[Inline_Six]

Hey guys, for those of you in the United States who have not sold to or bought from CarMax, I just wanted to write a short review based on my very positive experience there.

Today was my first time selling a car to CarMax, and boy, was I impressed ! I walked into a very large, clean, air-conditioned, and otherwise well maintained building in Oxnard, California.

As soon as I walked in, I was greeted by a very friendly person, and asked for my name and phone number. He then showed me to the nice waiting room where I could chill for a bit before an appraiser was available for me. It was busy because it's a Sunday. Hence the short but pleasant wait. I sat down comfortably in the waiting room, and plugged in my laptop, connected to their free, no password, WiFi network, and immediately logged into ... you guessed it - 2Addicts !

About 15 minutes later, my phone rang, and a sales advisor said he was ready to begin the process with me. We talked briefly, he was very friendly and knowledgeable, and answered all my questions about how selling at CarMax works. We then walked to my car on the lot, and he took a brief look at it, just to get an idea of what kind of deal they were getting from me.

He then entered me into their computer system, in a queue (again because it was busy) for appraisers to work off of. We chatted about my new M235i for about 20 mins or so, before I reached the first position in the queue and an appraiser was ready to look at my car. We walked out to the lot again with the appraiser and left her the key so she could turn on the interior instruments and do a short test drive.

About 20 mins after that, the appraiser sent a quote into their computer system. The sales advisor opened it up on the monitor to show me. I was offered a surprisingly high amount for my car. About 2k-3k more than I was expecting (based on Kelly Blue Book values), and about 6k more than my VW dealer had quoted me. In my mind, I was 'ing, but stayed cool.

Here's the best part of the whole thing - they offer you a fair price right off the bat, based on market value, and based on what they bought similar cars for, with no Uncle Scrooging around for every penny. NO NEGOTIATIONS POSSIBLE !!! That is the BEST part ! I HATE negotiating. I'd much rather just have them offer me a reasonable amount and leave it up to me to say yes/no. Of course, I said "I do"

I then gave them my loan account info for the car. They figured out the payoff amount, so that they could do my loan payoff for me, and deducted that from the amount they offered me. So, that was convenient for me !

Within another 15 minutes, they had printed out all the DMV paperwork, which they had me sign, and printed me a check.

The whole process took about an hour and a half, but only because it was a busy Sunday. My friend who has sold to them, on a weekday, said the whole process took 15 minutes.

All in all, I am extremely satisfied with the professionalism with which CarMax operates, and with the fact that they offer a really fair price for your car (at least for mine).

If you're looking to sell your current vehicle, which will be replaced with your new 2er, I highly recommend going to CarMax !

[MikeT]

Great post!

Very glad to hear that CarMax worked out for you, as it's been Plan A to try to sell them my current daily driver when my m235 is redelivered after ED. Awesome to hear that you got a good price because at this point I don't really have much in the way of a Plan B.

[Inline_Six]

Originally Posted by MikeT

Great post!

Very glad to hear that CarMax worked out for you, as it's been Plan A to try to sell them my current daily driver when my m235 is redelivered after ED. Awesome to hear that you got a good price because at this point I don't really have much in the way of a Plan B.

Thanks !

Glad this post helped you in some way. Yup, it's a great plan A to sell to them

[dc2112fan]

Totally agree on the Carmax experience. Had I not had a coworker offer to buy my Genesis, Carmax is where I was headed since they gave me the best offer.

[Viffermike]

CarMax is Option A if you're trying to unload a vehicle. Offers are fair for a number of reasons -- not the least of which is the fact that CarMax is the nation's largest car auctioner as well as the nation's largest car seller.

However, a caveat: if you have a clean, no-accident, relatively low-mileage vehicle, do try to sell to a dealership that sells that same vehicle brand new because it will likely become a Certified Used car. That increases its value ONLY to a dealership that sells the same brand. That's what I did with my Lexus; the dealership I sold it to -- and it was not the one I bought it from -- immediately offered me $1K over CarMax's offer, and I successfully haggled for $500 more. SOLD!

[huma]

Wait, did you sell your M235 or a different vehicle? If you did sell your M235, why? Didn't you just get it?

On that note, most dealerships will match Carmax's offer. You'll get Carmax's value + tax savings.

[Inline_Six]

Originally Posted by huma

Wait, did you sell your M235 or a different vehicle? If you did sell your M235, why? Didn't you just get it?

nah, I sold my VW GLI, coz I don't need 2 cars. The M235i will do

Originally Posted by huma

On that note, most dealerships will match Carmax's offer. You'll get Carmax's value + tax savings.

Not sure where you got this information, but it's not true. I tried 2 dealerships (BMW and VW) ... both offered me a bag of peanuts for my GLI.

[Delnari]

I can attest that CarMax in Northern VA did right by me on my car sale. Went in expecting to be upside down a couple thousand on my Kia Optima Hybrid and was shocked with they offered me within $200 of what I owed on the loan after 14 months of payments (72 month loan) and no money down when I bought it. They did comment it was the cleanest car they had seen and gave me top dollar due to it's showroom condition. Pays to keep your car in great shape.

[huma]

Originally Posted by InlineSixTwinScroll

nah, I sold my VW GLI, coz I don't need 2 cars. The M235i will do

Not sure where you got this information, but it's not true. I tried 2 dealerships (BMW and VW) ... both offered me a bag of peanuts for my GLI.

Did you ask them? and how do you know if it's not true? I didn't say every dealership would do it. If you think about it logically, when they take in a trade, they usually auction it to get their money back. Wouldn't it be easier for them to sell it to carmax if they already have the offer in hand?

How do I know it's true? I've done it before and helped a couple of friends get better trade values via carmax offer to dealership. It could be a regional thing they do down here in Texas.

When I negotiated on the trade of my last vehicle, dealership offered me nearly $3k more than Carmax. There are some cases where carmax might offer more and sometimes less. I think it ultimately boils down to the appraiser and what they think your vehicle is worth.

[Inline_Six]

Originally Posted by huma

Did you ask them? and how do you know if it's not true? I didn't say every dealership would do it. If you think about it logically, when they take in a trade, they usually auction it to get their money back. Wouldn't it be easier for them to sell it to carmax if they already have the offer in hand?

No, I didn't ask them specifically if they would honor the CarMax offer, but what you said makes sense ... they might be willing to honor it if they see that they can sell it to CarMax for that much. Didn't think about that ! I still see those greedy SOBs trying to make a hefty profit out of it, though.

Originally Posted by huma

How do I know it's true? I've done it before and helped a couple of friends get better trade values via carmax offer to dealership. It could be a regional thing they do down here in Texas.

Ok.

Originally Posted by huma

When I negotiated on the trade of my last vehicle, dealership offered me nearly $3k more than Carmax. There are some cases where carmax might offer more and sometimes less. I think it ultimately boils down to the appraiser and what they think your vehicle is worth.

I agree with this ... it does come down to the appraiser. They even told me that sometimes they offer more than dealers and sometimes less. But, in my experience, dealerships are the greediest sellers and buyers out there, and if you're not willing to negotiate (which I'm not), then you will always lose at the hands of a dealership.

So, I guess, for people like me, who hate negotiating, CarMax will always be the better option than going to a dealership. Dealerships are like my Cigna health insurance ... they always respond with "No".

[huma]

Originally Posted by InlineSixTwinScroll

So, I guess, for people like me, who hate negotiating, CarMax will always be the better option than going to a dealership. Dealerships are like my Cigna health insurance ... they always respond with "No".

I feel you on this. I hate negotiating myself. It's a time value proposition. Is your time worth the extra money you may or may not be able to squeeze out of your trade?

Time wise, it took me days to get the deal I received over the course of a month. Wasn't easy or fun. Had to go to Carmax and about five dealerships to get my trade in value. Had offers from $16.5k to $20k from dealerships and Carmax offered $17k. The difficult part was convincing the dealership I was trading my vehicle into, to give me the trade value the other dealership was offering.

Overall, I agree. I like Carmax and I sold a vehicle to them a couple of years ago when I moved. The value was higher than I expected by about 500 to $1,000, but less than what I truly wanted by about $1,000. I thought they would fleece me, but they gave me a respectable offer.

[jtzako]

I sold my 2010 Camaro SS to them with about 21k miles on it and got $25k for it. I originally paid $30K so I feel like it was a great deal, and was quite easy to do.

I may, at some point, take my 2 up there to see what they'd give me for it. (Its super low mileage but I'm not really sure how much the 2 depreciates)

[JMatt88]

My best friend worked at CarMax - DO NOT ever buy a car from them. Sell them your car, take your check and walk away. The reason why they pay more is because they avoid auction fees by not going to Mannheim.

When they price your used car, they have a formula. They check:

1. their Inventory (need for that model)
2. auction value
3. market value
4. popularity of car.

and use a 2nd appraiser to agree / disagree with the pending offer. It isn't just up to one person. It is very much a checks and balances system.




.

[W///]

Carmax works great if you just want to dump the car hassle free. I happen to hate selling cars because people low ball you way too often on forums and Craigslist. Plus they give you a week to decide whether or not to take the deal.

HOWEVER, selling private party is still the best way to go if you want to get the most money out of your car. I just don't have the patience for all that shenanigans.

[skeeedunt]

I'm strongly considering selling them my 350Z once my M235i gets here. Unfortunately my car is at 99,XXX miles and I've heard "trade-in" value drops like a rock after 100k, wonder if the same will be true of CarMax appraisal (I'll report back if I ever find out).

Originally Posted by JMatt88

My best friend worked at CarMax - DO NOT ever buy a car from them.

Not to derail the thread, but... why do you say that? I know their prices are higher than you'd pay some places, and you have to avoid their rental/fleet models, but is there some other compelling reason?

[JMatt88]

Originally Posted by skeeedunt

Not to derail the thread, but... why do you say that? I know their prices are higher than you'd pay some places, and you have to avoid their rental/fleet models, but is there some other compelling reason?

Absolutely, they rarely repair their vehicles using OEM parts. They often miss things in their "125+ point Certified Quality Inspection". When they do send a repair out for engine or transmission work, the car goes to AAMCO. The AAMCO shop isn't always the greatest and not the place i'd choose for engine or transmission work. If you're lucky enough to have the car go to an actual OEM dealer, in many cases they choose the cheapest repair possible. The OEM Dealer realizes where you bought the car and will not jump through hoops to get your car fixed, you are their last priority.

People don't sell their cars to CarMax because they are pristine and running properly. They sell them because they are problematic. The only time you may get proper treatment is if a car is still in factory warranty. CarMax will send it (for you) to the OEM Dealer. The OEM Dealer will take their sweet time with your car because you're not their customer. Two weeks later, you'll get your car back... it may be repaired properly, it may not be. So you'll start the frustration of the two week cycle all over again. Just remember I warned you....


.

[ORIGIN M.]

Originally Posted by JMatt88

Absolutely, they rarely repair their vehicles using OEM parts. They often miss things in their "125+ point Certified Quality Inspection". When they do send a repair out for engine or transmission work, the car goes to AAMCO. The AAMCO shop isn't always the greatest and not the place i'd choose for engine or transmission work. If you're lucky enough to have the car go to an actual OEM dealer, in many cases they choose the cheapest repair possible. The OEM Dealer realizes where you bought the car and will not jump through hoops to get your car fixed, you are their last priority.

People don't sell their cars to CarMax because they are pristine and running properly. They sell them because they are problematic. The only time you may get proper treatment is if a car is still in factory warranty. CarMax will send it (for you) to the OEM Dealer. The OEM Dealer will take their sweet time with your car because you're not their customer. Two weeks later, you'll get your car back... it may be repaired properly, it may not be. So you'll start the frustration of the two week cycle all over again. Just remember I warned you....


.

What you describing is normal dealer practice. Car Max owns the used car market like it or not they're here to stay. They can pay more in certain markets because they can easily move the car to anther market - they've got the transport in place and it's easy for them to do it without further cost - they are the big boys that's why they can pay more than anybody else.

Cars are a commodity in for a cleaning one they willing to pay well over book value.

[JMatt88]

Given the choice of purchasing my used Chevy, Ford, Toyota etc. at the Dealer or at CarMax, I would buy at the Dealer 100% of the time. That is what I'm saying.

[BEMR]

Did they ever ask you what you were expecting to get? Or how much do owe? Just curious.