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Carmax - What's Your Experience?

763 messages,  Last post on Nov 14, 2009 at 11:37 AM

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What is this discussion about? Car Leasing, Car Financing


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#8 of 763
Carmax TTL Estimator? by adamsear
Feb 12, 2006 (12:10 pm)
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Can anyone tell me if the Carmax TaxTitleTags estimator is accurate?
 
http://www.carmax.com/dyn/research/TaxTitleTags/taxtitletags.aspx
 
 I'm considering what I can afford OTD for a new car, and the estimate of TTT (especially in California) is a pretty important figure. I'm wondering if anyone who recently purchased a car could quickly check against their actual costs and let me know.
 
Thanks!
#9 of 763
former Carmax employee here by basscadet
Feb 12, 2006 (12:38 pm)
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Hi, I have just recently left Carmax after working there for over a year. I can answer most of the Carmax-related questions you folks might have.
#10 of 763
Re: Carmax TTL Estimator? [adamsear] by basscadet
Feb 12, 2006 (12:39 pm)
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Replying to: adamsear (Feb 12, 2006 12:10 pm)

yes, it is very accurate. Of course, it is only as accurate as the information you put into it. Are you selecting the right tax rates for your area? They calculate based on where you live, not where the store is located.
#11 of 763
Re: Carmax [1racefan] by basscadet
Feb 12, 2006 (12:42 pm)
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Replying to: 1racefan (Feb 06, 2006 12:24 pm)

You will often pay more money for a used car at Carmax for one very important reason - the quality of their used cars are second to none.
 
That said, some deals are better than others. You can go into a Carmax and find two identical vehicles and one will be priced $1000 less than the other. The difference is due to the amount of reconditioning necessary to bring the cars up to Carmax spec.
 
Carmax spends more money and time reconditioning their used vehicles than most any other used car lot.
 
But are they the cheapest place to shop? NO.
#12 of 763
Re: selling outright [muzzy] by basscadet
Feb 12, 2006 (12:47 pm)
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Replying to: muzzy (Feb 06, 2006 6:39 pm)

Kelly Blue Book prices are completely ridiculous and inaccurate. If you look at the cars that are being sold at Carmax you will see that the vast majority are at least $1000 less than what Kelly says they should be selling for. So if you're getting $1000 less for your trade-in but also getting your new car for $1000 less than what KBB says, it is a wash.
 
Relying on Kelly Blue Book to determine whether or not you're getting a good deal at a car dealership is a dire mistake.
 
The Kelly Blue Book accuracy on private party transactions are much, much greater.
 
If anybody is curious why Kelly Blue Book is so inaccurate I would be happy to explain.
#13 of 763
Re: my friend [1racefan] by basscadet
Feb 12, 2006 (12:48 pm)
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Replying to: 1racefan (Feb 08, 2006 4:38 am)

Any car purchased at Carmax comes with an 5 day money back guarantee. There is no restocking fee or mileage limit. It is a no-hassle, no-fine-print guarantee. That 5 day period allows you to have the car checked with your own mechanic.
#14 of 763
basscadet by 1racefan
Feb 13, 2006 (7:12 am)
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I am curious - take an average 15,000 mile used car at Carmax. What is typically reconditioned on a car like this? Are all of the fluids automatically flushed, brake pads changed, etc...? I would be curious to know what exactly is reconditioned on an almost new car at Carmax.
#15 of 763
Carmax Trade In Values by oghowie
Feb 13, 2006 (12:12 pm)
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Would I usually get more than a car dealership on my trade-ins at Carmax or is the value usually pretty close?
 
What is the usual profit margin on a CarMax used car? That would help me figure out how much they would be willing to give just based off their website.
 
Thanks!
#16 of 763
Re: selling outright [basscadet] by dino001
Feb 13, 2006 (2:54 pm)
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Replying to: basscadet (Feb 12, 2006 12:47 pm)

I know that KBB retail "values" are basically some kind of average (or expected) asking prices in "traditional" dealerships. What is a trade-in "value"?
#17 of 763
Re: selling outright [dino001] by british_rover
Feb 13, 2006 (4:30 pm)
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Replying to: dino001 (Feb 13, 2006 2:54 pm)

I have no idea but I think they figure it out from using random numbers generated from sunspots like how the NSA does their encryption technology.
 
Seriously though KBB trade in values are almost never ever right and I have no idea how the make them up.
 
If people just paid what the KBB retail price was I would have no problem giving them what the KBB trade in value was since things would even out. We over allowed by 3-5 grand on their trade but they also over paid 3-5 grand on the used car they bought.

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