Carmax Took my 2005 GMC Yukon in to sell. They offered 45% of it's value on the open market. Naperville Illinois

I know this report is a few years old  but little has changed overall with carmax.  Our experience with carmax was extremely disappointing.  There is a fine line between appraised value of our vehicle and a complete rip off. We researched carmax before we came into the dealership so we had a feel in what carmax is selling our vehicle for in our location as well as across the country. Based on same year, options and condition and mileage and the fact our car is immaculate condition one owner, non-smoker with new tires, new battery, and all recent services done. There is absolutely nothing carmax needs to do this car to sell except to park it on the lot. When Carmax offer was presented  I can say we were both pretty amazed that carmax deem it necessary to make $4-5,000 profit...that is substantially more profit than the dealer made when we bought the car new.  To me, it raised all the flags that Carmax is far from a reputable dealership.  The offer was even couple thousand BELOW dealer trade-in value and in the range  to make that $4-5000 profit. Completely unacceptable. We don't need questions answered in how carmax derives their value, we know how they do it. Called being ripped off. We have no intentions of returning to carmax and every intention to spread the word to all our friends, all our forum contacts, all our social media outlets to stay away from carmax.  Its one thing to make money and another to rip off.  I know we will never use carmax for anything and I hope the more I put this out there, fewer people will use carmax too. No haggle pricing, no haggle appraisal...means rip you off coming and going.

 See I understand youre butthurt over not getting what YOU percieve as the full value for your vehicle, but theres more to the story then you know. As with ANYTHING on a used market, the purchase price is always going to include and reflect how many of a certain type of item they already have. If they offered you 45% of the KBB guide, then more then likely they have a larger then normal BACKSTOCK of that make/model of vehicle. You did NOT have to take thier offer. Its a offer, not written in stone until you agree to it. If you havent made the deal yet then you can still try and get what YOU percieve the value to be. Place a Ad in the local paper, try going to a different dealership and present this as a trade in. Try selling it on the street corner. But if you took the deal, then thats on you not Carmax. They can only offer you what they are authorized to. If you did not like the deal you did not have to take it.

As for your percieved value on your vehicle. The Kelly Blue Book is a GUIDE!! Not dogma. What they tend to do is gather information on car sales and then complie an amount based on what condition the vehicles were in. Its just a guide to give buyers and sellers an IDEA of what they can expect. The used car market is a little different. The price is whatever they can get for a vehicle. Based on useage and damages and miles put on it. If they can get a extra $5000 for a vehicle AND someone is willing to buy it at that price. So when they offer you 45% of the value of your car, its two things. One.... Buy low, sell high. Its called capitalism. You know the great machine that keeps America rolling along. Two....They probably thought that they wouldnt be able to move your vehicle in a timely manner. If they cant sell your vehicle right away, everyday it sits without selling is them losing money. They will have to answer to thier superiors about vehicles not selling.