Tag: CarMax

By on August 3, 2015


Fiat Chrysler Automobile dealers won’t be able to sell cars without recall repair work or they risk losing their incentive money under a new agreement with the federal government, Automotive News is reporting.

The agreement was part of the sweeping package penalties imposed by the National Highway Traffic Safety Administration, including up to $105 million in fines. According to the consent agreement by the federal bureau and FCA, the company already asks dealers to complete recall work, but the new mandate would reinforce that existing policy.

In the United States, it’s illegal for a dealer to sell a new car without recall repair work, but no such law exists for used cars. A recent proposal in Congress to force used car dealers to complete open recall repair work was met with opposition.

(Read More…)

By on April 9, 2015


Though CarMax’s lending arm will press forward with its subprime lending test program, it won’t be a major player in the subprime game.

(Read More…)

By on February 2, 2015

How do I know you love me? (photo courtesy: zazzle.com)

TTAC commentator dtremit writes:

Hey Sajeev —

Inspired by your recent Mazda3 Piston Slap, I thought I’d throw this question your way. Seems like something the B&B might have advice on.

I have a 2005 Mazda6 that is a rather desirable used car…on paper. It is in excellent condition mechanically, and has fairly low miles for its age (about 78k). Single owner, and I have maintained it well, though I am not sure the mess of receipts in the glovebox counts as excellent documentation. I have a good set of Nokian snow tires for it on steel wheels, which would go along with it. It would make a good car for someone for quite some time to come. (Read More…)

By on May 13, 2014


Imagine over 500 cars at your disposal, and you pick the exact ones you want to test on the open road.

There are no mind games. No bait and switch tactics. Nothing but you going to a computer, figuring out the most worthy candidates, and letting a salaried employee fetch the keys and answer the relevant questions to your car search.

Sounds too good to be true? Well, it’s already happened. There’s only one problem.

The place that does it primarily sells used cars, not new cars.

(Read More…)

By on March 7, 2014


100,000 miles?

200,000 miles?

300,000 miles?

Everyone has a certain point with their daily driver when they would rather see money back in their pocket, instead of seeing more money fall out of their pocket.

Time marches on. That old clunker loses it’s endearing qualities and then, what do you do?

Well, the answer depends a lot on what type of vehicle you’re trying to sell… which is why I’m introducing Carmax’s wholesale operations into this write-up.

(Read More…)

By on September 3, 2012

9:15 A.M. Labor Day.

I get a surprise message on Facebook this morning from a guy who bought an old Volvo 940 wagon from me nearly six years ago.

That BMW? What did it go for?”

A month ago, I posted this article regarding the grey market Bimmer.  It had sold on the block for a mere $2,300 due in part to a broken odometer. I clicked on the Ebay listing hoping for a fair disclosure. Instead I got…

(Read More…)

By on July 7, 2011


Have you ever been to an auto auction? Some may consider an auctioneer to be a ‘carny’. He talks at over 200 mph. Mumbling what appears to be nothing more than gibberish and random numbers.

But if you added all the sales up by those supposed hucksters, you would soon realize that only Wall Street and Walmart sell more goods over the course of a year. Over ten million cars are bought and sold at auctions by these professionals. Hundreds of thousands of dealers have access to the vehicles. With all that free market competition taking place, Carmax is just one of many dealers that must compete for all those cars.

Can Carmax offer a ‘good value’ compared to all that competition? (Read More…)

By on June 13, 2011

Mark writes:

We will be buying a new car soon and that will leave us with an extra one. My experience selling a car myself makes me think we don’t really have the motivation to do it ourselves this time around.

The car is located in CT and is a White 2007 Hyundai Sonata SE with ~73k miles on it.  The only option is the Sunroof.  For whatever reason the side mirrors seem to attract having the outer housing broken, they are still functional but the housing rattles. I’ve replaced one, unpainted grey, and will be replacing the other shortly.  There are no other issues with the car as I can tell.  The emissions test is due next month, so I’ll have to have that done.

I need your advice on the easiest way to sell used car. Thanks.

(Read More…)

By on January 11, 2010

The ticking timebomb? (couretsy:gio-trading.com)

TTAC Commentator PG writes:

Sajeev, In their December 2009 issue, Car and Driver has a great article about how extended warranties — such as those offered by U.S. Fidelis and others — are largely scams that deceive customers, don’t really cover the cost of repairs at all, and don’t give refunds at cancellation.

My parents own a 2002 BMW X5 4.4. They bought it from Carmax and have the extended warranty from that dealership. It’s a fantastic car, but it’s had some very costly repairs — thankfully, those have been covered in full or at least in part by Carmax’s warranty. The thing is, that warranty expires this month and can’t be renewed.

The ‘rents are thinking of getting an extended warranty for the Bimmer, but after reading that C&D story I’m pretty convinced they would be throwing their money away. My question: are there ANY extended warranties out there that they can use? What can they do to help avoid the full cost of repairs?

Buying a new/different car isn’t really an option right now, because they want to keep the X5 as long as they can. The car has about 80,000 miles on it and still runs well, except for the occasional hiccup, but those can be pretty pricey on a BMW.

If you or the best and brightest have any suggestions, I’d love to hear them.

(Read More…)

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