SOLD MY FRS TO CARMAX TODAY :(
 

As the title says, I sold my 2013 Firestorm automatic FRS (17,000 miles) to carmax because I could no longer afford it. I just wanted to make this thread to inform anyone out there who is considering selling their FRS to carmax.

Now I did try to sell it private party but after 4 tire kickers who promised me they would buy it and never called back, 2 low credit scammers and plenty of broke teenagers knocking on my door begging for test drives I HAD ENOUGH and made the trip to my local carmax.

Initially I was offered $16,300. I felt bummed because the car had no scratches or dings and the interior was flawless plus only 17k miles. I spoke to the general manager about the low offer, they refused to budge until i mentioned the car had a 100k mile warranty. The upped my offer to $16,700 and thoroughly explained why they could not go any higher. According to him, the FRS is no longer in high demand and they have had a wave of these cars sold to carmax all over the country in the last 2 months and they cannot sell them as fast as they anticipated, therefore it's driving the value down.

I owed $18,235 on the car, so I had to pay $1,535 out of pocket to complete the transaction. Sad to see it go but the insurance and payment were too much for me at this point. I do feel slightly relieved because I'm completely debt free and there won't be a car payment rolling around next month but I also feel terrible for taking such a huge loss on this car.

I did not install any aftermarket parts or accessories in case anyone is wondering.

Sorry to hear that, hope I never end up in this situation :\

I hope none of you end up like this. I really enjoyed the car while it lasted but sometimes responsibility calls. I sold it about 3 hours ago and I seriously can't stop thinking about this loss (financial and car).

I would have waited another month or so and see if you could at least get $17.5 private party. That's so low.

What are your plans for transportation now? A bicycle?

I find it hard to believe they couldn't at least pay it off.

Btw, I know its late now and I don't want to add salt to the wound, but often times dealerships will purchase vehicles outright as well, not just CarMax. Perhaps a local or nearby Toyota / Scion dealer could have bought it for more? Maybe. Water under the bridge.

Sad to see you go.

P.S: You say you couldn't afford it but you had at least 5-6 monthly payments worth in money laying around to pay your negative equity off?

that's crazy I sold my 2013 FRS Manual to the dealer with 40,000 miles on it for $17,000 they got a deal

No, I'll be sharing my wife's car. Both our jobs are fairly close so it's not like we'll be hurting much.

I did consider paying the negative equity but the insurance payments were high enough (rather not mention the price) for me to take said loss.

How long ago?

I heard plenty of stories about people getting good deals when selling to carmax but I guess i missed the chance to sell it while demand was high.

You could have sold it for more on Ebay. You got ripped off.

I just threw up in my mouth at that offer. I'm so underwater if that's really the trade in value right now wtf. I have a couple 1000 miles less but besides that very similar specs :( good thing I don't ever intend to sell but damn that's just unfair

Those ebay fees were enough to scare me and I don't have the patience to put up with all the hassle of setting up shipping. Like i said, I know i did take a major loss but I was extremely frustrated after all those failed attempts to sell the car.

Was your insurance really that high?

Hope all turns out for you and you can get back in it soon. Also, why not just sell the wifes car and keep the FR-S?

How old are you?

What income?

Why high insurance? What insurance cost?

What loan terms? Down payment? Purchase price?

Maybe the worst decision was buying the car in the first place?