Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
U miss my point..I noted the value for my car per KBB was much higher than what they were offering me.
For starters KBB is an educated guess at best. But putting that aside just look at the actual dollar amounts involved.
They offered you $2,000.
You sold it for $3,700.
Obviously they can't offer you as much as a consumer is willing to pay for it since they have to turn around and sell it. Otherwise they wouldn't exist in the first place.
So how much do you think Carmax (or anyplace for that matter) should have offered you where you wouldn't feel like you were getting "ripped off"?
The craigslist sale for the $2000 car to a college kid?
Maybe a few thousand more in a few other scenarios?
No problem.
But when you get above $10,000...
and certainly above $15,000...
That buyers need for financing will be larger part of the deal for them.
hth
Yep. My uncle recently sold a car he bought 2 years ago for $55K at Carmax. It's hard to unload a car that costs that much via a private transaction. If I'm buying anything that costs more than a couple of paychecks, I'm going to need a warranty. Period. I couldn't imagine buying a $40,000, or even a $15,000 car, from a private owner and then have the transmission blow 5,000 miles down the road. Many people probably have the same reservations about buying from private owners, so places like Carmax are one of the few places sellers can go to get rid of high value vehicles.
What do you guys think of this place?
I went there last year to get an offer on a ford exporer 02 model.
They told me there wasnt a big market for them and the miles were kind of high.
Only like 80K or something. They offered me 2000 on it and I sold it for $3700 on Craigslist easily. Are they just trying to take advantage of lazy people?
I recently got a quote for a used lexus that was loaded and they offered me top dollar. Maybe it just depends on the type/demand for the car.
Nope, their job is to buy wholesale and sell retail..........that is the way RETAIL businesses have operated for the longest time.........that is how they make profit and stay in business.
Just like Bank Of America. People are all in a hissy fit because they are going to actually charge for a service they provide, via a sophisticated computer network.
I have mixed feeling on my Carmax car. In '07 I purchased a 2004 Impala SS limted edition indy raceway with 21K miles on it. The car was PRISTINE. Two days after purchasing the car, my insurance agent called me to let me know the car was in a previous accident with a $3K claim...WTH!!!!!!!!! Livid, I contacted Carmax and they used the excuse that since it didn't show up on the carfax they didn't know. Anyway, thankfully I purchased the extended warrenty because at year one, took the car to the dealership due a grinding in the steering wheel. $1500 later (covered under warrenty) I received a new steering column and some other things. Year two, speedometer and water pump died; and in year 3 grinding in the column yet again. Each time, took to dealership to fix and all was covered under the warrenty.
If nothing else, the warrenty is TOP NOTCH. Carmax ended up lossing a pretty penny on that warrenty. Now initally I though it was the car, but my girlfriend purchased an Excalade from them and has has problems with her rims/tires since day one! She finally got fed up and traded the mess in.
For starters KBB is an educated guess at best. But putting that aside just look at the actual dollar amounts involved.
They offered you $2,000.
You sold it for $3,700.
Obviously they can't offer you as much as a consumer is willing to pay for it since they have to turn around and sell it. Otherwise they wouldn't exist in the first place.
So how much do you think Carmax (or anyplace for that matter) should have offered you where you wouldn't feel like you were getting "ripped off"?
You just have to use your brain. I took my vehicle in to be appraised, they offered me 3,000. The identical vehicle on their lot, with similar mileage, but a lot less options (a base model) had a sticker price of nearly 10 grand. When the sales guy saw that, he knew they weren't going to make the sale, but I gotta give him props for trying to explain the huge gap in values, he never gave up! Something about the warranty they offer is worth the 7,000 difference, what a lie.
I've also seen used vehicle prices on their lot for more than the vehicle cost new, especially with model year end close out pricing.
I think they would give you a much better price for a trade in then a dealer, but CPO cars from dealers will give you a 12 mon/12k warranty with a used car offered by THE MANUFACTURER.
I see Carmax will give you a 30day warranty which is useless, what kind of extended warranty do they offer and is it as good as one from the manufacturer?
Some used cars I see offered by carmax or dealers are only 2 or 3k less then a used one, seems better to just go with a new car on models that fall into that category.
Whats the difference from buying new from Carmax then from a dealer? I see new 2013 Toyota Corollas for $16,898 and the dealers price is only about $800 off MSRP of $19,200?
Last edited by ranosb; 11-19-2012 at 05:33 PM..
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Anyway, thankfully I purchased the extended warrenty because at year one, took the car to the dealership due a grinding in the steering wheel. $1500 later (covered under warrenty) I received a new steering column and some other things. Year two, speedometer and water pump died; and in year 3 grinding in the column yet again. Each time, took to dealership to fix and all was covered under the warrenty. 
