CarMax - Low Balling Trade in

Visitor Review: They say CarMax doesn't lowball on trade in appraisals...BULL!

Took my 2006 Limited Expedition with 41K miles and in excellent condition to Irvine Carmax to see what they would offer me if I found another car that I liked.

I already did research on trade-in value with KBB. The spread was $24K for Excellent condition and $20K for Fair. Being somewhat realistic, I figured that the offer would be at the low end of the spectrum, maybe even a $1k or so less.

While waiting for the appraisal, I checked out their website to see what the current inventory was and going prices. For a 500 mile radius, there were only 9 cars with the same trim level/options. They were asking anywhere from $24K with 65k miles up to $29K with 32K miles.

The salesperson came back and basically was trying to sugar coat the appraisal process as if she was embarrassed to even tell me the number.

That was my first red flag.

Then she explained that having new rims and tires on the vehicle would lower the price as well (really?) That was my second flag. The appraisal came back at $13K.

As I thanked her and got up to leave she asked me to wait while she got the appraiser to come and explain why the appraisal was so low since I'm the 2nd owner, she was concerned that I should know what's going on with my car just in case I decided to sell it private party (?)

The appraiser took me back to the garage and showed me that it looked like there was either a push bar or snow plow attached (we're in So Cal!!) because there were holes drilled into the main frame area and what he thought were old marks on the frame. The holes looked like factory to me but I'm no expert. I asked him how they could attach anything without drilling through the front bumper and grill and he said they probably replaced the bumper after removing the attachment. Sure. Oh yeah, he also said that they would have to replace my new rims and tires as well.

I felt like they thought I was trying to swindle them! The next day I went to the local Ford dealer and had the service manager take a look at the frame because at that point I thought maybe there was something wrong. He looked and laughed and said that there was nothing wrong at all and that the holes ARE done at the factory!

So as far as I can see, CarMax was trying to make over $10K on my car. Yeah, tell me they don't lowball.

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CarMax is Full of Smoke

by The Comptons
(Anderson, SC)

Visitor Review: My Wife and I walked on the CarMax lot after driving 2 hours to the location.

We were UPFRONT unlike CarMax. We had some credit concerns and we asked if it would be an issue. The salesman gave us a list of what to bring we did that and then we got another list we did that and on and on and on...

Finally when we had had enough the last thing we supposedly needed was a copy of my driver license, Geico had added full coverage insurance and the bank had agreed to the loan.

We had been at the dealership several hours and guess what? $260.00 in hotel bills, $60.00 in gas and 2 days later we have the same car and they have their car.

My only suggestion to future CarMax buyers is to take a week or so off work, pack a lunch and get ready for the long haul and until they take the cash you don't have a deal, so don't get that sweethearts hopes up!

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Never, Never, Ever go to CarMax

by Anonymous Visitor

Visitor Review: I thought buying a car at CARMAX was supposed to be easy. The kids were misled and misunderstood. A salesman named Ben and the other guy they had today didn't bother to be sure that they understood the sales tax not being able to be included in the financing.

He assumed that they understood that because they had a Cali address, (even though they only had it because he is USMC), they would have to pay Cali taxes and that those taxes wouldn't be included in the loan.

They only had $3000 and they put all of that down on the car never dreaming that Cali taxes could not be included in the financing...even the finance guy RJ didn't bother to explain, it was a total cluster. We were there for 7 hours (yes, SEVEN HOURS) trying to get things right.

If I would have had my way, I would have cancelled the deal and gone elsewhere. Thanks to his grandparents, everything was taken care of. I WILL NEVER BUY A CAR FROM CARMAX AND I RECOMMEND THAT EVERYONE STAY AWAY AS WELL. I can't say it enough; NEVER, NEVER, EVER GO TO CARMAX.

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CarMax Lowballed My Car

by Randy
(Aliso Viejo, Ca)

Visitor Review: I took my 2006 BMW 750LI with 74,000 miles in for appraisal at CarMax. It is white with the sport package, one of the most desirable combinations.

The car is in EXCELLENT condition. Interior is like new, it was clay barred and waxed every 3mo. All services done on time by dealer. Clean CarFax with no accident or repair history.

KBB and NADA give the wholesale trade in value at approximately 28,500. The black book auction value is 24,500. A Toyota dealer offered me 25,500 on trade (first offer), 300 under invoice on the new car, and 1.9% financing.

CarMax offered me 20,000 even! They have 2 other 2006 750Li's on their website, similar miles, not as desirable color (black and blue) and they are asking 29,899. (and remember, no negotiating allowed with them).

Even if they somehow had to spend 2000 in reconditioning and marketing (and I'm being very liberal here), they still would have made a 7899.00 profit.

Complete and utter waste of time going there!

I ended up getting 27000 at another Toyota dealer and same deal as above.

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Car Max is totally BOGUS

by Loran G.
(Annapolis Maryland)

Visitor Review: I purchased a car from CarMax 3 weeks ago today. As of today the car has been towed back twice.

The first time the car would not move and when we had it towed back to CarMax they said they could not find anything wrong with it, they said they flushed the fluids, test drove it and somehow they got it to move again.

We picked up the car and three days later had the same problem. Again it was towed to CarMax and surprise the clutch was gone on the car. That was a week and a half ago and I still have not received the car back.

I received a phone call a week ago on a Thursday telling me my car would be ready on Wednesday and all week long I have received phone calls telling me that the repairs were on schedule for the car to be ready on Wednesday.

On Wednesday, I received a call that the car would not be ready until the next day (Thursday)...Surprise!!! It's Thursday and I receive a call that while making the repairs they found that the engine mount was broke and they would have to order the part and it would not be ready until Monday. I am livid.

Where we could have a loaner car this car is my 17 year old sons who can not drive a loaner car, so he would have to drive my Brand new 2010 car which is not an option. So much for their so called inspection on the cars. I don't believe they checked anything.

Needless to say I would never recommend buying a car from CarMax. I regret ever walking in their doors.

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CarMax "No haggle pricing" Absolute nonsense.

by Gabriel

Visitor Review: CarMax and their No Haggle Pricing is nonsense. I was about 24 years old when I went to Carmax to sell them my car, I ended up trading it for one of theirs'.

I checked for my car's value and their offer was about $200 more then I'd expected, more than fair.

It was when I went to buy one there that I should have known better. I kept hearing "no haggle" the whole time I was there. So, I took it to heart and like an inexperienced car buyer, I bought it at sticker price because they have "no haggle pricing" so you can trust them... right?

Anyway, I get home and I got curious about the price of my car, it's a 2001 Honda civic EX. I financed it for $14,000, my curiosity got the better of me and I KBB'd it. My jaw hit the floor. It was worth half that!

Their "no haggle pricing" cost me an additional $7,000 that I should never have paid. I've been paying on the car for 4 1/2 years and I've been upside down in my loan ever since. I only JUST got it down to what it's worth (and only by $25).

I made a huge mistake in trusting them. Now that I'm not upside down anymore, I've been late on my payment and they are threatening to repossess in 11 days if I don't pay them $617.

It would seem that they wanted me to stay upside down for as long as possible, repossess, then sell it again at a highly inflated price to another uninformed, young buyer.

I really hope my experience helps someone out. DO NOT TRUST CARMAX "NO HAGGLE PRICING"! I can't express that enough. Do your research on the going rate of the car and go in there ready to fight.

Please by under no circumstances buy their crap like I did. I'm about to get married and this car is draining all of my money that I should be putting toward the wedding. Please buy more wisely than I did.

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Unhappy CarMax Customer

by Michael J.
(Lexington KY)

Visitor Review: I recently sold my 06 Ford F150 to Carmax for $10500 which i thought was a good offer. I also purchased an 08 Toyota Tacoma for $15599. You have to really be careful with the paperwork because they fly through explaining things to you.

I have the Maxcare extended warranty which I thought had the $50 deductible and come to find out it is $300 deductible. I was so pissed when I found that out. Right after my 30 day warranty is over I start hearing brakes squeaking. The service manager said he would check it out and fix them for free but I am having my concerns about it.

After this brake situation is fixed I am going to cancel the Maxcare warranty because I feel like I was tricked into getting it with a $50 deductible when it is actually $300.

I thought everything was smooth with CarMax at first but now I'm not so sure. This is my first experience with CarMax and I am sure it will be my last.

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CarMax Lowballed My Trade In

by Eddie A.
(Pomona, CA)

Visitor Review: We were looking to buy a smaller car back in 2006. We had a 2001 Lincoln Navigator, which we paid 18,000 dollars for just 2 years prior. It had new expensive Chrome rims and tires.

Since it wasted a bit too much gas, we thought we'd go to CarMax and see how much we could get for it as a trade in.

Well the minute we get there, they take us and show us their inventory. We found a car we liked, so we went back to the office and we told them we wanted to see how much we can get for the Lincoln. When they came back with 4,000.00, I said to them, are you guys crazy? The rim and tire package is worth close to 3,000.00 alone!

Needless to say, we walked out of CarMax and were able to sell the car on our own for 10,000 dollars.

Car Max takes your car, they make it look real pretty and turn around and make 2 or 3 times what they give the owners for their trade in. So the car you are buying and paying a lot for, probably came from one of those trade ins.

I am so pissed off at them, I will never buy from them, its an assembly line of sales people, they get your car, sell you someone else's, sell your car to someone and make a lot, and then spit you out. CarMax you guys suck.

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CarMax Numbers vs. the Real Value
(Selling to Carmax)

by Anonymous Visitor

Visitor Review: CarMax offered $13K for my vehicle. It was in excellent condition, and they agreed/marked all inspection points as excellent as well.

The Blue Book trade in value (which is less than all other value types, retail etc. of Blue Book) was $15,400, which was very close to what I owed.

I knew I could sell it between $18K-$19K from the many similar vehicles at the Autotrader website. I was disappointed to see that they'd like to make $5K on a $18K vehicle.

I was hoping Carmax to be a better alternative to regular dealers, but they fell $2400 behind their closest competition. Any dealer would buy it for at least what I owed, being at showroom condition with only 11K miles.

At those numbers, selling to them would only be a choice better than dropping the keys to a homeless person, and walking away.

The attitude was professional, the place was clean, and they were straight forward at every stage of the deal. The numbers were so off, I walked out in a minute.

Seems it's any dealer USA, but a nicer image with a higher profit margin.

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Mustang 2004 Bought From CarMax

by Alejandro
(Huntsville, Al, US)

Visitor Review: I bought a 2004 Mustang V6 from these ruffians... Worst thing I could have ever done.

- I was eager to buy the car "My Mistake" which made me sign fast. I did not look through the options properly and it stated that the car had cruise control on it... when it didn't... I went to them a few months afterwards to claim it but they told me that they would charge me an extra $200.00... an extra $200.00!!!

After they overcharge you for the regular car, they charged me for the features, they wanted to charge me again!

- The clutch was worn out, the engine had lost horsepower that could not be fixed with any gas cleaners, treatment or filters. The Rack & Pinion had to be replaced because I was having problems steering too. Which turns out that the power steering pump was damaged too.

When I went to complain about the clutch, the idiots told me it was engine sound... the clutch.

These ba***rds know NOTHING about cars, they just rip you off and get over on you with their overly expensive price... They did not help me with the clutch problems since they told me the car was... "fine"... I found out I paid their no haggle price for $3,000 more than what the car was worth... please don't fall into their scheme... please...

- Please, don't buy from them... do your research & look for another used car.... But they charge you extra for doing something they don't do... which is inspect the car...

- I implore you to go somewhere else, don't give into their hype, they will RIP you off...

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