CarMax and KBB are the two major platforms through which you can sell your old vehicles including cars and motorcycles. CarMax, owned by Circuit City, markets and sells any type of used vehicle. Let’s learn about ‘CarMax Appraisal Vs KBB’.
CarMax Appraisal Vs KBB: Which One To Choose?
The company has been in operation since 1993 and currently has more than 200 stores across the country. Kelley’s Blue Book (KBB) is a subsidiary of Cox Enterprise. KBB is used as a vehicle evaluation platform by both customers and motor vehicle dealers alike. It can be used to research the different aspects of a used vehicle with respect to the changing market conditions.
Making a decision as to which platform to use to sell your old vehicle heavily depends on the conditions and offers they put forth.
CarMax provides both online and in-store options to check the deals for your used vehicles. The company appraises your vehicle based on its conditions and shows you a fair offer with a grace period of one week.
With KBB, you can research the resale value of your vehicle and connect with the dealerships partnered with the company when you find a reasonable deal. CarMax and KBB use almost similar criteria to estimate the value of your vehicle, including:
- Present condition
- Accident and maintenance history
- Market desirability
Since CarMax directly buys and sells your vehicle, they factor in some overhead charges to make your vehicle resale worthy. KBB does not demand these extra charges since they are not directly involved in the sale of your vehicle.
Online Method: CarMax Appraisal Vs KBB
CarMax
The official website of CarMax is a quick and effortless method of vehicle trading. All you have to do is visit their website and put in the details of your vehicle together with its identification number (VIN). You will then be shown an offer that you can redeem within the grace period by visiting the store nearest to you. The step-by-step process of the online appraisal method is as follows:
- Fill in the form and provide your email address to receive the offer code.
- Choose whether you want to redeem the offer soon or save it for later.
- If you do not choose the save later option, you will be directed to select the CarMax store next to you.
- Move on to the payment receipt option after providing details of loans or leases if any.
- Once the appointment is confirmed, take a print-out of the confirmation page.
You must carry the payment receipt and the printed-out confirmation page along with the vehicle’s documents, identifications, and other essential articles with you while visiting the store for the trade-in.
KBB
You can use KBB’s website to explore the value of your vehicle as well as to trade it. The major attracting factor of using KBB is its instant cash offer which gives you an instant offer as soon as you provide details of your vehicle. The procedures to get an offer for your vehicle and its grace period is similar to that of CarMax. However, you will be asked to bring in your vehicle to the dealer selected to get your vehicle verified against the information you provided online. Make sure you carry with you the Instant Cash certificate as well.
In-Store Method
CarMax allows you to skip the online process if you are more comfortable with visiting the store in person. KBB, on the other hand, does not have this option as it does not have its own dealerships.
Fees And Payment
Both CarMax and KBB do not demand any fee for their online services. When you sell your car at CarMax, you will receive the payment on the spot in the form of a bank draft which can only be deposited directly to your bank account. Contrary to that, the payment mode adopted by KBB is not fixed as it varies with the dealerships they partner with.
Conclusion
Now we have learnt ‘CarMax Appraisal Vs KBB’, CarMax and KBB are the go-to options for most people for a vehicle trade. While both the companies offer great deals for your vehicle, the rate offered by KBB varies with their partnered dealers. As a consequence, CarMax deals tend to be about 15% more than the offers given by KBB. Considering all these facts, it is best to get an appraisal of your vehicle from both CarMax and KBB and make an informed decision based on the deals.
FAQs
1. Does CarMax and KBB offer pick-up?
If you choose CarMax, you will have to bring in your vehicle to the store by yourself to seal the deal. On the other hand, KBB offers to pick up from certain locations.
2. Is KBB’s valuation tool free?
Yes. Using KBB’s free valuation tool, you can get an estimate of your car’s reselling price.
3. What are some of the best alternatives to CarMax and KBB?
Although CarMax and KBB are the major car-reselling companies, some other good alternatives are Wheelzy, eBay Motors, and Peddle.
