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  #1  
Old 05-31-2014, 04:24 PM
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Carmax Appraisal

I just got back from getting my 2014 Grand Cherokee appraised at Carmax. It is a Dark Green Limited model with Navigation and a trailer hitch. The rest is pretty much what comes on a Limited Edition Grand Cherokee. I have had the car since October 2013 and it has roughly 9000 miles on it. It also has a 6 year/60,000 mile warranty. No accidents, dings, chips, scratches, etc.

Carmax offered me $31,000.

Has anyone else had their vehicles appraised and what sort of offers were you seeing?
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Old 05-31-2014, 06:08 PM
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Re: Carmax Appraisal

what percent difference is that from sticker?
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Old 05-31-2014, 06:30 PM
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Re: Carmax Appraisal

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Originally Posted by protect1989 View Post
I just got back from getting my 2014 Grand Cherokee appraised at Carmax. It is a Dark Green Limited model with Navigation and a trailer hitch. The rest is pretty much what comes on a Limited Edition Grand Cherokee. I have had the car since October 2013 and it has roughly 9000 miles on it. It also has a 6 year/60,000 mile warranty. No accidents, dings, chips, scratches, etc.

Carmax offered me $31,000.

Has anyone else had their vehicles appraised and what sort of offers were you seeing?
Does yours have V6 or V8? And is the trailer hitch part of the ORA II package, or a la carte? Looks like you've got the standard headlights, so no Lux II group and no sunroof. I've had CarMax appraise 3 different cars for me; they were low on 2 and really really low on 1. The third one they offered me $5,500.00; sold it myself on Craigslist for $11,500.00. Offer they made you would only be reasonable for a V6 with no ORA package - and even then I think it's low. What are you buying next?
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Old 05-31-2014, 08:28 PM
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Re: Carmax Appraisal

What was your MSRP sticker price?
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Old 05-31-2014, 09:01 PM
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Re: Carmax Appraisal

I need to go find my sticker but i believe it was around 37 or 38k. Ill double check. It is a V6 and the trailer hitch was installed post delivery but it is all OEM and installed by a Jeep Dealership. I know that it makes a difference if it was stock or not but it sure as hell looks like it came with the vehicle.

Ive been extremely disappointed in my Grand Cherokee for the amount I paid for it. At this point I am considering getting a used sedan and a wrangler. A business vehicle and a play thing. Im only in the starting stages of this hunt. Ill find the sticker price next time I go to the garage and check my vehicle.
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Old 05-31-2014, 09:11 PM
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Re: Carmax Appraisal

The sticker really means no more now than when you bought the Jeep. What was your pre-tax cost compared to their assessment?

Some people would call the difference what you lost. In actuality it is the cost of driving the Jeep for 9,000 miles.

I hope you find what you are looking for.


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Old 06-01-2014, 12:14 AM
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Re: Carmax Appraisal

With normal use......12k a year i would suspect 50% depreciation from sticker after 3 years.

So about 17% a year.


38k less 17% = 31,5.
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Old 06-01-2014, 09:25 AM
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Re: Carmax Appraisal

$31000 for a '14 sounds low to me. I'm considering trading my '12 Ltd. on a '14. KBB values it at $31,400, and Edmunds values it at $29300. It actually went up in value on both sites since last month.

Is there estimate on a trade or an outright purchase?
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Old 06-01-2014, 10:46 AM
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Re: Carmax Appraisal

I was just looking at KBB and marking the vehicle as "Very Good Condition" ,with the options and milage my vehicle has, its giving me a dealer trade in range of $31,700-$32,900. As a private sale in the same condition category, around $34,000.

If I switch it to "Excellent Condition" (which the vehicle is in excellent shape). The dealer assessment is $32,400-$33,600 while private sale is around $35,000

Carmax is definitely a low offer. The best bet is private sale but thats always a hassle.
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Old 06-01-2014, 01:24 PM
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Re: Carmax Appraisal

I sold a car to Carmax a few years ago. They will always be low on trades, but in return you get convenience. You just have to decide if it is worth it or not. On the plus side you go in there, and within an hour you walk out with a check in hand, no hassles, negotiations, salesman walking back and forth to the sales manager, etc. The same thing with buying a car from them - no stress, quick and easy, and very expensive. That's how they make their money after all.

I think the best use of Carmax is to go there before you trade a car in for a new car. When the dealer low balls you on your trade, which in my experience they always will, you can show them the Carmax offer and that pretty much ends the B.S. They know you can get that much without even trying so the negotiation starts there instead of their low ball price.
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Old 06-01-2014, 01:40 PM
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I always get what kbb and/or Edmund's lists. The idea is that you want two transactions. First negotiate the price for the new vehicle. Once you are happy with that you discuss the trade. If the dealer won't agree to the estimate in your hand from kbb, Edmund's, it's time to walk.
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Old 06-02-2014, 08:58 AM
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Re: Carmax Appraisal

If trying to sell your vehicle yourself doesn't bother you, do it that way. When I tried to sell my 08 Trailblazer last year, it took 3 days. I've sold our last 3 cars myself, the longest being about a month from posting it to signing papers. To me, it was worth the extra $$ that we got for it doing it ourselves.
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