Any experience with CarMax?
06-08-13, 10:01 AM
#16
Lexus Champion
This was exactly my situation. Every dealer wanted our Honda but were afraid to step up. I know I was offered more then my vehicle would sell for at the auctions. Since I could pull up auction numbers on my trade and car we wanted to buy I was able to toss out the numbers game and get to the point. I even called my friend, owner of a Honda Dealer, and he said I was crazy to not take their offer. But not every situation works out this way.
It really does boil down to the car your trading in, or having them purchase. Again its all a supply/demand on what they will offer. Having more experience seeing what cars will sell for at the auction they have NO reason to pay "what" you think your car is worth, regardless of age, or what KBB says its worth. Your more common cars, due to the volumes they sell, will drop in value much faster at the auctions. More people trading out of these vehicles in the first year kill it for the rest. Loss of job, not happy, ect...
I did take two cars for CarMax to purchase in the past and the offer was lower then I wanted. I just walked out and went on with my day.
06-08-13, 11:13 AM
#18
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My experience has been pretty good at Carmax. I had my 2011 Highlander appraised last year and they offered 32k. It was rear ended within the first month of ownership and it reflected on the carfax report. Carmax did not test drive the car.
I wanted to trade it on on an RX450 and the lexus dealer offered 28k and thought I was lying when I told them Carmax offered 32k. In the end, I ended up giving it to a family member and buying a Cayenne.
I wanted to trade it on on an RX450 and the lexus dealer offered 28k and thought I was lying when I told them Carmax offered 32k. In the end, I ended up giving it to a family member and buying a Cayenne.
06-08-13, 11:16 AM
#19
Lexus Champion
My experience has been pretty good at Carmax. I had my 2011 Highlander appraised last year and they offered 32k. It was rear ended within the first month of ownership and it reflected on the carfax report. Carmax did not test drive the car.
I wanted to trade it on on an RX450 and the lexus dealer offered 28k and thought I was lying when I told them Carmax offered 32k. In the end, I ended up giving it to a family member and buying a Cayenne.
I wanted to trade it on on an RX450 and the lexus dealer offered 28k and thought I was lying when I told them Carmax offered 32k. In the end, I ended up giving it to a family member and buying a Cayenne.
06-09-13, 02:58 AM
#20
Lexus Champion
Lots of car dealers are willing to buy your car so if Carmax lowballs you, you can always take it elsewhere for a appraisal, but it probably wont be much different. My experience with Carmax was good, although I didn't purchase a car from them. Actually got to test drive a Boss 302 and ISF from them and their service is great. From what I was told, their price is final and non-negotiable, including trade-ins.
I'd of bought the Boss 302 from them but I wasn't satisfied with what they offered me for my M3. I really like their huge inventory and that they can ship a car anywhere from the US but at a price. I wouldn't mind shopping with them if I was ever in the market for a used car.
However, don't let them fool you about only having top notch vehicles in their inventory. I saw a e55 amg on their lot with one missing fog light and the ISF I test drove was in pretty bad condition. Don't fall for their "friendliness" and always look at the car thoroughly.
I'd of bought the Boss 302 from them but I wasn't satisfied with what they offered me for my M3. I really like their huge inventory and that they can ship a car anywhere from the US but at a price. I wouldn't mind shopping with them if I was ever in the market for a used car.
However, don't let them fool you about only having top notch vehicles in their inventory. I saw a e55 amg on their lot with one missing fog light and the ISF I test drove was in pretty bad condition. Don't fall for their "friendliness" and always look at the car thoroughly.
06-09-13, 08:31 AM
#21
Lexus Fanatic
I've never bought a car from Carmax (I don't buy used cars), but I have always considered it in the past and I find Carmax cars in general to be rougher than cars on other dealer lots, and more expensive.
That said, I have sold several cars to Carmax and done very well, at times with their offers being several thousand dollars more than what I had been offered elsewhere. It all depends on the car, and the demand at the time.
In terms of it being slow, I don't really get that. Takes them 45 minutes or so to appraise the car, maybe another 45 minutes to process the paperwork and give me a check. I don't consider 1.5 hours slow.
That said, I have sold several cars to Carmax and done very well, at times with their offers being several thousand dollars more than what I had been offered elsewhere. It all depends on the car, and the demand at the time.
In terms of it being slow, I don't really get that. Takes them 45 minutes or so to appraise the car, maybe another 45 minutes to process the paperwork and give me a check. I don't consider 1.5 hours slow.
06-09-13, 09:34 AM
#22
my understanding is carmax offers fair book value if it comes up a clean fax and after a fast inspection.i sold them a silverado i bought new with my gm employee discount in 04 and i got 400 dollars less then i paid 4 months after i bought it.
that amount was between fair and good and i had 1600 miles on the silverado.
that amount was between fair and good and i had 1600 miles on the silverado.
06-09-13, 03:39 PM
#23
Lexus Fanatic
Carmax is unique from other "we'll buy your car" outfits because they sell their own cars instead of selling them at auction. They know what they have sold the last few models of your car for throughout their footprint, and they value a car based on that instead of auction values or book values.
06-09-13, 04:12 PM
#24
However, don't let them fool you about only having top notch vehicles in their inventory. I saw a e55 amg on their lot with one missing fog light and the ISF I test drove was in pretty bad condition. Don't fall for their "friendliness" and always look at the car thoroughly.
Always examine any used vehicle and do your homework. We got a great deal on our purchase and and even better deal on the trade in. While I had a few other options they didn't make sense to loose the tax credit. I obtained the service history of the SUV we purchased. Had it not had a service history I would have never purchased.
You can buy new cars from CarMax, not easy, but they do get new cars to offer. Of course this is not their niche.
I have gone from Leasing cars for business to buying new. I won't lease cars anymore with the minimal usage. I certainly won't purchase/lease a first year model release anymore. This has pushed me to consider used cars when I never had in the past. I plan to "try" and keep my cars a bit longer then I have in the past. So far this hasn't had a great start
06-10-13, 08:07 AM
#25
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Carmax is unique from other "we'll buy your car" outfits because they sell their own cars instead of selling them at auction. They know what they have sold the last few models of your car for throughout their footprint, and they value a car based on that instead of auction values or book values.
06-10-13, 08:53 AM
#26
Lexus Fanatic
However, don't let them fool you about only having top notch vehicles in their inventory. I saw a e55 amg on their lot with one missing fog light and the ISF I test drove was in pretty bad condition. Don't fall for their "friendliness" and always look at the car thoroughly.
06-10-13, 09:06 AM
#27
Lexus Fanatic
People who have gotten disappointing offers from Carmax have cars that they wouldn't have likely sold on their lots.
Other "we buy your car" outfits have to sell EVERYTHING at auction.
06-10-13, 12:13 PM
#28
Lexus Fanatic
iTrader: (20)
did the dealer actually say you were lying?
even if they think that they should never make you feel that they think that! they could just ask to see your carmax trade-in offer, which would be a fair request.
06-10-13, 06:51 PM
#29
This is so far from true, they want to sell it retail.
06-10-13, 08:58 PM
#30
Lexus Fanatic
I'm talking about the guy in a van who drives around and "beats Carmax offers"...he has no platform to sell a vehicle that compares to Carmax. He could not come within $2,500 of what Carmax offered me for our Prius. He showed me the auction prices, Carmax' offer was WAY more.
As for condition...my cars are always in good condition, but I did have a VW New Beetle that I sold to Carmax with all kinds of warning lights on. They gave me thousands more than what anybody else would. Helped that the warning lights didnt come on until 15 minutes into driving
As for condition...my cars are always in good condition, but I did have a VW New Beetle that I sold to Carmax with all kinds of warning lights on. They gave me thousands more than what anybody else would. Helped that the warning lights didnt come on until 15 minutes into driving