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Discussion Starter · #1 ·
Took my 2012 Sonata Turbo with navigation to Carmax for an appraisal yesterday.

56K miles in great condition: offered me $8,000.00.

Don’t know if it’s good or bad!
 

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It would retail around $11,500, so $8,000 cash from dealer is about right.
If it's in excellent condition and nothing needs to be done with the car, except maybe a detail, might find a dealer that will offer closer to the retail price, but they all want to make $2,000 + for their troubles.
Color also makes a different in pricing.
 

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Like Turbonut says, they are going to want to be able to make money on the car. They aren't buying it to use, they are buying it to resell, they can't give you retail and make any money. When you trade a car in, they can always inflate the "trade in value" because they are working off the MSRP of the car you are buying, which has several thousand built into it for profit to begin with.
 

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Bought my '14 SE 2.0T, Blue Indigo Pearl with ~40k miles on it for < $16,000 last year. In the Phoenix area, anything under 60k miles(even GLS) were going for $14k and up. The next closest I could buy a 2.0T was over $18k. So looking at 16k more miles and 2-more years, 8k sounds right for a trade in price. A check of KBB for a 2012 SE 2.0T in Good condition in your area is $6519-$7678, so it seems you're ahead of the curve a bit.
 

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Carmax is bnasically the same as wholesale but many times better than a dealer will give you. Private sale is always the best for the highest price.


Check Edmunds or Kellys for comparisons.
 

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Selling private is the way to go. Be honest and transparent about the car. How I look at when writing my ad was what would I like to read about a car to give me a comfortable feeling about the previous owner. Have sold 3 of my prior cars on CL, all within 24 hours of listing. I priced them reasonably to get it sold since I was anyway way ahead than trading it in. Mentioned all service records in details, including minor stuff shows you cared about the car.
 

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Selling private is the way to go. Be honest and transparent about the car. How I look at when writing my ad was what would I like to read about a car to give me a comfortable feeling about the previous owner. Have sold 3 of my prior cars on CL, all within 24 hours of listing. I priced them reasonably to get it sold since I was anyway way ahead than trading it in. Mentioned all service records in details, including minor stuff shows you cared about the car.
Agreed. I even lead off with cons rather than pros so that a potential buyer is aware of all issues up front before being sold on anything. Sold several cars on CL for the past fifteen years, never have had an issue.
 

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Discussion Starter · #9 ·
Well guys, thanks a bunch for all the responses! Went ahead and traded it in for a brand new 2018 Genesis with the #2 package!
 

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So, did the trade come in around what Carmax was offereing. Of course, the dealer can play with the sales price and trade in value to get the deal they want so less discount more trade in value etc.
 

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Discussion Starter · #11 ·
So, did the trade come in around what Carmax was offereing. Of course, the dealer can play with the sales price and trade in value to get the deal they want so less discount more trade in value etc.
Yes, the trade was all good for the same price as Carmax. Originally the dealer had offered $7K. Also the lease amount, monthly payments and residual value came out to what I wanted.
 

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Yes, the trade was all good for the same price as Carmax. Originally the dealer had offered $7K. Also the lease amount, monthly payments and residual value came out to what I wanted.
i hope you didn't use much of the $8000 as a down payment;
 
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