The CarMax appraisal process typically takes about half an hour. You can begin the CarMax appraisal process by booking an appointment online or visiting a CarMax location for a walk-in appraisal. Price Advisor: The Price Advisor is KBB’s price range for private buyers and sellers to consider when negotiating deals.This tool will estimate the trade-in value and private-party sale value (including price and the average amount of time it will take to sell). Personalized Blue Book Value: You can enter information about the vehicle - including the style, model year, options, color, and condition - for a personalized Kelley Blue Book value.This type of estimate will usually be higher than a CarMax valuation. These general estimates consider the make, model, year, and style of the vehicle, but not its condition. Fair Market Range: The Fair Market Range is KBB’s estimate for what people will pay this week for a particular car, based on statistical models.This offer will likely be closer to a CarMax offer than any of the other Kelley Blue Book estimates since it considers factors specific to the vehicle. You can request an Instant Cash Offer from a participating dealer on KBB.com. Instant Cash Offer: KBB partners with dealers to offer personalized quotes.Keep in mind, KBB offers several types of estimates, not all of which will be realistic for your vehicle depending on its condition and in-market desirability. Kelley Blue Book is best for research and price comparisons - it does not directly buy cars. Fewer customers reported CarMax offers being higher than KBB estimate, but it is possible - particularly if you own a car that is highly desirable to buyers in your area. According to customer reports online, several people claim that CarMax valued their vehicles about 15% less than KBB others said their CarMax offers closely matched the KBB estimate. Representatives told us that CarMax makes its offers on a case-by-case basis after careful inspection.ĭuring our research, we found that customers have reported mixed results. CarMax customer service representatives were unable to state whether the company’s appraisal prices are typically higher than, lower than, or comparable to Kelley Blue Book estimates. If it purchases your car with the intent of selling it on the lot, the cost of any necessary cosmetic fixes and/or repairs will decrease your CarMax offer.ĭuring the appraisal process, CarMax will conduct a thorough inspection of the vehicle and take it for a test drive. CarMax may sell your vehicle on one of its own lots or at wholesale or auction. Transaction history for similar vehiclesĬarMax also considers the cost of “renewal,” or the process of preparing a car for sale.Desirability in the current market and the seller’s geographic region.This is why your CarMax offer may be lower or higher than the KBB value.īoth companies consider the following factors in their offers/estimates: KBB EstimateĬarMax appraisals consider many of the same factors as Kelley Blue Book’s personalized estimates, but CarMax does not use KBB to determine the value of a vehicle. For more details of how CarMax appraisals compare to KBB estimates, see below. For a quote comparable to CarMax, it is best to request an Instant Cash Offer on KBB.com. CarMax also factors in the costs to prepare your vehicle for sale KBB does not directly buy vehicles, so it avoids these overhead costs. However, your CarMax offer may be lower or higher than the KBB estimate because CarMax uses its own data and inspection process. These criteria include the vehicle’s history, current condition, make, model, year, mileage, and desirability in the market. CarMax appraisals use the same general criteria as personalized Kelley Blue Book (KBB) estimates.
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