And not turning down FREE money is one thing that adds up quite nicely over the course of the years. Shifting With The Future At The Hagerty Driving Experience. This part of the calendar can produce earth-shattering Woj bombs, but his report citing the Minnesota Timberwolves' "actively shopping" carried the force of a misfire. She said she would find out the issue and get back to me in 24 hours. You guys are do great work!! Kevin I know you want to see the Colts go defensive heavy in the draft as do I but my question is what are the chances of the Colts drafting Carl Lawson or Derek Barnett in the 1st round either one would be great players to our defense or maybe Dalvin Cook to complete our offense his skill set would bring our offense to a new level but I prefer defense we have some guys to build around but we just need to get younger and faster and maybe change the scheme to a or just have multiple schemes the defenders in this draft could really improve our defense Thanks for your time Mr. And the best looking platform, very easy to follow along.

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. No hard sells or bait-and-switch tactics. This article from Automotive New s does a great job of highlighting the retail side of their success. Carmax is now twice the size of second-place Autonation, and larger than the third, fourth, and fifth place automotive retailers combined.

That first billion is the one everyone here is already familiar with. You are tired of your car. More times than not, it has some type of problem that is either expensive or elusive. You have probably spent a fair penny trying to solve that issue, and even if you succeeded, you are weary of having to deal with yet another one down the road. Have you ever noticed how much money Carmax spends on radio advertising? That little 30 second spiel about bringing your car in and getting treated right is more than just a hokey way of trying to get you in their door.

Carmax inspects your vehicle. Successfully buys it or at least plants the seed for further businessand then they does something that is unique trading options torrent virus automotive retailers. They have weekly auctions for all of these vehicles. Wholesale auctions frequented by dealers who sometimes travel long distances to buy the very same cars that you are tired of driving. On average, a Carmax auction gets more eyeballs per vehicle basis anyone else.

An auction with vehicles will often have more than dealers who are ready to bid up and buy all those vehicles. If the engine or transmission has mechanical issues. If there is frame damage or a salvage title, Carmax will disclose that issue in writing to all dealers before the sale. No system is perfect. In my experiences, Carmax tends to offer a solid edge to consumers in three distinct areas.

You may notice that these are the first two types are cars that few public individuals want to buy in the first place. That five year old Chevy Aveo with a bad automatic transmission, and a 25 year old Honda that looks like it got into a fight and lost, will have one thing in common. They will both be lowballed by the general public.

That Honda Accord which has been drivenmiles? By giving you the opportunity to not deal with them, and giving dealers the opportunity to capitalize on your automotive misery. That Aveo I mentioned earlier? Then it will be fixed with a cheap tranny found through car-part. The sub-prime side of the car market can help a dealer more than double his money over the course of a few years.

Should You Trade Options Over The Weekend risk-free mind you, but the Carmax auctions provide them with a golden opportunity to buy 20 or 30 low-priced vehicles a week that actually come with mechanical disclosures. This, along with the push of immediate competition, motivates dealers to pay more money for your impaired vehicle. Is that a better return than you will find on Craigslist, Autotrader, or a nearby car dealer?

In some cases, without a doubt. The greater the uncertainty about the value of a product, the less an unknowledgeable person or greedy person will offer for it. That is unless you live in northwest Georgia. In which case the address to my dealership is… How does carmax Should You Trade Options Over The Weekend whether or not they will retail the car versus sending it to wholesale?

Well, if you look at their lots, they normally have low mileage cars normally, not more than years old, and no Should You Trade Options Over The Weekend than K miles. Also if the car has been in a wreck, they are reluctant to sell it on their lots. They will auction it. The car was fixed of course, and it looked great.

Before we really said much, he ran the VIN and the CARFAX came back showing the accident. The car was almost 3 years old with 28K on it. They offered me 10, which was a crazy low number. I was lucky because the car was fixed right after the wreck and now has 98K and is flawless. A car is worth what it will bring at auction.

As a wholesale buyer I am always ready to buy anything, even if I will re-wholesale it. I worked for Carmax for a summer about 10 years ago, the criteria for a Carmax lot car is less than 5 years old and less than 50, miles. Anything beyond that is headed for wholesale. Instead, we used it as trade-in bait and got more than 3x than what carmax offered prob 4x by the end of negotiations, but I think that was more around the dealer game with trade in offer vs.

As my father was a car dealer, I knew all that stuff from the beginning holdback, trade in rates, etc. Nowadays, thanks to the Internet, everybody theoretically knows this stuff. I appreciate knows that the odds of having bought a lemon are significantly lower there. With no pressure to buy something now. I think those were pretty much the feelings I had when I bought this 4runner and paid too much. After a worst ever experience I decided to avoid the trenches you mention.

Small town and premium price for a car tat Carmax would not have sold. Everything works, the guy stood behind his sale so far. I am not geared for the excitement of buying cars. I can honestly tel you that when I was raped it was a lot worse than buying my last car from a dealership. Adult rape does not either. You seem like a smart person, smarter than me, please use some of the other words you know to express being taken advantage of. That word is just a term that in the dictionary has more than one meaning in the English language.

The only thing consumers would like more would be to do it from the comfort of the chair in front of their PC or other gadget. This is beginning to happen to TrueCar. Dealers are quitting TrueCar but still using TC pricing to validate their own. I think you are reading that statement the wrong way. What you quoted does not say all buyers are willing to pay a premium to haggle.

It says all of those buyers that do enjoy the luxury of not having to haggle will pay a premium for it. Funny thing about TrueCar. I tried to use them at a dealer in NJ to buy a new car. They gave me a great price, I called the dealer to verify, wired my deposit, and arranged to pay cash and pick the car up the next week. We just have to add that on to all the sales quoted over the internet.

That puts me at paying sticker for a car that is not only a model-year old but now a full generation old since the new ones are coming out. I did get the cash back after a few days and several phone calls. I then got a fair deal on a better car from a dealer who gave me a straight quote on the phone, with no BS. The only less-than-great experience I had was helping a friend buy a Acura ILX.

I contacted TrueCar as well as a friend who is GM of an Acura dealer in California and he gave me Should You Trade Options Over The Weekend number to contact a regional executive over the particular dealership that had sold the car that was reserved for my friend. It took about 10 hours to finally get it resolved, but the dealership begrudgingly sold her a ILX 2.

She got XM radio, Xenon headlights, fog lights and a few other extras in the deal. I planned to use TrueCar to buy my Mazda CX-9 GT in Nov I printed out the best pricing thru TrueCar for another Mazda dealer in the area and planned to have my preferred dealer beat that price or at least match it since they had so many previous-year CX-9s to move.

I veered way off topic there, sorry…. I bought two cars from them before. Normally, their cars, if it is a high demand used car low mileage Accord, or Camry are priced high. If it is an odd kind of vehicle, they are priced at, or bellow Should You Trade Options Over The Weekend black book loan value. I needed a car for the wife back in July and as it happened I took a walk on their lot. They had a Mitsubishi Mirage DE which was sold new in November 2, door, AT, AC, Cd player, but not much else for 7, The car had miles on it.

Not a big market for that car. Comparable Civics were sold for crazy high prices. The little Mitsubishi was great. I kept for 3 years and sold it for 5, privately. Great little car with terrible paint no clear coat? I had to wax it 5X year otherwise the red would become orange. Most of those Mitsus of my vintage were orange already after 3 years. Definitely shop the number they give you.

Having gone through that last year…never again. I got a few calls and some other texts, but everyone seemed reasonable and I sold the car the first day. Never cared for Carmax. After standing around waiting for some help, I realized I was simply in the car department of Best Buy. CC would handle all the aftermarket accessory installs alarms, stereos, etc instead of the shop. It was starting to have some issues that I deemed to be substantial.

But I was in a position to sell it and have the cash. I bought a car on a whim from them last year prior to arranging my own financing. I agreed to have them arrange the financing in the interim as I had a few days to get my own in order before the CARMAX financing went active. I have excellent credit score in the sno revolving debt other than a mortgage, and I make a good living. Which is probably the best part of the CARMAX experience for me.

I never took delivery of the car since it needed some stuff fixed how did their comprehensive inspection miss that it needed a new shock that I noticed within the first 30 seconds driving it? The process was easy and very fast. I recommend CARMAX to people of a certain mindset. You probably needed to have more car loan history and some revolving debt to line up with their top tier criteria.

This is a little too complex for the average consumers to grasp. That leads me to wonder, does my habit of paying off my car loans early ultimately hurt me when seeking a new loan? I have had 4 auto loans and paid off all of them early, never trading the car in with an active loan. I ended up buying a car similar to the one I returned to CarMax about 6 months later it was actually 2 years ago, not last year. I just paid it off this week, 18 months into a 48 month term.

They offered us nearly twice the amount that an Audi dealership offered on a Audi TTS. That, and a no-BS aspect within their dealership made the entire experience very, very friendly and smooth. If I were used car shopping and they had exactly the car I wanted with exactly the options, I would think about purchasing it there. My wife bought a CPO Accord at an area Honda dealer last week for the same money as an identical Carmax Accord with 12k more miles. One thing Carmax is good for — checking out a wide variety of late-model used cars without driving from dealer to dealer.

Just by sitting in cars at the Carmax showroom, we found out that the rear seat head room in the Altima is Should You Trade Options Over The Weekend. The Mazda6 was OK, and the Accord was much better. Going miles in any direction from Gallup will knock a few thousand off the price on the sticker. Some dealers still inflate. I live in a major metro area and I wish CarMax were an option for me.

Having recently sold and purchased a used car, I quickly grew tired of the dealer games. Take the offer or leave it. Not all dealers play games, but sorting through them is quite a pain. Private sellers tend to significantly overvalue their vehicles want the same price as a dealer. Many of the prices at CARMAX are higher than or equal to other dealer asking prices. So essential you could get the same experience going to a used car dealer and paying their asking price.

Right…their asking price is well north of what you can negotiate elsewhere. Authority is a powerful thing. Also, some people are just dicks and would rather lose money than let you have a good deal. A while back I found a listing for a Stratus that I wanted to buy as a parts donor for our Lemons car. If a car has problems or potential problems a lot of people feel better about a dealership taking it than some poor sucker.

That clear conscience is worth money to some. I suggested my son check them out when wanting to replace his aging Eclipse. I believe he got a pretty good deal at a local Honda dealer, instead. He bought a very nice low-mileage Civic coupe SI. I think CarMax exists and prospers because of the inefficiencies and odiousness of many of the dealings people have with dealers. I always wondered why the individual dealer model persisted.

My impression is that the car selling business is still stuck in an archaic business format, albeit often disguised by modern surroundings. Google or Bing what Tesla is going through trying to set up company-owned stores. Other than a few states Tesla is selling direct, right? Why would they undermine their own partners when the relationship has worked so well for so long? After all, most car sales people are only guaranteed minimum wage, and if they are on it for more than a couple of months, they are probably long gone.

Imagine yourself with a business to sell. Or imagine yourself buying a used car. What do you do? In fact, many of the OEMs own corporations that also hold state dealer licenses. Jeff — Yes, there ARE a FEW states that prohibit OEMs from holding dealer licenses. They are in the minority. How many company owned stores does Tesla have? If OEMs were not Should You Trade Options Over The Weekend to sell direct, how could this happen?

Remember Should You Trade Options Over The Weekend all new car dealerships are independent franchises that set their own retail pricing. The no haggle dealership effectively becomes the price benchmark that customers use to haggle for a lower price elsewhere. The same is true for any product; you can also haggle down the price on that TV benchmarked at the big box store. The other trick is to not speak if you have an accent otherwise the price inflates by about 4x.

The largest Honda dealer in CT is no haggle and is consistently growing. The basic concept is they price cars at the lowest price most dealers would be willing to sell at. They are counting on volume to prevent competition. And it seems to work. I used to work at a boat dealer that did the same thing he had lower overhead then everybody else so he knew he was safe selling with a tiny mark up because he got the volume. Should also note the pay sales staff salary no commisons any where in the place, same thing at the boat dealer I worked at no real incentive to screw anybody.

Same case with a massive Toyota dealer in Wilsonville, OR. I looked at a used BMW there about 5 years ago. Ended up buying a different car but their price was very competitive and the car was a 1 owner vehicle in great shape. When I was 19 Should You Trade Options Over The Weekend agoI went with my mom to buy her very first new find the value of a european put option 5 cigarettes. It was also the first vehicle new or used that she had ever been allowed to choose for herself!

My dad was a total d-bag and he chose what she would drive when they were married. So it seemed so appropriate that she was buying the new Jeep after three years of fighting my dad for her half of the marital assets! They were the highest volume dealer in the state for a number of years and the highest volume in the Southeast at least one year also. I snagged one of these tags which had the MSRP on one side with the NO HAGGLE price written in black marker.

The flip side had all the vehicle info including VIN, base price, options pricing and destination charge. I used the one I took and we visited several dealers in metro Atlanta. My mom wanted the power sunroof which was on the option sheet but had just gone into production a few weeks earlier. The no-haggle dealer surprised me because he took the NO HAGGLE price of an identical vehicle except for the sunroof, then added the INVOICE price for the sunroof option and that was the price!

To be honest, I think their prices were too low because they were determined to beat every other dealer with a mile radius, give or take. They were depending on Should You Trade Options Over The Weekend, body shop and used car sales to bring home the bacon. The no-haggle, lowest price setup appeared to work until around He was arrested for several drug-related charges shortly after Chrysler booted him.

Subaru dealers in the NW are discounting the BRZ while Scion dealers have to stick to Scion fixed pricing. Its why SATURN was starved for product by GM. OEMs and their dealers are partners with contractual agreements. Besides, every time an automaker decides to sell direct it becomes an expensive failure. Why would they want to undermine their own partners? Margins are part of it. The fact that retailing and production require separate skill sets and resources are another aspect of the problem.

Ford spawned the franchise system because he wanted to run his factories at full tilt, and pass the inventory management risk onto other people. Ford wanted to make money, irrespective of demand cycles — his goal was to maintain such a stranglehold over dealers that he could force them to take inventory even when demand became sluggish.

Frankly vertical integration in general requires more product insight than writing synergy on a page between two other words. Apple is an exception to the rule. The fact that it has become the go-to rebuttal for everything illustrates how few good examples there are of successful vertical integration. Just look around your house, and the homes of your friends and relatives — most of the products there were sold to you by companies that did not produce them. Even a lot of store brand products, such as those from Ikea and Trader Joes, are made by third parties.

Apple is an exception but the rule in business should be to learn from success no matter whose instead of accepting mediocrity. What Apple does right can also be seen as what others are doing wrong. Apple also got into retail because generic stores do their job so badly. They just set a high standard whatever they do and the brand benefits. That extracts more money from consumers to the benefit of shareholders.

Americans complain about car prices now, even though they are paying far less than those in other developed nations. Vertical integration would push up prices, which is one reason that liberals have frowned upon it — competitive retail markets lead to more variety and lower prices. HP or Dell can also design integrated products which play well together and tight ownership processes eg. But like you said competition can be good. Apple has carved out its own niche by creating markets where there was previously no market.

They have also provided a pricing umbrella that allows other business models to enter and still make plenty of money. That should tell you how much gross profit Apple retains. But to try to compare gadgets with vehicles is just absurd. One can buy a gadget with some open line on a credit card. There are no negative equity trade ins on gadgets or complex finance issues to work out. What you REALLY want is for a dealer to have to quote a fixed price and stick to it to make it easier to shop.

You want the game rigged in a way you think would advantage consumers. The fact is that for those of you analytical types with good credit who demand a better than average price there has to be some others who pay more to maintain the average. Good luck with the FTC on that one. Do you have a poor memory, or are you just being disingenuous, i. In exchange for that je ne sais quoi, it slaps on a high price premium and tries to make the customer feel good about paying the high markup.

Arguably, BMW already does that. This extends to the ownership process where any product issues a wide assortment most of which might as well be magic to owners can be quickly resolved at the same retail store. It just so happens that Apple can charge more because their competitors are too incompetent to be competitive. Similarly as you said retailing is already low margin, but doing it better than the competition means leveraging that to justify some extra price or pass the value onto the customer for free and gain marketshare instead.

For example, for their laptops they tightly integrated with suppliers like Intel to ensure earliest delivery of the lowest possible power chips despite lower aggregate volume. Dell in contrast would pay the same, get their chips later, and overall lackluster power management anyway ensures mediocrity. It just so happens the Japanese leveraged such advantages into the mainstream while Apple wrongly choose the luxury market. These two distinct matters are easy to conflate because the smart exceptions are uncommon and insight into the inner works by the business community are frankly rare.

You can find that in the piece almost everyone here quotes, authored by a guy who represents himself as an expert on auto dealer franchise law. I guess it never occurs to people that Tesla owns its own points around the country. As of today there are MANY wholly or partially owned OEM dealerships around the country INCLUDING TX. And there have been in the past. If what Roger says is true, how could Ford have owned all of those stores back during the great Ford Collection experiment?

GM once owned MANY Saturn stores. How can Roger be right when the evidence CLEARLY shows he is wrong? They developed proprietary software that has since been cloned, but they jumped out ahead and continue to build new stores. IN fact, they see a HUGE financial downside. But then the trade in has to be negotiated along with complex finance issues for most people.

Fully a third of car buyers are sub prime to BHPH buyers. They beat dealer trade in value both times. I think their prices are on the high side, but you get a good car. I was actually rather shocked when someone at work sold their jeep to them and got very close to private party book value for it. I assumed they would Should You Trade Options Over The Weekend an extreme low ball.

I think he was only off by on a 12, dollar sale in which case it wouldn;t be worth your time to private sell it. So what you are saying is the only benefit to selling to CarMax is you can get your money TODAY, or if your car is essentially crap they will still buy it for their auction. I have only sold one car to them, a lease buyout they offered enough to pay off early.

Most offers are laughably low, the most recent one for my essentially perfect GTI was OK, but not good enough to consider. Its worth the 30 mins just to see what they will do. As for buying from them, I think their cars are a joke. Almost always overpriced and really not great cars. The add-ons they sell are extremely overpriced, the interest rates are a joke.

I browsed the lot for an hour or so, the cars were no better than anything you see at a typical mid-level used car dealer. Many had minor body damage that would be fixed at a new car dealer, they were not especially clean or low mileage, just nothing special. I see no reason to shop there versus shopping CPO programs. And the last few new car dealers I have been to were more pleasant to deal with than the guy working me at CarMax. Your perfect GTI needs to be sold to the right buyer.

It took me almost a month to sell mine because people are stupid. The trade in offers from different dealers were higher than some private party customers ask. Sorry, I got carried away. I eventually sold th car to someone that works at Audi of America for more than Blue Book. I told him I would always buy it back. But I am also not in a situation where I really NEED to sell it, I mean, I do like the car and I am not buying anything new for a bit anyway. The GTI is really a great car, its a tough decision.

But I am kind of over it, the little minor annoyances add up. Plus, I can only have so many cars and I am Should You Trade Options Over The Weekend at a point where I want something different. My other cars are paid for so it Should You Trade Options Over The Weekend more sense to keep those. Want to buy mine?? The C-Max that replaced it fits my life better, even if I miss driving the GTI.

If I buy another performance car, it will probably be a new Mustang. If Ford came through with such a car, I would put a deposit down today. I also might wait to see how the performance models stack up. Instead it went full circle brought and sold to Carmax the selling experience went so smooth I gladly sell to Carmax again.

But buying it the first place was such a hassle that I would never buy from Carmax again. The Taurus was the 3rd try is a charm car. Taurus, Malibu, Sable, G6? None if he is happy with rental spec sedans. Hell of a step up from a Sable. I appreciate advice, just not the time, got rid of the Taurus 2 years ago. Also my standards are low, the Taurus replaced a Cavalier, which had replaced an 88 Sunbird. The Taurus was a big come up for me! I have Legacy By now which for me is the greatest thing since sliced.

If it had been a G6 I might have been okay, but it was a Grand Am, got the Taurus a few months before the G6 was out. Did replace the Taurus with By related Malibu LS. I recently had a very positive experience purchasing and then selling a car to Carmax. One of my main gripes is that they will not let you take the car to have an independent mechanic check it out.

My car had 95K miles and would likely need a new timing belt, tires, and possibly head gaskets replaced in a year or so. It seems like their purchasing algorithm does not take these things into account and seeing as my car was under K miles and had no mechanical issues, I got a decent offer especially compared to local dealers. Could I have saved money by buying from a private seller or negotiating with a dealer and selling my old car on my own? With my very busy work schedule, it was worth the money.

For others, it might not be. For those who want specific features or color combinations on a used car that are hard to find, I recommend Carmax. They have a national network of dealers to shop online. If saving as much money as possible is the bottom line for you, however, I would not recommend Carmax. The selling dealer has a big advantage in this regard. It can amount a very large price differential.

Not to mention the ease of dropping off and picking up at one time. My most recent dealing with carmax was a mixed bag. I purchased a Scion xB with about 20k on the odo from them which was customized with leather seats. The seats were great. The car however clunked consistently on takeoff from the front suspension, which told me it was abused. On day 3, i took advantage of their no questions asked return, and walked. I was happy of that 5 day return policy, but I was not going to give them a chance to repair it which no doubt would have lapsed the 5 day policy.

Because they want individuals to buy from their retail side? And no one likes the unwashed masses. If you bought a crappy used vehicle from a dealer, would you go back to them? Would you recommend them? Carmax makes more than three times as much money from the retail side of their operations. Convoluting their retail image with a substantial portion of rough wholesale inventory would not be a smart formula for long-term success.

Do they ever sell vehicles they take on trade? If I were to bring in, for example, a clean Chevy Cruze, so that I could purchase a nicer used vehicle, would they sell that car themselves, or auction it off? There is no internal policy that I know of that would make a trade-in ineligible for the retail lot.

However, it would have to pass the same standards as all their other retail units. And it would be stupid not to. Much to my surprise, they refused and insisted on repairing it! I went over it with the guy line-by-line and insisted that everything down to the seatbelt buck and seatbelt webbing be replaced! I also demanded OEM Mazda parts. I also filed a Diminished Value claim after I got it back from the shop and had it appraised.

One way that I supported my claim was by getting trade-in offers in writing from dealerships. It had 72k miles on it at the Should You Trade Options Over The Weekend, not a dent, Should You Trade Options Over The Weekend or scratch inside or out and it really looked amazing when I got it back from the body shop. The Mazda dealer where I bought it new and another one in the my area told me the same thing.

But as an insurance agent, I can understand why they would be afraid of selling a car with a replacement airbag and with almost every other part of the restraint system replaced. Back in Novmy mom wanted to buy a new Mazda CX The appraiser even noticed where the paint on the top of the front fenders had been blended when the hood was replaced due to hail damage right before mom bought it in Even with the high miles, they offered close to KBB trade-in value.

But it sounds like it paid off. The salesman was fantastic through the entire Should You Trade Options Over The Weekend and has even followed up after the sale. He was clearly in a difficult position because of the User Car Manager and he even admitted that he felt powerless in the situation. If he or his Sales Manager ran to GM, the Used Car Manager would find ways to tank more of their sales!

General Manager was responsive when a mad-as-hell customer that would be me marched into his office and started throwing around four-letter words. Watch your language, there are mechanics and service advisors who can hear you! Never mind that my mom was writing a check to pay for it and not financing. Should You Trade Options Over The Weekend I took her check book away and put it in my pocket! That little troll waited until I went to the restroom, then he grabbed mom and took her to an office as far away from the showroom as possible not where he had been working all day!

The receptionist told me where to find them and when I walked in, he said that I would need to step out while he had my mom sign severl documents allowing me to be in the room when he discussed her credit report and other private information. My parents were actually in the middle of a mortgage re-fi and I made the dealership have the inquiry removed a few weeks later because the bank had a major issue with it! After a few more rude comments, he did something that he very quickly regretted- He pissed off the MAMA!

He tried to be nice when he realized that his life might be in danger, but it was too late. Amazingly, it was wrapped up and we had the keys in exactly 12 minutes! But our salesman was Should You Trade Options Over The Weekend a great guy, as I said. They had to order the splash guards and I took it back the following week to have them installed. I left it for him and went back to the service dept and he walked in a few minutes later with a huge smile on his face.

Buying from private parties is a lot of work, because you can only check out one car at a time. Selling a car yourself is a much bigger PITA, so I definitely see the CarMax advantage as an alternative to the trade-in route. It so happens I have such a car, which in about six weeks when my daughter goes overseas for 2 years I will need to unload. The car is an orphan brand Saab ; my daughter has dinged the body in multiple places, including 3 of the four corner light lenses so it will not pass a Maryland or Virginia inspection.

It does, however, have good tires, plus a second set of wheels when do listed equity options stop trading websites good snows on them. They see it as a safety issue. That perspective surprised me but it made sense. I Should You Trade Options Over The Weekend if CarMax knows that and takes it into account when preparing offers for used cars brought in by women. If they offer more than us they cut a check and I pick up the customer and bring them back.

My experiences: Mazda B X-cab 5-speed: Sold in for exactly the same price I had bought it for private party a year and 10k miles earlier. We took the keys away after she decided to park in a space at Wal-Mart already occupied by a motorcycle. Sometimes I sell it private, sometimes it goes to CarMax but it makes it easy to shut down lowballers when you show them the CarMax offer. The first thing we did was get a Carmax quote. Their above-average buying power is supported by their high, no-haggle prices.

In that light, I respect their place in the auto industry. Once to avoid the private sale hassles. Twice because trade in offers were horribly low. In order a C Silverado, sold it in with 87, miles. Each time the evaluation to mins. The offer was fair considering the convenience factor. Each car was sold in less than 90 minutes, including the initial eval.

I know there are those that dislike Carmax for a variety of reasons. As far as I can tell they are a generally honest, forthright and aboveboard operation. The employees were courteous and professional and never pressured me during the process. In all areas of life, you pay a premium for convenience. For starters, SATURN was NEVER successful.

It was propped up by a stubborn GM trying to prove a point. They were relieved to get rid of it. Other dealer operations will also write a consumer a check for their car. Consumers need to understand that they are parting with their vehicle for wholesale, not retail while at the same time giving up any sales tax advantage they might have by trading in. I find that reprehensible as it constitutes double taxation. CarMax has done a great job. A lot of their success has to do with the inventory software they developed which tells them which vehicles move the Should You Trade Options Over The Weekend.

The pre-owned business is driven much more by the Web than the new vehicle business. CarMax was able to move out quickly with public money as they were among the first through their Circuit City connection. That gave them a toe hold and they have made the most of it. I rarely meet anyone who complains about CarMax. But then, I know I lot of franchise dealers with high CSI scores and happy customers too. A lot of the dissatisfaction with auto dealers happens during financing.

Some consumers DO have a credit score over but their DTI debt to income makes them a ticking credit time bomb. They are often radically upside down in their trades. A bank might approve their loan, but not for the amount they need to make the deal bankable. Then you get into the credit tiers. There are typically 4 credit tiers, from — Most cut off at The risk priced interest rates are all over the board. So are DTI standards as well as job time requirements, mortgage or renter requirements, etc.

CarMax has their own finance company. I once went to a CarMax with a video camera to document one of their locations for a Japanese client as an example of a new American trend. Seems like a recipe for being taken advantage of. When I bought my Abarth a year ago, I walked into FIAT with a 1. Their advertised rate on the Abarth was 2. I have no doubt that had I not gone to the CU first, they probably would have just given me the 2.

No CarMax near me, unfortunately. Though I usually have people lined up to buy my cars. I have yet to trade one in, though the Abarth may be the first, due to the sales tax issue. I did something similar once — I had pre-approved financing from my credit union on a used car. I ended up paying the loan off early even though the rate was great at the time for a used car. My iron clad rule for car buying is payments or out-of-warranty repairs, never both on the same car.

So I always take the longest term I can get at the lowest possible interest rate, but it is paid off by the day the warranty runs out. Thanks for the article. Anyone know if their salesmen make commission? The other was a 5 year old Saturn Vue. Obviously I did not sell that to them either. They were always friendly there. Unless they have changed their compensation plan in the last year or so, they pay Sales Associates a decent for sales base salary and a flat fee for each sale.

I have also used their dealerships to test drive multiple vehicles at one location and in a low-pressure environment. But I would never buy from a No-Haggle dealership based on principle alone. Haggling is one of my favorite parts of buying a vehicle!!! My step-mom bought a Hyundai Sonata from them in and she raves about the Carmax buying experience! Whomever paid 19k for a 5 year old CR-V is an idiot — loaded or not. A new midrange AWD CR-V is Guess who I sold the Honda to…and then went to a different dealer to buy my GTI.

Having recently taken the Uniform Commercial Code financial instruments training class at the Fed, I questioned them on what the hell that meant. No good answer, they were making it up as it went along. AND they DO always need to have people coming to their site. AND since most people owe more money on their trade than its worth, they need to trade it in to have a chance to get financing on a different vehicle.

So sometimes CarMax can sell someone on trading in instead of just selling their ride. After all, there is no check to issued in many cases. Often the consumer has to pony up their own check to complete the Should You Trade Options Over The Weekend of their car. If the consumer is hell bent on a new vehicle, they are probably better off going to the new vehicle dealer.

Yes, but there are all sorts of credit scores including car loan score, mortgage score, credit card score, with different weighting. And then, it is probably only limited Should You Trade Options Over The Weekend scores over a threshold. Others in the family have higher scores than he does despite the fact he has never missed a payment on anything in his life.

That is the real secret — you have to actually use credit to have a really high score. They are ultimately screwing themselves for those times when they actually NEED credit. Technically, I could pay off my house tomorrow. Ultimately, the reason I can get a mortgage at 2. It gives you the flexibility to manage your money better. My general rule of thumb is that if I can borrow at less than the rate of inflation, I do. Otherwise, I too tend to pay cash.

Relatively few, in the credit score cross sections, succeed. Fully a third of consumers are BHPH and sub prime credit. Everyone else has an adventure. That almost forces them to buy a domestic as lenders, for some reason, still look at a rebate as cash down. Many of those just pay cash. I never bought new cars until I was at a stage in life where a car payment was rounding error in my finances. I spent a LOT of years in the new car business and one thing I figured out early on.

EVERYONE DRIVES A USED CAR. So why not buy one where the bulk of the rapid depreciation has already taken place? Of course, if everyone listened to me there would be no used cars. If there are no used cars sold from new, where would used car inventory come from? I ran the numbers on this a couple of times. Our tax rate is 6. I look at the fixed cost of the car as consisting of three parts: depreciation, maintenance, and repairs. If you have a new car under warranty, your repairs are zero, your maintenance is low, but your depreciation is high.

As the car gets older, maintenance increases, and the occasional repair is required. When I recently went out car shopping one of the cars I looked at was a CPO 3 series BMW. Plus, that car was going to need a set of tires in a year or so, was probably well into needing front brakes, was halfway into needing struts and shocks, and whatever other maintenance a BMW gets at 50, miles.

Plus you get all the new technology, new safety stuff, and a better warranty. This is a well written and concise post. The curve may have flattened a little in the past ten years but wearable items are still a static cost. Lenders should be competing for your business. People need to understand this. Even if you can pay cash, charge it, make a few payments, then pay it off. Damn, we sound like Suze Ohrmann here. At the ages of 60 and 65, that appears to be sufficient to qualify them for the lowest rates and promo offers.

She and my dad have are the only people I know who pay cash for a new car and immediately start making payments into a savings account to pay for their next one in years! Meanwhile, between the ages of 16 and 37, I never kept a car long enough to pay off half the original loan balance! I was 37 2yrs ago when I finally kept a car long enough to pay it off. Best of all, my car Mazda3 only has 96k miles on it and looks almost new, so I may have another years without a payment! I love my Suze!

When I was looking at making an investment in real estate, the bank cited two issues that essentially regulated me to zero credit history status. How likely or unlikely you are to default. Below a certain point banks will add in interest rate to pay for added collection and default costs they expect. When your score gets low enough, the only way you get financed is with a large chunk of down payment AND high interest rate. And you pay every payday and your vehicle probably has a GPS locator AND a starter interrupt on it.

Franchise law merely clears up the gray areas created by the high priced and most imaginative attorneys who work for the OEMS. Trying to blame franchise law for the current system is either due to ignorance or disingenuous. BUT if an OEM wants to sell direct, there is an easier way for them to try it. SCION dealers would LOVE to sell their SCION ticket back to Toyota. If you want price fixing to make consumers happy start with the FTC.

Other than that, the math will stay as it is. For every consumer who negotiates a better than average deal, someone has to pay above average to maintain the average. The toughest negotiators come from countries or regions where barter is part of their culture. People from India and Korea come to mind. My suggestion to the timid is to go to a One Price store or take an Indian or Korean with you on your shopping trip.

But OEMs are free to buy out their dealers. Ford already did it once as part of their grand experiment. TX might be a problem, and perhaps a couple of other states, but by and large there is nothing standing in their way except deep enough pockets. The OEMs understand the current distribution method works well for them. Imagine the exodus of capital should they announce such an initiative.

Perhaps the government should buy the dealerships and operate them as a public service? Maybe this comment belongs more on Curbside Classic than TTAC, but that CarMax commercial where the guy trades in his cherry 1st generation Plymouth Voyager caused me to audibly moan. Over time, these things have a way of taking care of themselves.

The car business is easy. Just look in the book and find out the value of a used car. Anyone can do it. I bought a new car from Carmax and traded in my old truck. There are a handful of Carmax stores that also have new car dealer franchises, and the one near me has a Nissan dealership. I bought a leftover Pathfinder for about 9k under sticker after rebates and discounts and traded in my Ranger.

Also, Doug DeMuro who used to write for here and now writes for another car blog swears by their extended warranty on his Range Rover. My brother was able to find a manual trans Fiesta, in green. So off to CMax! And there were other manual Fiestas at other Carmax stores in the area. But, but he got one shipped in from TN, since it had less than 30K miles. I have never met anyone that was negatively implicated by a lack of consumer credit because they paid cash.

My approach to buying is to ask what the dealership needs to sell something for. And my experience has been that most dealers will high-ball me at which time I thank them for their time and walk away. They get one shot at me but most dealerships always want to dance. My mom likes her CX-9 and, for now, she needs to keep it because we take care of my year-old grandmother. I know that her quality of life has really been on a hard slide for the last months, with FOUR different UTIs and four separate hospital stays she was in the hospital for 32 days in all last year.

She has only had one car in my entire life that I knew she was crazy about! It was a special-ordered Jeep Grand Cherokee Laredo, 2WD with the legendary AMC 4. Mom wanted the Moonroof, so her JGC had to be ordered and we waited almost 10 weeks to get it! My step -grandfather was a Chrysler Retiree and he called someone higher up in the Labor Union and someone he knew in Michigan also.

Maybe we just got lucky. Maybe it was made on a day when the UAW workers had all their faculties working simultaneously and all were lucid of mind, like maybe mid-morning assembly before the drinking, smoking and toking commenced. There were so many comments they only display a small number. We bought the Overland Summit V6 in Auburn-metallic color, not by choice but by default because it was the only one like that there. IMO, it has too much equipment that never gets used. Long story short, the wife loves it, now has close to 40K on the clock and hopes to keep it until the end of this year or the end of next year, without any problems.

Electro-Hydraulic power steering fluid seems to disappear without leaking out anywhere and I had to add some twice within the last year, just to bring it up to factory level. I use Castrol W conventional motor oil 6qt and change oil between K miles depending on mileage and color. About once every six months, sometimes more often if we travel great distances, or tow a trailer. When I change the oil, it is usually down one full quart in K, so I refill with 6qt fresh oil and a new Purolator oil filter at change.

I rotated the tires myself every K miles and the Should You Trade Options Over The Weekend on there now seem to wear a lot better than the OEM Goodyear. Windshield wipers seem to wear quickly, though. Definitely cheap rubber OEMs came with the car. When we trade this GC, my wife and I have decided on buying a Sequoia 5. If not, we thought an Armada 5. If there is such a thing as recommending a JGC, a friend of ours bought a Limited 5.

Then again, she owned a Murano before that, which managed to blow two CVTs in five years, so anything she got was an improvement. I apologize for the delayed reply but my schedule is packed to the point that I only read ttac before going to bed at night, just to unwind from the day. Some dealers take the One Price approach. Their competitors love them for it. Since I am a no-nonsense kinda guy, I may end up keeping the Grand Cherokee and passing it down to one of my grandkids, like I did the Highlander, now the daily driver for our yo grand daughter.

It may not be sporty or flashy, but it beats walking or riding the school bus. In a way it is sad to realize that me buying the Sequoia and, later, a new Tundra 5. I just checked, out of curiosity, and the JGC is For reference, the Chevy Tahoe iss I recently drove one with the 3. The exterior design is handsome, if a little bland and generic, but the interior was the first thing that really impressed me.

The last I heard, Toyota was planning to continue offering all of their body-on-frame aka- truck-based SUVs for the foreseeable future and that was their position seven months ago. So that includes the 4Runner, Sequoia, Land Cruiser, Lexus GX46o and LX…although dropping the GX would make the world a much prettier place. Inthe first year of the current model, they sold 30, But the Platinum appears to be a Lexus except for the missing Lexus badges!

My wife bought it because she loved the styling and color when she saw it on a trailer parked adjacent to I as we hurled east through Phoenix in her Highlander in Nov My wife and I will be 68 on our next birthdays and the next vehicles we buy will most likely be the last vehicles we purchase for the remainder of our driving life. We converted to Toyota in with the purchase of that Highlander and have not been disappointed.

But often the best-laid plans turn to sh! And not turning down FREE money is one thing that adds up quite nicely over the course of the years. Why might borrowing be beneficial when one can pay cash? An example might be when an OEM offers a subvention like ZERO percent or. My theory is that the OEMs have already priced in the next round of rate subventions expected because interest rates will most certainly rise. After all, after Joe Garagiola, the strategy was to price in the money the OEMs knew they would probably give back.

And the system became VERY complex. Vegas has better odds of paying out. ESAs are quite complex to shop for. The Dealer has the advantage because they can lump the premium cost into the loan so the consumer pays it monthly. Consumers might want to consider saving back some down payment money to use it to better negotiate their service contract. Consumers almost always collect on service contracts. For example, if you buy the right coverage, your ESA pays for a rental while your vehicle is in for warranty work.

The issue is handled between the dealership and the ESA company. Having a transferable ESA on your car makes it easier to sell it or trade it in. HINT: When looking at pre-owned vehicles, look for any evidence your vehicle of choice might already have an ESA on it from the previous owner. For the consumer, paying a transfer fee is sometimes better than buying a new ESA. At least it provides options.

I got my start in the insurance industry, and an extended warranty is nothing but an insurance policy. Otherwise the company backing the policy would rapidly be out of business. After all, there has to be enough profit in the policy to give everyone in the selling chain their piece of the pie, have enough money left over to pay out for repairs, and still make a nice profit. Ultimately, insurance only makes sense when losing a little bit of money can potentially save you a HUGE amount of money in the event of a claim.

Or a few hundred a month in case you get cancer. So again, rather like buying and selling at CarMax, it comes down to are you willing to pay a potentially STIFF price for the convenience of whatever happens to go wrong with your car in x years and y miles only costing you whatever the deductible is? And the warranty companies are exceptionally good at writing the small print such that they get out of an awful lot of common, expensive repairs for example most will not cover infotainment systems.

And the worst part is you are effectively pre-paying for repairs that are going to be at best years down the line — and typically paying interest on them to boot! So you are losing the time value of the money and the beneficial side of inflation — a dollar today is worth more than one years from now. And while a transferable warranty may make the car easier to sell — it is a very expensive spiff. You will NEVER make your money back on that, any more than on any other expensive option package on a car.

Anecdote does not equal data, but I do not know anyone who bought an extended warranty on a car who came out ahead on it. Even on the BMW forums, every time someone posts that they made out on one, there are replies from people who bought one and never used a penny. A new car is in many cases and much more so in more normal times an expensive indulgence. But of course as you said, if no one bought new cars there would be no used cars!

The fact is, most DO. They might not collect as they pay in premium however but they are at least covered in the case of a catastrophic mechanical failure. I have no vested interest one way or the other. One might find the car one wants at one dealership and the right ESA at another. Like I said, it can be complex to buy the right coverage and shopping carefully is important.

Dealers make money two ways in the Service Contract business. They make money when they sell an agreement and they make money when they do the service. Some dealer ESAs include a dealer reserve program which is then re-insured. There is often investment income to be had. Each state has its own laws regarding Service Contracts, Extended Service Agreements, and Extended Warranties and how they can be assembled and administrated. The big expense was the replacement inner tie rod ends, which were unavailable on that car, at least from Chrysler.

They only sell outer tie rods, so it required replacement of the complete rack assembly. The aftermarket will sell you inner tie rods, so you could argue that I could have had them replaced cheaper than what I paid for my plan by an independent shop. That would be a good argument, but I did have a few other things repaired sunroof, horn switch, etc that still put me ahead given what I paid.

How was Ford able to establish the Ford Collection, until that experiment cratered because it was such a HUGE money loser? If you want to sell vehicles at retail, you DO need a dealer license. In most states an OEM can acquire a dealer license but they might need to form a separate corporation to do so. To sell used cars to end user you also need a dealer license, something that has nothing to do with OEM or dealer lobbying. Without banding together it is impossible for a single dealer to stand up to their OEM.

This is one reason you see so many dealers these days with multiple franchises. Its also why you see the OEMs monitoring the public dealer groups so closely. Financial services authority register financial services authority register resent dealer groups who command a lot of market. Demand cycles still impact auto OEMs.

The customer of the OEM is the dealer. The end user is the customer of the dealer. The OEM charges the dealer for each car the moment it rolls off the line. For a dealer to get a franchise agreement the dealer has to have Should You Trade Options Over The Weekend substantial floor plan account and grant open drafting authority to the OEM. The dealer system allows for inventory buffering that allows the OEM production model work. Otherwise, the OEM has to have access to HUGE open air lots to park vehicles they build on speculation.

They get to keep the asset on their books at the price they would charge a dealer if only they could find a dealer to sell it to. But there is no positive cash flow. Cash flow in the auto business can dry up faster than those who have never participated in the business can comprehend. If Tesla is successful in establishing and maintaining a direct sales model long term, it will indeed be a triumph. Will it mean the end of the current traditional system? Why would it be? But the business on the whole does just fine courting new buyers.

Those who had LEASED those vehicles had nothing to worry about. Other heavies suffered similar fates. Regarding Tesla and TX. Tesla has a showroom in Austin. It is a two minute walk from the TrueCar call center in Austin where I have also been j trader trading platform guest, although a reluctant one. A friend in Dallas has leased many of them. Despite stories to the contrary Teslas can be had in TX.

There is also a showroom in Dallas as well as Houston. If they are illegal, why do they exist? Again, my comment was to those touting the Apple model as if gadget sales somehow translates into new vehicle sales. After learning so much about CarMax wholesale and their model in general from this piece and the comments, I initially tried them out to get trade-in baselines to guage dealers offers for my trades.

This tactic helped me to guage the seriousness of dealers interest in gaining my business. In the end, I also purchased the replacement vehicle fromt them as well. I would now recommend anyone looking to trade a vehicle get a price from CarMax just for the extra leverage it gives you with a dealer. You must be logged in to post a comment.

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Should You Sell Your Car At Carmax? By Steven Lang on March 7, This is how it works. Nobody else does this when it comes to cheap older cars. Personally, I would test out all of these avenues. If Carmax offers the best price, take it. In which case the address to my dealership is…. Posted in Hammer TimeNews Blog.

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My role there was to put the cars on the lot after doing a final QC on them from the reconditioning center ours was not big enough to have its own recon shop. Pragmatic, real-world info that applies to me. Well written, and carrying the weight of experience. There are times when lowest possible price is not the be-all, end-all. You have a very well constructed comment. It hurt to see you use it so lightly, rape is not to be taken lightly.

You would be wrong. The night before pickup, I got a call from the dealer to confirm the details of the sale…. And nobody mentioned this to me until now? Can you refund my deposit right now? DEALER: I can put in a note, but it will take weeks. I thought folks preferred no haggle? Just take their offer and go home, right? Carmax and CC were under the same parent company. Quick Answer: The Sales Tax credit.

And that is why the BRZ is outselling the FRS. A VERY good point. It might have something to do with the contracts in place. RE: What Apple does right can also be seen as what others are doing wrong. Some people hate car dealers but enough like them enough to purchase millions of vehicles each year. And some examples of those regulations would be? And the FTC enforces this precept. What I REALLY want is for you to learn enough English so that you can read things correctly.

Actually, auto dealer franchising began before Henry built the first Model T. CarMax exists because they have carved out a niche for themselves using money raised via the stock market. One reason is they have voluntarily entered into contracts with their partner dealers. If you could persuade the FTC to allow it you could have uniform pricing now. I sold 2 cars there.

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Mar 07,  · March 7th, at am; I worked for Carmax for a summer about 10 years ago, the criteria for a Carmax lot car is less than 5 years old and less than. I want you to imagine for a moment that you ’ve already achieved huge success trading for a number of years and you ’re now living it up in the Caribbean, sipping. Feb 13,  · The buildup to the NBA trade deadline typically outshines the actual event. In less than two weeks, we'll know whether that applies to the swap season.