The store is big! Impressive! You're greeted by positive, smiling, upbeat people upon entering! Top quality service! You're quickly assigned to a salesperson. The variety of vehicles is incredible! They have, or have access to every make, model, size and color you'd want! The prices are higher than other dealerships--that's for certain, but they make up for it in their warranty offers. They'll get you approved for financing, so don't fret! You've entered Car Dealership Heaven!
Unknowingly, you're being seduced, and you're crawling into bed with a huge corporation, and the only rubber that CarMax is aware, is the rubber that rolls each vehicle they sell, right off of their lot. Beware! CarMax has been to bed with millions, and they don't get tested for STDs.
First, regardless what your salesperson tells you, your credit is hit HARD by every inquiry. I was told by numerous salespersons that "the credit bureaus know you are shopping for a car and they take this into account." WRONG! CarMax does NOT finance you on an AMOUNT of money. CarMax finances you PER CAR. Each car you might want to purchase has to be run against your credit. This is a lame-ass model of business--especially for a beast such as CarMax. KNOW exactly what you want and choose no more than one or two cars. Period.
Hopefully your experience is short and sweet, but if the romance continues, I fear for you. Unfortunately, two weeks after my purchase, I totaled my dream car on a country road. Fortunately, I had GAP insurance and I was 100% covered. The next day, and I kid you not, my insurance agent said to me, "You are about to learn how CarMax does business, and just how much they appreciate you being a customer." I shrugged the comment off, for I had been seduced, had gone all the way, with risky behavior, and had no sign of any infection.
I was to shop at CarMax again. Loyal, repeat customers would be treated well! WRONG! I found my next car--no dream. My credit score was 80 points lower than the previous month, much to do with CarMax's credit checks. I was astounded that CarMax refused to give me decent percentage rates. The down payment demands were horrendous as well, and I was financing $10,000 less than my previous loan! This is the no-hassle dealership. No negotiations. A car is a car. A price is a price. A human is a consumer--someone from whom to make money. CarMax doesn't view any aspect of the consumer, except the profit that they will make on this ONE deal. Remember: YOU ARE NOTHING TO THEM BUT PROFIT!
Still being stupid, I found a car and had it transferred to my store. They had it for quite some time, cleaning it and whatnot. Meanwhile, the insurance company was working on my claim, and I'm in a rental car. Insurance is not quick when paying off a car when it's totaled, but we are talking less than 20 days. CarMax was going to be paid off. They were going to receive an additional $3,200 which was to be paid to me. Things were looking positive again.
Finally, I received a call and was told, "Your car is here and ready. Come in to pick it up, pay your down payment and do the paperwork." I replied, "I hoped my down payment could be the money that is coming from my insurance company." I was told, "No. You must pay NOW and CarMax will not hold your car until your insurance pays off your loan." They released it to the public right then. The car had been transferred for me, but they couldn't wait one week . . .
My insurance pays for a rental only 5 days after you are INFORMED that your car is totaled. It takes about 10-12 days for the lien holder to get paid though. That left me with about a week of renting a vehicle on my own. Stupidly, without any protection, I asked CarMax if they'd loan me a car for a few days since they KNEW they were being paid off. They KNEW they were going to have my money in THEIR name. They KNEW I had my new loan, with a high percentage rate and a high down payment, and they still told me "NO!" Need I say more? All of the rumors that we have heard about Carmax must have some truth to them! BE SAFE WHEN PLAYING WITH CARMAX! DOUBLE-WRAP with this beast! read more