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If you’re looking to buy a car from—or sell your car to— a trusted brand name, CarMax is certainly worth being one of the first options you try. The company’s first location opened in 1993 as an experiment suggested by executives at the Circuit City electronics corporation. The project, nicknamed “Honest Rick’s Used Cars”, was meant to expand Circuit City’s enterprise into other arenas. What became known as CarMax fulfilled that goal, growing rapidly across the United States through various acquisitions of car manufacturing real estate.
Currently headquartered in Richmond, Virginia, the company currently operates 195 used car stores in 94 markets. CarMax.com strives to offer superior quality used and certified pre-owned vehicles, as well as friendly service to its customers. The CarMax company has consistently been named as one of FORTUNE® 500’s “100 Best Companies to Work For” for 10 straight years. It has been serving customers for over 59 years, holding themselves to a high standard of integrity with their services and products.
Read on for CarMax pros and cons, plus CarMax reviews from users.
CarMax is the largest used car retailer on and off the internet, allowing customers to shop for vehicles the same way they shop for products at what they call "big-box" retailers-sort of like a Costco or Sam's Club for the car shopping and buying experience. This refers to promising car shoppers an affordable purchase price with a no-haggle price model, a broad selection of CarMax Quality Certified Pre-Owned vehicles, and superior customer service.
CarMax's car buying process is based on the results of a notable consumer survey the company conducted back in 1991. The survey asked everyday consumers about their preferences when it comes to the process of buying a car. The answers below are what define today's CarMax's shopping experience. What this means for you the customer:
CarMax has a sizeable listing of used cars (new cars as well) that support its promise to offer security to customers. Each used vehicle has to be CarMax Quality Certified, meaning every used car must pass a Certified Quality Inspection.
Each used car sold also comes with a 5-Day Money-Back Guarantee, as well as a 30-Day Limited Warranty (and a 60-Day Warranty in Connecticut, Minnesota and Rhode Island and 90 Days in Massachusetts and New York).
Additionally, each used car buyer has the option of purchasing a MaxCare Extended Service plan covering the following:
The extended warranty is offered through MaxCare, a third-party warranty company. Deductibles start at $50 per visit. Customers who purchase the extended warranty will also receive emergency roadside assistance and rental reimbursement. The website provides a free coverage estimate based on how many miles you drive, your type of car, and your desired deductible.
CarMax can transfer any used car you are considering to a local car dealership near you, so you can test drive it at your convenience. Transfer fees may be applicable, but oftentimes this service is free.
Consumers are encouraged to ask a CarMax sales representative about this nationwide transfer service and any possible fees ahead of time.
There is no obligation to buy the car once it is transferred.
There are plenty of resources at CarMax.com to help you find a vehicle. Read thousands of research articles, ratings, and reviews on the CarMax website.
For used car shoppers, this car retailer has a nice array of tools like a payment calculator to calculate and compare monthly payments and overall affordability.
What's unique, however, is their Tax, Title, Tags, and Fees Calculator and their MPG Savings Calculator. The Tax, Title, Tags, and Fees Calculator helps you figure out what sales tax, title, and tags fees you will need to pay, according to what state you reside in. All you have to do is select your state and vehicle price range and hit the Calculate button. If you're unsure about what fee rules and regulations apply to your next auto purchase, this is a perfect car shopper's tool.
The MPG (Miles Per Gallon) Savings calculator allows you to see how a vehicle's fuel economy will affect your bottom line. It actually allows you to compare two cars at once to see how they stack up against each other. This is a great tool to determine long-term maintenance costs for car ownership. To find out how much you'll save (or lose), locate the desired car's gas mileage on the Carmax vehicle profiles you selected, then fill in the average MPG of two cars you'd like to compare and hit "Calculate Savings."
CarMax.com will also buy or trade-in your current vehicle no matter what condition it is in. An owner can get a free written offer that is good for 7 days at any CarMax dealership location. If you choose to sell your car to CarMax, you will receive a bank draft on the spot that may be deposited in your bank right away.
Another unique component for consumers is being able to sell their car to CarMax. Although CarMax is not the only car buying service site doing this, it is the only one that offers a unique appraisal process to see what your car is worth. The appraisal process looks like this:
The appraisal process is Step two in a streamlined, no-hassle, three-step selling process—the result of the code of conduct based on consumer's preferences previously mentioned.
CarMax has a lot to offer used car buyers and sellers with only a few inconveniences. For example, the MPG Savings calculator is a great tool-it would be even greater if you could just find out the miles per gallon savings on one car instead of having to compare two. When searching the site, if you're only interested in one vehicle, you can't use the tool.
Another inconvenience is that if you are not living near one of CarMax's locations, taking advantage of 'sell to CarMax' or trade-in process may not be viable. As store locations are so spread out and possibly in a state other than your own, you may need to make travel arrangements or you may be unable to afford the trip either time-wise or money-wise. (This is where the Tax, title, tags, and fees calculator comes in handy).
CarMax offers lots of tools to help people with buying and selling cars, trucks, and SUVs. What makes CarMax so massive is that, unlike many online auto companies, they are not just an internet business. The company has brick-and-mortar car dealerships around the country—although very spread out.
Getting to one of their locations may be an issue, but since CarMax will buy your car regardless of make, miles, or condition, if you plan on selling your car or are looking to buy one yourself, their website is one worth exploring.
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