I know they have always offered me far more than other dealerships on the trade in but about $1500 less than I got private sale but these were also 12 year old cars they would not resell just send to auction.

I am looking to flip my Sienna for an Odyssey. So I am curious what their typical markup is as I see what they are selling similarly equipped Sienna's for.

I am willing to loose a little for the swap just looking to see if it worth my while to spend a couple hours cleaning this thing up to see what they'll give me for it. Or if their markup is huge and not worth wasting my time.

I’m not sure what the mark up is but I’ve always just let them buy my car and then buy another elsewhere. They’re prices were always way too high even with a good trade in offer.

quote:

Originally posted by sigspecops:
I’m not sure what the mark up is but I’ve always just let them buy my car and then buy another elsewhere. They’re prices were always way too high even with a good trade in offer.

Not the experience I have had with all the other dealers fees.
Plus if I buy elsewhere I would have to pay a ton more in taxes.

Also be very cautious with getting recalls checked on anything you're looking at. They're notorious for not taking care of open recalls. I agree that their prices aren't great either, at least near me. Good luck.

I think the prices on how reasonable they are or aren't vary greatly.
When buying my wife's Highlander they were sill expensive. When shopping for the Sienna they were right in line or a bit cheaper. It appears that way with the Odyssey as well.

Several years ago I learned that vehicle acquisition is a separate business process than vehicle sales. There was NO relationship between your vehicle purchase by Carmax and the sale to you. May still be the same.

quote:

Originally posted by 4MUL8R:
Several years ago I learned that vehicle acquisition is a separate business process than vehicle sales. There was NO relationship between your vehicle purchase by Carmax and the sale to you. May still be the same.

Yes, I know it has no basis on my purchase but their Siennas for sale that mirror mine they have listed from 25,998-28,998. So if I have a general idea of their markup I can figure out about what they'll offer.
I am curious what their markup is. Likely makes a difference on vehicle model I presume.
If it is around 2,000 in my situation I should break even.

I tried to trade in a 2001 Chevrolet Silverado long bed about 8 years ago and they offered me $3,000. I turned it down and listed it on autotrader and sold it for $6,000.
This was during a period of high gas prices for what its worth.

Just curious. If you sell to them and buy another vehicle at the same time do they treat it as a trade-in against the purchase price of the vehicle you're buying? If so, that can have a huge impact on sales tax, at least in Texas.

quote:

Originally posted by NavyGuy:
Just curious. If you sell to them and buy another vehicle at the same time do they treat it as a trade-in against the purchase price of the vehicle you're buying? If so, that can have a huge impact on sales tax, at least in Texas.

They do. That is why I would like to sell and buy with them as opposed to other dealerships that will give way less. Selling private party is not worth my time and hassle plus the extra I would have to pay in taxes.

I've only ever been offered around kbb trade in value for any car I got a bid from Carmax on with only one exception. We took my wife's BMW 3 series in and the "KBB Cash Offer" was $2400 over trade and we took it. No idea why but it was the best offer I got from anybody on that car.

Looks like on Sienna's their markup in this case is about 5k. So wonder if they try to be Around 20% markup.
Ohh well. Looks like the ratchet straps will stay we'll just have to suck it up squeezing through the middle to buckle the boys and I'll have to find a new head unit with the options we would like and does not suck like the factory unit.

Used to work for them. Worked at one of the two *new* Toyota dealerships owned by CarMax. They only do this to get access to auction houses. Carmax is one of the largest auction houses in the country. When the economy tanked the buyers kept the company afloat. The "buyers" are the folks who evaluate the cars. Those folks train for over a year to do that job. They are true car soothsayers. The price offered is based on research of auction selling prices for similar cars at major auction houses. Carmax will never re-sell a car that has had a salvage title, flood damage or frame damage. They plug in the price they estimate for a car and the computer automatically chops $1,000 of it. Cars that meet the strict requirements are reconditioned and put on the lot. The others go straight to the auction house and are sold off.

I'm not sure the mark up is based on a certain percentage. Generally, they make more on older cars. I bought a 2006 RSX for $10k and I'm pretty sure they probably gave the previous owner $4-$5k for it; maybe $6k since it only had 85k miles on it. So the resell price is based on an amount above the cost paid and then based on selling prices on similar vehicles sold at other Carmax stores.

I'm curious, what is it about your Sienna that you want an Odyssey to replace it?

quote:

I'm curious, what is it about your Sienna that you want an Odyssey to replace it?

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Clearly no one on Toyotas design team had three children in car seats or ever had an adult try to ride in the middle seat of the middle row.
The seating configurations available for 3 car seats you only have one option which is horrible unless you use ratchet straps along with seat belts, and 2 seats share a top anchor.
Then you are still stuck with a center seat in the middle row that can accommodate an adult for about 5 minutes.
Then add on top of that you want to remove the seat slider so it is not a tripping hazard when the seat is removed you have to drop the freaking gas tank.

Of course I bought it with only 2 kids so may fault for not fully researching the seating possibilities.