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So just do your research, be sure you're getting a decent price. My favorite part was how they let you see everything on their computer systems when putting in financing info. The price wasn't much higher than blue book and we decided to pay more for convenience and reliability. CarMax vs CarLotz CarLotz is a private seller on steroids. He noted that in his surroundings and neck of the woods, Mustangs are quite popular. You can also cancel the warranty at anytime, like insurance you will get the lesser of time vs. miles that has been used since time of purchase. Below, we compare AutoBuy, CarMax, and We Buy Any Car — from accepted vehicles and how to get a quote to requirements for selling your vehicle and more. The salesman at carmax even said that. Do they do a thorough inspection? How does the process work with CarMax? $3k for a 70k miles on any car is insane! CarMax has worked with us and done more than any other finance company I have dealt with. If you have an altima or accord, they may give you more cause they know it will sell quickly. If they're giving you 5%, they probably got 4% from the bank and are making 1% on you. If it does, they fucked up somewhere along the line, either in the initial appraisal or the second one. Dealer y has the exact car for 14k but they bought it for 10k, giving them a 4k profit margin. If you're buying a notoriously unreliable car, the warranty can be worth it, but it doesn't make much sense to purchase for, say, a Toyota Corolla. Customer Number One. CarMax says it buys any used car regardless of age, condition, make or mileage even if you don't buy a used car from CarMax. Also, sell your car during tax time. That's just offensive. I went to a Toyota dealership to look at camrys and they were charging 18k+ for older cars with more mileage. Visit carmax.com to schedule your own appraisal and find out what you need to bring with you . I think Carmax offers more for cars they can put on their lot. Having been a manager and a buyer, the appraisal could go up if the market calls for it. I love my car and I would go back there to get another car! My husband and I never bought a car before and made payments on it. When it comes down to it, whatever they can buy your car at auction for, is what they are going to offer you. The most comprehensive and cheapest warranty is usually on dealership certified cars (think Honda/Toyota). I would still compare prices to cars of the same model with similar mileage and options listed by private sellers - I don't know how much Carmax will negotiate, but I don't like paying several grand more out of ignorance. Tags: car shopping Used Cars Carmax is usually pretty good. They offered me $13,000 which was valid for 7 days. A 2011 Camry for 14k with 38k miles. Down payments (as with houses) help get lower rates, it's a loan to value issue. I cashed the check and used it as part of the down-payment for my new, family-friendly car. Carmax only guarantees their offer for 7 days - you may have it reappraised and get the same exact number. Trade Ins: (I put already said this in this thread but i'll put it here too). OK, so I was a finance manager for Honda, Nissan and Mercedes and I'll give you a few insights which may help you. They don't even necessarily want to make money off it, cause they do want you to sell it so you buy one of our cars. Did they get the year wrong? Press J to jump to the feed. Getting a Carfax report is a pretty good way to get the car's history. The appraiser even noticed where the paint on the top of the front fenders had been blended when the hood was replaced due to hail damage right before mom bought it in 2008. A VW GTI, on the other hand, is desirable. Age: anything 10+ years older. They want that because it will get people to come look at it, and even if they don't buy it they might buy something else. By using our Services or clicking I agree, you agree to our use of cookies. Most mechanics will have that in their systems and are fine with telling you about the car. Second, carmax prices are not based on kbb, blackbook, or any other online car shopping resource. At CarMax, I was able to get $7,000 for my car, which I received immediately by check. Had the car looked at by an independent mechanic while under warranty and it was pronounced to be in good shape, with routine break work and tires needed later this year. They offered $800 for my girlfriend's Mitsubishi Mirage which we sold very quickly for $3500. With CarMax and Carvana, the buying process is streamlined and user-friendly, no matter which one you pick. They go by black book. New comments cannot be posted and votes cannot be cast. In most cases, those are pretty much identical. Scenario: Dealer x has a car they bought for 12k, they are selling it for 14k, there is a 2k profit margin. How the hell this guy/gal got a 13k offer for a dinged 2010 GTI with 55k miles is beyond me. The final finance price was 18009. carmax vs kbb reddit. However, your CarMax offer may be lower or higher than the KBB estimate because CarMax uses its own data and inspection process. KBB was first published in 1926 as a price guide with a simple list of cars and their prices. It was a 2006 Camry with ~70k miles in great condition. I don't know how much Carmax will negotiate, but I don't like paying several grand more out of ignorance. So I got a good price, but I won't say every car in the lot will do the same. Automatic wholesale. I had bought it used in 2013 at a place similar to carmax and had it for two years but I had 108k miles on it since I drive a lot. You might get less. I bought this car 6 months ago and have been looking for ways to get out of the payment. They will give you the amount they think they can sell it in their auction for. These are manufacturer backed warranties. “I recently sold a 2004 Ford Focus to CarMax. You might not have the best deals on used cars, but you have some damn good marketing. Looking at technical service bulletins for the model car you are interested in will give you an idea of what problems you might experience. This means your vehicle will go to wholesale auction, and carmax … Additionally, if the demand is low, or if it is a vehicle that tends to sit on the lot for awhile, you will probably get a low ball offer. KBB trade-in value was $7600, so I told mom not to expect over $6500 from Carmax. That can be worth it depending on what you're looking for. Short Answer: CarMax appraisals use the same general criteria as personalized Kelley Blue Book (KBB) estimates. SO EACH NUMBER IS INFLATED. If you don't know anything about cars and don't know anybody that is knowledgeable and you trust, Car Max is worth the extra money. Okay, I thought I was the only one. I'm on phone so sorry I can't post link but you should read that before going any further on this thread. Average condition Edmunds is 10,900 trade-in...12,300 private. Nobody is going to drive across town to buy a Camry. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Had a similar experience with an Accord. CarMax wants to make a profit. My theory is it's a national company so lives or dies on its reputation. I thought it'd be interesting to see what the local dealership would offer on my car after the contacted me from a KBB instant cash offer i applied for online. The car was worth about $2000, but needed over $1000 in repairs to the nonfunctional air conditioner. If it needs any repairs it would be less. It includes time, money, convenience, and many other factors. In fact, appraisers are judged based on how accurate their offers are (read, close to as fair as possible). If you own your car free and clear, sell it on your own. That's a bit outside the age of car they want. My next vehicle purchase will probably be through them. I sold a car not too long ago. You can purchase a warranty AT ANY TIME. ... RepairPal, Kelley Blue Book, Edmunds, CARFAX, and more. Our professionals KBB for their wholesale Review: Is CarMax a like following the ‘money probably moved the page Truth About Cars and search around and find around and find the to make your experience find what you are car dealers don’t use cars and answering all used car stores across is … Used 2014 Toyota Corolla LE for Sale on carmax.com. That's because there are a billion camrys on the road, and nobody really wants them. Because both companies are less than a decade old, Reddit users theorize that Carvana and Vroom offer high prices to gain new business. I sold privately and got double the price. Most used warranties do not cover electronics (including the cpu that runs your car) READ YOUR WARRANTY BEFORE YOU PURCHASE. Check car prices and values when buying and selling new or used vehicles. These criteria include the vehicle’s history, current condition, make, model, year, mileage, and desirability in the market. Like if buyers don't know to ask about something like floor mats, or if there are popular cars best avoided? What trends do you see from buyers that are bad ideas? ALWAYS DO THIS WITH ANY CAR YOU BUY. There are also companies that will sell warranties for cars you bought from outside of a dealership, they tend to be more expensive. The main thing to know about Carmax is that you do pay a bit of a premium for streamlining the shopping process. Within a day I got a cash offer for $6800 and had the car sold. I'm very happy with the car, and after all the initial research and discussion, the total time spent test diving and purchasing was about 5 hours. As a former employee, allow me to explain what happens, and why you're getting the price they are offering. Carmax sets the offer based on a few factors, including: Mileage: carmax does not retail cars with over 130,000 miles. CarMax will cover your rental car up to $40 a day for 7 days while it’s in the repair shop. The cost of the used car varies by dealership so two dealerships might have the same car at the same price (usually retail KBB value) but one might be able to negotiate more than the other because they bought it for less (or it was a paid off trade in). Join our community, read the PF Wiki, and get on top of your finances! When shopping at a CarMax store, simply tell a sales associate that you'd like to take the car of your choice for a 24-hour test drive. Second, carmax prices are not based on kbb, blackbook, or any other online car shopping resource. And they didn't even try that hard to up sell the extended warranties after a firm no. I had a 2007 Scion tC that KBB trade-in said was $6200. Bought it on the spot, paid cash. I could be wrong but I thing that is the thing with Carmax, they don't negotiate. Press question mark to learn the rest of the keyboard shortcuts. Kelley Blue Book told me my car was worth anywhere from $6,000 as a trade-in to $8,000 via a private seller. They gave me $1000, and I was happy with that. Press question mark to learn the rest of the keyboard shortcuts. You can compare every single model of car you're looking for at one place. Ended up going with the Dealership for a slightly lower price but most days I wish I had gone with CarMax. CarMax is an absolute powerhouse when it comes to pre-owned vehicle retailing. I am writing because I searched everywhere looking for carmax second appraisal advice and couldn't find it. Just getting my feet wet looking for a car for my gf. Posted on craigslist, but no takers so I took it to Carmax for an appraisal. Carmax doesn't negotiate on their cars so they could be making 1k or 5k off of you. This is also how dealerships are able to pay off your car that you owe more than it's worth on. They also want to give you good amount to spend on one of our cars. I bought a Saturn from them and it was exactly what I wanted. So they are now -1k if the sell you the car and give you want you want for your trade in, they won't make that deal. Once you’ve purchased a vehicle, consider Dealerships have a cost and can sell the warranty for up to a certain price (set by the financial institution). Decisions like this can question lots of things.

A free oil change comes with every purchase. Same here. Kbb is 12,500 trade-in... 14,200 private. This includes from the dealership, however the only time you can finance the warranty is at time of purchase otherwise you're paying cash (or credit card) for it. Just glancing through the replies there are a lot of assumptions and misinformation about how the car selling process works at carmax. This takes around 30 minutes, after which you'll get an offer good for 7 days at any CarMax location. When comparing CarMax vs Carvana vs Vroom sales models, CarMax is the closest to a regular car dealership, having multiple locations throughout the country. The same goes for leases and money factors. Same deal as mileage. Does anyone have experience with both extended warranties from both companies? Or a season or time of the month it's best to go in if ready to lay down some cash?

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