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Joel... I don't know what she paid but imagine she paid $1500 or $2000 for 5 year 60k mile warranty. That will be up in one year.
Here's my other question does Carmax do their own warranties where you can only bring it to them if something breaks down?
I paid $1949 for it, and the Carmax salesman showed me on his screen that my warranty will expire on 10/12/2012 or 96k miles, whichever is earlier. The 3 year 36k warranty was $1499, and 4 year 48k was $1749.
Thanks for the info. It sounds like a warranty that can only be done at carmax. Which is good id that works for you.
Gp
Fortunately, I did not have a chance to test this out since I never had any repairs on the vehicle during the warranty period.
Also, the deductible is per visit and not per part/problem. So one can wait to go for the warranty service once you want a few collective items looked at.
I'm reading your posts and wonder why you are so obsessed with working for a company that does not want you as their employee.
Forget about them. Find something else. There are better things out there to do with your life. What else do you like to do?
Mackabee
That's all I'm gonna say...
Then on the other hand, that's how my current employer is. Nothing like telling your employees "Oh we care about your safety but we don't want to spend the money" or I personally like this one. Our managers will say "You should do what we say cause we (as in them as managers) take care of you." Last time I checked; the company's owners were the ones who signs our checks and not our managers also agreeing on our end of the year bonus.' Senior employees believe that those big bonus' are "Hush money" for dealing with alot of BS.
The whole Carmax situation...
I'm getting a kick out of this for my personal enjoyment. LOL Even the Carmax employees that I know even think it's funny. We always joke around about this when I see them.
maybe I need to post a frustration video on my you tube site that gets about 230,000 hits a day 99,000 being form our city will that get their action LOL I am at my witss end but when they say we strive for word of mouth well I got a big mouth LOL
Your best bet is to document every step in writing, including dates on which you called them to report the issues. You reported them within the 30 day warranty period, so you should still be covered. However, you need to keep written records.
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I'm close to buying a new one for around $25500, maybe even a little better.
Absurd. Anybody who pays their prices for 'near-new' cars deserves to get taken. And you will---like Grant took Richmond.
I may work for privately owned corporation but we just our billion dollar mark back in November. But there's company rumor going around that we are planning on buying out another company that is public owned which happens to be a international known company, I will not say which company due to company privacy. But they are in the same company category as Carmax meaning retail.
Lets just say my current pay is somewhere near what a 5 year experienced Service Consultant probably makes. And if I took at position I'll probably start off at 10.50. No way.
I understand some of them may come from vehicles sold to them by "walk-ins", I have walked in and sold 2 vehicles to them in past years. I also understand Carmax may choose to sell the vehicles (bought from walk-ins) at "auction" and not spend the money to sell them on the Carmax lot.
So other than "walk-in" type vehicle purchases, I understand Carmax purchases their sale vehicles (inventory) from "auction". Can anyone share more info about this auction process? Where do the vehicles come from that get sold at the auction that Carmax buys from? For example, are the vehicles lease-returns, ex-car rental fleet, corporate fleet, ???
I did a search on the Carmax web site for model year 2006 Honda Odyssey minivan, within 500 miles of my zip code. The search returned approx. 10 '06 Odysseys, with mileage from approx 20k to 50k. Some of these still with factory warranty remaining. Where did these vans come from?
Thanks for any enlightenment on this.
-Gary K
I don't think Carmax is the problem. I sucked during my interviews; the more I did them the worst I did. I show them how nervous I am by stumbling on my words, I do very long answers to avoid the proper answer. My interview with my current company; I made jokes and the HR recruiter laughed out loud. She straight out said I was pleasure to interview...these Carmax interviewers never said that. I wore business suit each time except my first time (for detailing) and with resumes. Again, I didn't turn one in the first time. I made the second interview on the first ever interview.
Another factor is...
My current employer. It's been proven that people have lost a better job offer and they WILL fight to get you back. Several months ago, I put in my two weeks notice and week later our corporate warehouse manager (The big guy who is just below the company owners) pulled me aside and asked me "What will it take for you to stay?" My older brother works at the company too but he wants to move to Atlanta to be with his friends. He put his resume onto Monster.com and somehow the 1st shift warehouse manager found out (probably HR.) He went to my brother and asked him in a very unprofessional tone "So Georgia huh?" When my brother told me about that, I actually wonder if Carmax did call my employer. Maybe something like this happened? "I'm from Carmax. (My name here) has applied with our store is she lying about current employment? How good of employee she is?" My company's reply hang up the phone or "She's terrible worker: Always late and never wanting to work" Just so they can keep me cause I am always at work, always early, always working.
What they don't know is: I hate my job completely! It's boring, dead end, and sexist (many men believe warehousing isn't for females and they shouldn't be on forklifts.) In fact if they ever fired me on the spot; I'll probably yell back "Thanks I think you just my worst year of my life, more better for the good!"
Who knows what could happened?
I will tell you that at least in my experience when I've selected a new hire that person usually is a pretty clear choice after narrowing 100 applications to 4-6 interviews.
I hate to admit this to people since I am from a generation that is known to be slackers.
I LOVE to work...more work for me the more happier I am. I'm naturally active and I hate to stand or sit around doing nothing. If I do something incorrect; next time I know how it's done and follow it forever. I am the type that I describe "You want me to jump. Okay how high and how far?"
Right now, my job requires me to sit on a forklift. I pick my orders and stack them the way we're trained. Every five-15 minutes; I get off the forklift and tag each single product for any pick errors. Then I throw all the stacks into a 53 footer trailer. When I first started; took me about 15 minutes to pick one page of six lines. About three and half hours to load up double stacks. Now, I pick about four to six pages in 15 minutes, hour and 10 minutes to load up trailers. Talking about zzzzzzzz
I'm suppose to have only five errors for 30,000+ lines for the year but somehow I got 30 (I think the whole don't care about my job is the answer.)
What do I have to do to get back to days and to a job that I enjoy doing??? Also challenges me at the same time?
If Carmax takes a car in poor condition in trade to help sell one of their inventory cars, or buys a walk-in car in poor condition, wouldn't the car be a "reject" for sale at Carmax and therefore go to Auction?
"Auction" vehicles are vehicles acquired by dealers through the trade-in process as well as various types of fleet, program, or rental vehicles.
Is there a place here or elsewhere I can go to read and learn more about the Auction? For example, is there one big Auction or several small ones? How often do they happen?
If I go to a dealership (or Carmax) in southeast Texas to shop for a used vehicle, I'd like to fully understand how and where the vehicle came from. I'd like to know (or deduce) if it was a lease-return, rental, program, trade-in, corporate fleet, etc. vehicle. And, I'd like to know if it came from a harsh-winter (salty) area of the country.
Bottom-line is, I would like to get a better understanding of the "big picture" of where Carmax cars come from.
-Gary K
Ask to see the title
"Imports are superior"
Not quite sure what you want to know about auctions. They're dealer only affairs. The reasons cars are taken to auction by dealers vary - some because they won't sell well at a particular stores, others because they haven't sold in X days, and still others because of quality issues.
There is no better source of info then having the title in your hand to the car you are considering buying. It tells the true tale as to weather you are dealing with a clean title..
Yes there may be the rare instance when the title is screwed up but no where near the amount of mistakes you will find on Carfax.
"Imports are superior"
Exactly why I'd like to understand this better.
Example scenario: Here in warm climate SE Texas I go to a Carmax or dealer used car lot, see a used car, and consider purchasing it. Now first thought is, someone traded this car in locally. However, Surprise! The car really came from Auction, is a 25K mile Lease-return, and originated from a rust-belt cold climate salty road state.
If I knew the car came from the local no-snow no-salt climate I would be more inclined to buy it. If it came from snow/salt climate I may very well pass on it, or at least insist on more undercarriage inspections.
The "Auction" makes this scenario possible. The Auction can make what appears to be an attractive used car with low miles and an easy previous life turn out to be something different, and could have come from anywhere and from any numder of sources.
I still don't know, is there one big Auction, or are there several around the country, and how often do they happen?
-Gary K
-mike
-Gary K
First, the Lincoln Town Car I purchased was a lease car from Hawaii. I looked at and purchased the car in the evening and did not notice until the next day that the exterior glass had what appear to be water stains. The stains have not diminished despite numerous applications of various products. One product's website mentioned Hawaii's volcanic vog - I wonder.
A little thing, but as I left carmax I heard a little ticking sound coming from my left front tire. The next morning I took the car to NTB and learned that a large nail was in the tire, too close to the edge for repair. I bought a new tire.
The night I drove the vehicle home I also noticed that the seltbelt chimes sounded (5 sets of 5) even though the seat belt was fastened. I also occasionally got a new set of 5 chimes when I hit a bump. I took the car to the local Lincoln dealer who told me that the car key provided by carmax is an aftermarket key that apparently did not have a proper computer chip. I paid $350 for two new keys with the proper chips and remotes.
Now, the car has an intermittent problem with an engine surge when I come to a full stop.
That is just part of the story.
A dealer may send a car to auction because the car model does NOT sell well on his lot. An economy car at a high-end dealership or a Saturn on a Ford lot in many cases is a boat anchor for that dealership.
Also, many of the vehicles that go through auctions are fleet returns - corporate, rental car, etc. Each year, I send 5-10 cars to various Mannheim auctions as selling cars through the auctions is very convenient. For example, I am in Chicagoland and my sales guy in California has a vehicle in LA. It is a lot easier to sell the vehicle through Mannheim than to try to sell the car from Chicago.
Think about it, there are not going to be 1000 cars running on two lanes in one day and all sold at a loss to the seller. Someone other then the auction has to be turning a profit on the cars or they all would not be there.
Look at it from the other side.. Assume that when you sell your car, the only car you can have to replace it is the trade-in from your buyer. What are the chances that will be the car you want? Almost less than zero... that's why individuals rarely trade cars with each other.
But, if you could go to the auction, and pick from over 1000 cars... every week? You can choose the colors, options, condition that you actually want.
That's what a dealer does, if he is serious about selling used cars. He picks the exact cars that he thinks he can sell.. That is the main reason that a dealer might give you even less than auction value for your car. Because, he can go to the auction, and get a more desirable car.
When you are done with your current car, and trade it in? Most likely, it will be an auction car..
Caveats: If a used car dealer has a late-model Euro import with low-miles? I'd wonder what was wrong with it, that the new car dealer didn't want it for his lot.. Previous body damage, MBB/NW, etc..
regards,
kyfdx
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-Gary K
Kenosha Carmax threw the xA back on the lot within one week. It had sticker price of 13,700 then no one would buy it at that price. So it went down to 12,700 and someone bought it or they threw it into their auction.
"Manheim auto auctions" and you can read about them and see all of there different locations or do a search for "ADT Auto Auctions" and you can read about how they used to be the big dogs until manheim bought them out.
"Imports are superior"
1. Which source do people report being the most accurate in terms of what carmax paid them for a straight sale of their vehicle? KBB, NADA blackbook, edmunds, etc? I've heard various ones mentioned as what carmax pays. I know it varies by demand and location and other factors, but why do they mention KBB if they know they won't match that price on trades? Seems self-defeating.
2. Is a 2003 near luxury class car with 73,000 miles too old or high mileage for carmax to sell on the lot? If so, am I correct to assume it will bring less if they have to wholesale it?
3. Has anyone discerned a particular percentage spread or dollar spread between carmax's advertised price and what they paid for the vehicle? I'm assuming at least $3-4K to cover their overhead, direct and sales costs, and profit margin.
I am clear on one thing after checking their prices periodically for a few years. At least on nearly new (1-2 year old) vehicles they are often disturbingly close on used cars to the price of just buying the car new. I wouldn't mind buying used in some cases but the long term value just hasn't been there when I checked. Carmax does go a long way toward eliminating the risk of a disaster purchase, for which they deserve a higher price. But it seems too high for me.
I also noticed that sometimes their no-haggle price is about what a dealer would advertise a car for. I guess you could get the same "no haggle" experience at a traditional dealership if you were willing to pay that much!
I also note that many dealers I've dealt with were so annoying to deal with that people gladly pay more to avoid that experience. The good is that dealers will gradually improve business practices due to this phenomenon. I've found in recent years that new car purchases were much more pleasant at dealers, since you can compare prices and simply buy elsewhere. Carmax should help keep used car dealers on their toes too.
Exactly, I have said it 100 times here. If you are willing to pay above retail then we are all no haggle. Just walk in and say I will pay sticker on any used car and the haggling is over. Its what you do when you go to Carmax.
If a customer comes to our lot and says they have been to Carmax already it is almost a guaranteed sale with a good gross.
"imports are superior"
I'm just wondering cause some consultants brag and some are humble.
That is the main reason that a dealer might give you even less than auction value for your car. Because, he can go to the auction, and get a more desirable car.
I agree, I would only pay more for a private party sale than any dealer sold car - and then not by much - if you could see the owner had the car since new, had all the maintenance records, and perhaps even an extended warranty you could transfer for a modest fee. Easy enough to check the seller's story with CarFax, AutoCheck, or just looking at the title before you purchase. Once the car has gone through any dealer, I would assign no more value to a traded car than I would to an auction car. As you say, most of the auction cars were just trades at another dealership. Lots of folks seem to shy away from lease cars as if they have the plague, while it could be true that some folks might not care for a lease as much as they would a purchased car, the lease banks still require that they do proper maintenance on them. Besides, most lease cars a low mileage so not much of a risk. I would worry more about rental cars, since we all know we abuse those when we have them . Of course, a lot of the rental companies take better care (fluid changes, etc) than any owner ever does. So in the end, where it comes from should not matter.
In the case of buying a used car from CarMax it really should not matter since their price is SO HIGH compared to what you can buy the same car for elsewhere. I am sure the no haggle draws lots of folks, but I don't mind a little work to make a better price and it would take almost no work to get below a CarMax price.
And you are right on the purchase by CarMax of your car as well, when they first opened here they gave KBB numbers for buying cars and though they still use that for reference they quickly figured out that the same car they offered you $10k for could be had at the auction for $9k so they offer you $9k or even $8,5k. So you really ended up being better off to get ripped on a trade than to get ripped at Carmax.
They must make oodles of money, since if you know what they offer for used cars and see auction prices, then see what they sell them for (with no discounting of haggling allowed) there is a LOT of profit it would appear - as much as selling a new car?
Dennis
Since you asked, 2005 Honda Accord LX I4 AT sedan with 45k in like new shape with new tires and service records.
Carmax offer: $11,000
Dealer offers (when offered as trade toward a new vehicle purchased near invoice less all incentives): $11,500 - $12,500.
When you check the Carmax inventory nationwide they have many (35) 2005 Accord LX sedans in stock ranging in price from $14,998 up to $19,149 with mileage ranges of 5k to 77k miles.
Quite a nice mark up, one I would think any new car dealer would love to make on each sale.
Dennis
Mack
"Nissan is a superior product"
Dennis
Loaded question for you mac. What would a consumer have to do to get the thin profit margin on a used car as they do on new cars?
In some states, getting your dealer license could be quite simple and not very expensive. With the license and cash you could buy your own cars at auction.
Failing that, there are usually some "dealers" that have "lots" near the auction site. For a fee they will find your car at the auction and buy it for you, since they have no inventory and only buy the car you want and sell it to you immediately they should be able to offer a very attractive price.
Dennis
Many Interesting things about CarMax:
Selling your Car to CarMax?
Well if someone wants a super great offer on his car he should put it in the paper test drive with strangers, have odd people at his home and awnser lots of phone calls at his house. The true irony comes when me as the CarMax (former) guy says "Oh yeah hmm you've said lots of info about Kelley Blue Book/NADA and so on and that you think 12k for your car would be fair...What may I ask is your payoff to the Bank on this loan" and watch people sheepishly say " My loan payoff is 12k"......(This isnt always the case but 9 out of 10 times it is.) Your payoff has nothing to do with your cars true value. Note at the bottom of every Kelley Blue Book estimate is clearly said: this is not an actual value this is an estimate and should not be used in transactions, true value of your car should be determined by a physical appraisal.
Working there;
What about the Various Departments?
The Buyer Position pays well and is a good job. The Business Office Clerk is OK too. Service Guys love working in a lovely service bay that has A/C and is clean and the pay is good. CarMax really underpays its SALES STAFF and is in no way competative with the field of Auto Sales whatsoever. No Joke, the Wash and Vacuum kids make more than the majority of the Sales Staff.
How are the Benifits?
Fair overall, the Dental is good the Vision is so-so. The Medical has a high Co-Pay and you have to pay for it monthly...its not cheep either. The corporate geeks are always negotiating with the providers so the Benifits tend to change.
What of the Hours?
The SALES GUYS seem to think the schedule is good but end up having to work alot because the pay is so bad i.e. commision only (tiny small commision on each sale.) SERVICE GUYS love it and say its the best garage they have ever been at. BUSINESS OFFICE clerks could be there finishing up paper til midnight. The BUYERS DEPT seems content and happy with their hrs.
Business Practices?
Truthful and Honast. Im still puzzled though as to how they buy cars at 500 below Kelley and sell them at 700 (usually) below Kelley Retail. With a clear profit of about 3-7k but tell everyone they only try to make $1600 on each sale. They say that they put thousands into reconditioning each car...thats a joke and soon to be an inditement for money laundering/false tax right offs. Or then again maybe thats why the Wash and Vacuum kids make more than their Sales Staff.
Would I buy a Car there?
Yes.
Would I work there again?
Someone really needs to sit with the CEO of CarMax about the way they pay their Sales Staff. But yes pehaps as a Buyers position. Or the guy that fixes dents and scratches he makes like 4-5k per month!
***Best Insight***
CarMax was and is an affliate of Circuit City: the company that replaced your Electronics Saleman with the kid from McDonalds to be your helpful advisor.LOL.
Thats why everyone goes to Best Buy now. Their menatility on how to pay and treat sales people carries on in CarMax.
Dave
One day, she had the courage to ask me about my employer about possible employment. She knew how much I was making and I know her Carmax skills she would make good warehouse clerk. We have reference hiring process and I actually offered her that process. But I think what scares her is the fact she might have to operate a forklift because she said "I rather drive any car over a forklift anyday." She could be making $20.00 hour and all the overtime she wants. Including full insurance benefits, 401k, profit sharing bonus (was $1,200 last year), end of the year bonus, weekly sales bonus, six month employment sign on bonus (about $2,000)...she said "No." All she has to do is attend the safety warehouse equipment course (kind of like Driver's Ed) on the first day and stand or sit behind a desk all day while doing data entry stuff like warehouse stock in and outs forms that dock workers fill out, reply & send to e-mails about vendor problems to the head manager, and talk with truck drivers by stating what dock they should back in their trailers to. All that for least 38,000-40,000 grand a year at private owned multi-billion dollar shipping supplies company and she still said "No." lol
Anyway please tell me they least get some type of bonus for hitting certain sales mark???? If they don't; I'm going to say this "That's screwed up!"
I have friends and co-workers that buy from them, and pay as much for some used car as they could a new one on a deal. I offer to help them negotiate and steer them to dealers I have worked with in the past, but they just find the concept of dealing beyond them, I guess. No kidding, when the run an ad in the newspaper quite often they list a 1 or 2 year old car and the price CarMax has is nearly the same or even higher than a new car dealer's ad for a NEW car of the same model.
There is something to be said about loathing to haggle and the constant worry some folks have that they over paid, got ripped, or could have asked for a lower price - but EVERYONE that buys from CarMax overpays.
Dennis
I bought both Scions new xA for 14,500 and tC for 17,780. xA had step above basic radio and floormats other than that it was basic. I was told by my sales consultant that they can go below the 2.00 difference and if they did Toyota will yell at them. She explained that couple of costumers have gotten the price tag below it and Toyota yelled at them. Which means Carmax got busted few times for selling Scions below the invoice by Toyota.
If there is one dealer that would put the CarMax business plan to the real test Youre right it would be Scion. Ironically they disclosed in Forbes Magazine they are attemting to copy the CarMax buying experience.
Ya know a car these days is estimated overall to have 5-8% retail markup/profit margin...Your furniture has a 200-400% retail mark up, your bed you sleep on 300-400% retail and the clothes we wear wins at least with 100% retail profit margin. LOL However You and Me included both become Businessman Good-Deal experts when it come to cars. Where we get really huff and puffy is when we see how our cars have depreciated over two years. Overall if anything Id pay a little more to get some great service and have a fun experience in my purchase...CarMax offers that to many people.
I drive an xB as my snow day car, but I didn't play that full price game with them. I purchased one of their loaner cars with 3k or so on it and lots of free add ons (upgraded stereo, spoiler, mats, fog lights, etc) and even had them toss in the cruise for $150 as well. They had just dropped the price when I snatched mine up and it was a nice price.
I avoid the depreciation blues by leasing most of what we drive around here. Let the lease bank take the risk and no trade in hassles.
My dealership experiences are almost always first rate - I just don't deal with dumb dealers. I have purchased from dealers all over the place - going where the deal is right on the right car. Never have to argue or fuss, get the prices worked out in advance, then just show up, check the paper work, sign, and drive off. The Scion dealer was no different - better or worse - than my other recent experiences.
Dennis