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I got a Toyota from CarMax in 2014. Did I pay too much? Probably. But at that point, I didn't care. I was so tired of playing the car shopping game with obnoxious condescending car salesmen I was ready to buy one. But I didn't want just any vehicle. I wanted what I wanted and was willing to go without wheels a little while until I found it. The vehicle was exactly the one I wanted: a low mileage RAV4 with the uncommon V6 engine instead of the sluggish V4. It is still going strong. How do you define paying too much? There's more to the car buying process than just Blue Book values, IMO. I would rather get a root canal than buy another. Those car salesmen make the process dreadful. I tried going private party first but the cars had serious problems they tried to hide from me. I took both vehicles I was considering to the mechanic and they failed their inspection. My CarMax car passed, so I bought it.
Carmax pays more for used cars from private parties, then cleans them up and goes over them before selling them. Since they paid more, they charge more. It's pretty simple. They also don't keep questionable cars to resell and instead send them on to auction like other dealers. What's left are cars in much better condition than you often find on the corner used car lot. In MOST places they also have a much wider selection to choose from, so it's often easier to find exactly what you want with less hassle. And yes, for a lot of people, reducing the hassle of it all is worth it.
Good for you that you like to be confrontational and dive your "hard bargain." Doesn't make others who don't want to be confrontational into "wimps," tough guy.
I've never bought there because they don't carry the kinds of cars I tend to be interested in buying (specialty enthusiast cars) but I can definitely see the appeal.
They offered me $5k less then my Porsche dealer offered for my car. Watch the YouTube video of the guy with the super rare $2m old Lamborghini who brought it in to see if they’d buy it. They offered around $150-200k. Yeah, let’s do our research and pay you fraction of pennies for it. It took them awhile to try and figure it’s value. They would have flipped the car the next day for $1m+profit.
They offered me $5k less then my Porsche dealer offered for my car. Watch the YouTube video of the guy with the super rare $2m old Lamborghini who brought it in to see if they’d buy it. They offered around $150-200k. Yeah, let’s do our research and pay you fraction of pennies for it. It took them awhile to try and figure it’s value. They would have flipped the car the next day for $1m+profit.
They offer a bit more than BB for normal cars, which is their bread and butter. I wouldn't deal with them for specialty cars. But for average used cars, they're better than most.
They offer a bit more than BB for normal cars, which is their bread and butter. I wouldn't deal with them for specialty cars. But for average used cars, they're better than most.
Right, I agree. The younger guy in video did waste their time bringing it to them.
With CarmAx, all you seem to be paying a premium for is a 30 up to 90 day warranty, depending on what state you live in. 1 day after that limited warranty expires, that car is no different than the dealer down the road if anything goes wrong, so is that $2-4k premium you paid at carmax worth it compared to another dealer, just for a month or 2's worth of a peace of mind.
They offered me $5k less then my Porsche dealer offered for my car. Watch the YouTube video of the guy with the super rare $2m old Lamborghini who brought it in to see if they’d buy it. They offered around $150-200k. Yeah, let’s do our research and pay you fraction of pennies for it. It took them awhile to try and figure it’s value. They would have flipped the car the next day for $1m+profit.
As well they "should." Any car dealer, when dealing with something not in his or her wheelhouse, is going to leave room for error AND profit. If you bring a Porsche to a Toyota dealership (or Carmax,) the used car manager doesn't know if its the top of the line 911, or the top of the line RARE 911, or the common 911. And, he has to send it to the Porsche dealer to get worked on. And, he doesn't know if you skipped the all important $3K service visit to rotate the tires and top of the headlight fluid.
Carmax pays more for used cars from private parties, then cleans them up and goes over them before selling them. Since they paid more, they charge more. It's pretty simple. They also don't keep questionable cars to resell and instead send them on to auction like other dealers. What's left are cars in much better condition than you often find on the corner used car lot. In MOST places they also have a much wider selection to choose from, so it's often easier to find exactly what you want with less hassle. And yes, for a lot of people, reducing the hassle of it all is worth it.
Good for you that you like to be confrontational and dive your "hard bargain." Doesn't make others who don't want to be confrontational into "wimps," tough guy.
I've never bought there because they don't carry the kinds of cars I tend to be interested in buying (specialty enthusiast cars) but I can definitely see the appeal.
Every single large car dealership in town does the same thing you said about Carmax. Often times, those dealerships allow you to bargain and get a better deal than Carmax. Only fools go to Carmax.
Every single large car dealership in town does the same thing you said about Carmax..
Not in 99% of areas, they don't. Carmax usually offers more in buyout than others, and large dealerships don't just BUY cars off the street without being trad-ins usually.
Like i said, I don't use them because I deal with specialty cars usually, but I see the appeal.
I purchased one car from Carmax a few years back. Price was slightly higher (few hundred bucks) than I could have negotiated at another dealership. That said, the car was exceptionally low mileage and extra clean. The transaction was straight forward and easy to complete. I wouldn't go out of my way to use them nor would I shun them.
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