3 REASONS to AVOID Buying from CARMAX in 2024
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- เผยแพร่เมื่อ 7 ก.พ. 2024
- CARMAX is screwed... unless they take drastic measures. In this video I talk through the 3 Reasons to AVOID buying a vehicle from Carmax. New and Used vehicle prices are spiraling downward right now... and Carmax isn't keeping up. They have failed to drop prices enough to remain competitive. The car market is crashing before our eyes right now, and the numbers prove it. If you've been on the fence on buying a new vehicle, patience will prove to your benefit, I'm confident. Wait until we get deeper into 2024, you'll save thousands!
Let me know your thoughts, did I miss anything? Would you agree? As always, I sincerely appreciate you watching and supporting the channel. If you haven't already, please consider Liking and Subscribing, it helps tremendously! Thank you!
-Stay Untamed...
#carmax #carmarket #usedcars #marketcrash
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@untamed_motors - ยานยนต์และพาหนะ
ANYTHING is better than the hassle of a regular dealership, their haggling nonsense, etc.
Forgot to mention Carmax has 30 day 1500mi return/exchange window. And 90 day 4k mi limited warranty coverage. Have the car checked after purchased. As far as financing, you can bring your own. So you don't necessarily have to do financing in house.
Return/exchange ONLY, not refund! So if you do not like this, you have to pick up that from their lot, not elsewhere.
@@kenty6973 that’s not true, you can do a Full Return or Exchange within 30 days of purchase . If your consultant tells you any different it’s a lie.
@@kenty6973I just returned my car the next day. An Audi etron with 37k miles. I didn’t test drive because I bought it online. When I got there crack windshield, brakes sounding loud and right axle problem. I told myself good thing I got the warranty but before I told myself screw that and returned the car. I got my down payment back. Only advantage for CarMax is that.
I meant return OR exchange. No restocking fee, deductions, push backs as long as your within 30days/1500k miles. Your get your whole down payment back. I'm speaking from experience.
@kenty6973 I returned my car the next day and received my refund check within a week.
Nobody is even out shopping for one there. Nobody can buy a new car now days unless you are rich. The middle class is being killed off
My carmax in california had a 2 hour wait to test drive on saturday. They are doing fine here.
Exactly
lol they won’t even help you if you don’t have an appointment at my local store. Regular dealerships will jump on you and never let you walk.
As a commercial driver, I see CarMax and the other online auto dealerships shipping vehicles all over the country. As for the financing, that is another discussion.
How about NOT going into debt for your personal vehicle.
Some don’t have choice
@@Davidh741maybe but they have a choice on the amount of debt.
Everyone has a choice
Not everyone wants to drive a broke down beat up used car 🤷🏾
@@D_slade just because a car is affordable doesn’t mean it has to be “broke down and beat up.” there’s nothing fun or sexy about debt.
I worked for 4 "regular" (i.e., organized crime) dealerships, and there were always a LOT of new and used cars that had been on the lot, never started, for months. Often, when we needed to move them, they had to be jump-started.
Same, and when friends or family needed to buy a car, I would send them to carmax.
I just wanted to tell you that I only recently came across your channel and I love it. Thank you for all of the great info! Nice work and keep it up!
Thanks a ton man, really appreciate the kind feedback and support! =]
I lasted 5 minutes into this video and could not disagree with you more. I have purchased a few vehicles from CarMax and will continue to do so. Point number one. Vehicles are not meant to be used like natural resources are. They are as needed. I am not going to get a sedan when I need an SUV or bigger. As for sitting, that might depend on the climate/location of the vehicle. The closer to the coast, this be become an issue with salt in the rainwater. Being in a desert has heat being an issue. If you notice, places like Texas and West have vehicles under shades. But the heat isn't that big of an issue since the roads will always be hotter than the actual temperature. Second reason. Finances. The cost of the vehicle should have already been taken into consideration. If not, you are not as prepared as you should be. As for using their financing, that is your call. Third. Why are you at a CarMax before you have done your homework? But then why would you buy a new vehicle?
I juat purchased a 2015 4runner Limited with 88000 for $1200 below KBB and NADA. The interest rate was spot on what my CU was offwring with my 800+ credit score. They are repairing everything I pointed out without question. They also gave me more 7:44 for my trade than anyone else.
Great advice thanks
A brand spanking new one from the dealer by me was 47-49k. I’m not comfortable paying that.
Spot on about car-rot with so many used vehicles everywhere. Used car inspections prior to signing the papers is more important than ever.
Imagine Carmax reaction catching this guy recording at their lot!🤣
Haha I don’t hide it. I talk to them while I’m there.
What are they going to do, call the rip off police? No one's going to show up, just like the government & manufacturers.
Why would that matter? Their information is online.
18 percent interest is for challenge credit. Carmax will go down to 5.49 with excellent credit which is lower than a credit union.
CarMax is good for one thing only IMO - getting a quote on trade-in value. It can serve as "one" data point in evaluationg what your car might be worth trading it in on a new car purchase somewhere. Naturally, you'll want to get several additional quotes.
Great channel, great advice!
Don't buy from any car broker. They are part of the problem of why vehicles are so damn expensive and not the solution.
Great video Untamed, calling out these dirty dealerships. It’s nice to hear the truth 👏🏼👏🏼👏🏼👏🏼👏🏼👏🏼👏🏼
its the poors who are too dumb
Heck yes. Carmax will low ball you. Beware
What truth? I completely disagree with this video and will continue to. If that is an opinion, is video is an opinion.
@@kevinphillips150 Calm Down Kevin. Everything will be alright
10 day no questions asked is a big deal too
Carmax is one of the best places to buy a car. No high pressure sales tactics. No gun to the head sales managers. I have purchased 2 cars at my Carmax in Florida in the last year. I bought my 2020 Tundra with 30k there, right across the street from the Toyota dealership. You couldn’t pay me to buy a car from the sleezie dealerships. I love the 30 day return policy which I used in my daughters case. I love the 90 day complete warranty and their own extended warranties you have the option to purchase are the best I’ve ever seen. If you are upset that their prices are lagging the market on the way down you should be able to also appreciate the prices remaining lower on the way up.
😂ok Carmax!
I was a former tech at carmax and I can tell you that you should never buy a vehicle from there. If you saw the repair process they have now you would be shocked.
@@Aaron-or6ovAs a commercial driver, I believe what a mechanical tech says as much as I believe a politician. That is what warranty's are for.
I only purchased very low mileage cars from CarMax, 6 so far and I think their prices are on par with regular dealerships. I really hate haggling at car dealerships.
I just bought a VW Arteon with 59k miles from CarMax for $21k at 7% interest. I put 60% down so didn’t finance the whole thing. It was actually priced lower than many other dealerships and 7% is a bit much in my opinion but it’s a lot better than the rates you showed.
In today’s age, that’s a really good rate. My credit Union currently offers 6.97 lol assuming you can qualify of course
2024 4Runner SR5 Premium 4x2 - TSRP $50,243 - Sale Price - $49,144
On 03:38 you are showing a 2021 model for 34.000 and saying `go and buy a new one.`. Thanks.
Same with the Audi. A Q3 sline premium plus 45tfsi with tech package MSRP is $46+k, so $10k more than the one he showed at 8:31. 36k kinda make sense at carmax. I wouldn't buy it either used or new though.
Love these vids, great job!
Really appreciate the positive feedback! Thank you
Appreciate your suggestions to us. Thank you.
Thanks for the positive feedback!
Do you have a favorite website for looking up used car sales?
Not carmax..thats for sure
Great job
My wife just got a 2014 mini cooper from CarMax. The experience was surprisingly good. I don’t like the mini cooper. If it were me, I would never get one. That said, the financing was better than what I could get from my own credit union. But we had excellent credit, and will pay it off in the next month.
totally not like i work at KMX and sold a car yesterday with 5.25% at 10% down which was 2% lower than their credit union BUILD YOUR CREDIT BEFORE BUYING!!
they have patient investors.their setting on tons of depreciating assets.sooner or later its going to hit the fan.
Carmax is the payday loans of car dealerships
Accidents on some of these cars almost never report it
Do your homework. CarFax report.
I have had good luck with carmax, I only buy cars with no more than 2000 miles. My 2020 pickup had 540 miles and I just got a 2023 rogue with 1300 miles.
That is great to hear! Hope you enjoy the rogue. =]
Your advice on buying used 4Runners from Enterprise, Hertz etc.
Thanks for your videos.
Appreciate the kind feedback! Thank you.
Appreciate your information!! Delightful family!❤
Thanks a ton! =]
A few years ago I went to CarMax I wanted to get a car from them. Keep in mind I have a 795 credit score. They wanted to give me 14% APR. 😂 what a joke
What kind of car were you trying to get? For a credit score like that you wouldn't expect to get hit with such a high interest rate unless the vehicle was a bit older with high miles.
@@TheAwesomeAdonis he is blatantly lying I have just say mid 600 credit score got approved for a kia k5 24k$ car with 4k down and my apr was only 7%
Can you vlog about CarMax's 30-day return policy? Is thee some catch? Would it be like renting a car for 30 days for free?
I prefer not to buy with them because of the pricing. They take too long to catch up to the current market and they won’t negotiate. I do like the way they do business though. Seems smooth and efficient. I like being able to pay to move cars too.
There is no need to negotiate. That is the point of going there. If you choose to use their financing, that is your call. But at least do your homework before going there. Like the American Express Card, do not leave your home without a pre-approval.
Carmax is a good resource if you are selling a vehicle and looking to get top dollar which I did two years ago. However, for the reasons detailed in this video, I would NEVER purchase a vehicle from Carmax.
I'm a Toyota guy. In fact my whole my channel is about Toyotas...but who in their right mind would ever pay that for a 5th gen 4runner? For 50k there are so many better options for vehicles, both from an off-road capability standpoint and a practicality/comfort standpoint. That is NUTS! I had no idea interest rates were that high either. Insane!
Yeah the prices here have gotten a bit out of hand …especially given the current market. Love the channel btw (especially LC content)! Keep up the great work.
Looks like your dealership out there is ripping people off. CarMax over here in Southern California has that same Mini Cooper for under $20,000. And that is at all Carmax's around here.
Prices are actually inflated by 30 to 40 %. They will plummet. No different than housing crisis. Supply demand and covid. Now demand is going down
I'm planning to get a 5th Gen 4runner before they are gone. What are your thoughts? Should I wait for more discounts? When is the best time for the new 4R in 2024? Thank you for the content!!!
I think 5th gen 4Runners will be readily available through August 2024... so no rush. But the race to buy up the last ones will begin in Sept. Think you'll see 4-6K off between now and Aug. You won't regret buying one imo.
Never again will buy a car from there, I bought a lemon there
I’m sorry to hear… though I’m sure you’re not alone on that experience.
Obviously bringing your own financing is a key
I just watched a video that was pro CarMax, then saw your video. Both videos make sense depending on where you're at financially and whether or not your good enough to deal with a scumbag car salesman at a used or new dealership. I believe the costs are higher at Carmax because of all those guarantees, return option, and 24 hour test drives that other places are not going to give you. At the end of the day any car transaction, is a lose-lose when it comes to your wallet, just depends on how you want to "eat it".
Your knowledge and advice is always appreciated.
Thanks brother. I really appreciate the kind comment and support! 🙏🏼
I may buy a Carmax car. You can take it back for refund or switch cars. 150k bumper to bumper warranty available.
72 month loan is insane.....if one cannot afford 48month payments, they are buying over their financial heads
Great video keep up the great work TY
Thank you for the support! =]
cars not lubricating for sitting ver 45 days?. brother cars will not get damaged after sitting for a few months. worst case scenario battery dies tire goes flat and rubber gaskets gets worn prematurely.
Wow, won't step foot on their lot. Was going to buy a car this year but decided to wait until next year as prices, interest rates, and insurances are ridiculous.
Lovely family. Thanks for the tips.
I really appreciate that, thank you! =]
Don’t buy a car from carmax. I worked as a tech there. At first when the store I worked at opened it was all about quality. But wow that changed fast. If you saw the repair process you would never even step on that dealership.
Great job 👏🏼!
Thanks a ton! =]
No one should be taking a 72 month loan on a car. If you don't have 20% down and can't afford payment at 48 mo terms, find a less expensive car or save more money.
Bring your own financing to ANY car deal.
Spend two months (at least), not days or weeks, researching prices.
Tried to buy from CM twice both time on cars I was ready to buy-both occasions the price was in excess of 20% high and the interest rate was double what I qualified for-an it’s simple take it or leave it, so I left it
There are 2 problems with buying a car or truck from Carmax, their prices and their interest rates. Both are insane, and you would have to be crazy to buy anything from Carmax.
just rent a car as and when required.. works for me.
Excellent channel; my little one wrestles as well.
Thank you for tuning it! Appreciate the support! Nice! My little guy LOVES it. haha.
I would prefer to haggle. If I have to spend 3 hours to get 3000 off I am good. I am making 1000/hr.
Basically today’s CarMax is a tech company that sells used cars. But this content is typically for views. Let’s talk about financial health and the balance sheet (EPS, EBITDA, etc) when we truly want to talk about a companies overall health. A lot of consumers are willing to pay more for the experience and simplicity of that said overall experience. This is where CarMax comes out on top. And no, I do not work for CarMax. Just someone here that reviews a companies financial health before saying they are failing or in this case “DONE”.
It's the 3 p's: Price Price Price
We appreciate someone with a platform calling these crooks out for what they are! Never buy from carmax!
How is Carmax a crook? He’s pointing out that they have a flawed business model that doesn’t allow them to respond to market forces in a timely manner. As for their interest rates, nobody is forcing you to use their financing company, you can go get your own loan somewhere else if you’re able to.
I would never buy from the, or any of those other online dealers, Never.
I use AAA buying service,
Aren't you the guy that bought the escalade and had to sell it back and loose like 20k?
Everyone of these corrupt car dealerships deserve to go under and you can quote me on that!!!!
Agree. Carmax is the worst of the worst. They will offer you 8,000...then when you get there to sell your car to them, they adjust their offer to like 2,000 for any little hair size scratch or bb sized insignificant ding.
Quote - Everyone of these corrupt car dealerships deserve to go under - End Quote
Interest rates are not high, they are normal. Anyone who says they are high has no idea what they are talking about. You cant have free money forever. So stupid.
I had been in carmax dealer and I also checked their prices and they always have a high prices and interest rate.
Hey untamed! I’ve always had this in the back of my mind while watching your videos. How do you not get assaulted with salesman while you’re just walking around with a video camera? Lol is there like a mutual agreement you say before you start filming when you walk around all these big dealerships just curious.😂
I just ask if I can walk the lot and shoot a video for my personal TH-cam channel. Nobody has ever given me grief about it. They might have given me a hard time if they knew the topic lol…
lol 😂 I love that 😂 meanwhile your criticizing their crazy prices and insane interest rates. By the way I’ve never bought a brand new vehicle and I actually just bought one a 2023 XLT F150 in avalanche gray with the v8 of course 👌which I love by the way at 1.9% interest through Ford the vehicle was actually only about $20 difference in payment compared to a used one, because of the insane interest rates and since I watch your videos all the time that’s what made me even entertain the thought and I couldn’t be more satisfied with my purchase especially with the 1.9% interest rate with ford
@@dillonwashburn8738 awesome man! Congrats! Good move on the v8 and going new with the 1.9 rate 👌 💯 Glad to hear you’re enjoying it.
you have to wait for a salesman at carmax. They are by appointment only where I live…
Yes but Carmax is also slow to come back up in price. I bought my Heritage Edition LC200 there in 2021 with 7k miles for $79k. Like all things timing is everything
I’m upside down $17k fooling with Carmax. Never again. 😢
Beware out there if you are thinking about selling a car to carmax. They will promise you an offer of say 8,000...and then when you get there, they adjust the offer to like 2,000. The reason why? At the the in-store inspection, they have their 20 year old college kid technician inspect your car. They will dock off a thousand bucks for ahy little insignificant flaw your car has. If it has a hair scratch...minus 1,000. A 2 milimeter scratch in your hub cap minus 1,000. A teeny tiny paint chip from natural wear and tear where the door handle is...minus 2,000. And when the kid comes back from his nit pick inscpection...the offer went from 8,000 and is now adjusted to 2,000 because the car isnt 100% flawless. Its like, yeah, its a USED car, it wont be perfect, its gonna have a little wear. So you sell the car to them for like 2000 and they turn around and sell it for 14000 on their lot. Beware of carmax. !
Just wait for the 7000 new auto that stop the bs
11:26 the Sienna Hybrid LE is a $38,000 van
As if car lots besides carvana and car max don't let their cars sit lol
carmax used to be so good- they made a name and now they are charging peak for it.
California gas is coming to Colorado goodbye car lots.😮
I never have given a thought to this place anyway.
😅
4Runner or Tesla Model Y?
Why I listen to you? My car is doing great when I bought a car from Carmax.
Carmax is now building a new location in Gainesville Georgia. Hard to believe.
Amazing, to me, that 2wd Toyotas
are sold in your area.
Haha yeah I was kinda shocked to see that too 😆
Carmax is only good window shopping and test drives.
$57K for a 4Runner TRD Pro is so ridiculous I don’t even know what to say.
Why would someone voluntarily borow money to buy a car? My father always said. Start out with junkcars and upgrade as you progress in your career and can afford it
A 4Runner SR5/TRD OF premium brand new is going to be in the 47-49krange
So ur advice is DONT buy a car until 2025 😐🤦🏽♂️ or buy 15 k out of pocket….
How about some advice for good places to buy a car
Must be new to the channel. I provide that all the time.
He pretty much advocates going into a dealership and fighting with them for 8 hours for a good deal.....just go to carmax, even if the normal dealer advertised a cheaper price with all the fees and add ons....it's nof cheaper and you saved 6 hours of heart ache. also carmax has a 90 day return policy if it breaks.....
@@kurtrussell5228 if it takes you 8 hours to negotiate a good deal. You are exactly the type of person Carmax preys on. 👍
@@UntamedMotors oh, and i suppose you walk into a dealership and walk out with everthing you wanted in under an hour......well good for you, you're so much smarter and better than 99% of everyone else.
They make deceptive content and prey on clueless followers.
CARMAX IS BETTER THAN DEALERSHIPS. These are the reasons.
1. They post their prices and fees upfront. You know what you are paying for in terms of taxes and fees. It's just like going to the supermarket. If you don't like their prices, don't buy. It's a choice. Stop ranting.
Dealerships are very deceptive with their prices. Some have hidden fees as much as $10K . The average dealership add-on price when at the time of payment is $2k, and you are ranting about Carmax?
2. Carmax has competitive prices. Yes, you heard me right. Their prices are competitive to dealership prices. It's so idiotic for people to spend their time watching funny content when they can just search from the internet. Just go to Carfax or Cargurus and seach the same cars in question. You will be surprised that the prices are the same. Remember, they have no hidden fees.
3. He mentioned that their cars are suspect. Are they not buying their cars from the same auctions as dealerships? Are they not also receiving cars from trade-ins? Do you want to tell us that dealerships inspect their cars more than Carmax?
Also, they have a 30 days return policy and 90 days warranty.
Most dealers sell their cars as-is and will not accept any returns after 2 days. So tell me.. Do you trust a dealership or carmax on return.
4. You mentioned the cars are on their lots for 45+ days. That mirrors cars on dealership lots. This is now childish and ridiculous information.
5. Interest rates. Do you also know that the finance department in dealerships have higher interest rates? Do you know that dealerships sell you higher interest rates? Carmax may have some hight rates but it depends on your credit score.
Also, you have a 3day window to bring in outside finance and match their loan offer. Stop misinforming viewers.
I DON'T WORK FOR CARMAX BUT HATE DECEPTIVE CONTENT.
I am writing from experience. I tried to buy my most recent car from a dealership a month ago to no avail. That was my worst experience. I drove to 3 dealerships for hours to be face with their scam. Fake fees over 5K on the selling price. Trying to slide in fake warranties and vehicle prep fees at the time of signing.
EVERYONE THINK THEY ARE SMART WHEN BUYING FROM THE DEALERSHIPS. WHAT THEY FORGET TO KNOW IS THAT THE DEALERSHIPS SELL AT THEIR GAIN MARGIN.
As ridiculously cringeworthy as their pricing and interest rates are, they seem to be upfront and transparent about raking you over the coals. Posting their overpriced pricing and gouging interest rates on every vehicle for all to see. Car"MAX", the antithesis of a place called something like "Budget" Auto. Their name says it all. Thankyou for sharing.
Carmax will not exist in 24 months from now
Avoid carvana too
I dont get all the carmax hate suddenly? Are we down on video ideas? I generally think people are able to tell which cars are overpriced, or if they are, theyre ok with it to get the car they want now.
Carmax sells entirely used cars. Theyre subject to the market. The market sucks right now. Are they supposed to sell all their cars at a huge loss and make nothing? Theyll adjust as they need to or go under.
🤦
You must be a Car max boy, eh? You work for them? Why you butt hurt, bro? Relax and grab another Bud Light!
@@goaway1857 yup. All the above.
I have found Carmax in the past to be aggressive buyers hence I’d never buy a car from them
Anyone who is stupid would buy from carmax
The cars get moved around regularly to add more or re organize inventory, that’s false information saying they sit for 45 days without lubricating.
Re-parking a vehicle doesn’t count
Yeah, definitely doesn't count. Better than sitting without moving at all, but still bad on a car.
Car max employee alert, car max employee alert!!!!
@@thekraken826nah just sick of this society hating everything and TH-cam just being all negative for views.
I've commented in a few videos. I was at CarMax 10 years recently before going to a traditional dealership. CarMax does move the vehicles.. we print an aging report daily for vehicles/titles/funding. Yes some vehicles sit but at a point they will be moved to a market where there is more of that demand.@@thekraken826
Here's why you avoid Carmax... Their fixed price would be cool, if they priced their cars less than traditional dealers, but they don't. Oh, And they still wanna steal your trade.
I think someone is fourrunner shopping
lol not yet anyway
Carmax is sinking faster than the titanic
Lot rot
Not to be confused with a lot lizard.
Warms my heart to see car lots full of unsold overpriced cars