Report: #1438342

Complaint Review: Carmax - Houston Texas

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  • Reported By: 6000 — Houston Texas United States
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  • Carmax Sw frwy 59 Houston, Texas United States

Carmax They try to rip me off on a trade in for a 2000 Dodge Ram the wholesale price is between 5000 and 6500 the Kelley's Blue Book was 10,500 they try to give me $2,000 for this vehicle I'm warning everybody stay away from these thieves they're Liars their thieves and they actually believe their own lies Houston Texas

*Consumer Comment: Value

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I went to CarMax to buy a vehicle and to trade in my 2008 Dodge Ram V6 that I only had for one year. I paid $13,000 with high financing charges and paid it off in less than one year. I make good money so they were trying to tell me that my wholesale value was $2,000, I just got up and laughed and left.

These people are nothing but lying thieves I am warning you do not go here, do not buy a vehicle here, do not go in there. These men are liars and they will be judged by God. All liars will be judged I don't care if you're at work or at home you will be judged.

This report was posted on Ripoff Report on 04/12/2018 02:59 AM and is a permanent record located here: https://www.ripoffreport.com/reports/carmax/houston-texas-77056/carmax-they-try-to-rip-me-off-on-a-trade-in-for-a-2000-dodge-ram-the-wholesale-price-is-b-1438342. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Consumer Comment


AUTHOR: Robert - (United States)

POSTED: Thursday, April 12, 2018

The "value" of something is what someone is willing to pay for it.   The interest rate, whether or not you make "good money", or the price you paid a year ago does not matter.

They were willing to give you $2,000 for your truck, it is up to you as to if you accept the offer or not.   There are many price GUIDES. These are not prices a dealer must accept, this is some company who comes up with what they feel a car is worth. A dealer is free to decide on the price they are willing to pay for a car. Just like the consumer is free to decide if they like the price offered. I can guarantee that if they offered you $14,000 for your truck you would not be here complaining that they offered you more than the "value" of the truck.

Within those price guides there are many different levels. They most likely gave you the lowest "Auction\Wholesale" value which is often 1/2 to 1/3 of the "Trade-In" value.  But also remember that a dealer can play around with numbers. They could easily make up for the Trade-In by raising the price of the vehicle you want. People spend much more time looking at the value of their trade than they do the value of the car they are buying, which makes this a lot easier for the dealer to pull off.

Your job as a consumer is to get as much for your trade as possible, while paying as little as you can for the new car. The job as the sales person is to give you as little as they can for your trade and sell the car for as much as they can. The negotiations between these values is part of the sales process.

In the end you didn't like the price, you got up and left. This is what you should have done.

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