches.
    Interior is 9.5/10, misty grey cloth was freshly steam cleaned.
    New tires all around
    SET Fog Light kit
    TRD springs, TRD rear sway bar.

    Their offer was $20,500.

    I was surprised by how strong the offer was. Edmunds' value for a "clean" car of these specs are as follows:

    Trade-In: $18,478
    Private Party: $19,747
    Dealer Retail: $20,705

    So, they are offering $200 under the Dealer Retail value. My car is essentially "frontline ready." No detailing is needed at all. I'm sure Carmax will list it for 24k.

    Point is, I am surprised how well the Prius has held its value. I paid near MSRP for it last June and I would only lose 20% after 1 year and almost 30k (essentially 2 years of mileage).

    Has anyone else had their Prius appraised lately?
     
    2 people like this.
  2. mattheikkila

    mattheikkila New Member

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    I'm not entirely shocked, went to a car auction in San Francisco last year and Priuses were a really hot commodity. I would assume resale street value is amazing. People were willing to shell out $20,000 cash for year old Priuses. Funny, when besides those couple Priuses the most anyone was paying for a vehicle was like $5000.
     
  3. Dark_Prius

    Dark_Prius Member

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    Not true, my sister prius, 2010 prius 3 with 50 k miles, good condition, no accidents.

    Carmax offered her 13k. I told her to keep the car.

    GT-N7000 ? 2
     
  4. The Critic

    The Critic Resident Critic

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    That is weird. This was a Carmax in SoCal as well.
     
  5. Dark_Prius

    Dark_Prius Member

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    Yes socal, i was pretty suprised and thought they were trying to low ball her

    GT-N7000 ? 2
     
  6. mickey513

    mickey513 Member

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    I think the price you got was because of the usually high gas prices in southern CA. Gas prices have drop but it's only a matter before it goes back up .... like summer in a few months.
     
  7. SageBrush

    SageBrush Senior Member

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    msrp of the P3 is now 25.5k usd. You are benefiting from Toyota price increases
     
  8. ChipL

    ChipL Active Member

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    I haven't gotten a value on my 2012-P2, but can say they gave me $9000 for my average condition Subaru Baja, I pegged the value at around $7000. So I tend to trust Carmax on trade values.

    They will explain the reasons if you feel that the trade was too low in your estimation. But used Edmunds to look at the value of your sisters car, and it was about $1000 off of what Edmunds listed for average condition for zip code 90001.
     
  9. bisco

    bisco cookie crumbler

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    are they ready to cut you a check on the spot if you accept their offer?
     
  10. The Critic

    The Critic Resident Critic

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    Yep. Though the offer is also good for 7 days so you do not need to take it on the spot.
     
  11. ikagan

    ikagan Junior Member

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    Our local CarMax has a 2011 Prius Two with 29K miles listed for $23.9K.
    I decided to get a new one...
     
  12. ChipL

    ChipL Active Member

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    They were in my case.... They were ready to let me take a check for my Baja to take back to Koons Toyota Tyson for $4k less for a 2o11 that was just a thousand more than a 2012 that I was really wanting, than a 2011 that I was willing to settle for...

    For those in the DC area, Check out Carmax/Laurel Toyota and ask for Joe V.
     
  13. SageBrush

    SageBrush Senior Member

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    lol.

    I lost you after "They were in my case.... They were ready to let me take a check for my Baja to take back to Koons Toyota Tyson"
     
  14. Skoorbmax

    Skoorbmax Senior Member

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    This is Carmax. A Prius like yours I think they'll list at $39k, maybe $180k, some of their car prices are offensive, actually offensive.

    That is not a bad offer, though. I had three cars appraised at Carmax before. One I was happy with, one was ok, one was so bad I couldn't believe it; just absolutely bullcrap. It's almost like they kind of throw darts at the wall when trying to figure what they'll give you. But, it's a painless endeavor bringing it in and worth the effort if you are genuinely interested in selling.
    Case in point. There's no way that car is worth only 65% what the OP's car is, total nonsense!
     
  15. ChipL

    ChipL Active Member

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    My bad :eek:
     
  16. pri2b

    pri2b Junior Member

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    I sold my 2009 Prius pkg.6 lease with 33,000 miles to Carmax for $19,000
     
  17. fumbling

    fumbling Junior Member

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    two weeks ago, carmax offered me $18,000 for my 2010 Prius IV with sunroof/leather/NAV, 50,000 miles, very good condition, winter gray. Southern CA.
     
  18. adamace1

    adamace1 Senior Member

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    That sounds good for them. Back when my car was 6 months old they offered me 15k and they were selling them at the time for 21,900. So they were making 7 grand per car.
     
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