Carmax offer

[acturater]

2014 S4 premium plus
20k mi
DSG
Nav
19" peelers
Leather interior
All back to stock, exterior in great condition

Offered $34.5k by Carmax. Feels a little low doesn't it, even for Carmax?

[Eggrollz4u]

According to KBB it's pretty a pretty decent trade in offer.


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[d.p]

I sold my 2014 to carmax back in March of 2015 with 14K for $41K. I thought it was low too but at the end of the day it was worth it to me to move on from it. Seems like they are on par with current prices now.

[s4buckeye]

No, that's actually above the wholesale price on Manheim which is $33/33.9k. With your miles and other variables their price appears to be spot on.

Ignore BlueBook. If you are not using Manheim, Black Book or NADA you are wasting your time.

[Senseless]

If you trade it in, it's worth an extra $2000 for the 6% tax credit. $2700 for city residents. (8%)

[agorich]

If you trade it in, it's worth an extra $2000 for the 6% tax credit. $2700 for city residents. (8%)

....this. unless you plan on pocketing the cash and maybe grab a lease deal where they pay the taxes for you.

[acturater]

....this. unless you plan on pocketing the cash and maybe grab a lease deal where they pay the taxes for you.

Thanks for the tip. So am I understanding that if I traded in for another lease I can claim $2k in deductions (so about $400 in cash)? Anywhere I might be able to find more info?

[jsh139]

Thanks for the tip. So am I understanding that if I traded in for another lease I can claim $2k in deductions (so about $400 in cash)? Anywhere I might be able to find more info?

What Senseless and agorich were referring to was the trade-in tax credit you get in PA (and some other states) when you buy a car. If you buy a car for $20,000 and trade in a car for $5,000, you would only pay PA sales tax on the difference ($15,000). So, what they were saying was that if you traded in your S4 and bought another car, you could save some money on taxes for the new car ($34,500 * .06 = $2,070). It's basically a refund for the unused value of the original sales tax you paid.

However, I do not believe that there is any tax credit to be had (at least in PA) for leasing a new car. Also, if your current car is leased, then there is also no tax credit to be had in any situation because you haven't yet paid sales tax on the remaining value of the car.

[The Fat Kid]

No, that's actually above the wholesale price on Manheim which is $33/33.9k. With your miles and other variables their price appears to be spot on.

Ignore BlueBook. If you are not using Manheim, Black Book or NADA you are wasting your time.

Manheim

If you trade it in, it's worth an extra $2000 for the 6% tax credit. $2700 for city residents. (8%)

This.

[jzamorski]

Does Manheim require a subscription? Trading my car in later today and just curious what value is there. 2013 Prestige,DSG with 48k miles

[smohr33]

That's not terrible. As a reference point, I just traded my 2015 with 14k miles, similar options to your car for $40,000. With NY sales tax benefit of 8.625% I would have had to get $43,450 privately to match it, and that wasn't happening, so I'm very happy.

Most offers were 37.5k to 39.5k, those dealers were all planning on wholesaling the car. I was lucky and found a dealer they gave me the 40k because they planned on retailing it. Keep searching for a better deal.

[chaos2984]

CarMax is always going to be on the bottom of trade in values. I went to CarMax before with my B7 S4 and they wanted to offer me 5K less than what a dealer would for trade in. They really don't like cars that they cant turn around quickly. They are all about fast turn over.

[Dominick's S4]

I traded in my 2014 Audi S4 Premium Plus loaded (see my signature) with 37,000 miles on it in December and they gave me $33,500.. It needed 4 tires and it also noted "minor structural damage" on the carfax report.. (I was rear ended with 4K miles on it)

[acturater]

CarMax is always going to be on the bottom of trade in values. I went to CarMax before with my B7 S4 and they wanted to offer me 5K less than what a dealer would for trade in. They really don't like cars that they cant turn around quickly. They are all about fast turn over.

I was just offered $34k (I am OP) from an Audi dealership (technically the sister Porsche store). That's even lower than Carmax. What's going on here...

[smohr33]

I was just offered $34k (I am OP) from an Audi dealership (technically the sister Porsche store). That's even lower than Carmax. What's going on here...

They are probably going to wholesale it. Find a dealer that wants to retail the car and you might get more. I traded to a Porsche store and shopped at least 10 dealers. There was a $2.5k range from highest to lowest trade offer...

[d.p]

CarMax is always going to be on the bottom of trade in values. I went to CarMax before with my B7 S4 and they wanted to offer me 5K less than what a dealer would for trade in. They really don't like cars that they cant turn around quickly. They are all about fast turn over.

Not true at all. Just because yours was bottom of the barrel doesn't mean everyone else's is.

[s4buckeye]

Not true at all. Just because yours was bottom of the barrel doesn't mean everyone else's is.

this.

as usual, don't always trust what you read on the Interwebs (and AZ for that matter).


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[Laxinthe303]

Put it on Cars.com for 40k.

https://www.cars.com/for-sale/search...=GN_REFINEMENT

[VenturiRS]

I traded in my 2014 Audi S4 Premium Plus loaded (see my signature) with 37,000 miles on it in December and they gave me $33,500.. It needed 4 tires and it also noted "minor structural damage" on the carfax report.. (I was rear ended with 4K miles on it)

No accidents on record, but similar miles. Should I estimate my value at the same or slightly lower?

[acturater]

So to close the loop, I sold to an Audi dealership for $34,500. Same as the Carmax quote. And guess what, they just listed it for $41k.

[agorich]

So to close the loop, I sold to an Audi dealership for $34,500. Same as the Carmax quote. And guess what, they just listed it for $41k.

yeah...haha. the past few cars I have traded in pop up about 7k higher than the value they give me for the trade in. For example: I traded in my 2010 F150 Lariat super crew KBB had the value between 17-22k for dealer trade in. I was happy at 18 but they gave me 19500 towards the s. They had about 2k worth of 60kmile service items to complete and had it listed at 24,950 a few weeks later. What is next to drive?

[mr shickadance]

CarMax is always going to be on the bottom of trade in values. I went to CarMax before with my B7 S4 and they wanted to offer me 5K less than what a dealer would for trade in. They really don't like cars that they cant turn around quickly. They are all about fast turn over.

not always, it really depends on the car you trade-in. Sought after cars are going to be snatched up my carmax for a better price bc they can move them faster. It has a lot to do with outside factors.

For example - I shopped around my 2014 STI before going to carmax, the most I could get any dealer (I went to 4) to offer was $31k, Carmax offered $33k, the sales guy told me that because its a sought after car, they could move it in less than 3 weeks, therefore the offers go up.

now, switch the role and offer maybe a similar year, similar mileage, but an A4 instead of an sti, and I am sure that the other dealer offers are going to trump carmax because carmax has a ton of A4's in their inventory.

[blackfunk]

not always, it really depends on the car you trade-in. Sought after cars are going to be snatched up my carmax for a better price bc they can move them faster. It has a lot to do with outside factors.

For example - I shopped around my 2014 STI before going to carmax, the most I could get any dealer (I went to 4) to offer was $31k, Carmax offered $33k, the sales guy told me that because its a sought after car, they could move it in less than 3 weeks, therefore the offers go up.

now, switch the role and offer maybe a similar year, similar mileage, but an A4 instead of an sti, and I am sure that the other dealer offers are going to trump carmax because carmax has a ton of A4's in their inventory.

^This X 1000

Not just that but it also depends where the car is being sold. 4wd isn't a big selling point to someone is Southern CA but to someone in MA it makes all the difference. It also does depend on when you take your car in. Taking a rwd car in for trade in November is gonna get you lowballed because most likely that car is either going straight to auction or it has to sit on the lot until the spring. Trying to sell your S4 to a Toyota dealership is gonna get you low balled as well because their typical customer isn't looking for that type of car. Trading it to a BWM or MB dealer will net you better results.

Carmax also has an inventory of cars that they keep on hand so selling them a car that is currently filling their coffers means it has to go to auction. Auction prices means thats what previous similar cars have sold for so that what they'll offer and not a $1 more. Also if they keep your car A) They have to make a profit B) there is liability involved - car has to be inspected, cleaned etc - someone has to pay for that. C) Thats the asking price its not the actual selling price D) They pay interest on the loan they took out to buy your car so that has to be factored into the price.

We all feel like our cars are worth more than they actually are but the reality is that its worth exactly nothing more than the next car that was driven in the rain (some poeple won't drive their cars in rain or snow (crazy I know)) so deal with the derpeicating asset and sell it before it looses even more value at approx $500/month for the first 3yrs.