Selling car with loan balance

[Anonymous]

I bought a brand new jeep (first mistake), and after a year decided to sell it. I should've went with my instincts, and
Not bought American but DH really wanted that damn jeep! I've never done anything like that before as we buy used, and keep our cars for 10 years. But, those are our hondas/Volkswagens. Carmax gave me a really low offer even though I barely drove it, and it was in excellent condition. I ended up finding a dealership that had the vehicle I wanted, and they offered $2K less than what I owed. I could live with that just to get the jeep off of my hands. The bank I financed through paid off the balance of the jeep, and rolled the $2k remaining into my new loan. They had me look up the payoff amount, and directly sent a check to Chase. I received a letter in the mail from Chase (jeep financer) showing a $0 balance about ten days later.

[Anonymous]

Just out of curiousity what mileage, year and model is your car and what general area are you located in?

Part of the reason why I don't really deal with used cars anymore is that there are a lot of scammers and flippers out there now, both on the buying and selling side. Then the asking price of dealers are usually not worth it when you consider how much the cars would have cost new.

But knowing part of your situation and story, I might've been interested in your car if it was something that I was looking for.

Realistically I wouldn't be interested in it because just put money into my current car. So should keep it longer to make those costs worth it.

But not sure if there are other members on the forum who might be interested and are willing to work with you in regards of waiting until you plan to move and the title.

Generally if it was a car from someone I know that was planning to trade it in and I knew how the condition of the car and how they maintained it, I would probably offer a halfway point between trade in value and private party value. But since this is a board that you don't really know anyone, you could probably ask private party price and anyone interested on the board would have the peace of mind knowing that you aren't a flipper and are just selling because you're leaving the area.

Not sure if this type of suggestion is okay on this forum or not. (to solicitate buying or selling things)

With selling cars to Carmax, I know several people that did it. One person is generally money savvy and cheaper person who sold their luxury car to Carmax. They seemed pleased with the whole process and what they got. But I don't know if they figured any lower prices from Carmax to be price of the convenience of the process. Then someone else I know tried to sell their car, which was old and needed work but one of the desireable ones in the used car market. Carmax offered less than half than what they got for trade in from the dealer. There's no obligation to sell, so probably doesn't hurt to take your car in to see what they offer and see what their process is for in buying cars that still have a lien on it. I think they give higher offers for cars that they can actually put on their lot. And offer lower prices for cars that they will resell at auctions.