READ BEFORE YOU BUY AT CARMAX.
I have bought three cars from Carmax (why oh why...), all of them turned out to have problems.
Bottom line: You are buying the auction dregs regular dealers don't buy and then selling you an expensive warranty o go the problems.
1. The Warranty and their "inspection":
Here is the trick, Carmax sells you an expensive warranty with a deductible, they really push it, noticed that? This can be a lot of up front profit for them.
And this reduces their incentive to examine the cars they have beyond a certain level. Their much vaunted x point "inspection" is just exterior stuff looking for leaks and listening for noises. But they don't put the computers on the cars so I am told.
As a result, all two of the three cars I had had to be fixed almost right after I drove away.
Notice too that nearly all the cars they sell are OUT of warranty, meaning you need to get one from them, or take the risk. The reason they are there at Carmax is because they are out of warranty. Or are lemons.
Luckily my Merc which started to have trans issues about a week after I got it, was under warranty with Mercedes and it needed three days of transmission work which I didn't have to pay for. Carmax would have known that if they put the computer on it.
2. They are NOT cheap
Also they are NOT PARTICULARLY CHEAP, I bought this idea for a while, but having just shopped around and bought a car from a dealer I found Carmax prices quite high.
Sure, its nice to have the one price and no car sales people to deal with, but that one price is above market value. So man up and go negotiate.
These guys move tin and fast. That's their business model.
3. The Service
And about that service, how well do you think a service department that tries to service every car in the planet is going to do? I'll tell you, not too well.
They never did figure out the problem with my first purchase from them.
The pre-owned certified programs of dealers mean you DONT need to buy that $2500 warranty they sell you at Carmax. And then it goes to a dealer that has the experience and tools. Cars today are way to complex to do otherwise.
And when you take it in to Carmax you pay again, they call it a deductible, could be 150 each time, even though you have bought a warranty. This is designed to deter you bringing it in.
4. Messy paint touch ups
Final point:take a close look at the cars paint: Carmax I believe has a habit of doing very POOR PAINT TOUCH UPS s on their cars before they sell.
Look around wheels and doors you will often find some overspray etc here and there. Surprising.
They usually claim the poor paint was the previous owner, so hard to prove.
I discovered paint spray of the exterior color on the back of the driver seat of my second purchase a day after I bought it.
Think about that, for a moment.... whichever way you cut it that's crazy. The first car I bought also showed signs.
And on another occasion a BMW 650 I examined had clear poor overspray below the radiator grill. I got a very vague response to my question about it.
5. Can they really ALL be former "fleet vehicles"?
Final peave, they seem to have a lot of former "fleet vehicles" there marked on the sticker-- I don't buy it, how many can there really be? It may be if they buy at auction they can use that description?
How likely is a 60,000 buck (new price) Merc convertible is a fleet vehicle?
Check your Carfax closely to see where its been.
Remember, Carfax won't show repairs that someone did not claim on insurance to avoid their premium going up, so you still need to inspect closely.
6. The financing isn't better or easier
I went back because they were good at getting financing approved, but recently I found out dealers do just as well.
I got a great 2011 BMW from BMW NO problems and service included.
And so what if people are nice there, they should be, all they are really doing is arranging finance and selling you a warranty. None too tricky.
And the "we don't work on commission" approach I am highly skeptical about. This is America, there are incentives to sell in their somewhere surely.
7. The percentage rate
Whatever percentage rate they come back with take of 3 points and stick with it, they build in plenty of profit.
They like to say there is nothing they can do. Nonsense. And don't buy the "its the bank not us" -- make them work for it.
8. The test drive
They don't like you taking it on the freeway. Take it on the freeway and drive it hard feel for vibration, noise, acceleration, braking.
9. Car features
Check every single button in the car and make sure the feature works, the salespeople don't know.
Buying cars will never be easy. Buyer beware. Don't buy the Carmax hype.
Update May 2014/2018- I think it is fascinating no one from Carmax has contradicted anything I have said here, not even about their "inspection"....draw your own conc read more