I sold my 2002 GMC Yukon XL 2500 with 260K miles with absolutely no problem. Carmax offers a simple easy process for selling just about any car. After 15 years my Yukon had it's share of cosmetic dings, dents, and tears but was in otherwise good mechanical condition. I got a better offer than I expected for a vehicle that is practically unsellable almost anywhere but an auto auction. A few things to remember that plenty of others have mentioned with respect to Carmax that I think are worth repeating:
1. When selling to Carmax, you must be realistic about the condition of your car and it's value in the market. Just because KBB says $5000 does not mean that anyone in Austin wants that car or is willing to pay $5000 for it even if they did want that car. Some people DO care about the little fender dent, or the worn out seat cushion, the windshield peck, or the oil leak even if "the car has never given the original owner a single bit of trouble for 200K miles". I loved the Yukon which is why I kept and maintained it so long. But I thought it highly unlikely that anyone else would love it as much as I did given it's age, mileage, and especially it's 8MPG city/12MPG highway efficiency.
2. As a seller you are in a wholesale situation with Carmax, not a retail situation. The price you will be offered will almost certainly be lower than what you might get selling it yourself to a private party, and possibly lower than some new car trade-in deals. Carmax will sell your car to someone else and will make a profit on that sale. This is a fair exchange for Carmax assuming all of the liability on any future sale. Any unknown defect that arises before your car can be sold or auctioned are at Carmax' risk, not yours. When you sell to Carmax, what's done is done and can't be undone. That was peace of mind to me and I am glad I sold the Yukon to Carmax.
3. Selling a car requires care, planning, and effort. And it involves a significant amount of risk. Search for comments about eBay and Craigslist from people selling and buying cars and you'll see what I mean. It's a nightmare scenario of layabouts and scammers on both ends of the transaction. Cars, cell phones, and laptops are the absolute worst things you can sell online.
I consider the offer I received a good value in exchange for completing the sale to Carmax in under an hour, after which I walked out with a check in hand to spend on something else more important than my old Yukon. I did not have to detail the truck, fix any of the broken bits, write an ad, or deal with the public before or after the sale ("Welcome to the jungle" is not just a catchy tune by Mr. Rose). There were more productive things I needed to use my time for and I was happily willing to leave some margin in the deal for Carmax.
I had a great experience selling my old car to Carmax and I hope your experience is as good as mine. read more