• Report: #467691

Complaint Review: CARMAX

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  • Submitted: Wednesday, July 08, 2009
  • Last Posting: Thursday, July 30, 2009
  • Reported By: — PANORAMA CITY California
CARMAX
1000 SOUTH FLOWER ST BURBANK California U.S.A.

CARMAX TO DEAL OR NOT TO DEAL BURBANK California


2Author 4Consumer 0Employee/Owner

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I had gone to CArmax a cuple of months ago trying to sell may car. They offered me $10.000 for it eventhough the car had a KBB of 13k as a trade. Nevertheless I did not objection to the price because I decided to wait and place an ad on the news paper hopping I would get a bit more. Unfortunaly I got lazy and I did not place much effort into doing that. So today I headed back to Carmax decided to get rid off my Mini cooper and take the 10k they had initialy offered me. After the orde-taker had taken al my info, and processed the new apraisal, he came back with a new offer of $9500. I asked where had the other 500 have gone and explained to him that no more than 50 miles had been added to the meter on my car since my first visit. He run to the back of the building and come back with the "Appraiser" who tryed to persuaded me to sell the car. He said that it was a good idea to sell it now because the next time that I come back I was going to get much less for my car. he said that cars depreciate about 2k per year and that was the reason why his stimate had lowered. He said that it was a bad idea to sell it privately because there was alot of crazy people out there. Meanwhile I was thinking to myself "Well if a car depreciate 2k a year how come the same car I saw in your parking lot on my last visit still sell for the same price", I wanted to say this out loud but I decided that it was not worth it to argue. For what I understand there is no negotiations on ther prices, so I walked out.

Ernesto
PANORAMA CITY, California
U.S.A.

This report was posted on Ripoff Report on 7/8/2009 11:47:06 PM and is a permanent record located here: http://www.ripoffreport.com/auto-dealers/carmax/carmax-to-deal-or-not-to-deal-2faxx.htm.

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REBUTTALS & REPLIES:
2Author 4Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

Where's the ripoff?

AUTHOR: Flynrider - Phoeix (U.S.A.)

SUBMITTED: Friday, July 10, 2009

They offered you $10K and you didn't accept. Then you showed up a few months later and they offered you $9.5K. I don't see a ripoff here. Their offer is what they're willing to pay at the time you bring it in. Do you think your car is going to be worth $10K forever? If you think you can do better, then get off your butt and sell it yourself.
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#2 Update By Author

where is the ripoff??

AUTHOR: Ernesto - PANORAMA CITY (U.S.A.)

SUBMITTED: Sunday, July 19, 2009

Look, if they appraised my car $500 less only tow months after the first appraisal with the excuse that cars depreciate in value about 2G" per year, then how come the cars they are selling in their lot had not depreciated at all. And yes my friend I just sold my car to a private buyer for $12,800 and it only took me one week to do it.
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#3 Consumer Comment

Good for you.

AUTHOR: Flynrider - Phoeix (U.S.A.)

SUBMITTED: Monday, July 20, 2009

A car is only worth what someone is willing to pay for it. Selling directly to a dealer (i.e. not trading it in) will net you the car's wholesale or auction value. It's not a ripoff. It's just a fact of life. It is unreasonable to expect an offer to buy to be good for over two months. I believe Carmax even advertises that their purchase offers are only good for 7 days. Yep, here it is on their website :

"The written offer for your vehicle will not change for 7 days and will be honored at all CarMax stores. After 7 days, your vehicle will need to be reappraised and your offer may change. "

Again, there is no ripoff here.

Congratulations for getting off your butt and selling it yourself. If you were concerned about how much you'd receive for the car, this was the only reasonable route to take.
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#4 Consumer Comment

Good for you.

AUTHOR: Flynrider - Phoeix (U.S.A.)

SUBMITTED: Monday, July 20, 2009

A car is only worth what someone is willing to pay for it. Selling directly to a dealer (i.e. not trading it in) will net you the car's wholesale or auction value. It's not a ripoff. It's just a fact of life. It is unreasonable to expect an offer to buy to be good for over two months. I believe Carmax even advertises that their purchase offers are only good for 7 days. Yep, here it is on their website :

"The written offer for your vehicle will not change for 7 days and will be honored at all CarMax stores. After 7 days, your vehicle will need to be reappraised and your offer may change. "

Again, there is no ripoff here.

Congratulations for getting off your butt and selling it yourself. If you were concerned about how much you'd receive for the car, this was the only reasonable route to take.
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#5 Consumer Suggestion

Clearly You Know Nothing About Running a Business

AUTHOR: Sportsfan1999 - San Diego (U.S.A.)

SUBMITTED: Thursday, July 30, 2009

Actually, the cars in the dealers lots do depreciate over time. In fact, if a dealer does not sell a 'trade in' vehicle within 45 days, they may take a loss on it (sell it below the price they paid for it.) They may or may not reduce the price shown on the car, but they will be 'eating it' if the car hangs around for longer than 45 days.

As far as the price you received versus what you were offered--a dealer is required to go over your car and make certain repairs as necessary before they resell it. That costs money. The dealer must pay the service people for the repairs, the business office for processing the paperwork and ultimately the sales people for selling the car. The dealer must pay taxes to the city, state and Feds. They pay for workers compensation, unemployemnt taxes, property taxes and in most cases interest on the new cars on his/her lot. They also pay for insurance for things like accidents, damage and lawsuits. And don't forget rent on that nice peice of land everything sits on.

So you will rarely get the price you want by trading in your car to a dealer. The tradeoff is that it is much less hassle and you know the check is good. But by no means is it a ripoff.
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