Lowball offer from Carmax on loaded 2016 Elantra GT

bcd2bcd2 Member Posts: 12
edited December 2018 in Hyundai
I just got an offer from Carmax for my 2016 Elantra GT, which is at the end of a three-year lease, and it was much lower than I expected. Wondering if anyone has a similar experience. I know they do algorithmic pricing based on inventory and market demand. Is this simply an undesirable vehicle?

Details: 2016 Elantra GT. 33,000 miles. residual is $14,230. Carmax offered $12,000. Car is loaded with Style Package and Tech Package. Includes: Navigation, leather seats, heated and ventilated/cooled seats, panoramic roof, bluetooth, smart keys, rear-view cameras, 17" alloy wheels, etc. Brand new tires. No accidents. Barely has a scratch on it. They found no mechanical or condition faults with the vehicle.

Looks to me like they would resell the car for at least $16,000 based on their sale listings. Any thoughts? Thanks

Comments

  • kyfdxkyfdx Moderator Posts: 197,457
    bcd2 said:

    I just got an offer from Carmax for my 2016 Elantra GT, which is at the end of a three-year lease, and it was much lower than I expected. Wondering if anyone has a similar experience. I know they do algorithmic pricing based on inventory and market demand. Is this simply an undesirable vehicle?

    Details: 2016 Elantra GT. 33,000 miles. residual is $14,230. Carmax offered $12,000. Car is loaded with Style Package and Tech Package. Includes: Navigation, leather seats, heated and ventilated/cooled seats, panoramic roof, bluetooth, smart keys, rear-view cameras, 17" alloy wheels, etc. Brand new tires. No accidents. Barely has a scratch on it. They found no mechanical or condition faults with the vehicle.

    Looks to me like they would resell the car for at least $16,000 based on their sale listings. Any thoughts? Thanks

    Try re-posting here:
    https://forums.edmunds.com/discussion/1212/general/x/real-world-trade-in-values

    But, if they are selling them for $16K, then I’m not surprised at a $4K spread.

    Edmunds Price Checker
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