As I debated how to sell my car, I focused on a few considerations:
- What does Kelly Blue Book say my car is worth?
- How much effort do I want to put into selling the car?
- What if the buyer changes his mind and I have to deal with that headache?
Before taking the car to CARMAX, I went online to review the estimate KBB offered. They have a Private Party Value as well as a Trade In Value. I don't see why it is necessary to have two; the difference between them is comprised of the dealer's costs and profit for taking your car and selling it for you. If I sell to CARMAX, I don't have to deal with out of state buyers, ebay fees, multiple test drives, or preparing the car to sell.
Based on kbb.com, the Fair Condition value for Trade In is $2,382. The Fair Condition value in a Private Party transaction is $4,032. I was offered $3,000 by CARMAX. I accepted.