CARMAX on Verge of Collapse 

Agree, they keep saying doom is just around the corner but it never happens.

​@Razor Sharp That's not Government's job. It's a free market economy.

​@Razor Sharp govt caused the problem to begin with, they cant fix it.

​@@nostradamus7648 nothing about our economy is "free market" lololol wow it's so wild to see there are people out there who still believe this fairy tale 😂

True dat

From my experience in average their cars were in better shape and better taken care of than most other used cars dealers plus knowing the out the door price right away on all cars meant that many didn't mind paying a premium to buy from carmax. Now with the pricing just getting out of control and people having less money to spend means costumers are more willing to work harder to get a better deal.

@@Cornelius87 why are people wearing costumes

@@FreeThink1984 lol give me a break man it's been a long day

@@Cornelius87 haha 😂

Bought our 2019 fusion new from dealer for 18,500 sold to carmax in 2023 for 20,500. Made 2000. Saved and got a cash car. Now no car payments. Thanks carmax

@@acer_triplexNow you still have no car!

Unfortunately content creators push false narratives. Everywhere I go I see people spending money.

I guess it just varies from store to store, ya know? I literally work at CarMax, and it has been BUSY for months now.

Location may very but we're looking overall

@@sociolocomtsac okay 👌

YES. This is very true. The majority of CarMax employees don't buy from them.

Usually Scammed Associates

So 15 years ago you liked getting ripped off? CarMax was never good.

CarMax was crazy high even then. I have no sympathy for them.

Why?

No haggling = get pre-screwed passively. If it's more expensive, that defeats the purpose.

They have competitors now like shift, vroom and caravan, and I even see a lot of mom and pop shops around me that are copying carmax. Carmax completely lowballed me so I am going to sell my car somewheee else that is going to beat carmax’s price

They take away half of a sales consultants pay if you have an appointment set up or have done anything online. So they’re trying to rush everything and don’t really care to provide a “iconic experience”. The appraisal specialist only get $25 if you sell them your Car, so they don’t really care, they’re not in charge of how much your car is worth. The offers are no haggle so they’re not gonna sit there and explain things or argue. It’s basically here is the offer, take it or leave it. Carmax has been trying new ways to reduce their employees pay and it’s reflecting on the customer service that you received.

they can't think along with SILICON BANK==same result

Ah, the good ole days before Carmax, Carvana, et al siphoned up all the good used cars to keep the prices high. Win/Win for the car dealers, Lose/Lose for the public. Yet the dumbed down sheeple continue to sell their cars to these crooks.

I heard they are charging for the shipping now

220 is nothing. 2,200 should be right

Ha. More like $7k-10K profit once you add on the transfer and adminstrative fees and extended warranty (and not even including the banker interest).

Carvana

They should both go out of business, liquidate all their cars so we can have a well deserved flood of used inventory that they've been holding hostage for all these months now demanding a king's ransom for them. Gimme a break, these are not car people running these outfits, maybe Carvana more than Carmax. They have no idea what they're doing. In a capitalist society you have the right to hit it big and make tons of 💰 and you also have the right to fail if you don't know what you're doing. See ya, wouldn't wanna be ya.

Both, at the same time. Ala SVB and Signature Bank. It's gonna be wild! Massive used car pricing event incoming. Anyone who held onto metal hoping to get back what they paid for the car at auction or gross out the car for revenue goals is going to get caught with their pants down face down.

i hope both.....i always despised both of them. they always have over priced stuff on their lots thus driving the average retail prices elsewhere however, their excessive pricing is why my 2022 car that just got wrecked got paid out $1000 more than what i paid for it new.

I’d say Carvana. They just seem sketchy.

BIden is just another sold out puppet of the small hat banksters (FED) behind the inflation....

You think $2000 profit per car on a thoroughly inspected and reconditioned vehicle that comes with a warranty is excessive? You're a fool that they don't need as a customer.

@@vincewatterlohn1474 If what you believe is true then why is Carmax, if what’s being reported is true, on the verge of bankruptcy? Here’s my story and experience with Carmax. I’m retired. I had not purchased a preowned vehicle in 30 Years. My son gave me a 1997 Jeep Wrangler TJ in 2018. It was a very basic bare bones Jeep. 4 cylinder engine 4 Speed manual transmission. My grandson is a certified mechanic so I had him customize, upgrade, and modify it. Last July I decided I wanted a more modern Wrangler with a lot of comfort options, so I gave the TJ back to my son. I searched for about 3 months for a preowned Jeep that met my lengthly list of criteria’s that it absolutely had to have. Basically I wanted a one owner, preferably locally owned, JK or JL model, accident free, never taken off road, never modified or customized, with a 3.6L engine, auto trans, with AC. After months of searching the internet the exact Jeep I was looking jumped up, and it just happened a local Carmax dealer had it. I was aware Carmax doesn’t negotiate price and you have to have an appointment to check out the Jeep. All of that was very different than any auto buying experience I’d ever had, but it wasn’t a deal breaker. Appointment or not I still had to wait nearly 30 minutes to speak to a female sales representative. She did her due diligence getting as much personal information from me that I was willing to give. The Jeep was finally brought around for my test drive. First problem: Carmax advertised a 24 hour test drive. I was given 24 minutes. I asked if the 30 day return policy for a full refund was still available. She affirmed it was. I didn’t need a 24 hour test drive to know I was going to buy the Jeep. It was in showroom condition inside and out. It was obvious this was the previous owners “baby”. Maintenance history indicated all suggested maintenance was done when recommended. It had numerous upgrades I wasn’t expecting such as leather seats, Alpine sound system, blue tooth technology, etc. I’d priced the Jeep on KBB and BlackBook before I went to the dealership. Best retail price was $26,000 for a 2015 Wrangler Freedom in showroom condition with 57,000 miles. Carmax wanted $29;995. IMO this was a one of a kind Jeep that met all of my criteria’s. I’d checked the original window sticker that’s available on line for all cars. The original sticker price was $32,000, but the price the original owner paid, coincidentally, was $29,995. Yep, Carmax wanted the original selling price for a 7 year old Jeep. Jeeps hold their value,…..but 100% of their original selling price!? No, not even a Jeep retains that kind of value. I knew they weren’t going to come off their price and I knew finding another locally owned Jeep like it wasn’t likely, so I decided to buy it knowing full well I was paying too much for it……..but their screw the customer to the hilt tactics weren’t over. I was going to trade my 2013 Mazda CX-5 bought new locally with 48,000 miles, navigation, blind side monitoring, Bose sound system, etc. Always garaged with a suggested trade value of $13,000 to $19,000. I was looking for $15,000. They offered me a whopping $5,000 non-negotiable. The sales lady couldn’t conceal her shocked reaction. I’m sure she was certain I was going to walk out and I wish now that I had, but I didn’t. The Jeep was just to good of a find to pass up. I told her that I’d keep my car and requested the OTD price for the Jeep so I could write her a check. Oh yeah, Carmax had put 5 new tires on the Jeep, so I’ll note that too. My grandson did a complete diagnostic on the Jeep and it passed with flying colors. I disposed of my Mazda on my own. I got a quality vehicle from Carmax, but that might have more to do with luck than anything they did to the Jeep. It didn’t need any repairs or reconditioning. I overpaid for the Jeep but I was aware that I was paying about $4000 too much. At least I didn’t let them screw me out of another $10,000 by attempting to steal my Mazda. A new Jeep just like the one I bought lists for $53,000. I’ve convinced myself I saved $23,000 by buying a preowned Jeep in showroom condition. The only things I take exception with in your posts, based on my experience, is that Carmax only makes $2000 profit per vehicle. That’s pure nonsense. And Carmax doesn’t want or need my business? Really? I wouldn’t want to disappoint Carmax or you, but that noted, I can’t envision me ever going on a Carmax lot again…..that’s assuming they don’t go bankrupt. Have a nice day. ✌️👍

@@larrys9879 I usually don't read long post but yours had so much truth that so many of us have experienced when making a car purchase. Channel Kevin Hunter the Homework Guy has more information on this subject matter.

@@johnlopez3001 I don’t normally write such long posts. Except for Carmax nonnegotiable price policy their sales tactics, IMO, are typical for any car dealer new or used. I’ve purchased more than 60 cars in my lifetime. Purchasing an automobile is the only product, I can think of, where the customer is routinely screwed because they don’t know what the lowest OTD price is. Carmax advertising has convinced the public their no hassle pricing insures the customer they’re getting a good deal….but they aren’t. Carmax cars, IMO, are over priced and then they undervalue the customers trade vehicle, assuming my experience is typical. Their 30 day return for a full refund is unique and offers some protection for customer that end up buying a lemon. I’d like to see that become a law in every state.

I’ll buy that from you immediately for $4300 lol

@@austinfrazier7325 Totally, agree

I always tell my friends/family jokingly that if you want to find out the lowest price you can sell your car for, go to Carmax. You can only go up from there while selling. They low ball like crazy.

That’s 100% incorrect. They don’t discount anything. If you find something wrong they will fix it but no discount the car

@@Ezvy It depends on the demand of the car. I had a used Hyandai Tuscon transferred to my local Carmax a month ago. It was priced at $17,998. I changed my mind when they notified me it had arrived and told them I no longer wanted it. It sat their for sale for 3 weeks and I just noticed the priced dropped to $16,998. But I still don't want it. The type of vehicle I want now (Ford Explorer Sport) would be gone in less than 2 days if I changed my mind.

Thank you.

A manufactured "shortage"....all by design.

Where did they open

LOL! I still have stock in Carmax form when I worked at Circuit City!!!

Really? Never knew that!

It was started by ex Circuit City executives and isn't owned by Best Buy. Unless, this just happened?

Did the president ever write back to you or no?

@@Tendertroll1 He actually had someone contact me, but only to tell me there was nothing they could do. I think within a year they came up with their return policy. At least I learned to better negotiate with car dealers because I was hellbent on getting that $500 back (at least in my mind) when I bought my next car.

@@ld4974wow, that’s a great story! Yes, I agree with you. I agree with you. With a little haggling, I have always gotten better deals going to other places. I have saved thousands by not shopping at carmax, too.

Meow

What should carmax do differently in your opinion?

They’re making it difficult for their sales team to make any money. Many of the experienced sales reps have left. So the ones that are still there have low morale and don’t really care to provide great customer experiences. Their attitude is basically “do you wanna buy the car or not” . Half their pay gets taken away if a customer goes online and sets a “browse appointment” they’re doing 99% of the work for 50% of the pay. Many customers now have done something online, and reps are still spending hours with people. Carmax is literally taking away their money for nothing. Customer experience will suffer as it did with circuit city.

maybe not😢