2012 Chevrolet Sonic: Quick and Easy Sale
January 22, 2013
The 2012 Chevrolet Sonic's tenure in our long-term fleet has come to an end. We took it to Carmax as part of our usual sale-evaluation procedure. The Sonic had a little less than 17,000 miles on it and according to Edmunds trade-in TMV, its value was about $12,955. But did Carmax offer us anything close to that?
Carmax made us an offer of $13,000. This was $45 above our trade-in TMV. We paid $18,018 for the car when we bought it new, which means that the Sonic depreciated about 28 percent in a year. That's a bit on the high side compared to the average of about 22 percent.
Now, with the Carmax offer in hand, we had to ask ourselves, "Should we sell it ourselves or sell it to Carmax?" Edmunds private-party TMV value was $14,393. We couldn't list it at $15,000 because it would get no replies: The Sonic would look too pricey and too close to the cost of a new car.
If we listed it at $14,500 we'd probably end up at $13,500 after some haggling. Maybe even less. We decided this was too small a margin to justify a private-party sale. And by selling it to Carmax, we save ourselves the hassle. We brought it back the following day. Time is money.
We bid farewell to the Sonic, a car that I hope is remembered more for its driving characteristics than its smelly interior.
Final Odometer: 16,977 miles.
Ronald Montoya, Consumer Advice Editor @ 16,977 miles