12-21-2021, 10:45 PM | #45 |
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And just like that, it's gone. Took the $43k from Carmax and ran. Very easy transaction and I'm very satisfied with the payout. I'd recommend them to anyone in a similar situation who wants to sell and doesn't want to deal with private party.
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12-21-2021, 10:47 PM | #46 |
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Congrats man! Enjoy it in good health!
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12-21-2021, 11:07 PM | #47 |
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Thank you, sir! Still cant believe it's gone given how long I waited for the car (I was #2 in Seattle to take an M2 delivery back in December 2016). But I dont think i'll regret it ultimately. Other priorities in life right now.
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12-21-2021, 11:09 PM | #48 | |
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12-22-2021, 09:53 AM | #50 |
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Just sold a Mazda CX-5 that we paid $26.5k for in 2019 with 13k mi. for $30k private party. Simply do the transaction at your bank or theirs. The only verified funds are wire transfer or direct deposit. If the buyer has cash, meet at your bank and have your bank verify it's all real (by accepting it) prior to signing the bill of sale, title and handing over the keys. Only accept a cashier's check put in your hand by the bank representative.
For example, the buyer wants to give you a cashier's check. Response: OK. We'll meet at your financial institution and they can hand me a cashier's check. Keep in mind a buyer could buy a cashier's check from the financial institution and then hand you a fake one, so the cashier's check has to come directly to you from the bank. In my case, the only person I had to put trust in was the buyer's bank and rep representative. I had to trust that they would indeed pay off my loan and that the cashier's check they handed me was good. That was an acceptable level of risk for me. Private party sale is the only way to go. Those that don't go this route lose thousands of dollars. But I understand that some are afraid of the whole process so losing that money is OK with them. |
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12-22-2021, 11:01 AM | #51 | |
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I guess I should count myself lucky in being able to trade a few thousand $ for convenience. Honestly though I'm not sure how much more $ I could have gotten private party for a 5 year old M2 with an accident on the Carfax. Not like someone is going to roll in with $50k. So maybe a few thousand more but I doubt I'd crest $45k. Oh well, it's all speculation at this point. Its done and gone. On to the next adventure! |
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12-22-2021, 12:35 PM | #52 |
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Congrats on selling. I sold my last car a few months ago to the dealer I got my new car from. They actually beat the offer from Carmax by $2000. Carvana and others weren't even close. Shift was offering the most but I hadn't really heard about them and there weren't many reviews online, so I elected against it.
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12-22-2021, 01:30 PM | #53 | |
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1) Shift makes an online offer based on your inputs 2) Shift comes out and inspects your car and may cancel or lower their offer. 3) Shift takes your car away and spends 2 to 3 days inspecting it with a technician. They may cancel or lower their offer. 4) Shift wires you the money in about a week. At every point it seemed there was ample opportunity for their online offer to be whittled down and in step 3 you cant just walk away because they have your car hostage. Imagine how that convo goes "Yeah, you lowered my offer by $4k and are now below XYZ's offer. No thanks, I want my car back" and then some Shift jackass get to drive YOUR car back to you at their leisure. Meanwhile you've wasted so much time that your backup offers through Carmax or others have expired. yeah, no thanks. |
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12-22-2021, 01:56 PM | #54 | |
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12-23-2021, 11:35 AM | #55 | |
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12-23-2021, 11:46 AM | #56 | |
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02-09-2022, 08:45 AM | #57 |
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Thought I'd close out my thread here with "what happened" to my M2 after I sold it on Carmax, in case anyone is interested. As I posted earlier they offered my $43k for my 2016 M2. It was ready for 4 new tires, annual service, and had 1 accident on the Cafax. After I sold it I checked Carmax every day until finally, 35 days later, it popped back up for sale at a Carmax about 50 miles from the one I sold it at. It was offered up for $48k and change and in the description mentioned it had 4 new tires. it was online for 11 days before it disappeared, presumably to a new owner.
Overall I'm pretty damn happy with the deal. They charged 5k over what they bought it off of me for and had to invest in at least a new set of tires, some transport costs, buy/sell paperwork, title change, etc. They made money but I dont feel like I got duped. |
03-21-2022, 11:36 AM | #58 | |
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03-21-2022, 12:21 PM | #59 | |
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Remember that if you trade it in on a new car you only pay sales tax on the difference in price. So you have to get at least 10% over the dealer trade in to make it worth while to sell to anyone else. |
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03-21-2022, 01:01 PM | #60 | ||
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If i end up selling the car and not ise as trade it do i pay irs also? So if i sell it at carvana or something what percentage do i need to report to irs via turbotax? |
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03-21-2022, 01:08 PM | #61 | ||
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03-21-2022, 02:12 PM | #62 | |
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02-23-2023, 06:08 PM | #63 |
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02-24-2023, 08:37 AM | #64 | ||
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Spend 8 hours meticulously "detailing" the car or hundreds of dollars to have it professionally done = No. Waste of time and money if the target buyer is a dealer. |
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02-24-2023, 10:38 AM | #66 |
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LOl. Take a quote from a year ago and disagree. The used car market has changed from a year ago but my answer was correct then.
New car prices have also gone down from a year ago.
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