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CARMAX- What's your experience?

Valued Contributor

Re: CARMAX- What's your experience?

Dragen- no, you cannot negotiate. But, they are pretty fair to start with
Chasex3/PenFedx3/NFCUx2/BofA/BMO/AMEX x5(4 revolvers +Platinum)/CapOnex2/DCU/Blispay/Cabelas/BBVA/Fifth Third/Banco de Brazil/BB&T/HSBC/Atira/Commerce Bank/State Farm Visa........I have them all. Except Barclays. They suck. And Sync. They suck worse! And Citi,, because I Have 9,000 Inq.
In the 520-530 range in 12/2015.... Currently EQ747/TU758/EX744
NFCU & PenFed are my best friends!!

In 3/2016 I had a $1800 fully secured CapOne QS. And that was it.. Current CL $247,000 (plus my auto and RV loans)
Valued Contributor

Re: CARMAX- What's your experience?

Babbles- the only issue I have with Carvana is that they are owned by drivetime, and they aren't exactly known for quality vehicles Smiley Sad
Chasex3/PenFedx3/NFCUx2/BofA/BMO/AMEX x5(4 revolvers +Platinum)/CapOnex2/DCU/Blispay/Cabelas/BBVA/Fifth Third/Banco de Brazil/BB&T/HSBC/Atira/Commerce Bank/State Farm Visa........I have them all. Except Barclays. They suck. And Sync. They suck worse! And Citi,, because I Have 9,000 Inq.
In the 520-530 range in 12/2015.... Currently EQ747/TU758/EX744
NFCU & PenFed are my best friends!!

In 3/2016 I had a $1800 fully secured CapOne QS. And that was it.. Current CL $247,000 (plus my auto and RV loans)
Moderator

Re: CARMAX- What's your experience?


Appleman wrote:

If you plan to trade in a car (at any dealer) I highly recommend that you get a FREE buy bid from CarMax. They are one of the biggest used car buyers in the nation. Their offer is good for 7 days and it will give you a good idea what your trade is really worth.

 

As most know you need to weigh the choice of selling a car yourself or trading it in. It always seems easier just trading it in and remember most (all?) states only make you pay sales tax on the car purchase minus the trade in value. In my state, trading in a car worth $10,000 will save me about $1,000 in taxes compared to selling it myself.

 

Google Doug DeMuro, Range Rover, CarMax warranty to see his story of how much he benefitted from the CarMax warranty.


^^^So I googeld the above and I am truly impressed by the CarMax warranty.  I have never heard of a warranty actually paying out for so long and for so many repairs. I will have to modify my advice in the future with the CarMax exception because those warranties apparently are worth the money!  Thanks for posting that info Appleman....

New Contributor

Re: CARMAX- What's your experience?


fltireguy wrote:
Dragen- no, you cannot negotiate. But, they are pretty fair to start with

I just looked at their prices, and they are not really competitive with most big dealers here in Indianapolis. I don't think I would bother going there myself.

"Nobody had a credit card when I was a kid. No one had credit card debt. But these big companies and banks wanted to know how to get more money out of people - get them charging things." - Michael Moore
Community Leader
Valued Contributor

Re: CARMAX- What's your experience?


StartingOver10 wrote:

Appleman wrote:

If you plan to trade in a car (at any dealer) I highly recommend that you get a FREE buy bid from CarMax. They are one of the biggest used car buyers in the nation. Their offer is good for 7 days and it will give you a good idea what your trade is really worth.

 

As most know you need to weigh the choice of selling a car yourself or trading it in. It always seems easier just trading it in and remember most (all?) states only make you pay sales tax on the car purchase minus the trade in value. In my state, trading in a car worth $10,000 will save me about $1,000 in taxes compared to selling it myself.

 

Google Doug DeMuro, Range Rover, CarMax warranty to see his story of how much he benefitted from the CarMax warranty.


^^^So I googeld the above and I am truly impressed by the CarMax warranty.  I have never heard of a warranty actually paying out for so long and for so many repairs. I will have to modify my advice in the future with the CarMax exception because those warranties apparently are worth the money!  Thanks for posting that info Appleman....


I agree...thanks for sharing.  I know service agreements are often frowned upon here but I buy them regularly because I usually keep my vehicles well past the factory warranty.  I've never had to use one to the extend of the guy in this video but it has definitely worked out well for him.  Note to self, avoid Range Rovers at all cost.  Smiley LOL

Moderator

Re: CARMAX- What's your experience?


Loquat wrote:

StartingOver10 wrote:

Appleman wrote:

If you plan to trade in a car (at any dealer) I highly recommend that you get a FREE buy bid from CarMax. They are one of the biggest used car buyers in the nation. Their offer is good for 7 days and it will give you a good idea what your trade is really worth.

 

As most know you need to weigh the choice of selling a car yourself or trading it in. It always seems easier just trading it in and remember most (all?) states only make you pay sales tax on the car purchase minus the trade in value. In my state, trading in a car worth $10,000 will save me about $1,000 in taxes compared to selling it myself.

 

Google Doug DeMuro, Range Rover, CarMax warranty to see his story of how much he benefitted from the CarMax warranty.


^^^So I googeld the above and I am truly impressed by the CarMax warranty.  I have never heard of a warranty actually paying out for so long and for so many repairs. I will have to modify my advice in the future with the CarMax exception because those warranties apparently are worth the money!  Thanks for posting that info Appleman....


I agree...thanks for sharing.  I know service agreements are often frowned upon here but I buy them regularly because I usually keep my vehicles well past the factory warranty.  I've never had to use one to the extend of the guy in this video but it has definitely worked out well for him.  Note to self, avoid Range Rovers at all cost.  Smiley LOL


Having been in the business for a long time in the past I’ve seen the cost of repairs at dealerships and other service places and extended warranties definitely have a place as long as you get them for a reasonable price.  

Valued Contributor

Re: CARMAX- What's your experience?

I looked on Carmax this morning and their are not any Range Rovers listed, did they learn theri lesson?. Others have also had good experiences getting a service contract on some high end Mercedes, BMWs and Porsches at CarMax. 

Valued Member

Re: CARMAX- What's your experience?

FYI, because CarMax is a publicly held company they disclose annual profit margins.  Although alot of people enjoy the no haggle policy, you pay a premium for it because they turn the highest profit margin in the industry amongst the largest other dealers that do negotiate. 

 

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Valued Contributor

Re: CARMAX- What's your experience?

Enterprise Car Sales is another place that has a no haggle policy and I've heard that they're pretty easy to deal with and don't hassle you in the same manner as traditional dealers.  My concern with their vehicles is that I know how some friends and family treat rental vehicles...