Or you can buy it and have it shipped to the CarMax location closest to you. In some cases, CarMax offers delivery to your home. Just remember that if the vehicle you settle on is located some distance from you, you may incur transport costs. To see how the prices at CarMax stack up to the competition, we compared three vehicles of different makes and model years at the time of writing.
As you can see, with the first two vehicles, the prices are pretty similar. But with the newer, more expensive SUV there is quite a spread. At that point, you can schedule a time to take your vehicle in for an inspection. That offer was a bit of a slap in the face but the Carmax employee was quick to tell me that their offer depends not only on the KBB value but mostly on the market and what they can sell the car for.
Personal experiences aside, it looks like Carmax is prepared to appraise just about any car that you bring them, at least from what I can tell from the countless videos on YouTube. In fact, Carmax's annual sales retail and wholesale exceeded 1 million units for the first time in That makes them America's biggest used car dealer group. There is no question Carmax is good at what they do, but the million dollar question is, "w hen I need to sell my car, is there a way to beat Carmax's offer without giving up convenience?
At the heart of Carmax's success is an obsession with business discipline and process management. Keep in mind, running a single point medium-size used car operation is a high risk, capital intensive, process-oriented business.
Now, magnify that by corporate-owned large volume locations in dozens of unique retail markets. Their business model requires a constant inflow of used vehicles from various sources, making Carmax the largest used car buyer in the country too. A highly efficient used car dealership like Carmax will turn its retail inventory every 45 days. That means on average, Carmax needs to replace buy approximately 58, vehicles each month to maintain inventory on its lots.
So, where does Carmax get the 58, cars they need every month to feed the machine? Here are their three primary sources:. That brings in about 22, vehicles, but not all them will qualify for resale on their lots due to age, mileage or condition. A large share of them will be flagged for immediate auction disposal without being offered for sale to the public.
Next, you can take your car to that local CarMax, and let an appraiser examine it for damage and take it for a drive. Then, you will get an offer for your car that is good for seven days. The appraiser will also get a vehicle history report and view it.
The look for defects as well as flood and frame damage. CarMax will also consider the care as well as long-term maintenance of your car in determining their appraisal offer. CarMax will indeed purchase cars that have damage. That damage can include flooding or frame damage. But keep in mind that CarMax can refuse to buy any car at any time. With all of the damage that your car has, CarMax will take all of that into consideration before a written offer is presented to you.
For cars with extensive damage, CarMax will take those cars to a dealer auction, and disclose all problems with the cars. As the country's largest used car retailer, lots of people have sold their car to CarMax and have an array of experiences.
Check out what others are saying! They are easy to deal with, professional, and straightforward. After the appraisal, you give them your keys, and they give you a check.
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