Are CarMax Cars Overpriced?

Is 10% off MSRP a good deal?

10% off MSRP is probably what most users on this forum getting a good deal end up achieving.

Having said that, you should probably start with asking for 12% so you can ideally get 10% or maybe more..

Is CarMax better than a dealer?

If you want a no-pressure, no-hassle and low-risk car-buying experience, CarMax can make that happen. However, if your primary goal is to get the best price on a used vehicle, and you enjoy the art of negotiation, you may be better off buying online from a dealer or a private seller.

Does CarMax have hidden fees?

Not all CarMax locations charge a dealer fee; about 50% of the CarMax dealerships we contacted said they do not charge a processing fee or a dealer fee. … One may also ask, does CarMax charge extra fees? for new and used cars, and very non-negotiable. Carmax does not charge any dealer doc fee for used vehicles.

Does CarMax pay hourly or commission?

Commission based only pay means there are days you work and make ZERO DOLLARS A DAY.

Does CarMax give good appraisals?

Many of our customers come to CarMax for an appraisal as a starting point. “One reason our appraisal offers are good for seven days is because we know our customers may want to ‘shop around’ and compare other offers to ours,” says Marcey. “And that’s okay!”

Why is CarMax more expensive?

Here’s Why CarMax Makes More Money On Used Cars Than Anyone Else. … The truth is that CarMax cars, on average, are not any different than any other used car that you would find at a major dealer. CarMax gets their cars from trade-ins and auctions just like most dealers.

How do you talk down a used car price?

Make a Reasonable Offer and Stick to It Once you’ve picked a car you like, make the dealer an offer. Tell them that if they can hit that figure, you’re ready to sign on the dotted line. Be sure to let them know that you’re not budging. Be polite, but firm.

How do you outsmart a car salesman?

20 Ways Every American Can Outsmart Their Car Salesman1 Show up with a good attitude.2 Don’t engage in the waiting game. … 3 Consider leasing before you buy. … 4 Shop for a less popular model. … 5 Try to use your banking rewards programs. … 6 Be sure to check the manufacturer’s website. … 7 It’s better to pay in cash. … More items…•

Does CarMax offer more than KBB?

Does CarMax offer more than KBB? A lot depends on your vehicle. There is no cut and dry answer to this as you will have to do some investigative work on your own. CarMax is indeed the biggest seller of used cars here in the country.

Can you negotiate price with CarMax?

CarMax’s brand is synonymous with transparency. The retailer has a no-haggle policy for used-vehicle prices and trade-in offers. CarMax gives free, no-obligation valuations and offers consumers a price that’s good for seven days.

Why you should never pay cash for a car?

That is because credit card debt is unsecured, and a car loan is secured with the product that you drive off the lot. … A person who bought cash for their car, may be using their MasterCard for grocery shopping and bleeding money in interest rates each month, even if it’s paid on time.

Does CarMax take cars that don’t run?

CarMax will purchase that non running vehicle, but don’t expect a large sum of money. Chances are that your non running car will be sold in an auction. With their extensive appraisal process, you can count on making some money from the sale of that car.

Does CarMax pay more than dealers?

Carmax, of course, would then try to sell it for more — probably closer to the $10,000 retail price, netting them a tidy profit. A third price type, private party value, applies when you are selling a car directly to an individual buyer rather than to a dealership.

Which is better CarMax or Carvana?

The biggest difference between CarMax and Carvana is that CarMax has physical lots spread out across the country. That means that you can shop local inventory in person and even test drive cars. On the flip side, it also means CarMax has more overhead than Carvana, which could translate into higher prices.

Does CarMax pay more for cars?

Because Carmax can get the premium return along with a seller fee of about $165 for each vehicle sold, Carmax can pay more for certain cars than other dealers.

Does CarMax give a fair price?

While the CarMax offer isn’t as much as you might get by selling it to a private party, selling it to the used car chain offers these advantages: It eliminates the expense of advertising your car and the hassle of showing your car to strangers. CarMax prices are usually higher than those that a dealer offers.

Does CarMax lower prices over time?

That said, the biggest factor that CarMax considers when pricing inventory (cars for sale) is time on the lot – like any dealer, the goal is minimize time sitting on the lot.

Are CarMax cars certified?

Every car we sell is CarMax Certified, which means no flood or frame damage, and no salvage history. In addition, it means a car has passed our 125+ point inspection and undergone a detailed reconditioning process.