bam

I might be in the market to buy a used car from CarMax and was wondering if anybody has had any stories, whether good or bad experiences with buying from CarMax and if you also bought the CarMax Extended Service Plan too? I've never purchased from them but from the quick research I did, it looks like they're a no haggle price and you also get a 5 day returned period. If I did buy from them, I'd want to take the car to my local Lexus dealer and have them check the car out to see if there are any repair issues that need to be addressed and if there are any body work repairs that aren't on the carfax. I found a car that I like. It's not the color that I prefer but I know that when used car shopping, getting everything you want is not always reality.

In any case, I'd like to hear your feedback on your buying experience and with the Extended Service Plan. How easy is it to make a claim with the extended warranty? The website doesn't list prices. Does anybody have any knowledge of pricing or general prices that they have for the plans? Any info is very much appreciated. Thanks.

DaveGS4

iTrader: (2)

https://www.clublexus.com/forums/is-...ghlight=carmax

https://www.clublexus.com/forums/gx-...ghlight=carmax

https://www.clublexus.com/forums/car...ghlight=carmax

RXSF

you should read the blog entries on Jalopnik from Doug Demuro.

Every used car he has bought at carmax, he buys the extended warranty and every time he comes up on top. Granted, he is purchasing problem known vehicles, (range rover), but it is a funny and good read

rominl

iTrader: (4)

yup, if i get a car from carmax, likely one of those cars that can get crazy repair bills, i am definitely getting the warranty

bam

So if you get the extended warranty, do you have to use Carmax to repair the car or can you take it the Lexus dealer of your choice? Also, do you need a pre-approval from Carmax before Lexus can actually make the repair or do you just take it to Lexus, have them repair it and then submit a claim or something to Carmax for reimbursement? Or better yet, do you take it to Lexus, have them repair it and bill Carmax directly?

Lil4X

These extended warranties are not all the same. What you are buying is essentially a specialized insurance policy and now several insurance agencies offer them - the trick is to find a good one. My Lexus service manager specifically told me NOT to buy the Lexus extended warranty because two or three companies offered better coverage, were considerably cheaper, and worked better with the repair shops. It seems that some policies are slow to pay, so shops would rather not work with them. Others don't cover everything . . . and that's the part that's sure to fail. Talk to the manager at your shop and see if he has a recommendation - or call your auto insurance company, they may have a similar policy that combined with your regular insurance might come in cheaper. In short, shop around.

rominl

iTrader: (4)

i don't have first hand experience but my friend told me about his. he brought his car in for issues, carmax tries to fix it. if they fix it, great. if they can't, they tell you to bring the car to the dealership (bmw, mb, etc...) and then they cover the bill

dunno if it's 100% true but that's what i heard

mmarshall

Though I've never actually owned a Car Max vehicle, I've shopped with a number of friends and colleagues there, and, from what I've seen, their service and repair bays seem quite impressive. They have what appears to be pretty much the same grade of equipment and ASE-Certified technicians that you will find at a good new-car dealership......though, of course, at new-car dealerships, some of the technicians have specialized factory-training on their specific brand and models, which you may not find at Car-Max.

Aron9000

Personally I think you are wasting your money buying an extended warranty on a Lexus. Lexus prides itself on a great reputation of reliability, durability, and low service costs. If it were a German car that you wanted to keep past the factory warranty period, then yes I'd buy the warranty.

joshthorsc

If you do plan on buying get pre approved first. Even with a 750 FICO score, Carmax was financing us through their Carmax finance at a whopping 10% apr! They did however, gave us 5 days to find our own loan if we didn't like their interest rate. Also when they tried to sell us their warranty, it was pretty pricey. It was $3000 and was going to cover up to 80k miles. The car we bought was a 2008 Corvette base model with 60k on the odo back in 2014. $3k for another 20k coverage? No thanks.

The Ikon

Don't buy it..! Get per approved by a credit union & purchase an extended warranty from them (typically 30% cheaper and cover more on payout). I've heard horror stories about Maxcare and a few good stories too. I know the manager at the carmax locally and he says their warranty is "good I guess"..

Trust me! I had a used car lot and the best warranties $ for $ are from the credit union. It was better than the extended policies we sold. Secondly a CPO extended warranty which many dealerships will sell you if your car qualifies, but don't pay their first quoted price there's a ton of wiggle room in it (because they know the service department is going to recoupe the monies later).

kennytbone

I opened this thread specifically to post this.