Carmax new 30 day return policy. What the catch?

[javacontour]

Perhaps buying something with a known achilles heel via CarMax is a risk mitigation strategy?





Now I have no idea if he got a good deal or not. I don't know if his strategy is a good one or not. Just reporting on one possible rationale for people to buy at CarMax

 

[CKN]

Perhaps buying something with a known achilles heel via CarMax is a risk mitigation strategy?





Now I have no idea if he got a good deal or not. I don't know if his strategy is a good one or not. Just reporting on one possible rationale for people to buy at CarMax

There is a thread on a BMW forum about how Carmax paid to replace a motor at a BMW dealership because they couldn't fix it in house. Carmax as one of the best (for purchase) after market warranty in the business.

 

[SeaJay]

Probably lots of folks that are nervous about buying a car sight unseen. A 30 day return policy makes it an easier decision. Also, there is time with the 30 days for a buyer to ensure they are really comfortable with the particular vehicle and that all of its functionality works.

 

[glock19]

Besides the prices, the other thing about Carmax that I'm not crazy about is how they ship cars south. It seems like a majority of the cars at my local Carmax are from up north (PA, NY, MA, CT, etc...) and have rust if you bother to look.

To their credit, they provide a free vehicle history which shows where it spent it's life. Also, the sales people have always been up front when I ask about rust, but they leave it up to you to ask the question.

 

[CKN]

Besides the prices, the other thing about Carmax that I'm not crazy about is how they ship cars south. It seems like a majority of the cars at my local Carmax are from up north (PA, NY, MA, CT, etc...) and have rust if you bother to look.

To their credit, they provide a free vehicle history which shows where it spent it's life. Also, the sales people have always been up front when I ask about rust, but they leave it up to you to ask the question.

Well...it would seem it wouldn't be logical from a freight standpoint to ship to where you are located from California, Arizona, Nevada, where snow is basically a non-issue.

 

[glock19]

Well...it would seem it wouldn't be logical from a freight standpoint to ship to where you are located from California, Arizona, Nevada, where snow is basically a non-issue.

I wouldn't expect that, but I thought I would see more local cars that spent their life in VA.

 

[PimTac]

Do they do a inspection of the car like the rental companies do for dents and scratches and stuff?

It sounds like a good way to get killed on the financial side after all the gamers take advantage of it.

 

[CKN]

Do they do a inspection of the car like the rental companies do for dents and scratches and stuff?

It sounds like a good way to get killed on the financial side after all the gamers take advantage of it.

Yes-they have a 100 point or something inspection.

 

[KCJeep]

Carmax is often high but they seem to base their price on what they happened to pick the vehicle up for. If you shop them closely you will see some variances in similar models of 2k or more. If you shop them really closely you can find vehicles listed for about the same as other dealers and that will be minus a lot of hassle and the dealer trying to pack hidden thousands of profits into the deal "after" the sale.

Never bought from them but I do look, they are a viable option if you're patient.

I would guess this buy back warranty is aimed as a follow up companion to the no contact buying they are trying to woo Covidscared folks with.

 

[KCJeep]

Perhaps buying something with a known achilles heel via CarMax is a risk mitigation strategy?

It can be, I'm aware of one guy who shared his habit of buying Land Rovers from Carmax, buying the warranty and then typically getting WAY more than the warranty price back as his ownership progressed. However they have wised up to this tactic I understand a warranty on a Rover would be quadruple some other cars at this point. Good for him while it lasted though.

 

[aquariuscsm]

Carmax are ripoff artists.

 

[CKN]

Carmax are ripoff artists.

How SO? You took the first shot-give us another one.........

 

[Skippy722]

Carmax>any dealer when buying a used car. You can walk the lot without a sales person, there’s absolutely no pressure to buy anything, no one is forcing warranties or anything down your throat, and the price on the sticker is exactly what you’re paying. Got in and out in 2 hours when we traded in our Durango and bought the 300. In comparison, I spent almost 5 hours at the dealer when I bought my truck.

 

[SZR48207]

But it's a NO HAGGLE price.

Since you are in the biz of flipping cars, you are seeing through the veil quite easily. But someone.. like a musician who spends 100% of their time thinking about music isn't going to devote time to squeezing out every last penny when they buy a car.

Of course you laugh at the no haggle price concept, but to some people it's a more than fair deal.

 

[jimbrewer]

“Help you complete your return.” Not “money back guarantee.”

In the used car world the dealer gets the car back and keeps your money and calls it even.

 

[Crash Bandicoot]

https://www.carproperty.com/carmax-...-a-death-blow-to-other-dealers-ad48343860.htm

Is there some catch to this? Get ALL your money back? No $500 service charge or nonrefundable processing fee? What's to prevent someone from picking up something nice to drive around for a month and just returning it? Or going on a 3 week vacation and buying something and returning instead of getting a rental?

I’ve returned a car to Carmax. Very easy process no catch. It’s actually much faster than buying the car.

 

[Leo99]

It can be, I'm aware of one guy who shared his habit of buying Land Rovers from Carmax, buying the warranty and then typically getting WAY more than the warranty price back as his ownership progressed. However they have wised up to this tactic I understand a warranty on a Rover would be quadruple some other cars at this point. Good for him while it lasted though.

I know who you're talking about. That's a funny story.

 

[Leo99]

Since you are in the biz of flipping cars, you are seeing through the veil quite easily. But someone.. like a musician who spends 100% of their time thinking about music isn't going to devote time to squeezing out every last penny when they buy a car.

Of course you laugh at the no haggle price concept, but to some people it's a more than fair deal.

I know people that buy used cars from dealers and don't haggle. Too much pressure. Not everyone likes to horse-trade.

 

[zzyzzx]

I wouldn't expect that, but I thought I would see more local cars that spent their life in VA.

It's pretty much the same for used vehicles in Maryland. Seems like a LOT, if not more than half are from the rust belt.

 

[alarmguy]

No denying Car Max has been very successful, not for me, pricey and MANY vehicles we looked had repainting and/or body work/ and or submerged in salt water.
Don't get me wrong, things can happen any place but the Car Max success is more marketing AND a pleasant buying experience with some security you won't get stuck should you change your mind. That is a value to some people.

At the same time, you could for example purchase a Certified GM vehicle that will guarantee its never been in an accident plus have a GM warranty that I would feel better about.

Let face it, many auto dealers with their back stabbing ruthless sales practices created the demand and success of Car Max.