2014 Chevrolet Silverado: CarMax Offer
August 21, 2014
A year can fly by when you're having fun. Our long-term 2014 Chevrolet Silverado has been with us for 13 months and we've driven it nearly 25,000 miles. It has taken some of us to race days, towed EVs to our test track, and even helped me transport a new gas grill to my home. But it's time for this city slicker to ride off into the sunset. And the first order of business is a trip to CarMax.
Full-size trucks like our Silverado are hot sellers and only sit on the lot for a few days, said the CarMax sales representative, "maybe a week at most." He added that the Chevy trucks seem to sell more than Fords. This was just anecdotal evidence, but if true, it was interesting, since the opposite happens when the trucks are new.
The appraiser noted a scratch on the rear left quarter panel of our truck. He said it wasn't a big deal and that their body shop could easily and cheaply take care of it. Our Silverado's bed has its fair share of scratches too, but we didn't get dinged for them. It comes with the territory when dealing with a truck, I suppose. I was the first customer that morning and the appraisal was completed in about 10 minutes.
CarMax offered us $30,000. For reference, Edmunds' average trade in value for this truck is about $30,468, so CarMax made us a solid offer. I was being conservative and had predicted (in our unofficial office handicapping) that the offer would be about $28,000 — glad I was wrong. We paid $39,342 for the Silverado when we bought it last year. If we take the offer, the depreciation will be just under 24 percent.
There's not much room for improvement when you look at the private party value. Edmunds puts it at $32,624.
We have seven days to think it over before making a decision.
What would you do? Take the CarMax offer? Or sell the truck on your own?
Ronald Montoya, Consumer Advice @ 24,825 miles