Welcoming Carmigo’s Memphis Dealer Sales Representative, Jennifer Little

Welcoming Carmigo’s Memphis Dealer Sales Representative, Jennifer Little

She brings more than fourteen years of automotive experience to the team.

We’re thrilled to welcome the newest member of the Carmigo team – Jennifer Little. She has joined as a Dealer Sales Representative for our Memphis, TN market as we continue to expand our dealer network across the South. She brings more than fourteen years of automotive experience to the team.

 

Little joins us from ADESA where she worked as a sales manager. She has an extensive background in the auction world, having worked more than 14 years in outside sales, arbitrations and management. 

 

This newest expansion of our team directly aligns with the launch of Carmigo Turn – our new wholesale platform designed to help dealers increase their used inventory turn. If you’re in one of our markets and want to see how Carmigo can make it easier to manage your lot, give us a shout. We’d love to help.



Carmigo announces promotion of Austin Hille to Director of Marketing

Carmigo announces promotion of Austin Hille to Director of Marketing

Hille has served in the company’s leadership for more than two years, and is now taking on a new role and responsibilities

Carmigo has announced the promotion of Austin Hille to Director of Marketing. Hille left his role as Manager, Marketing Strategy at C Spire to join Carmigo in November 2021. He was the company’s first full-time marketing hire. Since then, Hille has taken on a wide range of responsibilities within the company.

“We originally brought Austin onboard to build out our consumer marketing strategy, but as Carmigo has taken on more of a dealer-to-dealer focus, we needed him to step outside of his original role,” said Andrew Warmath, CEO and Co-Founder of Carmigo.

“While marketing is still his primary responsibility, we’ve all been impressed with his ability to serve the company’s goals wherever we need him.”

Hille has managed projects within product, sales, and operations. Most recently he oversaw the launch of the company’s new wholesale platform – Carmigo Turn.

He’ll now work alongside other departments to ensure the company’s growing salesforce has the support it needs to scale their dealer network, and will continue to build out a dealer-focused marketing strategy.

“2024 will be a massive year of growth for us,” said Hille. “I am happy to help in any way I can to help us realize our goals this year. It’s been a privilege to work with the team at Carmigo thus far, and I am excited about what the future holds for us.”

Carmigo launched Turn alongside a suite of improvements for its users on February 1. In the first quarter of 2024, the company has more than tripled its salesforce and is anticipating unprecedented growth throughout the year. Visit carmigo.io to learn more.

About Carmigo

Carmigo is an online marketplace and wholesale platform for dealerships. They provide tools to help dealerships increase used inventory turn and source consumer cars for their dealership. The startup works with dealerships across the nation, but is based in Tupelo, MS, and is rapidly expanding its team.

Carmigo elevates Chris Michael to Vice President of Operations

Carmigo elevates Chris Michael to Vice President of Operations

Michael is a nearly three-year veteran of the company, and now serves as a Vice President alongside new responsibilities

Carmigo has announced the promotion of Chris Michael to Vice President of Operations.

Michael started at Carmigo in April of 2021, just three months after the company’s founding. He has remained a foundational member of the Carmigo team, and has lead its operations department across multiple company wide initiatives.

Carmigo started as a solely consumer-focused platform with in-market inspectors across the Southeast. Michael oversaw the inspection and post-sale teams when they were in-market, managed the transition of those teams to headquarters based roles, and is now in charge of managing in-market operations for Carmigo’s growing dealer-to-dealer network.

“It’s hard to imagine Carmigo without Chris,” said Andrew Warmath, CEO and Co-Founder of Carmigo. “I asked him to join the company when there was no promise of a future. Since then, we’ve thrown a lot of changes at him, and he’s handled each one with precision and candor.”

Michael’s newest set of responsibilities come following the launch of its wholesale platform – Carmigo Turn. Carmigo has more than tripled its salesforce in the first quarter of 2024, and alongside this growth comes a need for operational support in markets across the south.

“We’re seeing a growing need for inspector and post-sale efficiency as our network grows and our sales increase,” said Michael. “It’s all about perspective. Our dealers demand a level of service and support on par with our national competitors, and we must meet those needs in order to stay competitive.”

Michael will be focusing on rapidly growing the Carmigo Inspection Team as they eye expansion across the southeast throughout 2024.

Carmigo launched Turn alongside a suite of improvements for its users on February 1.

Visit carmigo.io/turn/ to learn more.

About Carmigo

Carmigo is an online marketplace and wholesale platform for dealerships. They provide tools to help dealerships increase used inventory turn and source consumer cars for their dealership. The startup works with dealerships across the nation, but is based in Tupelo, MS, and is rapidly expanding its team.

Carmigo welcomes new Vice President of Sales, John Tharp

Carmigo welcomes new Vice President of Sales, John Tharp

Tharp comes to Carmigo with more than 35 years of experience in the automotive industry

Carmigo has announced the appointment of its new Vice President of Sales – John Tharp.

Tharp most notably served as the National Program Manager for Insurance Auto Auctions, where he oversaw a team of more than 80 direct reports. He was responsible for maintaining relationships with hundreds of dealerships nationwide, and working with them to meet their inventory acquisition needs.

Tharp left his role as General Sales Manager for America’s Auto Auction – Baton Rouge to join Carmigo, and has also served as a general sales manager and used car director at the dealership level.

“Carmigo is in a prime position to help dealerships’ evolving inventory management needs,” said Tharp. “Carmigo’s wholesale platform brings a lot to the table, especially as the market is challenging used car managers like never before. After I got to know the team, I knew I could play a role in serving and growing their dealership network.”

Tharp has joined Carmigo immediately following the launch of its wholesale platform – Carmigo Turn. He will be working alongside the company’s product and marketing teams to bring the platform to new dealerships across the southeast, and use their feedback to shape its future offerings.

“John has joined our team at the perfect time,” said Andrew Warmath, CEO and Co-Founder of Carmigo. “We’ve already seen how Turn can help dealerships protect their profits and navigate a never-before-seen used car market. John is going to help us bring that to more dealers and serve the buying and selling needs of those in our network.”

John will also be focusing on rapidly growing the Carmigo Sales Team as they eye expansion across the southeast throughout 2024. Carmigo has already tripled its salesforce in the first two months of the year, and they anticipate even more growth in the months that remain.

Carmigo launched Turn alongside a suite of improvements for its users on February 1. Visit carmigo.io/turn/ to learn more.

Meet Brandon and Mike, Carmigo’s Newest Dealer Sales Representatives

Meet Brandon and Mike, Carmigo’s Newest Dealer Sales Representatives

They bring more than 30 years of automotive experience to Carmigo

We’re thrilled to welcome the two newest members of the Carmigo team – Brandon Crouch and Mike Benke. They have joined as Dealer Sales Representatives as we continue to expand our dealer network. Combined, they bring more than 30 years of automotive experience to Carmigo.

 

Crouch joins us from Collierville Chrysler Dodge Jeep Ram where he worked as the General Sales Manager. He has an extensive background in the dealership world with previous posts at Gossett Motor Cars and Ford ProfitBuilder. Brandon is now bringing his more than 10 years of automotive experience to our Memphis market.

 

Benke served as the Territory Manager at ACV Auctions where he was responsible for the buying and selling relationships of dealers throughout Southwest Virginia. He brings a wide range of experience from both the dealership and auction world, working roles at Capitol City Auto Auctions and Advantage Ford. Benke is now responsible for launching our Roanoke market.

 

This newest expansion of our team directly aligns with the launch of Carmigo Turn – our new wholesale platform designed to help dealers increase their used inventory turn. If you’re in one of their markets and want to see how Carmigo can make it easier to manage your lot, give us a shout. We’d love to help.

Meet Angelia and Shannon, Carmigo’s Newest Dealer Sales Representatives

Meet Angelia and Shannon, Carmigo’s Newest Dealer Sales Representatives

They bring more than 30 years of automotive experience to Carmigo

We’re thrilled to welcome the two newest members of the Carmigo team – Angelia Madderra and Shannon Short. They have joined as Dealer Sales Representatives as we continue to expand our dealer network across the Southeast. Combined, they bring more than 30 years of automotive experience to Carmigo.

 

Madderra joins us from America’s Auto Auction in Birmingham where she worked as a Digital Sales Representative. She has an extensive background in the auction world with previous posts at ACV Auctions and Auto Auction of Montgomery. Madderra is now bringing her more than 13 years of automotive experience to our Montgomery/Columbus market.

 

Short previously served as a Market Expansion Manager at EBlock where she was responsible for the go-to-market strategies for nine states. She brings a breadth of experience from both the dealership and auction world, working roles at KAR Global and Dealers Auto Auction. Short is now responsible for launching our Mobile/Pensacola market.

 

This newest expansion of our team directly aligns with the launch of Carmigo Turn – our new wholesale platform designed to help dealers increase their used inventory turn. If you’re in one of their markets and want to see how Carmigo can make it easier to manage your lot, give us a shout. We’d love to help.



Meet Stacy, Carmigo’s Alabama Dealer Sales Representative

Meet Stacy, Carmigo’s Alabama Dealer Sales Representative

She has 15 years of experience in the auction and automotive industry

We’re thrilled to welcome Stacy Williams to the Carmigo team in her role as our Alabama Dealer Sales Representative. Not only does she possess a wealth of knowledge in the auction world, but she also holds a well-rounded accounting background rooted in the automotive sector.

 

Stacy began her career in accounting at Wilson Dodge and Gray Daniels Auto Family in the Jackson, MS market. In addition to standard accounting practices, Stacy’s responsibilities included managing wholesale and retail accounts, auditing, cash control, and inventory management

 

Most recently, Stacy worked as a Field Sales Representative for IAA in Birmingham. She was responsible for building out a buyer network for auctions, negotiating sales, and managing relationships with customers and providers.

 

Stacy’s extensive automotive background, combined with her knack for forging connections, makes her a perfect fit for Carmigo’s customer-centric approach. As we expand further into the Alabama market, we are excited to see Stacy’s skills in action, furthering our mission of making managing your inventory easy.

 

Stacy’s primary focus is connecting with dealers in our Alabama market. If you’re in Alabama and want to see how Carmigo can make it easier to manage your lot, give Stacy a shout.

Meet Toni, Carmigo’s newest Dealer Sales Representative

Meet Toni, Carmigo’s newest Dealer Sales Representative

With an exceptional track record and a deep understanding of the industry, Toni brings a wealth of experience to Carmigo.

We’re excited to welcome Toni Paige to the Carmigo team as our newest Dealer Sales Representative.

Toni is no stranger to the world of auto auctions. She entered the industry as an Auction Coordinator for IAA. There, she was in charge of setting up new provider contracts, registering new buyers, and a myriad of other responsibilities that helped build their pipeline of inventory in her six-year tenure. Toni then joined Louisiana’s 1st Choice Auction as their Professional Sales Representative, which has historically transacted over 15,000 vehicles annually.

Toni’s keen ability to empathize with dealers’ needs makes her a perfect fit for Carmigo’s customer-centric approach. As we embark on exciting ventures, we are thrilled to harness Toni’s skills to help our mission of making managing inventory easier.

Toni’s first focus is helping dealers in our Jackson, MS market. If you’re in Jackson and want to see how Carmigo can make it easier to manage your lot, give us a shout.

Can I sell my car with a loan? A comprehensive guide

Can I sell my car with a loan? A comprehensive guide

Table of Contents

Selling a car with an outstanding loan can be a challenging task, but it’s not an impossible feat. With careful planning, thorough research, and effective communication, you can successfully navigate the process and find a buyer who is willing to take over the loan. In this blog post, we will provide you with a comprehensive guide on how to sell your car with a loan, covering important steps to maximize your chances of a successful sale.

person researching how much to sell car for online

Understand Your Loan Situation

Before you dive into the process of selling your car, it’s crucial to have a clear understanding of your loan details. Gather all the necessary information, such as the outstanding balance, interest rate, and any prepayment penalties. Contact your lender to inquire about their policies regarding car transfers and loan assumptions. By knowing the specifics, you can accurately determine the amount you need to sell the car for to pay off the loan.

Start by determining the exact amount you owe on your car loan. Contact your lender to obtain the most up-to-date information on the outstanding balance. This figure will serve as the basis for calculating the minimum amount you need to sell the car for in order to pay off the loan completely.

Familiarize yourself with the interest rate associated with your loan. This information will give you insights into the cost of borrowing and can influence your decision-making process. If the interest rate is high, potential buyers may be less inclined to assume the loan, so you might need to adjust your selling strategy accordingly.

Inquire about any prepayment penalties that may be associated with your loan. Some lenders impose fees if the loan is paid off before a certain period of time. Understanding these penalties will help you factor them into your financial calculations and determine the final amount you need to receive from the sale to cover all costs.

Each lender has its own policies regarding car transfers and loan assumptions. Reach out to your lender to understand their specific requirements and procedures. Ask about their process for transferring the loan to a new owner and any necessary paperwork or documentation involved. Being well-informed about their policies will ensure that you can comply with their requirements and facilitate a smooth transition for the buyer.

Some lenders offer the option for a buyer to assume the loan entirely. This means that the buyer takes over the loan payments and becomes responsible for the remaining balance. In such cases, make sure to clarify with your lender if the buyer will need to meet specific criteria or go through a credit evaluation process. Understanding the loan assumption option will help you market your car effectively to buyers who are interested in this arrangement.

person counting money

Set the Right Asking Price

Pricing your car appropriately is key to attracting potential buyers. Take into consideration factors such as the vehicle’s age, mileage, condition, and market demand. Research similar cars in your area and check their prices to set a competitive asking price. Keep in mind that buyers will be assuming your loan, so it’s important to price your car competitively to make it an attractive option.

Start by researching the current market value of your car. Look for similar makes, models, years, and conditions in your local area. Online platforms, car valuation websites, and classified ads can provide valuable insights into the prevailing prices. Consider factors such as mileage, overall condition, and any additional features or upgrades your car may have.

Take into account the outstanding balance of your loan when setting the asking price. The aim is to find a price that is competitive in the market while ensuring that it is enough to pay off the loan in full. Calculate the difference between the estimated market value of your car and the outstanding loan balance. This will give you a clear understanding of the minimum price you need to sell the car for to settle the loan.

While you want to maximize the selling price, it’s important to be realistic and flexible. Consider the market demand and the condition of your car. If your car has high mileage or requires significant repairs, it may be necessary to adjust the asking price accordingly. Being flexible and open to negotiation can attract potential buyers and increase the likelihood of a successful sale.

When marketing your car, emphasize the benefits of taking over the loan. Many buyers prefer financing options, and assuming an existing loan can be an attractive proposition. Highlight the lower interest rate or the convenience of avoiding the hassle of applying for a new loan. By showcasing these advantages, you can make your car more appealing to potential buyers.

If you have a tight timeline to sell the car, you may need to adjust the asking price accordingly. Offering a competitive price can help attract more potential buyers and expedite the sale process. However, ensure that you don’t set the price too low, as you still need to cover the loan balance. Strike a balance between a competitive price and your financial requirements

If you’re uncertain about setting the right asking price, consider getting a professional appraisal. An experienced appraiser can evaluate your car’s condition, mileage, and overall market value to provide an accurate estimate. While this may involve an additional cost, it can give you confidence in setting a fair and reasonable asking price.

Remember, pricing is a delicate balance between attracting potential buyers and ensuring that you can pay off your loan. Thorough research, considering the loan balance, being flexible, and highlighting loan benefits are key strategies for setting the right asking price. By striking the right balance, you can increase your chances of finding a qualified buyer who is willing to assume the loan and purchase your car.

nice image of 2021 hyundai santa fe

Market Your Car Effectively

Effectively marketing your car is crucial to attract potential buyers and increase your chances of a successful sale when selling a car with a loan. Utilizing various channels and strategies can help you reach a wider audience and generate interest in your vehicle. Here are some key points to consider when marketing your car:

Utilize online platforms to maximize your reach. Post detailed and engaging advertisements on popular classified websites, car selling websites, and social media platforms. Provide comprehensive information about your car, including its make, model, year, mileage, condition, and any notable features or recent maintenance. Use high-quality photos from different angles to showcase your car’s exterior and interior.

Craft a compelling and accurate description of your car. Highlight its key selling points, such as fuel efficiency, safety features, spacious interior, or any recent upgrades. Be honest about any flaws or repairs needed to manage buyers’ expectations. Use persuasive language to capture potential buyers’ attention and generate interest in your vehicle.

Consider targeting specific audiences or communities that may be interested in your car. Join online forums, social media groups, or local car enthusiast communities and share your listing there. These platforms provide an opportunity to reach individuals with a genuine interest in purchasing a car, increasing your chances of finding a qualified buyer.

Spread the word about your car sale among your personal and professional networks. Inform friends, family, colleagues, and acquaintances that you are selling your car. They might know someone who is actively looking for a vehicle or be interested themselves. Personal recommendations can carry significant weight and help you find potential buyers more quickly.

Highlight the loan assumption option as a selling point for your car. Many buyers prefer the convenience of taking over an existing loan rather than going through the process of applying for a new one. Emphasize the potential savings on interest or the streamlined process associated with assuming the loan. This can make your car more appealing to buyers who are looking for financing options.

Be proactive in responding to inquiries and communicating with potential buyers. Promptly answer their questions, provide additional information if needed, and arrange viewings or test drives promptly. Being responsive and professional will create a positive impression and increase buyers’ confidence in dealing with you.

Gather all relevant documentation, including service records, maintenance receipts, and the vehicle’s history report. This documentation provides transparency and reassurance to potential buyers regarding the car’s condition and maintenance history. Make these documents readily available for interested buyers to review.

Consider implementing a strategic pricing strategy. If you’re finding it challenging to attract buyers, you may need to adjust your asking price accordingly. Monitor the market and adjust the price if necessary to stay competitive and generate more interest.

person filling out car loan paperwork

Be Transparent About the Loan

Transparency is crucial when selling a car with a loan. Provide accurate details about the loan to potential buyers. Clearly communicate the remaining loan balance, monthly payment amount, and any relevant information about the lender’s policies for loan assumptions or transfers. Being upfront will help build trust with potential buyers and prevent misunderstandings later in the process.

Clearly communicate the exact remaining balance on the loan to potential buyers. This information allows them to understand the financial commitment they would be taking on if they assume the loan. Provide documentation or statements from your lender that validate the outstanding balance and show transparency in your communication.

Disclose the current monthly payment amount associated with the loan. This helps potential buyers evaluate their affordability and budget accordingly. Be prepared to share any additional details about the payment structure, such as the number of remaining payments or the interest rate. This information allows buyers to assess the financial impact of assuming the loan.

Inform potential buyers about the lender’s policies regarding loan assumptions or transfers. Some lenders may have specific requirements or procedures that need to be followed for a smooth transition of the loan. Understanding these policies in advance helps buyers determine if they meet the lender’s criteria and can assume the loan without complications.

If there are any prepayment penalties associated with the loan, be transparent about them. Inform potential buyers about the consequences and costs involved if they decide to pay off the loan earlier than its designated term. This transparency ensures that buyers are aware of all financial obligations associated with the loan.

Explain the process of assuming the loan to potential buyers. Provide them with an overview of the steps involved, any paperwork required, and the timeline for completing the transfer. By outlining the process, buyers can assess the feasibility and complexity of assuming the loan and make an informed decision.

Provide copies of relevant loan documents, such as the loan agreement, to potential buyers for their review. This allows them to verify the loan terms and conditions independently and seek legal advice if necessary. Transparency in sharing these documents builds trust and demonstrates your commitment to an open and honest transaction.

By being transparent about the loan, you create an environment of trust and transparency with potential buyers. Clearly communicate the remaining loan balance, monthly payment amount, lender’s policies, prepayment penalties, loan assumption process, and provide necessary documentation. Buyers will appreciate your openness, and it will help ensure a smooth transition of the loan, leading to a successful sale of your car.

woman screening potential customers interested in car with loan

Screen Potential Buyers

Once you start receiving inquiries from potential buyers, it’s essential to screen them thoroughly. Ensure that they understand the loan situation and are financially capable of assuming the responsibility. Request proof of income and references, if necessary. By vetting potential buyers, you can filter out those who may not be serious or qualified to take on the loan.

Ensure that potential buyers fully understand the loan situation. Discuss the loan terms, including the remaining balance, monthly payments, and any relevant details about the lender’s policies. Clarify any questions they may have and gauge their comprehension of the financial commitment involved in assuming the loan.

Verify the financial capability of potential buyers to assume the loan. Request proof of income, such as pay stubs or bank statements, to assess their ability to meet the financial obligations associated with the loan. Ensure that their income is stable and sufficient to cover the loan payments, as this will minimize the risk of default or complications down the line.

Request references from potential buyers, such as previous landlords, employers, or financial institutions. Contact these references to verify their credibility and reliability. References can provide insights into the buyer’s financial responsibility and character, giving you a better understanding of their suitability to assume the loan.

Consider conducting a credit check on potential buyers. This will give you an overview of their credit history and their ability to manage financial obligations. A good credit history indicates responsible financial behavior, reducing the risk of loan default. However, keep in mind that different regions have varying laws and regulations regarding credit checks, so ensure compliance with local legislation.

Gauge the seriousness and intent of potential buyers. Assess their level of interest, promptness in communication, and willingness to provide required documentation. Buyers who demonstrate a genuine interest and actively engage in the process are more likely to follow through with the purchase and assume the loan responsibly.

Trust your instincts when interacting with potential buyers. Pay attention to their behavior, responsiveness, and overall demeanor during the screening process. If something feels off or raises concerns, it’s important to proceed cautiously or explore other potential buyers.

By screening potential buyers, you can identify individuals who are genuinely interested, financially capable, and responsible. This process minimizes the risk of encountering complications during the loan transfer and ensures a smoother transaction. Ultimately, finding a qualified buyer who is capable of assuming the loan responsibility will increase the likelihood of a successful sale and a positive outcome for both parties involved.

Facilitate the Loan Transfer

Once you find a buyer who is willing to assume the loan, involve your lender to facilitate the transfer process. Contact the lender to understand their specific requirements and procedures. Provide all the necessary documents and ensure that the buyer completes the required paperwork promptly. Adhering to the lender’s instructions diligently will ensure a smooth transition of the loan.

Reach out to your lender early in the process to inform them of your intention to sell the car and transfer the loan. Inquire about their specific requirements and procedures for loan transfers. Each lender may have different policies in place, so it’s important to understand their expectations and follow their instructions carefully.

Gather all the necessary documents requested by your lender for the loan transfer. These may include a bill of sale, loan assumption agreement, and any other paperwork specific to your lender’s requirements. Ensure that all documents are completed accurately and in compliance with the lender’s instructions.

Keep the buyer informed about the loan transfer process and any requirements from the lender. Provide them with the necessary documents to review and sign. Encourage open communication between all parties involved to address any questions or concerns promptly.

Offer assistance to the buyer in completing the necessary paperwork for the loan transfer. Provide them with any supporting documentation they may need, such as your loan statements or loan account information. Being proactive in assisting the buyer will help streamline the process and ensure that all required paperwork is completed accurately.

Strictly adhere to the lender’s instructions throughout the loan transfer process. This includes submitting paperwork within specified timelines and providing any additional information or documentation as requested. Failure to comply with the lender’s instructions may result in delays or complications in transferring the loan.

Once all the required documentation has been completed and submitted to the lender, work with them and the buyer to finalize the loan transfer. This may involve arranging a meeting at a neutral location, such as the lender’s office, to sign and notarize the necessary paperwork. Follow any specific guidelines provided by the lender to ensure a legally binding transfer of the loan.

By actively facilitating the loan transfer process, you help ensure a smooth and successful transition for both yourself and the buyer. Clear communication, prompt completion of required documentation, and following the lender’s instructions are key to making the process efficient and minimizing any potential complications. Ultimately, a well-executed loan transfer will enable the buyer to assume the loan responsibility, and you can complete the sale of your car with confidence.

two men shaking hands on a car loan payment deal

Complete the Sale and Loan Payoff

Once the buyer has assumed the loan, complete the sale by transferring ownership of the car. Arrange a meeting at a neutral location, such as a bank or the lender’s office, to finalize the transaction. Ensure that all necessary paperwork is completed accurately, including the bill of sale and transfer of title. With the sale completed, use the funds from the buyer to pay off the remaining loan balance.

If you’re ready to sell your car and you want to forgo some effort on your part without missing out on maximizing profit, Carmigo can help. Carmigo has a huge network of dealerships that want your car. It only takes a few minutes to list. Once you answer a few questions about your car and take some photos, you’re good to go. Within a day, you can receive multiple offers on your vehicle. You set the asking price you want and if none of the offers meet it, you’re not obligated to pay a dime. After your car sells, you just have to wait for pickup and then get paid. It’s the easiest way to sell a car.

5 Best Cars to Sell in July 2023

best cars to sell in october

5 Best Cars to Sell in July

Carmigo is bringing you the best-selling used cars for July (or at least our prediction). We’ve analyzed trends on our marketplace as well as the general car market and compared those with U.S. economic trends to help you decide if this is the month to sell your car, or if you should consider waiting.

The market has been so weird so long, that weird is normal

When the used car market is unstable, people want a car that will last long and will hold its value no matter what the future holds.

People want Camrys. 

The market has been so unpredictable for a year now that dealerships and the general public alike are more comfortable with a safe bet.

So what’s the safest bed? A Camry.

In fact, used mid-sized cars in general are selling the best in the current kangaroo market.

You know the ones: Malibu, Altima, Accord, Avalon

According to the Conference Board Consumer Confidence Index®, consumer sentiment around vehicle buying conditions hit the lowest level so far this year in May, but remains higher than this time last year. 

And much like with the general car-buying public, car dealers have a similar sentiment. According to the monthly Cox Automotive industry survey, dealerships aren’t really expecting the market to go up or down. That doesn’t necessarily mean everyone expects the market to hold, we’re just not not sure which way it’s going to go and how fast. 

When it comes to the economy-priced reliable mid-size cars in the used car market, we’re seeing a continued trend of higher sales, higher relative prices, lower inventory and, lower depreciation.

Best Cars to Sell in July

green light chat box

You've Got the Green-Light

Toyota Camry best cars to sell in november, Toyota Camry best cars to sell in may, and one of the best cars to sell in june

For the last five months, Camrys have ranked near the top of sales on the Carmigo marketplace. Month over month, we list more and sell more Camrys than nearly any other car. 

The reason is simple: You can’t beat the Camry. They hold value well and are always in fairly high demand because of their year-over-year reliability, fuel economy, and safety standards.

When luxury cars and trucks start to decline in sales. When folks are opting for economy and fuel efficiency, that’s when the mid-size cars reign. The Camry fits into this category, but it’s its own thing. The Malibu led the way for mid-size, but we saw them all do well, including the Nisan Altima, Honda Accord, and Toyota Avalon.

mid sized sedans like this chevy malibu are some of the best cars to sell in june
2023 Honda CR-V

Folks who drive CR-Vs love CR-Vs because they’re tough and reliable. In the rare event someone sells a used CR-V, it gets snatched up quickly because they’re a sure bet for dealerships to turn around and retail them.

The subcompact SUV has done a good job over the years incorporating the things we love about larger utility vehicles into an economic package.

With updated features and a longer track record, drivers are trying subcompact SUVs to combat gas prices soaring and car prices acting crazy.

SUVs like this 2022 hyundai santa fe are some of the best cars to sell in july

The Hyundai Santa Fe always does well, it leads the among SUVs that middle-class families can afford. Alongside sub-compact SUVs, mid-tier, affordable SUVs are doing well. 

Worst Selling Used Cars

red light chat box

You've Got the Red Light

Ford Maverick

Because of market volatility and rising gas prices, we saw the bottom fall out on trucks in June. As long as gas prices stay high, that trend should continue. 

The Ford Maverick is the truck that leads the way among worst trucks to sell on the Carmigo Marketplace, mostly because new Mavericks are so affordable most people would rather buy one new than used.

Broncos have still not recovered from their massively inflated wait-list prices during the pandemic.


This, like the Tesla, had so much demand that manufacturers couldn’t keep up. But unlike the Tesla, this demand had been bubbling for decades — ever since Ford quit making the Bronco.

But once production caught up, everyone who wanted a Bronco had one, and almost all of those buyers overpaid for the cars in an inflated market. Now it’s not worth what the car loans cost to repay.

2023 Ford Bronco

A Maserati, in this economy? I think this is just an overall reflection of how inflated spending became before the used market slowdown. Now, coming out of a pandemic with weird markets, the only kinds of people who can afford used luxury cars can buy them new.

These cars didn’t even sell last month. Not one. Most people are opting for a more affordable mid-sized crossover.


People can’t afford this kind of luxury vehicle right now, and they’re certainly not taking out high interest loans to buy them used. 

Sellers listed multiple CX 9s and CX 5s on the Carmigo Marketplace in June, and only one out of the whole bunch sold.

It looks like the buyers are undervaluing these cars even compared to MMR estimated values. The highest offers are car coming in well below MMR.

The Best Way to Sell Your Green-Light Car

Shameless Plug: A lot of these price trends are based on the Carmigo Marketplace data. Carmigo is a one-of-a-kind platform that lets private car owners sell their used cars to dealerships.

Note: These predictions are simply that: predictions. We cannot tell the future. They are based on trends we’ve seen in the marketplace but are not a guarantee of future market outcomes.