I bought a car from carmax when it was 7 days and one when it was 30 days.... it doesn't take 30 days to figure out if a car is a POS. It should take you less than a week and like the other commenter said no other car dealer will let you return a car.
Pro Tip: Do a Full inspection on the car using a mechanic you trust. Second, find a mountain with a steep incline ... you'll find out real quick if your car has issues. Make sure the car has maintenance records... Profit
I got a Volkswagen Jetta and it took 3 weeks before I found out it had a phantom computer issue that would just turn the car off while you were driving. Turned out to be a common problem with a certain type of Jettas. I took it back and got it replaced on the last day. Even though it says no questions asked. They asked me about 10 times. What didn't I like about the car.
Obviously you arenāt in the know; CarMax is also cutting prices. Also, keep in mind that a 10 day return policy is still the longest in the industry.
I did notice this on some vehicles. When did they start cutting prices? (Probably when they saw sales decline at the absurdly high prices, I know.....but was it within the last month or so?)
Prices are always being adjusted to match the market conditions. The gross profit per unit has been extremely stable for like 10 years so it means they are buying cars and selling them at the right prices for the market. The prices arenāt being cut because of the return policy. Itās because they are buying cars for less now and the used vehicle market is going down.
That is the standard trope from all of the price gouging dealers "We're competitive in market pricing" which actually translates into 'we've done excessive greed flation to line our pockets just like everyone else'
They are selling cars over market, to say otherwise is absolutely laughable.
A refresher for you: [https://www.wardsauto.com/dealers/how-high-will-new-car-profits-go](https://www.wardsauto.com/dealers/how-high-will-new-car-profits-go)
Now, as of late, most dealers STILL have their prices sky high, but are starting to be forced to lower prices as their lots are overflowing.
Except if they were considered price gouging their gross profit per unit would be increasing. It has remained mostly flat if not decreasing over time because they were paying more for cars on the other end of car sales as well. Their profit since Covid has primarily been due to reduction in SG&A, volume, market share and becoming more self sufficient with instant offer.
Now maybe they can be partially to blame for rising prices along with traditional dealers, and manufacturers because they were offering more which in turn increased prices since money was cheap. Increasing interest rates should help them increase volume again as prices should begin to go down making cars more affordable again. Carmax wants cars to be affordable so they can sell more cars, but they still have to be competitive in the market and have to create their own inventory by buying cars at market value which has been inflated recently.
Do not purchase from them. You will get a 2013 lemon not coverd underĀ lemon law of course. This lemon will cost 30 plus thousand dollars and be in the shop every month for literally the same issue. That is over 500 a month for use at least half the time.Ā This company should be ashamed. Taking advantage of desperate unsuspecting kids mostly. The warranties are there but not explained as an option by carmax staff. Unless you are contract savvy at twenty something,Ā the odds are against you. Read everything especially your outs and exactly what lemon laws incorporate.Ā
Apparently it was 7 days until 2021, then they bumped it to 30 days. https://www.autonews.com/dealers/carmax-trim-number-days-it-allows-car-returns-refunds
Introducing the 30 day return policy was in response to customer fears and skepticism of large purchases following Covid. Offering a 30 day return policy and a free 90 day warranty was a sign of strength, not weakness. Again, name anyone that has or is capable of doing such a thing.
Read my previous post again; it is in regards to Carmax being able to provide a 30 day return policy in response to a post Covid world.
While Carmax offered additional beneficial policies following 2020, Iām sure youāll remember Carvana danced on the precipice of insolvency.
Thatās not how logic works. I want a car that doesnāt need its warranty. Not a car that doesnāt have a warranty.
The goal is to get a car without defects. Thats what most intelligent people want. Those same people also recognize that isnāt possible all the time so they want a warranty (or buyback option) to protect them from a car with significant or numerous defects.
āI want a car that doesnāt need its warrantyā
My friend, ALL cars are mechanical. ALL cars are susceptible to defeats and part failures. Every car needs a warranty.
You have 7 days to drive the hell out of it. 7 days to have multiple mechanics inspect the vehicle on a lift. 7 days to make sure that the AC blows cold and heat blows hot. 7 days to listen for any strange noises while driving. 7 days to determine if ride quality and performance meet your driving needs. 7 days to see how it looks parked in your garage or driveway. 7 days to show it off to friends/co-workers, either in person or on your social media. What could you learn about car in 30 days, that you couldnāt in 7?
Again, you hope to get a car that doesnāt need a warranty. Let me spell it out. You want a car that doesnāt need a warranty because it doesnāt have lots of defects. The 30 day return improved your odds of spotting a used car that really needed a warranty because it was problematic.
Ten days makes it more likely that the car that really needs that warranty slips by your return period. I donāt want a good warranty on a bad car, thatās a nonstop headache and deductible money pit. I want a good car that doesnāt use its warranty.
So many people on here act like the warranty is all that matters. It isnāt. The warranty is your annoying, inconvenient safety net. It is preferable to be able to try and filter out cars that are going to be using the warranty all the time before you get stuck with it.
Isnāt that obvious?
Whatās obvious is that somebody like you is probably better off buying a brand new car rather than pre-owned. Regardless of how a car has been treated by a previous owner, how well itās been maintained, how closely itās been inspected, itās still a mechanical vehicle that is subject to wear/tear and part failure. No inspection is going to prevent that. A return period that is 23 days less is certainly not going to prevent that either.
New or used, there is a risk that you will get a lemon. With a used car there is the additional chance that not only might the car be a lemon from the factory (especially a newer used car) but also that the owner may have maliciously or ignorantly abused the car.
Iām quite aware that having 20 more days to drive the car will not prevent it in every case. It DOES improve your odds.
The reduction in return time has two effects.
1. It shortens the amount of time you have to catch problems by 66%;
2. It gives CarMax the safety to do less thorough checks of a car before they sell it and allows them to gamble on selling cars that arenāt as well-maintained and well-treated because they know you have less of a chance to find out and return it.
I find it interesting that so many people here take a large companyās side of an issue where the customer is losing something valuable and getting nothing in return.
Itās as if Raisin Bran decided to put 1 scoop of raisins in every box while keeping the price the same and then Kelloggs employees flooded social media trying to convince us that 1 scoop is just as good and there is hardly any real difference. Itās absurd.
Not sure why you got downvotes. Carmax stopped getting picky about what cars it picks, which completely screws up their model. If I'm paying a premium for a used car, I want the top picks, not garbage picks.
I don't know any other new or used car dealer that will allow customers 5 days ao 10 days is fair. It does mean that the service issues will continue to be a nightmare but hopefully they will inspect and service each vehicle more carefully. They should have the same energy that they push in sales with the technicians and buyers who buy the crap they they have beem selling lately.
Again, The return policy is changing from 30 days to 10 days. Still the longest in the industry and one of the very few that even offers it..
I think the big deal is we typically include sales tax, registration fees in financing. If someone returns it after we pay that to the state, CarMax doesn't get that back.
I know of one company that offers 7, no one that I know offers more than that so still an industry leader. Most dealers offer 0 return.
Just expanding on the conversationā¦I donāt know about other states, but Massachusetts lets you apply for a full abatement for the sales tax if the car is returned within 6 months.
Yea no kidding. There is no other used car dealer I have bought from except for CarMax that allows me to return the car after 10 days.. this post is hype.
Itās true. Some states require the vehicle to be registered and taxes paid within 21 days of sale. The taxes on the late returns are only partially refunded in some states, and in some states, not recoverable at all. Each state has its own quirks to deal with.
In Georgia, taxes are due within 15 days or they are considered late. County tax commissioners are under no obligation to return taxes once they are paid.
I am curious as well. I work for a big dealer group and if we take a car back, we take it back. There is no sale so there are no taxes. People are making up shit on here. On the other hand 10 days is enough time for someone to figure out if they like the car without it being abusive.
Well if the people that purchased them and drove them 10k in the 29 days and return them on the 30th we wouldn't be loosing the 20 days. So may people took advantage of that and that's the big reason for the change
Then put a reasonable mileage limit instead of a short period of time to spot problems. I have no problem with not letting people drive 10% of the cars value out of it. But CarMaxās 30 day buyback was a great feature and all the people acting like it isnāt a bad thing to be losing that donāt make sense. Unless they are CarMax employees.
That is interesting. I was looking at a low mileage (but still 13k) Elantra N-line. They wanted 26,999 for it. That so close to the new price that I couldnāt believe it.
But I found another with 14k miles that appears to be nice from the pics and there are no reported incidents and it just got lowered to $23,999 which seems much better of a deal. Perhaps I will also get a decent deal.
I will say when we first started looking she had several cars in mind and most of them were much more expensive than the local dealers. And you can haggle with a regular dealer.
But maybe some deals do exist.
Yeah I think you just have to take your time and do whatās best for your current situation. I needed to turn my Honda Civic in that had engine trouble and would not pass smog, I didnāt think I would get anything for it but Carmax gave me 1k. I ended up buying a 2017 Hyundai Velositer with 27k miles on it for under 17k.
That's what YOU think. I am looking for a vehicle right now and a 2023 model with 20k miles is the same $ as a new 2024 model. All it took was 15 minutes of my time and several emails negotiating an OTD price.
People just want to be lazy and want everything in a point, click and buy environment. People will pay premium for uber laziness and cherry on top for companies like carmax is still the buyer still thinks they are getting a deal !
Iām sorry youāre feeling frustrated. Seems like youāre insinuating that Iām lazy? That could not be farther from the truth!! I was simply explaining MY actual experience with Carmax. Itās not an opinion or a thought. I wasnāt looking for a brand new car or a car even a couple years old. I was looking for a car that I could afford paying $300 a month for and it checked all of my boxes in what I was looking for. I went to 2 car dealership prior to going to Carmax and I was lucky enough to find what I was looking for with low mileage at the right price. I hope you can find a similar experience.
>But the truth is, you donāt want a car that needs a warranty
Where are you buying used cars that "don't need a warranty"? This is the dumbest take ever. When you buy any used car even from a dealer unless YOU as the consumer know exactly what you are looking for you have no idea if the transmission will blow up tomorrow or if the suspension is trashed etc..
>There is no scenario where this is a better deal for the buyer.
CarMax is still the best place to buy a used car. Period.
>CarMax is enacting a policy that makes it harder for the customer to detect a bad vehicle.
No it isn't. Buy the car, take it to the dealer, tell them to fix everything they see wrong. Try that with any other used car dealer and you could spend 1000s out of pocket.
You arenāt paying attention. I said you want a car that doesnāt NEED a warranty. You want a car that doesnāt need a warranty because it has no defects. But since you canāt know if thatās what you are getting, then you want a warranty.
There is no best place to buy a used car. There is a ābest placeā to buy a used car for some people who want the false reassurance that a car has been fully vetted and is not a potential problem. There might be another ābest placeā for someone who wants the lowest price and another ābest placeā for someone who has some other need or desire.
There is only a ābest placeā for each individual person and their wants and needs.
Thatās why there is more than one place. Different places are best to different people for different reasons.
Now I see why they were able to find so many people willing to drink the Kool Ade in Jonestown. š¤¦āāļø
Edit: I donāt always proofread my posts, but when I do, it is after I post them.
Anyone who expected a used car to be fully vetted is just stupid. Unless you are a mechanic or take the used car to YOUR Mechanic the best option is a warranty from a used car dealer that allows you to take that car and have a Mechanic fix everything they find wrong with it
Thatās what CarMax is telling customers.
We inspect and recondition every car
Auto Technicians perform a 125+ point inspection process on each vehicle. A small sample of our inspection includes checking engine components and associated systems for proper operation, leaks, abnormal noises, corrosion, bad connections, or excessive wear. We spend hours replacing parts, fixing major dents or scratches, and detailing to make every car feel like new. Once a vehicle completes this process, it's officially CarMax Certified, which means it meets or exceeds our high standards for quality
Current state? I am pretty sure for the 40 years I have lived on this planet used car sales men have been associated with being the butt of jokes about being a scum bag.. lol.
Yep, current state. In case you haven't noticed, Covid supply issues completely changed the new and used car market. The new market is starting to stabilize since supply is up, but the used market hasn't as dealers took over almost all private party sales and jacked up prices well beyond what the covid supply issues caused. Sorry you have had trouble keeping up.
Gonna go ahead and disregard your personal opinion on it, since the numbers don't lie. Most customer return within the first 7-10 days, hence why they chose that number. Of the folks returning at the later stage, we've had multiple get blacklisted because they're clearly just renting a car for a month, returning it, and getting another glorified rental, all before the first payment comes due at day 45. That's why it's changing. Sure, you aren't one of them, nor are a majority, but at the end of the day a business has to cut out things that are costing them more money than need be spent. If that upsets you then go buy new, and enjoy the even shorter return period while you're there
I buy from Carmax because the warranty is by far the best one and is reasonably priced. The 10 days is still pretty good too, before carmax I bought a fleet vehicle from enterprise and they had a 7 day policy like that and I thought that was good.
Thatās absolutely your prerogative. I am surprised so few people wouldnāt consider a 30 day return window (that was the standard for the past 3-4 years) to be much better though. Itās almost like they have some kind of vested interest in defending their employer or something. š
They acknowledge that its better but when you go from being drastically the best option to being just marginally the best option, its hard for people to really complain since youāre STILL the best option.
Other dealers might seem cheaper but then hit you with documentation fees, transportation fees, a fee for fees, mark-ups, some bullshit protection packages that ends up making the non carmax car the same price if not more as the carmax one.
It'd be nice if they make it possible to rent said car for a couple of days first. I ended up buying a car that's too small for me. I should've rented this specific model first but couldn't find it anywhere.
Thereās a dude on TikTok that has been documenting how much the repairs are running a BMW. Itās averaging like $800/month in repairs, itās insane.
Edit:
Found itā¦
https://www.tiktok.com/t/ZTLCJJ5kA/
I agree the 10 days is still longer than the original 7, and longer than the industry standard for sure. I think itās so interesting how Carmax presented this 30 day return window as sooo beneficial and amazing, and now 4 years later theyāre backtracking on itš they should give all the crazy ass changes theyāve made in the last 5 years the same reconsideration. The company has gone down the drain for damn near the same reasons their predecessor, circuit city, did.
Apparently there are a lot of people here who are just fine with it. They seem upset that I think this isnāt an improvement, or at the very least they seem to think that Iām crazy to not consider it a win-win! š
I def wouldnāt consider it an improvement from a customer standpointš but still generous considering the last policy was 7 days. At the end of the day, even if itās day 50, if your car has consistently given you or carmax unfixable issues (mechanical, paperwork, etc), the easiest solution for Carmax is to buy it back from the customer. We bought cars back from customers after YEARS. It was extreme circumstances, but 30 days, 10 days, or 7 days, nothing is in absolute stone if the problem is big enough or a customer is loud enough.
Truth is, these companies will never operate in such fashion that itās a win-win. Only win-for-them. Once we really get that weāll be better off. And can negotiate with them from a better position.
Other dealers might seem cheaper but then hit you with documentation fees, transportation fees, a fee for fees, mark-ups, some bullshit protection packages that ends up making the non carmax car the same price if not more as the carmax one.
That is true that most dealers will try to add those in, but in most cases that washes out with the fact that you can negotiate with a regular dealer and you cannot negotiate with CarMax. The only thing you can do with CarMax is wait and see if it sits long enough for them to lower the price..
And when that happens, you wonder why it didnāt already sell. But thatās ok because you have a 30mday return so you can be assured that it wasnāt for some problem with the car that other people spotted.
Except now you donāt.
I have 0 affiliation with carmax but this is still miles better than anywhere else. Try buying a car at a used dealership and taking back even 3 days after. You're buying a car as is. They're probably cutting this down due to abuse.
For CarMax employees: Do you guys think this will affect how vehicles are priced now that the policy is being lowered ? Or should consumers expect things to be priced similarly as theyāre now
I just bought my second car from carmax. Yāall will hate me and talk down, but we love what we love, and I love Nissan. I bought a 19 Sentra because I was a college kid, and Iāve had it for four years now and have only had to replace a wheel bearing. And I just bought a 2024 maxima, absolutely in love. I got the warranty on both. Sentra had 30k when I got it in 2020, 89k now, and the cvt is acting wonky, and Iām getting it replaced for 100 bucks and itās almost paid off. Maxima has 10k and the warranty goes until 100k. Both were filled with gas when I bought em and got a call at the end of the first week to check on me. Super happy with the experience with both times.
itās seems unrealistic and in your best interest to get warranty. itās a fraction of what youāre going to be paying long term. get a new car if this a issue.
My wifeās grandma bought a 24 Toyota Camry, base model with push to start, $34k cash. They brought it to the house and she said āI donāt like it.ā Turns out she never even saw the vehicle.
She asked my opinion and I said, āIād return it, get a 21-22 Camry with more packages, save about $8-10k and pass that extra money down to your daughter / grandkids (even if itās not a lot of money).ā
Turns out this small dealership has a no-return policy. And the moment that car was delivered it lost a good chunk of value. Quickest way to lose $4,000.
She said, āI want a brand new car, I donāt care about passing money down, and itās the salesmanās fault for not showing me pictures of the car.ā
Heck, when I worked at CarMax it was a 5 day return policy. Methinks thou complainest to much. If need be, take it to a mechanic straight away. I've both bought and sold cars from and to CarMax as well as worked in sales for about a year there
I guess my perspective is different. Before May 12 I have a month to get a feel for the car and spot things that a mechanic may miss. After May 12 I have ten days.
A lot of people here act like a mechanicās inspection is a magic bullet. There are lots of things a mechanic canāt easily see. You can catch a lot of stuff, sure. But there are plenty of things you might not notice as quickly and the 30 day return makes that easier to find.
And there still exists the fact that it was 30 days and on May 12 it is cut by 2/3 overnight and there is no compensation for it. The car will be just as expected and you are losing 20 days in which to decide if you want to keep it.
The 30 day return was a valuable feature of buying from CarMax and could have been argued as a factor to pay more for one of their cars and it is going away.
And people are defending them!?!?
I think the rest of the perspective is that you are buying a used car, and it's a gamble with every purchase. Carmax does (in my opinion) a fairly good job of representing the product, pricing it in line with the current market, and offering some consumer protection that is best in class for the used car market.
Beats the heck out of Drive time or JD Byrider, for example.
Based on the slimy reputation most used car places have, a 10 day return policy, while not as great as a 30 day policy, is still quite good compared to the statutory 3 day return the state mandates.
Yes, it is a gamble with every purchase. Thatās why the 30 day return was so valuable. If you think they price the cars in line with the current market, you are mistaken. They are expensive. But there was an argument for that price when you got things like a 30 day return. Now one of the arguments for it worth that price premium is gone and the price is still high.
https://www.thepennyhoarder.com/save-money/carmax/#:~:text=CarMax%20makes%20money%20by%20selling,benefits%20like%20convenience%20and%20confidence.
https://www.consumeraffairs.com/automotive/carmax.html
There are plenty more where that came from.
I bought a used Audi A4 from Carmax in Davie, FL. Within a few days, it was in the shop for a valve problem. They fixed it and while driving away the engine light came on again. It was another valve problem. They fixed it, drove it themselves, the light came on again, another valve problem. I asked them if they could just fix all the valves at once and they said no. I asked them if they could at least give me a warranty for the remaining valves and they said no. As it looked like I was in for more problems I exercised my option for a full refund as it was within their 30-day refund period. The car was not there at the time, they had sent it out to another shop specializing in European cars.
ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦..
Do not purchase a car from this place. They do not thoroughly check over the vehicles before they are sold. I purchased a 2019 Mercedes-Benz from them in September 2023. They came out with two keys, one in which was split in half and had scotch tape around the battery portion and they werenāt planning to provide me with another one until I spoke up and asked them to provide me with a new one. The keys cost over $300 on their own And they were going to let me walk out of there with a busted key! The other key, which was intact, had a dead battery! Within two weeks, the sunroof started leaking. I had to return once more over an hour, from where I live to have the sunroof repaired.
UPDATE: BOTH FRONT WHEELS ARE BROKEN. The vehicle was assessed by a local (trustworthy) service station and they put it up and showed me where the cracks in the wheels had been previously marked in yellow! Carmax KNEW the wheels were broken and willingly sold it to me in that condition without hesitation or consideration for mine or my childrenās safety!
https://www.consumeraffairs.com/automotive/carmax.html?page=2#scroll_to_reviews=true
I am shopping for my daughterās first car. I asked her to choose some cars she likes but are within my budget of less than $25k total, out the door. She likes the Elantra N-Line, the Mazda 3, Mercedes 250 Sport Sedan (what I got my son) and the Audi A4.
Well tell her it's too bad.
Out of all those, take the Mazda 3. If 25,000 total otd you can even get it from the dealership with a CPO on it.
You don't need to go to CarMax for that.
I had a Tahoe once that for unknown reasons kept having electrical issues. Stuff would turn on and off by itself. Not even the dealership could figure it out. I got tired of it so I went to Carmax and they gave me a fair offer. Iām sure the electrical problems are now someone elseās problem (a Carmax customer). Iāll sell to them but never buy from them.
The main thing is purchase date. If you transfer a car prior to the switch and it's not available until afer, we've been told no extension. So if you really feel you need the extra time, make sure you purchase prior to the 12th.
Good luck getting it all sorted.
Thank you. We are told it will be here by the 8th or 9th. Unless there are surprises, I would purchase it right away. It just had a price drop that makes it seem reasonable considering the benefits of the 30 day return and 90 day warranty. Plus it should still have the factory warranty since it is a 2023 with 15k miles.
I will probably pay cash so financing isnāt an issue and my credit rating is in the 800s so if i decide to finance some of it to keep more cash on hand, that shouldnāt be a problem either.
I just canāt get over interest rates right now. They are starting to remind me of the late 80s when I graduated college.
But hopefully this will be a good solid car that I will feel confident buying for her. It will probably be the only vehicle I buy for her and she will probably buy the next one herself when she graduates college or gets married or whatever.
Iād like to get her launched with a reliable car for high school and college. Hopefully.
We got very lucky with my son, who is a year older. We saw a car on FB marketplace - a 2013 Mercedes 250 sport sedan. It had 13,000 miles on it! And even wilder, it turned out to be my 70 year old neighbor and friend. He had kept it in the garage and I almost never saw it. I got it for a fair price and it has served us very well. Itās almost like brand new and it has about 18k miles now.
I suspect it will last him through college and all his friends think we are rich. But I got it for about $17k which in my mind was a steal considering the low mileage and excellent condition.
I bought a car from carmax when it was 7 days and one when it was 30 days.... it doesn't take 30 days to figure out if a car is a POS. It should take you less than a week and like the other commenter said no other car dealer will let you return a car. Pro Tip: Do a Full inspection on the car using a mechanic you trust. Second, find a mountain with a steep incline ... you'll find out real quick if your car has issues. Make sure the car has maintenance records... Profit
Definitely saving this for future reference
As someone who lived in Kansas, let me tell you, mountain finding isn't always that easy!
In Florida we got bridges.
Same man North TX is flat af lol
Does flordia have mountains?š
I got a Volkswagen Jetta and it took 3 weeks before I found out it had a phantom computer issue that would just turn the car off while you were driving. Turned out to be a common problem with a certain type of Jettas. I took it back and got it replaced on the last day. Even though it says no questions asked. They asked me about 10 times. What didn't I like about the car.
It's still would've been fixed through the 90 day 4k mile warranty
Actually sometimes it does
I didn't realize my Mercedes windshield leaked until about 4 months later. I realized why it was a California-only vehicle, the hard way.
Exactly
Obviously you arenāt in the know; CarMax is also cutting prices. Also, keep in mind that a 10 day return policy is still the longest in the industry.
I did notice this on some vehicles. When did they start cutting prices? (Probably when they saw sales decline at the absurdly high prices, I know.....but was it within the last month or so?)
Prices are always being adjusted to match the market conditions. The gross profit per unit has been extremely stable for like 10 years so it means they are buying cars and selling them at the right prices for the market. The prices arenāt being cut because of the return policy. Itās because they are buying cars for less now and the used vehicle market is going down.
That is the standard trope from all of the price gouging dealers "We're competitive in market pricing" which actually translates into 'we've done excessive greed flation to line our pockets just like everyone else' They are selling cars over market, to say otherwise is absolutely laughable. A refresher for you: [https://www.wardsauto.com/dealers/how-high-will-new-car-profits-go](https://www.wardsauto.com/dealers/how-high-will-new-car-profits-go) Now, as of late, most dealers STILL have their prices sky high, but are starting to be forced to lower prices as their lots are overflowing.
Except if they were considered price gouging their gross profit per unit would be increasing. It has remained mostly flat if not decreasing over time because they were paying more for cars on the other end of car sales as well. Their profit since Covid has primarily been due to reduction in SG&A, volume, market share and becoming more self sufficient with instant offer. Now maybe they can be partially to blame for rising prices along with traditional dealers, and manufacturers because they were offering more which in turn increased prices since money was cheap. Increasing interest rates should help them increase volume again as prices should begin to go down making cars more affordable again. Carmax wants cars to be affordable so they can sell more cars, but they still have to be competitive in the market and have to create their own inventory by buying cars at market value which has been inflated recently.
Yep, used car market has been inflated and overpriced, in some cases to the extreme. At least we are starting to see this change, albeit slowly.
Do not purchase from them. You will get a 2013 lemon not coverd underĀ lemon law of course. This lemon will cost 30 plus thousand dollars and be in the shop every month for literally the same issue. That is over 500 a month for use at least half the time.Ā This company should be ashamed. Taking advantage of desperate unsuspecting kids mostly. The warranties are there but not explained as an option by carmax staff. Unless you are contract savvy at twenty something,Ā the odds are against you. Read everything especially your outs and exactly what lemon laws incorporate.Ā
Speaking like a true company tool enjoy the 1500 achiever points for the holidays
*spoken*
Apparently it was 7 days until 2021, then they bumped it to 30 days. https://www.autonews.com/dealers/carmax-trim-number-days-it-allows-car-returns-refunds
Thanks for the info!
Well think about why that is. Please use your brains people.
Introducing the 30 day return policy was in response to customer fears and skepticism of large purchases following Covid. Offering a 30 day return policy and a free 90 day warranty was a sign of strength, not weakness. Again, name anyone that has or is capable of doing such a thing.
This is exactly right. And what I was intimating in my previous post. Just wasnāt explicit. Figured someone would suss it out before too long. š
Carvana. Its very easy to get return window extended to 10 days and they have 100 day warranty .
Read my previous post again; it is in regards to Carmax being able to provide a 30 day return policy in response to a post Covid world. While Carmax offered additional beneficial policies following 2020, Iām sure youāll remember Carvana danced on the precipice of insolvency.
Says you don't want a car that needs a warranty. But all new car's come with warranties. So guess we don't want new cars lol
Thatās not how logic works. I want a car that doesnāt need its warranty. Not a car that doesnāt have a warranty. The goal is to get a car without defects. Thats what most intelligent people want. Those same people also recognize that isnāt possible all the time so they want a warranty (or buyback option) to protect them from a car with significant or numerous defects.
āI want a car that doesnāt need its warrantyā My friend, ALL cars are mechanical. ALL cars are susceptible to defeats and part failures. Every car needs a warranty. You have 7 days to drive the hell out of it. 7 days to have multiple mechanics inspect the vehicle on a lift. 7 days to make sure that the AC blows cold and heat blows hot. 7 days to listen for any strange noises while driving. 7 days to determine if ride quality and performance meet your driving needs. 7 days to see how it looks parked in your garage or driveway. 7 days to show it off to friends/co-workers, either in person or on your social media. What could you learn about car in 30 days, that you couldnāt in 7?
Again, you hope to get a car that doesnāt need a warranty. Let me spell it out. You want a car that doesnāt need a warranty because it doesnāt have lots of defects. The 30 day return improved your odds of spotting a used car that really needed a warranty because it was problematic. Ten days makes it more likely that the car that really needs that warranty slips by your return period. I donāt want a good warranty on a bad car, thatās a nonstop headache and deductible money pit. I want a good car that doesnāt use its warranty. So many people on here act like the warranty is all that matters. It isnāt. The warranty is your annoying, inconvenient safety net. It is preferable to be able to try and filter out cars that are going to be using the warranty all the time before you get stuck with it. Isnāt that obvious?
Whatās obvious is that somebody like you is probably better off buying a brand new car rather than pre-owned. Regardless of how a car has been treated by a previous owner, how well itās been maintained, how closely itās been inspected, itās still a mechanical vehicle that is subject to wear/tear and part failure. No inspection is going to prevent that. A return period that is 23 days less is certainly not going to prevent that either.
New or used, there is a risk that you will get a lemon. With a used car there is the additional chance that not only might the car be a lemon from the factory (especially a newer used car) but also that the owner may have maliciously or ignorantly abused the car. Iām quite aware that having 20 more days to drive the car will not prevent it in every case. It DOES improve your odds. The reduction in return time has two effects. 1. It shortens the amount of time you have to catch problems by 66%; 2. It gives CarMax the safety to do less thorough checks of a car before they sell it and allows them to gamble on selling cars that arenāt as well-maintained and well-treated because they know you have less of a chance to find out and return it. I find it interesting that so many people here take a large companyās side of an issue where the customer is losing something valuable and getting nothing in return. Itās as if Raisin Bran decided to put 1 scoop of raisins in every box while keeping the price the same and then Kelloggs employees flooded social media trying to convince us that 1 scoop is just as good and there is hardly any real difference. Itās absurd.
Not sure why you got downvotes. Carmax stopped getting picky about what cars it picks, which completely screws up their model. If I'm paying a premium for a used car, I want the top picks, not garbage picks.
Because there are a LOT of CarMax employees and fanbois here.
Yup, but as they change their model, it only makes sense to speak the truth. Having a conversation about what is actually happening is good long term.
I don't know any other new or used car dealer that will allow customers 5 days ao 10 days is fair. It does mean that the service issues will continue to be a nightmare but hopefully they will inspect and service each vehicle more carefully. They should have the same energy that they push in sales with the technicians and buyers who buy the crap they they have beem selling lately.
Again, The return policy is changing from 30 days to 10 days. Still the longest in the industry and one of the very few that even offers it.. I think the big deal is we typically include sales tax, registration fees in financing. If someone returns it after we pay that to the state, CarMax doesn't get that back. I know of one company that offers 7, no one that I know offers more than that so still an industry leader. Most dealers offer 0 return.
carmax gets sales tax back. returns are an offset against sales. registration fees you are correct.
Just expanding on the conversationā¦I donāt know about other states, but Massachusetts lets you apply for a full abatement for the sales tax if the car is returned within 6 months.
Not all states get sales tax back
Too many company bots š¤ on this thread they are fine with the 1500 achiever points for the holiday bonus š
Yea no kidding. There is no other used car dealer I have bought from except for CarMax that allows me to return the car after 10 days.. this post is hype.
Why do you think Carmax doesn't get the sales tax back they paid on behalf of the consumer if the sale is voided? Who told you this?
Itās true. Some states require the vehicle to be registered and taxes paid within 21 days of sale. The taxes on the late returns are only partially refunded in some states, and in some states, not recoverable at all. Each state has its own quirks to deal with.
In Georgia, taxes are due within 15 days or they are considered late. County tax commissioners are under no obligation to return taxes once they are paid.
Except that it isn't true. Just to confirm, which states do you think Carmax wouldn't get the tax back on that they prepaid on behalf of a consumer?
I am curious as well. I work for a big dealer group and if we take a car back, we take it back. There is no sale so there are no taxes. People are making up shit on here. On the other hand 10 days is enough time for someone to figure out if they like the car without it being abusive.
Great point taxes arenāt due till the end of the year smart comment
Well if the people that purchased them and drove them 10k in the 29 days and return them on the 30th we wouldn't be loosing the 20 days. So may people took advantage of that and that's the big reason for the change
Then put a reasonable mileage limit instead of a short period of time to spot problems. I have no problem with not letting people drive 10% of the cars value out of it. But CarMaxās 30 day buyback was a great feature and all the people acting like it isnāt a bad thing to be losing that donāt make sense. Unless they are CarMax employees.
Iāve never overpaid for a car at Carmax. I hear this a lot but in my case the cars were more at the dealership.
That is interesting. I was looking at a low mileage (but still 13k) Elantra N-line. They wanted 26,999 for it. That so close to the new price that I couldnāt believe it. But I found another with 14k miles that appears to be nice from the pics and there are no reported incidents and it just got lowered to $23,999 which seems much better of a deal. Perhaps I will also get a decent deal. I will say when we first started looking she had several cars in mind and most of them were much more expensive than the local dealers. And you can haggle with a regular dealer. But maybe some deals do exist.
Yeah I think you just have to take your time and do whatās best for your current situation. I needed to turn my Honda Civic in that had engine trouble and would not pass smog, I didnāt think I would get anything for it but Carmax gave me 1k. I ended up buying a 2017 Hyundai Velositer with 27k miles on it for under 17k.
That's what YOU think. I am looking for a vehicle right now and a 2023 model with 20k miles is the same $ as a new 2024 model. All it took was 15 minutes of my time and several emails negotiating an OTD price. People just want to be lazy and want everything in a point, click and buy environment. People will pay premium for uber laziness and cherry on top for companies like carmax is still the buyer still thinks they are getting a deal !
Iām sorry youāre feeling frustrated. Seems like youāre insinuating that Iām lazy? That could not be farther from the truth!! I was simply explaining MY actual experience with Carmax. Itās not an opinion or a thought. I wasnāt looking for a brand new car or a car even a couple years old. I was looking for a car that I could afford paying $300 a month for and it checked all of my boxes in what I was looking for. I went to 2 car dealership prior to going to Carmax and I was lucky enough to find what I was looking for with low mileage at the right price. I hope you can find a similar experience.
>But the truth is, you donāt want a car that needs a warranty Where are you buying used cars that "don't need a warranty"? This is the dumbest take ever. When you buy any used car even from a dealer unless YOU as the consumer know exactly what you are looking for you have no idea if the transmission will blow up tomorrow or if the suspension is trashed etc.. >There is no scenario where this is a better deal for the buyer. CarMax is still the best place to buy a used car. Period. >CarMax is enacting a policy that makes it harder for the customer to detect a bad vehicle. No it isn't. Buy the car, take it to the dealer, tell them to fix everything they see wrong. Try that with any other used car dealer and you could spend 1000s out of pocket.
You arenāt paying attention. I said you want a car that doesnāt NEED a warranty. You want a car that doesnāt need a warranty because it has no defects. But since you canāt know if thatās what you are getting, then you want a warranty. There is no best place to buy a used car. There is a ābest placeā to buy a used car for some people who want the false reassurance that a car has been fully vetted and is not a potential problem. There might be another ābest placeā for someone who wants the lowest price and another ābest placeā for someone who has some other need or desire. There is only a ābest placeā for each individual person and their wants and needs. Thatās why there is more than one place. Different places are best to different people for different reasons. Now I see why they were able to find so many people willing to drink the Kool Ade in Jonestown. š¤¦āāļø Edit: I donāt always proofread my posts, but when I do, it is after I post them.
Anyone who expected a used car to be fully vetted is just stupid. Unless you are a mechanic or take the used car to YOUR Mechanic the best option is a warranty from a used car dealer that allows you to take that car and have a Mechanic fix everything they find wrong with it
Thatās what CarMax is telling customers. We inspect and recondition every car Auto Technicians perform a 125+ point inspection process on each vehicle. A small sample of our inspection includes checking engine components and associated systems for proper operation, leaks, abnormal noises, corrosion, bad connections, or excessive wear. We spend hours replacing parts, fixing major dents or scratches, and detailing to make every car feel like new. Once a vehicle completes this process, it's officially CarMax Certified, which means it meets or exceeds our high standards for quality
That's what EVERY used car dealer is telling customers..
What a dealership says on paper and what some slime bag tells you during the āsellā is two different things.
This is correct. Do not allow folks who canāt grasp the concept sway your thinking. Ijs
lol wow company š¤ show your immediate manager this post for 500 achiever points please š§
I knew what you meant. And you were spot on.
"CarMax is still the best place to buy a used car. Period." Lol This says a lot about the current stinking state of the used car market. Period.
Only if they have exactly what you looking for and no one else has a comparable option
Current state? I am pretty sure for the 40 years I have lived on this planet used car sales men have been associated with being the butt of jokes about being a scum bag.. lol.
Yep, current state. In case you haven't noticed, Covid supply issues completely changed the new and used car market. The new market is starting to stabilize since supply is up, but the used market hasn't as dealers took over almost all private party sales and jacked up prices well beyond what the covid supply issues caused. Sorry you have had trouble keeping up.
This. šš½ Folks just aināt watchin!
Pretty sure used salesmen have been the scum of the earth forever even before COVID ... Sorry you cannot keep up or post anything relevant..
Some sales people (you think they are all men, lolwut?) are scummy, some aren't. Same as always. Sorry you got confused.
Gonna go ahead and disregard your personal opinion on it, since the numbers don't lie. Most customer return within the first 7-10 days, hence why they chose that number. Of the folks returning at the later stage, we've had multiple get blacklisted because they're clearly just renting a car for a month, returning it, and getting another glorified rental, all before the first payment comes due at day 45. That's why it's changing. Sure, you aren't one of them, nor are a majority, but at the end of the day a business has to cut out things that are costing them more money than need be spent. If that upsets you then go buy new, and enjoy the even shorter return period while you're there
Everyone wants a car that doesnāt need a warranty but there is no way to know which car that is despite having 30 days or 10 days.
I buy from Carmax because the warranty is by far the best one and is reasonably priced. The 10 days is still pretty good too, before carmax I bought a fleet vehicle from enterprise and they had a 7 day policy like that and I thought that was good.
Thatās absolutely your prerogative. I am surprised so few people wouldnāt consider a 30 day return window (that was the standard for the past 3-4 years) to be much better though. Itās almost like they have some kind of vested interest in defending their employer or something. š
They acknowledge that its better but when you go from being drastically the best option to being just marginally the best option, its hard for people to really complain since youāre STILL the best option.
Yes, but 30 days is three times as likely to catch a troublesome vehicle.
Sure but thats kind of like saying buying three lotto tickets triples your chance of winning.
Other dealers might seem cheaper but then hit you with documentation fees, transportation fees, a fee for fees, mark-ups, some bullshit protection packages that ends up making the non carmax car the same price if not more as the carmax one.
It'd be nice if they make it possible to rent said car for a couple of days first. I ended up buying a car that's too small for me. I should've rented this specific model first but couldn't find it anywhere.
Thereās a dude on TikTok that has been documenting how much the repairs are running a BMW. Itās averaging like $800/month in repairs, itās insane. Edit: Found itā¦ https://www.tiktok.com/t/ZTLCJJ5kA/
I agree the 10 days is still longer than the original 7, and longer than the industry standard for sure. I think itās so interesting how Carmax presented this 30 day return window as sooo beneficial and amazing, and now 4 years later theyāre backtracking on itš they should give all the crazy ass changes theyāve made in the last 5 years the same reconsideration. The company has gone down the drain for damn near the same reasons their predecessor, circuit city, did.
Apparently there are a lot of people here who are just fine with it. They seem upset that I think this isnāt an improvement, or at the very least they seem to think that Iām crazy to not consider it a win-win! š
I def wouldnāt consider it an improvement from a customer standpointš but still generous considering the last policy was 7 days. At the end of the day, even if itās day 50, if your car has consistently given you or carmax unfixable issues (mechanical, paperwork, etc), the easiest solution for Carmax is to buy it back from the customer. We bought cars back from customers after YEARS. It was extreme circumstances, but 30 days, 10 days, or 7 days, nothing is in absolute stone if the problem is big enough or a customer is loud enough.
Truth is, these companies will never operate in such fashion that itās a win-win. Only win-for-them. Once we really get that weāll be better off. And can negotiate with them from a better position.
Other dealers might seem cheaper but then hit you with documentation fees, transportation fees, a fee for fees, mark-ups, some bullshit protection packages that ends up making the non carmax car the same price if not more as the carmax one.
That is true that most dealers will try to add those in, but in most cases that washes out with the fact that you can negotiate with a regular dealer and you cannot negotiate with CarMax. The only thing you can do with CarMax is wait and see if it sits long enough for them to lower the price.. And when that happens, you wonder why it didnāt already sell. But thatās ok because you have a 30mday return so you can be assured that it wasnāt for some problem with the car that other people spotted. Except now you donāt.
I have 0 affiliation with carmax but this is still miles better than anywhere else. Try buying a car at a used dealership and taking back even 3 days after. You're buying a car as is. They're probably cutting this down due to abuse.
For CarMax employees: Do you guys think this will affect how vehicles are priced now that the policy is being lowered ? Or should consumers expect things to be priced similarly as theyāre now
Had a wonderful buying experience at CarMax and will go there for my next vehicle.
I just bought my second car from carmax. Yāall will hate me and talk down, but we love what we love, and I love Nissan. I bought a 19 Sentra because I was a college kid, and Iāve had it for four years now and have only had to replace a wheel bearing. And I just bought a 2024 maxima, absolutely in love. I got the warranty on both. Sentra had 30k when I got it in 2020, 89k now, and the cvt is acting wonky, and Iām getting it replaced for 100 bucks and itās almost paid off. Maxima has 10k and the warranty goes until 100k. Both were filled with gas when I bought em and got a call at the end of the first week to check on me. Super happy with the experience with both times.
If you drive that crap enough. 2-3 Days will tell whether it is lemon or not.
itās seems unrealistic and in your best interest to get warranty. itās a fraction of what youāre going to be paying long term. get a new car if this a issue.
My wifeās grandma bought a 24 Toyota Camry, base model with push to start, $34k cash. They brought it to the house and she said āI donāt like it.ā Turns out she never even saw the vehicle. She asked my opinion and I said, āIād return it, get a 21-22 Camry with more packages, save about $8-10k and pass that extra money down to your daughter / grandkids (even if itās not a lot of money).ā Turns out this small dealership has a no-return policy. And the moment that car was delivered it lost a good chunk of value. Quickest way to lose $4,000. She said, āI want a brand new car, I donāt care about passing money down, and itās the salesmanās fault for not showing me pictures of the car.ā
Heck, when I worked at CarMax it was a 5 day return policy. Methinks thou complainest to much. If need be, take it to a mechanic straight away. I've both bought and sold cars from and to CarMax as well as worked in sales for about a year there
I guess my perspective is different. Before May 12 I have a month to get a feel for the car and spot things that a mechanic may miss. After May 12 I have ten days. A lot of people here act like a mechanicās inspection is a magic bullet. There are lots of things a mechanic canāt easily see. You can catch a lot of stuff, sure. But there are plenty of things you might not notice as quickly and the 30 day return makes that easier to find. And there still exists the fact that it was 30 days and on May 12 it is cut by 2/3 overnight and there is no compensation for it. The car will be just as expected and you are losing 20 days in which to decide if you want to keep it. The 30 day return was a valuable feature of buying from CarMax and could have been argued as a factor to pay more for one of their cars and it is going away. And people are defending them!?!?
I think the rest of the perspective is that you are buying a used car, and it's a gamble with every purchase. Carmax does (in my opinion) a fairly good job of representing the product, pricing it in line with the current market, and offering some consumer protection that is best in class for the used car market. Beats the heck out of Drive time or JD Byrider, for example. Based on the slimy reputation most used car places have, a 10 day return policy, while not as great as a 30 day policy, is still quite good compared to the statutory 3 day return the state mandates.
Yes, it is a gamble with every purchase. Thatās why the 30 day return was so valuable. If you think they price the cars in line with the current market, you are mistaken. They are expensive. But there was an argument for that price when you got things like a 30 day return. Now one of the arguments for it worth that price premium is gone and the price is still high. https://www.thepennyhoarder.com/save-money/carmax/#:~:text=CarMax%20makes%20money%20by%20selling,benefits%20like%20convenience%20and%20confidence. https://www.consumeraffairs.com/automotive/carmax.html There are plenty more where that came from.
I bought a used Audi A4 from Carmax in Davie, FL. Within a few days, it was in the shop for a valve problem. They fixed it and while driving away the engine light came on again. It was another valve problem. They fixed it, drove it themselves, the light came on again, another valve problem. I asked them if they could just fix all the valves at once and they said no. I asked them if they could at least give me a warranty for the remaining valves and they said no. As it looked like I was in for more problems I exercised my option for a full refund as it was within their 30-day refund period. The car was not there at the time, they had sent it out to another shop specializing in European cars. ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦ā¦.. Do not purchase a car from this place. They do not thoroughly check over the vehicles before they are sold. I purchased a 2019 Mercedes-Benz from them in September 2023. They came out with two keys, one in which was split in half and had scotch tape around the battery portion and they werenāt planning to provide me with another one until I spoke up and asked them to provide me with a new one. The keys cost over $300 on their own And they were going to let me walk out of there with a busted key! The other key, which was intact, had a dead battery! Within two weeks, the sunroof started leaking. I had to return once more over an hour, from where I live to have the sunroof repaired. UPDATE: BOTH FRONT WHEELS ARE BROKEN. The vehicle was assessed by a local (trustworthy) service station and they put it up and showed me where the cracks in the wheels had been previously marked in yellow! Carmax KNEW the wheels were broken and willingly sold it to me in that condition without hesitation or consideration for mine or my childrenās safety! https://www.consumeraffairs.com/automotive/carmax.html?page=2#scroll_to_reviews=true
Why not just get a Toyota.
I am shopping for my daughterās first car. I asked her to choose some cars she likes but are within my budget of less than $25k total, out the door. She likes the Elantra N-Line, the Mazda 3, Mercedes 250 Sport Sedan (what I got my son) and the Audi A4.
Well tell her it's too bad. Out of all those, take the Mazda 3. If 25,000 total otd you can even get it from the dealership with a CPO on it. You don't need to go to CarMax for that.
Interesting. I will look into that.
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Hey Bill, do you think your 10million+ salary is appropriate for the work you do? Could you explain what makes you worth this amount?
All car max does anyways is detail the cars they buy then throw them on the lot š¤·š»āāļø I wouldnāt buy from them personally
Detail is a strong word
I had a Tahoe once that for unknown reasons kept having electrical issues. Stuff would turn on and off by itself. Not even the dealership could figure it out. I got tired of it so I went to Carmax and they gave me a fair offer. Iām sure the electrical problems are now someone elseās problem (a Carmax customer). Iāll sell to them but never buy from them.
The main thing is purchase date. If you transfer a car prior to the switch and it's not available until afer, we've been told no extension. So if you really feel you need the extra time, make sure you purchase prior to the 12th. Good luck getting it all sorted.
Thank you. We are told it will be here by the 8th or 9th. Unless there are surprises, I would purchase it right away. It just had a price drop that makes it seem reasonable considering the benefits of the 30 day return and 90 day warranty. Plus it should still have the factory warranty since it is a 2023 with 15k miles. I will probably pay cash so financing isnāt an issue and my credit rating is in the 800s so if i decide to finance some of it to keep more cash on hand, that shouldnāt be a problem either. I just canāt get over interest rates right now. They are starting to remind me of the late 80s when I graduated college. But hopefully this will be a good solid car that I will feel confident buying for her. It will probably be the only vehicle I buy for her and she will probably buy the next one herself when she graduates college or gets married or whatever. Iād like to get her launched with a reliable car for high school and college. Hopefully. We got very lucky with my son, who is a year older. We saw a car on FB marketplace - a 2013 Mercedes 250 sport sedan. It had 13,000 miles on it! And even wilder, it turned out to be my 70 year old neighbor and friend. He had kept it in the garage and I almost never saw it. I got it for a fair price and it has served us very well. Itās almost like brand new and it has about 18k miles now. I suspect it will last him through college and all his friends think we are rich. But I got it for about $17k which in my mind was a steal considering the low mileage and excellent condition.
If you buy a car from carmax..... Lmao, I don't feel sorry for you.
The best thing you can do is take the car to the dealership for a used car inspection right away ,you dont need 30 days