If you've made it to our final section in the review, then let's talk about four ways that you can save buying a car from them.
I personally feel that the vehicles you'll find on CarMax.com and the company as a whole offer some great benefits. They offer excellent customer service and convenience for car buyers, but (in my opinion) they are a little pricey. Here's what you can do to reap the benefits while maximizing your savings...
- Sell your trade on your own
This isn't always possible for all customers, but if you have the time and the means to sell your trade in private party you'll stand to make much more profit.
This is not only true with trading to them, but with any dealership for that matter.
- Arrange Your Own Financing
If you can arrange your own financing you stand to eliminate any additional dealer profit from your deal.
Even if you get pre-approved on your own, you can use this as leverage at the dealership to see if they can beat your approval.
FYI: Take a look at up2drive.com
(a division of BMW Bank of North America), as they typically have some of the best prime rates going. They finance most all makes and models.
If they can beat your auto loan approval with either better terms or rates, then by all means use their source. Even if they profit some, you're still saving money in the long run.
You can click on either link to read my prime lender review and/or compare current bank auto loan rates.
If your credit is not so good, then take a look at my bad credit auto loans page for tips to get approved and you'll find several great places to apply for your loan.
- Price Aftermarket Warranties Online
You'll probably want to price some extended warranty quotes online prior to getting quotes from the dealership.
Only downside to this is that you more than likely won't be able to include this in your financing. However, most warranty companies will offer 0% financing for terms up to 24 months.
Definitely do your homework and make sure they are insured by a company with at least an AM Best A- rating or better. You definitely don't want to get mixed up with some fly by night.
- Shop Smart on CarMax.com
By shop smart I mean that you'll want to browse their inventory and when you find a vehicle(s) that interests you, then take the time to find the used car value for that vehicle.
Use guides like Kelley Blue Book or NADA and be sure that the vehicle is not listed for more than its retail value. Sometimes the vehicles you'll find on CarMax.com have been on the lot for awhile and the used car value has dropped below what they are asking for it.
Since they do not negotiate sales prices these are the vehicles to avoid buying!
