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Old 09-01-2017, 05:15 AM   #1
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CarMax

Have not seen any discussion re this vehicle purchasing system; redirect me if in error.

What experiences have you had with buying a vehicle from CarMax or similar business? I am looking for a good deal on an Acura TL or similar sport sedan.
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Old 09-01-2017, 05:35 AM   #2
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I sold two vehicles along the way to CarMax and they gave me the best price and made the process easy. I have not purchased a vehicle from them however. I hear good things though and others will elaborate.
Good luck

Rich
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Old 09-01-2017, 05:37 AM   #3
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I just bought a Ford truck. I pick it up today. You can do just as well by asking for bids, maybe better.

I went to a dealership fleet department, and got a no-haggle invoice price. I was unhappy with it.

I then send out five requests for bids to five different dealerships. I received prices almost immediately. I had the exact truck I wanted, with all the options listed. I knew the MSRP price and invoice price for all the options.

When I got the prices, I had one $800 under invoice. The fleet dealer matched it. I sort of had to go with that dealer, ad I had some dealership money to spend.

Ford had $1,500 incentive, plus a $750 financing incentive. $2,250 total.
I got a private cash offer in my email for $750.
I joined the American Quarter Horse Association for $45, and got a $500 rebate
I used my $1,849 in dealership credits.

So, I got my truck for $4,599 under invoice, or $10,620 under MSRP.
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Old 09-01-2017, 05:49 AM   #4
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My experience with shopping at Car Max for a used car is that they are priced on the high end. I've found better deals buying from dealerships and usually purchase a CPO vehicle.
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Old 09-01-2017, 06:29 AM   #5
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Test drove a few cars from them in the past. Last purchase I bought from them and traded in my old used car.

The good:
(1) price is reasonable without a lot of pressure to buy
(2) good selection of used cars to test drive
(3) don't have to haggle on prices
(4) probably won't get a clunker
(5) good website with photos and car history reports
(6) will buy your used car even if you don't buy from them

The bad:
(1) salespeople may not know the ins and outs of a certain model as in other dealerships
(2) no haggling -- if you like to haggle

I would buy from them again.
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Old 09-01-2017, 06:35 AM   #6
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It seems similar to the selling experience. Easy and pleasant, but you won't get the best price. But you won't get a bad price either. Very little pressure in buying since the salesmen aren't on commission. My impression, nothing more than that, is that their cars are generally in good shape. It's easy to see the regional (as well as nationwide) inventory rather than just the local lot, and you can get the car you want transferred locally. It's free if it's close enough, otherwise there's a fee. I'm not sure what happens if you don't like a car that they transfer for a fee.

I've shopped there twice but both times bought from a dealer. Once I got a better price, once they didn't have the car we wanted.

It's slightly odd that the sales rep must drive the car off the lot, but I suppose that's some kind of anti-theft system. The first time I was looking at a Miata and the guy was admittedly terrible at driving a stick.
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Old 09-01-2017, 06:57 AM   #7
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Quote:
Originally Posted by RunningBum View Post
It seems similar to the selling experience. Easy and pleasant, but you won't get the best price. But you won't get a bad price either. Very little pressure in buying since the salesmen aren't on commission. My impression, nothing more than that, is that their cars are generally in good shape. It's easy to see the regional (as well as nationwide) inventory rather than just the local lot, and you can get the car you want transferred locally. It's free if it's close enough, otherwise there's a fee. I'm not sure what happens if you don't like a car that they transfer for a fee.

I've shopped there twice but both times bought from a dealer. Once I got a better price, once they didn't have the car we wanted.

It's slightly odd that the sales rep must drive the car off the lot, but I suppose that's some kind of anti-theft system. The first time I was looking at a Miata and the guy was admittedly terrible at driving a stick.
I'm pretty sure the vehicle transfer fee is non-refundable. Last car I bought, I did pay to get a car transferred. Costed more, but had to get the color I wanted .
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Old 09-01-2017, 08:05 AM   #8
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Originally Posted by easysurfer View Post
Test drove a few cars from them in the past. Last purchase I bought from them and traded in my old used car.

The good:
(1) price is reasonable without a lot of pressure to buy
(2) good selection of used cars to test drive
(3) don't have to haggle on prices
(4) probably won't get a clunker
(5) good website with photos and car history reports
(6) will buy your used car even if you don't buy from them

The bad:
(1) salespeople may not know the ins and outs of a certain model as in other dealerships
(2) no haggling -- if you like to haggle

I would buy from them again.
exactly my experience. I also like that you can drive various makes of vehicles. I knew I wanted to buy my Toyota Tacoma truck but wanted to drive the Chevy equivalent just for quick comparison.
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Old 09-01-2017, 08:17 AM   #9
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Quote:
Originally Posted by easysurfer View Post
Test drove a few cars from them in the past. Last purchase I bought from them and traded in my old used car.

The good:
(1) price is reasonable without a lot of pressure to buy
(2) good selection of used cars to test drive
(3) don't have to haggle on prices
(4) probably won't get a clunker
(5) good website with photos and car history reports
(6) will buy your used car even if you don't buy from them

The bad:
(1) salespeople may not know the ins and outs of a certain model as in other dealerships
(2) no haggling -- if you like to haggle

I would buy from them again.
when I bought a car from carmax they also had a warranty for 30 days? I got several things fixed (foglights, etc) that first month
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Old 09-01-2017, 08:53 AM   #10
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Just sold a car to CarMax yesterday but while there got some info for my neighbor who's in the process of getting a kid car and is looking at both new and used.

CarMax has a 30 day limited warranty and a 5 day cooling off period (state specific). The fee for bringing in 'your' car from beyond the 'free' point will not be charged if you decide you don't want the car (this may also be state specific). Lots of cars on the lot and I would certainly look at them if in the market for a used car.

They have a very comprehensive web site where you can look up specific cars. In fact, told DH I'm curious as to what they will sell ours for so will be checking for our car. As it's a later model in great condition, I assume they will sell rather than auction it off.
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Old 09-01-2017, 09:06 AM   #11
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I sold 2 cars to them and bought 2 new Toy Highlanders from them, in 2006. Selling to them was great. 30 minutes to get a quote, which is good for 7 days I think. Buying new was limited to Toyota, since they are a dealer, at least in my area (MD). Back in 2006, Internet departments weren't as developed as they are now and I hated haggling. But now, I'd use the Internet and Costco purchasing programs if buying new to drive the price down. I haven't bought used from them though, so can't talk to that process.
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Old 09-01-2017, 09:49 AM   #12
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Bought a car from them (2 year old used Toyota Camry) about 4 years ago, they had it below KBB retail. The entire test drive and purchase process, including financing, took less than 3 hours. I do not like to haggle so I like knowing exactly what I am paying, including tax. No hard sell, the only addition they mentioned (as expected) was an extended warranty, which I declined and their only response was "okay". The car itself has been great, and has only needed standard factory maintenance and a set of tires during the time I have had it. I would by from them again.

Interestingly, I looked at their used car prices and they seem lower for 2-3 year old low mileage used cars than they were 4 years ago.
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Old 09-01-2017, 09:57 AM   #13
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Interestingly, I looked at their used car prices and they seem lower for 2-3 year old low mileage used cars than they were 4 years ago.
I think they were feeling the pains of competition and finally got the message. For a long time they were very pricey for any used car. We looked for a used Mustang for DD a few years back and they were $3 K over what other dealerships wanted for the exact same ~$15 K car, near same mileage, and not a prior rental fleet car. So she bought her used Mustang from a dealer instead.
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Old 09-01-2017, 10:37 AM   #14
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Even though I have used them multiple times - I had no idea of their financials...
approx. stock price 5 years ago was mid $20's now at $67
-WOW-
CarMax Revenue, Profits - KMX Annual Income Statement
Fiscal year is Mar - Feb. 2017
CarMax Net Sales or Revenues 15.88B
Cost Of Goods Sold (COGS) 13.69B
CarMax Gross Profit 2.18B
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Old 09-01-2017, 12:18 PM   #15
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Pretty good experience for us with DD's purchase. She was looking at exact make model color at out of town location. They brought the car in and waived transfer fee ($75). She got extended warranty from CarMax and it was honored by GM dealer. The pricing is good not great but they do offer discount if car is not sold after awhile (60 days?).
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Old 09-01-2017, 12:24 PM   #16
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I haven't bought a car from them but sold my Highlander to them last week. They paid more than the dealer offered for trade in - and slightly above the high end of KBB trade in value.

While my car was being appraised the rep showed me some cars similar to the one I was negotiating for... but 1-2 years older... The prices for used were very close to my new car price - even the rep said I was better off going with new.

It seems like a decent business model. I liked their process for selling a car to them.
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Old 09-01-2017, 12:30 PM   #17
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I agree you can definitely get better prices elsewhere than CarMax, but you have to put work in to get it.

If, like me, you hate all that crap, CarMax is pretty straightforward with no surprises and very little hassle, although they had a few more extended warranty / financing offers than my previous experience when my Mom bought her car there.

Also, CarMax's sales price floor seems to be just over $10k, so if you're looking for a cheaper vehicle than that, CarMax isn't for you.

They seem to buy plenty of cars they won't sell on their own lots, though.
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Old 09-01-2017, 12:58 PM   #18
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I've bought 2 from them and returned one of them. No hassles at all, including the 5 day refund thing. Also got a quote on one of my cars - very fair, but I opted to sell on C-list.

As others have stated you can probably get a better deal elsewhere, But I think C-max, has a lock on the used car experience. I've been to several of their stores and the experience was consistent from one to the next. Most of us, at one time or another, have wandered onto used car lot where the sales person made your next desire not a car - - - but a hot shower. A lot of folks will pay a modest premium to avoid that sort of maltreatment.
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Old 09-02-2017, 07:31 AM   #19
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Bought a Jeep Wrangler Sahara from CarMax (Tucson AZ) several years ago. Pleasant process. No pressure. Probably could have saved some money if I looked around first, but don't like going into dealers showrooms.

Prior to picking up car was called by CarMax. Told the windshield was found to have a small crack during their pre-release inspection. It would take them a couple of additional hours for them to put in a new one.

If in the market for another car I'll probably go back to them.

Rich
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