CarMax Vs KBB Instant Cash Offer- CarMax vs KBB instant cash offer… which is best? Are you going back and forth between selling your car to Kelley Blue Book and utilizing their instant cash offer? Or are you looking to sell your car to CarMax? Decisions like this can question lots of things. While there are great companies that offer a no hassle way of selling a car, it helps to examine KBB and CarMax, huge entities when it comes to selling a car.
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So, we will examine what the Kelley Blue Book Instant Cash offer is, compared to selling your car to CarMax. You can soon make a more informed decision!
What Is Kelly Blue Book Instant Cash Offer? – Instant Cash Offer FAQ
The Kelley Blue Book℠ Instant Cash Offer is a solid offer for a particular amount of money, to purchase a consumer's car.
A consumer can also apply the amount toward another vehicle. “The Offer is valid for 3 days (not counting Sundays) and can be immediately redeemed during business hours at any Participating Dealer, pending inspection,” adds Kelley Blue Book.
The Kelley Blue Book℠ Instant Cash Offer is a solid offer for a particular amount of money, to purchase a consumer's car.
A consumer can also apply the amount toward another vehicle. “The Offer is valid for 3 days (not counting Sundays) and can be immediately redeemed during business hours at any Participating Dealer, pending inspection,” adds Kelley Blue Book.
How does KBB compute the Instant Cash Offer?
The Instant Cash Offer a customer receives, is computed by a proprietary tool that takes into account an unstable auto market and its conditions. Other factors such as current stock prices as well as day to day auto operations are also apart of the Instant Cash Offer. “The calculation includes multiple data sources…” adds KBB. The company also takes into consideration additional elements such as:
Details of a car
“Our tool factors in details that are specific to your vehicle and critical to its evaluation, including mechanical condition, options, interior and exterior, mileage, year, make and model,” states KBB.
Both supply and demand
According to KBB, vehicle consumers have a big role in deciding upon the final value of a car. “When more buyers demand a particular vehicle, and its inventory is down, the value goes up,” states KBB. “For example, when gas prices are at a premium, fuel-efficient vehicles may be in higher demand and sell for higher prices,” adds KBB.
Trends from History
KBB also views what history states about auto trends. KBB states that many cars hold merit and are in greater demand than other vehicles. “Similarly, sometimes transaction prices for vehicles steadily increase over time, making those cars a more sought-after commodity,” adds KBB.
Differences that vary from region to region
According to KBB, many car buyers may be willing to pay vehicle sellers higher prices for the same car, depending on the region that the seller and buyer are located in. “For example, buyers in rural areas may consider large trucks more valuable than buyers in a city where parking spaces are tight,” adds KBB.
Influences from the local market
KBB also adds: “We also take into account comparable vehicle sales in your area – this information may include dealer sales data, auction prices, and private seller prices from local advertisements.”
Does it cost anything to get the Instant Cash Offer?
No! it is completely free, according to Kelley Blue Book.
How long does getting the Instant Cash Offer take?
“You will typically receive an Offer within minutes,” states KBB. Many consumers may take a bit longer to get their Instant Cash Offer because of heavy volume. “The Instant Cash Offer program is not available for all makes and models, so if your vehicle falls into one of the unavailable categories, you will not receive an Offer,” states KBB.
My car isn't the best looking used car. Can I still get an Instant Cash Offer?
“Yes, if your car is not in an otherwise excluded category,” states KBB.
How do I know if my car is ineligible for the Instant Cash Offer?
Lots of reasons may make a car ineligible for the Instant Cash Offer. “Some possible reasons include, but are not limited to, title issues (salvage, grey market, taxis or limousines), market volatility, lack of market data, unresolved recalls, low value due to age or condition, aftermarket equipment, or if the vehicle has been at an auction within the last 45 days,” states KBB.
Click here to read more from the Kelley Blue Book website.
Is KBB Instant Cash Offer good?
We took the time to find consumer reviews of the KBB Instant Cash Offer. Check out what some folks state!
Customer Number One
This particular customer wanted to know an approximate value for his 2006 Rav4: “I wanted to know the approximate price range for my 2006 Rav4, 120,000 miles. So I went to the KBB site, answered all the detailed questions, went outside to write down the VIN and license plate number and guess what — no answer to what my car is worth. Just a listing of all the dealers who would like to sell me a new Rav4. Three of them have already emailed me that they'd like to do business with me in the selling of my car. I don't want to buy a car; the RAV4 is now excess to my family's needs and I want to sell it. Kelley Blue Book didn't help at all. I went to the effort of filling out their questionnaire and got nothing for it! I feel that I've been had!”
Customer Number Two
This customer had a very different experience with the KBB Instant Cash Offer: “Kelley Blue Book is perfect way to sell your car if you don`t want to deal with tire kickers, time wasters and no showers. Their process is fast, simple and easy to understand. Most of the reviews here are posted by people who tried to lie in their ICO statement about the condition of the vehicle and got mad because the damages that they tried to minimize or hide were discovered by the appraiser. I will give you a simple advice. Do not put false information and you will not get false numbers for your car!”
CarMax Vs KBB Instant Cash Offer – Is CarMax the best place to sell your car?
This question is a question that lots of consumers ask and the answer always depends upon the needs as well as objectives of the car seller.
Let's examine CarMax as well as their history.
CarMax, A place with lots of used cars!
CarMax the country’s largest used-car retailer is also a Fortune 500 company.
The first CarMax surfaced in September 1993 the company focuses marketing used vehicles as well as buying them.
Generally, a CarMax store is about 59,000 square feet. Consumers can find an array of vehicles- on average about 300-400.
Additionally, there are about 40 employees per store. Vehicles go through a thorough 125-point inspection. Once a consumer receives an offer to sell their car to CarMax, that offer is good for seven days.
Does CarMax Offer A Great Deal To Car Sellers?
We checked into the experience of a car seller to listen and view his selling experience.
One customer wanted to get his old Mercedes Benz appraised. He was curious what CarMax wanted for the car.
He took his old Mercedes Benz Sl500 down to CarMax.
Additionally, the vehicle owner further states that his car's merit ranges between $7,000 and $30,000.
He believes that he will get at least $10,000 for the old luxury car.
While the consumer is filming, he records his experience with a CarMax appraiser who informs him that the appraisal will take about 30-40 minutes.
He noted that the appraisal team declined his request to join in on the test drive and the appraisal.
“It took about an hour…. an hour or so”, noted the consumer.
When it was all said and done, he displays his appraisal certificate and it states $4000 for his car.
“When I bought this car, I thought I bought it under market value, ” states the CarMax consumer.
In the video, he also points out that he has over 83,000 miles on the vehicle.
According to the consumer, he noted the things that he learns that go into a CarMax appraisal:
- The inspection of the car/condition of the car
- The location of your vehicle
- Vehicle's demand- who wants it? Is it a popular car? “Mostly with Mercedes Benz and BMW cars, they[CarMax] don't usually offer anything higher or a higher price for cars that are over 70,00 miles.
Click here to view and listen to more!
CarMax Vs KBB Instant Cash Offer – Which is Best?
Customer Number One
One Mustang 2007 Mustang GT Turbo owner looks up the value of his vehicle and sees “around 9,000” from Kelley Blue Book.
He noted that in his surroundings and neck of the woods, Mustangs are quite popular.
So, he travels to a dealership to see what he gets for his Mustang.
He stops at a Chevy dealership first, to get his Mustang appraised.
“Well that was absolutely crap,” the Mustang owner states after leaving the Chevy dealership. The dealership offers him $5,500.
Click here to learn more!
Customer Number Two
This customer bought2004 Toyota RAV4 for $139.42. The transmission was not up to par.
As he chronicles his trip to CarMax, the viewer sees him stopping to make fixes to the car.
After getting his Toyota RAV 4 appraised, he documents that CarMax offered him over $1000!
“We spent less than $150 on this car,” adds the Toyota owner. “We were expecting like seven, eight-hundred bucks,” adds the SUV owner.
He calls his offer “amazing” from CarMax. “Take your car to CarMax,” he adds. “They will give you a fair price.
CarMax Vs KBB Instant Cash Offer – Is CarMax better than a dealer?
It depends on who you ask.
With their famous tagline “The way car buying should be”, CarMax has definitely built a reputation as a substantial in the used car buying and selling game.
Furthermore, their website states that they: “…rule out millions of cars, and every car we sell is CarMax Certified.”
They also add that they offer: “… one upfront price, a car history report, and all the answers you need, for every car.”
They further state that they buy “all kinds of cars.”
“Whether it goes on our lot or to auction, we want to make an offer for your car,” adds CarMax.
What's needed to sell my car to CarMax?
“Requirements can vary from state to state”, adds CarMax. But they offer a general list of needed items to sell a vehicle to them:
- The title of the car or payoff documentation and information. CarMax also requires that all titleholders once ready to sell the vehicle.
- Current as well as valid car registrations.
- All title holders must have a valid and state ID.
- Remotes and keys for the car.
CarMax adds: “Please note that you don’t need these things to get an offer for your car, but if you think you plan to sell when you get your offer, you should come prepared with these items.”
Does CarMax offer more than KBB?
A lot depends on your vehicle. There is no cut and dry answer to this as you will have to do some investigative work on your own.
CarMax is indeed the biggest seller of used cars here in the country. Additionally, the company has more than 120 stores nationwide.
So, if you find that a dealer wants to scam or low-ball you, you can try your luck at CarMax.
Check out these safeguards you should take before selling your car to anyone:
Know your car's worth
Whether you have a junk car or a great used car, you have to know the value of your car. You must be an educated car seller and this is one sure way of doing this.
Have an idea of the current price of scrap metal
This is important information, especially if you have a car that has some issues. A car with problems will not garner a huge payday.
Knowing the ever-changing price of scrap metal is a great idea at all times.
What works on your car and what doesn't?
As a car seller, you have to know if your car is even worth selling to CarMax or getting a KBB Instant Cash Offer. So, do your research and find out what works on your car and what doesn't!
Cash Cars Buyer will buy your car!
Whether you have an old, wrecked or junk car, get an instant offer on it fast and sell it so us! 844-663-7286!
We buy all makes and models!