Is Carmax The Best Place To Buy A Car
For more details on factors that could affect expectations, see our Annual Report on Form 10-K for the fiscal year ended February 29, 2020, and our quarterly or current reports as filed with or furnished to the U.S. Securities and Exchange Commission. Our filings are publicly available on our investor information home page at investors.carmax.com. Requests for information may also be made to the Investor Relations Department by email to email@example.com or by calling (804) 747-0422 x7865. We undertake no obligation to update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.
is carmax the best place to buy a car
I found a vehicle on their website and drove down to their store in Urbandale (Des Moines) to check it out. Found it just as described, other than a small defect that the SALESMAN pointed out to me. Said they would take care of it, no problem. Drove it, loved it, bought it and drove it home, full tank of gas included! Got a call a week later to set up the appointment to fix the issue (a tack weld on the fuel filler door hinge was broken loose). If you love to haggle, this isn't the place for you. If, however, you just want to know you're getting a fair price and that you will be dealt with as a fellow human and not just "a sale", then this is a GREAT place to purchase a vehicle.
First, a big shout out to Wayne, at the Edison New Jersey CarMax! I bought out my 3-year lease, 2019 Kia Optima Turbo. 5,000 MI and in excellent condition. Got a lot of offers from other places, but some of them were ridiculously lowball, KBB & Edmonds use dealerships and I despise sleazy dealerships!! I did initial research a month before actually selling it. The best offers were from Carvana and CarMax.
I had been looking at replacing my 2003 Honda Toaster (Element) with a newer AWD vehicle. I really liked the Nissan Juke. The problem was there were only 3 here in Spokane, WA. All of them needed to have work done on them before they could be drove for a test drive. Also none of them were the high end SL model. I found a one owner with 94K miles at CarMax in Oregon. I paid $99 to have it shipped to the Spokane CarMax. It took less than a week to get here and be ready for a test drive. I bought it and later I kept hearing a popping noise when I would start out and turn right. I called CarMax service, took it in and they replace the front struts. At no charge to me. It was covered under the 90 day warranty.
Another 6 months go by, my car had been registered for several months, payments made, I put my tax return towards my car payments to get ahead, and a tow truck is taking off with my car. I call my lien holder to ask what was going on, they said my car was paid off. Carmax had bought my car back from them! I call carmax, I am on hold for at least an hour, customer service doesn't have answers. They say they would transfer me to the financing department. They don't know anything. Transfer me to the Springfield, MO lot. They don't know anything. I get back in touch with customer service and they finally transfer me to the business office in Virginia. They tell me they have been trying to reach me by mail for months. LIES!
They tell me they repossessed my car bc my lien holder was not on my title. I email them a picture of my title AND registration proving my lien holder was on them both. They change their story! The mileage had not been submitted correctly when I registered my car months ago. A mistake, apparently, the DMV had made, but I had to suffer the consequences for it! They won't give me my money back and the car I traded in over a year ago is gone. Carmax expects me to get an entirely new auto loan for my car and pay sales tax. Again! None of this was my fault, carmax sold me a vehicle with a bad title and expects me to buy it back so that I can go through the trouble of "fixing" the title. I have hired a lawyer and I want my tax return back that I spent paying ahead on my payments. DO NOT PURCHASE A VEHICLE THROUGH CARMAX. THEY WILL ILLEGALLY SELL YOU A VEHICLE THEN BUY IT BACK TO COVER THEIR OWN SKIN.
Ah, car shopping. Maybe you need to replace your college beater, treat yourself to something nice under $30,000, or even indulge in a second, fun car. Regardless of your shopping goals, you have plenty of options ahead of you. You could buy from trusty Carmax, trendy Carvana, an old-fashioned dealer, or even a private party off of Craigslist or Autotrader.
Where to buy your next car overview
How to find cars online
Should you buy from Carvana?
Should you buy from a dealer?
Should you buy from a private seller?
Should you buy from Carmax?
Where to buy your next car overviewCar Buying OptionBest ForEdmundsResearching car brandsCarvanaConvenienceDealerBuying a new carPrivate SellerThe best possible dealCarmax Test-driving many carsHow to find cars online
Selling the car yourself, through an ad placed on a site like craigslist, is the best way to get the most money for your vehicle. The reason for this is simple: as we noted above, the values for private party sales are higher than those for selling to a dealership (i.e. wholesale or trade in values), typically by a few thousand dollars.
A less-than-perfect credit score can be a barrier to favorable terms on financing products, including auto loans. Fortunately, even if your credit history has some blemishes (think scores below 670), you still have plenty of car loan options. And comparing those options is key to getting the best deal you can.
Who's this for? myAutoloan is an excellent option for borrowers with bad credit who want to shop around for an auto loan to get the lowest rate possible. This online marketplace matches car shoppers with lenders based on their needs and the information they provide.
The process is fast and convenient. To start, you'll need to fill out a quick confidential form. You can add a co-borrower or co-signer, which might help you get more favorable terms. You'll then receive up to four prequalified offers you can choose from. Prequalification doesn't impact your credit score, but the lender you'll decide to go with will place a hard inquiry on your credit once you apply.
You can prequalify with a soft credit inquiry and also have the option to add a co-applicant. Once pre-qualified, you can compare offers from multiple banks and credit unions to pick the best deal. If you decide to move forward, the lender will do a hard credit check and review your documents for final approval. This process might take up to two days.
Typically, October through December are the best months to buy a car as you're more likely to find discounted offers at the end of the year. Plus, December's year-end sales provide the potential for even greater savings.
There are a few options out there to sell you non running vehicle. The most obvious option is sell your car for scrap. They will often pay you a set amount per pound based on the weight of the car. This usually results in a few hundred dollars or so for the vehicle. This is the quick and easy option for vehicle disposal but certainly not the best.
Regardless of the age of the vehicle, we again found that Carmax is the best bet for a seller looking to get top dollar. The difference in offers is particularly pronounced for vehicles produced in the last six years, as well as those from 2009 and earlier.
While online car dealers like Carvana will give you an offer online without seeing your car (though they can change their offer if your vehicle is different from what you described), CarMax requires you to bring your vehicle to their locations for an appraisal. You can schedule an appointment or you can just bring your car into your nearest CarMax location. It is recommended that you clean your car beforehand. While professional detailing is not necessary, you should do your best to remove all stains and make your car as presentable as possible.
When you take your vehicle in for an appraisal, the salesperson will bring your vehicle to the in-house team of appraisers. The inspection process will take around 30 minutes and you can browse the inventory on the CarMax lot or wait in the waiting area. The appraisal team will give you a written offer that is good for seven days, which will allow you to shop around for a better offer or to secure your replacement vehicle. Keep in mind that this offer is non-negotiable.
This brand experience is similar to McDonalds. When I was young and on family road trips, we always stopped at McDonalds. McDonalds might not be the best food option in town, but you know it's good and you know what you're getting. Customers know what to expect at CarMax.
NOTE: DamagedCars is not affiliated, associated, or otherwise connected with CarMax. The content above is accurate to the best of our knowledge at the time the article was written and published.
Laura Berry has experience as a licensed producer selling life, health, and property insurance coverage for both Allstate and State Farm. She has dedicated many hours to helping her clients understand the insurance marketplace so they could find the best car, home, and life insurance products for their circumstances.While she currently helps businesses take advantage of the federal R&D tax...
Operating as an online marketplace that specializes in buying and selling used cars is Shift Technologies. The base of operations is located in San Francisco, California. Currently, this company can be accessed by customers living in California, Oregon, Texas, and Washington. 041b061a72