topic Re: CarMax Loan in Auto Loans

CarMax Loan

babbles — Tue, 06 Aug 2024 23:00:22 GMT

was applying for a pre-approval on a car at CM but then I decided to pull a Monroneylabel on a particular car I liked, let me get this right they are wanting $37998 for a 2024 Sorento Hybrid EX with 7k miles but looking at the original sticker, the MSRP was $36990(retail brand new with shipping $38590) , so if the person drove the car for about 6 months, how in the world could they be selling the car at this price?? I won't buy it but I would like to know from them, is this a misprint??

maybe I am missing something about this pricing??? can someone help me out with this??

Re: CarMax Loan

pizzadude — Wed, 07 Aug 2024 17:56:12 GMT

They gotta start somewhere with the price, but I'd guess it'll eventually drop if no one buys it.

Cars selling for over MSRP was a thing for quite a while but this does seem out of band given that it's technically a used car with 7K miles.

Re: CarMax Loan

Shooting-For-800 — Wed, 07 Aug 2024 03:50:37 GMT

What does KBB say?

I have a buddy in the car world and he said some used cars were selling close to new prices due to inventory issues.

Plenty of high demand cars selling over MSRP.

Search the entire country for CarMax inventory.

Sometimes it is dramatically cheaper in other markets, even with shipping charges.

GL!

Re: CarMax Loan

babbles — Wed, 07 Aug 2024 15:36:05 GMT

I will do a country search and monitor the price drop on this vehicle

Re: CarMax Loan

dunn2500 — Sun, 11 Aug 2024 19:22:47 GMT

carmax and carvana are notoriously high both on price and interest rates.....its an easy process but also an expensive one......would not purchase from either but have sold to them a few times, they paid extremely well and sold for extremely high

Re: CarMax Loan

Shooting-For-800 — Tue, 13 Aug 2024 02:32:57 GMT

CarMax can be high, but they have deals too.

They are also better quality than many used car dealers.

Re: CarMax Loan

babbles — Mon, 19 Aug 2024 02:42:54 GMT

so the other options are:

found two other cars:

Kia Rio S, 36K miles, 2018 one owner serviced at Kia the life of the vehicle thus far, 15k

2014, Toyota Avalon, XLE Premium Hybrid, FWD, one owner and also serviced at Toyoto the whole time up till now 16k

(this is verifying with the CARFAX)

but for 20k, I could get a brand new nissan versa

all three good on gas but one is brand new for a little more, does this one make more sense?? with the new one I know i am not

buying someones previous wear and tear but the depreciation has been taken out of the used ones

thoughts??

Re: CarMax Loan

dahx — Mon, 19 Aug 2024 13:16:29 GMT

New seems to be the better deal vs CarMax and friends.

If you or anyone you know is mechanically inclined, buy used straight from private seller should get the best deal.