2020 Carmax Reviews: Used Cars Near Me & Auto Finance
Auto Loan Expert
Today’s technology has allowed us to expedite a lot of the processes that, just a few years ago, would have taken us several days or even weeks. One good example of this is the process of looking for and buying a car, whether used or new. Before, we had to physically go to and check every dealer near our area to find the best deal on the car we are looking at. But now, all we have to do is to go to websites like Carmax.com, which offers to trim this process down from a few days or weeks into mere minutes.
What is Carmax?
Before we go and start reviewing the services offered by Carmax, we must first look at what is its core service. In simple terms, Carmax is an online search portal for new and used cars. It offers an easy way to search for deals for the car you are looking at purchasing and allows customers to compare a price from a particular dealer to prices from dealers in the same area. Aside from targeting car buyers, Carmax also offers a comprehensive service for sellers looking to put their cars up for sale. It offers an easy way for sellers to advertise their car at prices that are supposed to match, more or less, the current market prices for that specific vehicle, taking the pain of guesswork and advertising the car yourself.
Clear, easy-to-use format
Like other websites who offer similar services, Carmax features a very clean and user-friendly interface. It offers a search bar where you can type the brand of the car you are interested in buying, the year and model, specific budget, and many other filters. It will then give you results listing the best deals according to your search parameters. The listings include pictures so you can clearly see the vehicle, and the results page gives you many more options like choosing to compare a certain car with another similar vehicle. All these are laid out in a very logical manner, enabling even new or non-tech savvy users to navigate the interface.
As for sellers, their own page at Carmax is similarly clean and free of clutter. Sellers can see at first if Carmax would be interested in the type of car they are selling through an online assessment feature in which a seller enters some of the car’s details. If it is indeed enticing enough for Carmax, the company’s contact details are clearly indicated on the page.
Comprehensive search function
The search function for buyers may seem simple at first, but then, clicking the buyer’s search page enables access to a ton of filters that really helps in narrowing a buyer’s choices. Aside from usual details such as make, model, and year, users can indicate the color they want on both the exterior and interior of the car, the extra packages that may be included, their budget range, and even the mileage of the particular car model they are eyeing. This very useful for people who want to buy a car but may not be familiar with other models or makes that can potentially have what they desire.
Money back guarantee
Carmax offers a 5-day money back guarantee for buyers, which is a huge deal especially those who may have doubts about Carmax itself or may not be too sure of their choice. This offer lowers the risk significantly for buyers as it affords them enough time to test out a car they bought to see if it has any undisclosed damages or if there are any parts that are not working as advertised. It is also a full refund, which is really a great way to boost customers’ confidence in using Carmax’s service.
While most of us have an idea of the car we want, some buyers have very little clue as to what is the best car to buy. They may just know the size or color of the car they want, but they may not be familiar with the brands or the actual class of car the vehicle they are imagining may belong to. And this is where Carmax’s research page comes in handy. The research page is essentially a comprehensive database of all the most popular car categories, as well as the top cars in each one. Here, you will get car ratings, safety scores, and general reviews which Carmax’s claims are from unbiased sources.
This is a huge help for those who just know that they need a car but are not knowledgeable with other details. This will give them a good starting point for the type of car they need and may even change their minds about some preconceived notion about a brand or car model. Also, they will be able to compare the extra features of cars in the same class, which will give them a greater chance of getting more bang for their buck.
In Carmax’s website, right next to the search bar, you will immediately see a link that encourages you to secure the best auto loan first before you browse through the car options any further. Although most of the would-be buyers using Carmax would probably have a good idea of their budget for purchasing a car, some would prefer increasing that budget to get a better car that would last longer and keep its resale value even after a few years of use. So Carmax’s car payment calculator allows buyers to have a close estimate of the amount of financing they could get to augment their original budget. And the fact that they could easily and readily apply for financing without even leaving Carmax and going to a financing company’s website is a very convenient way of providing this service. There are even used car loan rates to compare. This really makes Carmax a one-stop-shop for consumers looking to buy cars.
Some similar websites only offer to collate information from various dealers about their listings so that they can provide consumers a centralized database of options. But with these websites, the buyers would have to deal with their chosen dealer and pay the down payment or monthly car premiums directly to the dealer. This would only be a small problem if the dealer happens to be near your area, but if it’s in another city or another state, this is a huge hassle. Carmax, through its financing service, offers a convenient online facility that buyers who have availed their financing can access at any time. It is like having an online bank account that you can manage from anywhere, without having to go to the dealer and pay them yourself. This adds another layer of convenience and comfort for buyers, especially those who are very busy and do not have the time.
But as with other companies that offer a similar service, Carmax is certainly not without its downsides and disadvantages. There are a couple of websites where previous users of Carmax have relayed their less-than-satisfactory experience with Carmax. We collated some of them below:
Although it is not currently accredited in the review site Consumer Affairs, buyers are still able to post reviews and stories about Carmax on the website. Unfortunately, most of the reviews are on the negative side. Carmax only managed a measly 1.5 out 5 score on Consumer Affairs, and that is based on 88 reviews. A significant number of the reviewers took offense against being reportedly led to dubious dealers who are hard to deal with. Some buyers complained of not being replied to by dealers, and some reported being sold a faulty car that is not as advertised in Carmax. Some even alleged that Carmax refused to repair some of the cars that had problems or damages and were charging a lot more for after sales service.
As for the sellers, most of them reported how they were upset by the lowball offers they got for trying their car appraised at Carmax. A buyer said he checked with other websites and he concluded that Carmax undervalued his car by more than $1,000 based on various reasons that did not make sense to him. Another seller was able to sell his car for more than double the price Carmax was offering him.
Still, there were also a few who were satisfied with Carmax’s service, citing their convenient and easy buying process, as well as the availability of a financing option. They also commended the assistance Carmax provided them from the time they searched for a car until they were about to bring it home from the dealer.
Yelp is among the most popular review sites in the world, and Carmax has been reviewed by a total of more than 700 consumers. Currently, it has a review score of 3 out 5 stars. The ones who reviewed Carmax negatively mostly pointed out the lack of attention and service given to them when they first went to Carmax. Several buyers reported having to wait for more than 10 minutes before someone approached them, while others cancelled their appointments altogether when no one offered to assist them. As with Consumer Affairs, some Yelp reviews were frustrated by the quality of car they got, which they alleged to have become problematic and costly to repair just a few months after purchasing them form Carmax.
Despite some negative reviews, a significant number of consumers really liked how easy it was to buy a car through Carmax. The entire process, which included financing options with good auto loan rates, was really a boon for some buyers who said Carmax allowed them a pain-free car buying experience. Contrary to others who have experienced being ignored when they went to Carmax, some consumers commended the Carmax staff, saying that they assisted them from start to finish, and were very cordial and easy to talk to.
Another popular review site is Sitejabber, which also uses a 5-star rating system. Here, Carmax was firmly at the middle of the pack with a 2.5 star rating, though that was based on a much less number of reviews. Most of the negative reviews were about the poor quality of the cars after they have been purchased through Carmax. Some cars broke down and had multiple problems just a few months after the purchase, while some of the cars lacked some of the features that were supposed to be included and were indicated in the posting on Carmax.
Those who were pleased with Carmax raved about the customer service and ease of use. Some were surprised at how convenient it is to purchase a car online with Carmax, and some were happy with the after sales assistance they received from Carmax.
Carmax currently has a less-than-stellar rating at DealerRater website. Out of 5 stars, it only managed a low 1.8. A lot of the reviewers cited the alleged misinformation about the listings and the financing options. Some were reportedly given an enticing initial computation only to find out when they were about to purchase a car that they had to pay a lot more than what they were quoted. Some also lamented the very low appraisal Carmax offers to those who were looking to sell their vehicles.
Still, there were some who were very happy with their experience with Carmax. Some reviewers commended the very fast and smooth transaction with Carmax’s sales people, who they said were very cordial and helpful with their inquiries. Several buyers were also impressed with the vast selection of dealers Carmax offers, which enabled them to carefully select which ones they would contact and buy from.
Is Carmax a good place to buy a car?
While there are a number of good reviews about Carmax, the car search portal received an overwhelming number of bad ratings and reviews. If you’re looking to buy a car or sell your existing vehicle, it is prudent that you try to search for other options and websites so that you’ll be able to get the best service available. Feel free to look at the other reviews we have on our site to help you with your decision.
On the lookout for your next car? Or are you trying to sell your old reliable vehicle? Either way, there are now plenty of avenues and platforms that cater to those looking to do just that. But which one? Today, get to know about one of the most popular buy and sell websites for cars, Carmax.
What exactly is Carmax and how does it facilitate the buying and selling of cars? Know all that and more in the FAQs below:
What is Carmax?
Carmax is an online platform wherein you can buy or sell used or even new cars. You can browse through its large online database of cars, get financing options, and also have your car assessed before selling it.
How does Carmax work?
Can you haggle at Carmax?
Is Carmax a good place to buy a car?
Who owns Carmax?
Does Carmax buy cars?
What time does Carmax close?
Does Carmax buy motorcycles?
Does Carmax lease cars?
No, except from their two Toyota dealerships which leases brand new cars only. Carmax likes to keep its business model focused on buying and selling cars. Learn more about your lease vs buy car options.
Is Carmax open on Sundays?
What time does Carmax open?
Does Carmax buy cars that are not paid off?
Does Carmax work with people with bad credit?
Your credit history is not as important when you are buying in cash or selling your vehicle on Carmax. However, once you avail of Carmax’s financing option, your credit history will be among the details Carmax will take a look at before you get approved for bad credit auto loans.
Where does Carmax get its cars?
What does no-haggle price mean at Carmax?
Does Carmax take trade ins?
Not exactly. Carmax does give you an appraisal for a car your selling, but it does not do direct trade-ins. Instead, you can either use the appraisal price for trade-in value with another dealer, or sell the car to Carmax then buy a used car.
How to remove Carmax sticker?
Is Carmax worth it?
Where is Carmax?
How much do Carmax sales consultants make?
Does Carmax do oil changes?
How to sell a leased car to Carmax?
Does Carmax offer trade in value?
How to return a car to Carmax?
Do Carmax cars come with a warranty?
Is Carmax a ripoff?
Does Carmax ask for proof of income?
What is covered under Carmax warranty?
Is Carmax overpriced?
Do Carmax cars have tracking devices?
Buying and selling cars on Carmax
Get to know the dos and don’t of buying and selling cars on Carmax, know how much you can get (or if you can sell your car in the first place), and many more with our little guide