GX 550 Low resale vale

[gvan1998]

Ive purchased my GX550 Overtrail around May. Ive paid over MSRP and the MSRP was $74k. I wanted to see what my GX was worth since they are hard to find. I went to Carmax yesterday and they offered $65k with 2k miles. I was very disappointed, i thought it was going to be close to 70k.

I guess I'll be keeping this car for a while, or I'll be losing a lot of money.

 

[ilumo]

Ive purchased my GX550 Overtrail around May. Ive paid over MSRP and the MSRP was $74k. I wanted to see what my GX was worth since they are hard to find. I went to Carmax yesterday and they offered $65k with 2k miles. I was very disappointed, i thought it was going to be close to 70k.

I guess I'll be keeping this car for a while, or I'll be losing a lot of money.

That’s not bad considering it’s Carmax. You would do better with private sale. Remember though. These cars are depreciating assets. You’re lucky it only dropped a few k. Try doing this with a Mercedes gle, bmw x5, etc.

 

[Michael T]

Ive purchased my GX550 Overtrail around May. Ive paid over MSRP and the MSRP was $74k. I wanted to see what my GX was worth since they are hard to find. I went to Carmax yesterday and they offered $65k with 2k miles. I was very disappointed, i thought it was going to be close to 70k.

I guess I'll be keeping this car for a while, or I'll be losing a lot of money.

Go on cargurus, autotrader, or any other sight to buy a used GX550. They’re all asking either msrp or in many cases well over msrp.

The reason you’re getting offered that is because carmax has to make money on the resale. They’re giving you $65k to then go resale for $74k.

Like Ilumo said, if you sell it privately, you’d likely walk with a lot more money

Also, why did you pay over msrp. You should have told that dealer to kick rocks, and you’ll go elsewhere

 

[gvan1998]

That’s not bad considering it’s Carmax. You would do better with private sale. Remember though. These cars are depreciating assets. You’re lucky it only dropped a few k. Try doing this with a Mercedes gle, bmw x5, etc.

not few k, 10k lol

 

[leopard print]

If you really want to sell it, why don’t you post it here in the marketplace for a reasonable price close to msrp? Maybe someone who doesn’t want to wait will want to deal. Worst case scenario is that you don’t sell it here.

 

[jclaffee]

not few k, 10k lol

It's carmax. What did you expect?

 

[Cajun Heat]

Ive purchased my GX550 Overtrail around May. Ive paid over MSRP and the MSRP was $74k. I wanted to see what my GX was worth since they are hard to find. I went to Carmax yesterday and they offered $65k with 2k miles. I was very disappointed, i thought it was going to be close to 70k.

I guess I'll be keeping this car for a while, or I'll be losing a lot of money.

You will never get a great price at Carmax.

 

[Bluegill]

Carmax is the Walmart of used car sales. I'm surprised they offered you a number that started with a 6.

 

[Martyt]

Carmax offered me $12.4K for my 2014 4Runner (164K miles). I sold it for $18.5 on Craigslist in 2 days

 

[AKAKTM]

Ive purchased my GX550 Overtrail around May. Ive paid over MSRP and the MSRP was $74k. I wanted to see what my GX was worth since they are hard to find. I went to Carmax yesterday and they offered $65k with 2k miles. I was very disappointed, i thought it was going to be close to 70k.

I guess I'll be keeping this car for a while, or I'll be losing a lot of money.

I am in the market for a GX. Can you tell me the color and build?

 

[gvan1998]

I am in the market for a GX. Can you tell me the color and build?

pm ME ILL SEND YOU THE BUILS SPEC

its white with black interior and sunroof delete

 

[S SUBERI]

Carmax will sell it for over 80K. There are a lot of buyers out there just be patient and you will get a much better pricel

 

[Dangler]

I am selling my OT+ back to the Toyota dealer today. I paid MSRP and I'm selling it back for MSRP against a different car at MSRP. I drove it 6500 miles

I think that is more than fair

 

[YellowLab]

I am selling my OT+ back to the Toyota dealer today. I paid MSRP and I'm selling it back for MSRP against a different car at MSRP. I drove it 6500 miles

I think that is more than fair

Why did you decide to sell it back?

 

[Dangler]

1. I don’t like the color combination of my GX (earth)
2. I don’t like the design of the hood and fender area-too bulky imo

 

[ilumo]

I am selling my OT+ back to the Toyota dealer today. I paid MSRP and I'm selling it back for MSRP against a different car at MSRP. I drove it 6500 miles

I think that is more than fair

This is actually pretty amazing you were able to do that. What vehicle are you looking to switch into?

 

[YellowLab]

1. I don’t like the color combination of my GX (earth)
2. I don’t like the design of the hood and fender area-too bulky imo

What was the interior color?

 

[TexasCrawler]

Two pieces of advice I listen to:
1. Never pay over MSRP for anything.
2. Never purchase anything mass produced for investment purposes.

 

[DukieGuy]

Any new car depreciates a substantial amount the second it's sold and driven off of the dealers lot.

Use something more appropriate like blue book, blackbook, or comparable private sales to make a true assessment of what it's worth.

Due to the long wait times, I bet you could find someone to pay what you paid for it (assuming you didn't pay an absurd amount over MSRP). Selling for MSRP will have it sold very quickly.

But I have to ask.... Why buy something this expensive, for over MSRP, and then worry about first few months depreciation, if you weren't certain about it?

 

[ilumo]

Two pieces of advice I listened to:
1. Never pay over MSRP for anything.
2. Never purchase anything mass produced for investment purposes.

Agreed. By paying for over msrp you are enabling these stealerships to continue to do what they are doing. Stop the greed.