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Carmax buy price for 2017?

3343 Views 21 Replies 8 Participants Last post by  bro1999
Anybody have any experience selling Carmax a 2017 LT? I'm wanting to get a price from them as a potential easy way to get out of my lease since I am moving and the cost to ship the car is pretty high. I know it's best to just go there but where I live there isn't a Carmax nearby so was wondering if anybody had an idea of what they pay before I drive an hour.
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I'm curious to what loopholes there are in the same state restriction...You purchased from KY and are a KY resident, but what if you move? Seems like there'd be some legal headaches for lenders to only approve transfers at the state you purchased it in...Can you simply change your address online and then sell? Clearly accepting a CarMax offer is thousands if not a ten thousand loss...Could you just open a Cali P.O. Box find someone to take over the lease and pay $595 fee and $700ish bucks to ship? Its really not a lot of time or effort and you could save up to ten thousand...Really easy to get started, simply call the lender tell them you're moving to Cali next week and wanted to transfer to a Cali resident, see what they say...

For the record, my $36,2XX MSRP Volt received an offer of $25K but that was last summer, I believe that was on of the first MY17 of any vehicle CarMax had to deal with so I think the offer was inflated...I got lucky and had three other "we beat carmax" places compete, I'll recheck, I wrote a check for the payoff for just under $100 to sell it, however, I received a $1500 incentive from Cali which I'm supposed to pay back the prorated portion...Widely reported they rarely come after you but some reports of if you get another PHEV/EV they'll deduct your previously owed amount from the new incentive so I'm not out of the woods yet...
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The person taking over the lease must register the car in the same state as the original lessee. And GMF confirms all this before proceeding with the transfer (driver's license copies and everything), so unless you have a license in the same state, it'd be mighty hard to get approved without being an actual resident.
Thanks for the info...So one would need to acquire a drivers license which may work for some in certain situations mainly those who legally claim residency in another state but who do not yet have that states license...With half of all PHEVs/EVs sold in Cali, Cali makes the most sense if one is looking to transfer a PHEV/EV...Yet it's also a ton of effort to obtain a Cali license as once get the required documentation, you have to show up to a CA DMV in person (that's a ton of effort in itself) and take a written test even if you hold a license from another state...
Carmax in Indianapolis offered me $21,000 today. 2017 LT with 6100 miles. So obviously won't be taking that offer.

When I talked to GM regarding the lease they said that if I move then the policy just shifts to the new state and I have to transfer the lease to somebody in the new state.

The issue for me is in California the leases are way less to begin with so my $299.91/month lease is not attractive vs. just leasing a brand new one. In my area though my lease price is really good so hopefully I can just find somebody local to take it over.
Thanks for reporting...

I would agree now that I know the price, it wouldn't be worth it here in CA...As I'm sure you know, you can incrementally increase the take over incentive so doing trying to swap in KY may be your least expensive method to get out of this...
Not true. Current zero down, tax included, all fees included deals are about $260 per month. It's not worthwhile to change cars.
Not sure how much KY specifically charges but yes, doubtful he'll be able to swap without putting in an incentive...So the question to the OP is how much would you pay to get out of it? $500? $1000? etc...If it's not at least a thousand the best course of action is to keep it...Bonus in Cali is they can get the HOV sticker...Just be glad you didn't purchase it or you'd be looking at over a ten grand loss...
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