2011 Chevrolet Volt Long Term Road Test

2011 Chevrolet Volt: Carmax Appraisal, Take Two

February 03, 2012

Volt-r34.jpg The last time we took our 2011 Chevrolet Volt for an appraisal at Carmax, the used-car superstore offered us $32,000. It was a solid price, but at the time we just wanted to get an idea of what the car was worth. That was about two months ago and we've put 2,000 more miles on it since. Now we are going to move forward with selling the car and this quote will serve as a reference point for our listing price.

This is the first time that we’ve taken a car for a second appraisal at Carmax and we weren't sure what to expect. Would it drop in price? Would it keep its value? Would the price go up?

"I'm going to have to do some research on this one," the Carmax appraiser said. "This is only the second Volt I've done."

"That other one was ours," I responded. "We brought it a couple of months ago."

My guess was $31,000 and I was right on the money -- for about five minutes. The $31K was the price on screen when the Carmax representative showed me the offer. But when he brought back the printout, he said the appraiser had made a mistake, and that the actual offer was $32,000.

The Volt held its value despite the added miles and recent negative publicity. But I wonder if this had more to do with the lack of a sample size of comparable vehicles than the retained value.

We're going to see if we can improve on the $32K and we have seven days to do so.

What would you do? Take the $32K or sell it on your own?

Ron Montoya, Consumer Advice Associate @ 14,860 Miles

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Edmunds Insurance Estimator

The Edmunds TCO® estimated monthly insurance payment for a 2011 Chevrolet Volt in VA is:

$121 per month*
* Explanation