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Completely agree with user cstejerean here. You didn't say anything about your car, but I will hazard a guess that it was over 10 years old, but still a somewha
by csours 8y ago
Completely agree with user cstejerean here. You didn't say anything about your car, but I will hazard a guess that it was over 10 years old, but still a somewhat rare or desirable vehicle. Carmax doesn't want vehicles over 10 years old.
Also, to other commentors here, consider tax implications when you compare sale price on a trade-in. If you wind up paying taxes on the sale of your vehicle, that may offset the increase in price on a private sale.
- jjnoakes 8y agoDon't buyers pay the sales tax?
- csours 8y agoIt appears that I had an incorrect assumption: https://www.dmv.org/articles/income-tax-implications-of-selling-a-used-car/ https://www.dmv.org/articles/income-tax-implications-of-sell... Note that this is not an official DMV site for any government organization
- hellogoodbyeeee 8y agoWhen you buy a used car, you pay sales tax on the purchase price less the value of your trade in. So effectively, you need a private sale offer of at least the sales tax rate higher than the trade in offer to break even. Sales tax wouldn't come in to play if you just sold your car to Car Max though.