Some of the members here dislike Carmax but I live in a state, TN, where the amount dealers charge for the bs pure profit dealer doc/admin fee has exploded. The range is $600. to $1300. for new and used cars, and very non-negotiable. They give you some bs sob story about the possibility of being sued if they don't charge you the fee. Some states, i.e. CA, NY, have put a cap on this fee. TN has no cap and the fee is not required by law.
Carmax does not charge any dealer doc fee for used vehicles. In states , i.e., MD, WI, where they sell new vehicles they charge $99.
We decided to trade our 2008 Nissan Versa SL HB in for a SUV. One good thing about Carmax is that you can check their inventory on-line and then go and try out multiple brands, i.e, Honda CR-V, Nissan Rogue, Toyota Rav4, Ford Escape. We (my wife) liked the Ford Escape SE with the 2.0l turbo. With its options the Edmunds, NADA, KBB, dealer price for the Escape averaged $21,700. Yeah, I know this price is just ballpark. The car was in excellent shape, had 9K on, it, and they wanted $21,000., an ok price.
The Edmunds, NADA, KBB average clean trade in for our Nissan was $6630., $7750. private party. They offered us $7500. and a $525 credit if we purchased a vehicle from them. It has 58K on it and besides mats, only standard options, a few parking lot dinks, and stone chips on the front bumper and hood.
Here's the part where I think Carmax tries to fool customers into thinking they are getting more for their trade in. They never mentioned that the $525. credit is the TN 7% sales tax reduction credit for your trade-in. So I was lead to believe that they were going to give me $8025. for my trade-in. I thought wow that's a great trade-in amount let's do it. TN is one of those states that allow you a trade-in tax credit. http://www.realcartips.com/selling/010-states-that-allow-trade-in-tax-credit.shtml When the saleman started filling out the invoice I then realized that I was getting $7500. not $8025. for the Nissan. Still not a bad trade-in price but very deceptive. The salesman swore that he told us, which he did not, that the $525 was the sales tax credit. Of course they try to sell you an extended warranty which starts at $1399. and up dependent on the deductible. I choose not to take it. Other than the TN state sales tax, and title and transfer fee there were no other fees. Except for the bit of trickery over the trade-in price it was a pleasant buying experience.
Pros: The trade-in amount and price of the new vehicle were fair. Of course this should be judged on a case to case basis. Could I have gotten more than $7500. on Craig's list for my car, maybe, but I would have not gotten the tax credit. My car will probably be on their lot for sale this week for ~$10.5K, but that's capitalism.
There is very little pressure from the salesman. Since everything is no haggle there is no negotiating, I kind of miss that though, no running back and forth to check with the manager. You work with one salesman through the whole process. No TN dealer doc fee.
I purchased my vehicle at the Knoxville Carmax. They will transfer vehicles to Knoxville from their TN Carmax stores, and their Norcross (Atlanta), GA store for free. They charge a fee to transfer a vehicle from their other stores. If you decide you do not want the vehicle the transfer fee is non-refundable.
Cons: I found some of their vehicle prices to be high. You may be able to get a better deal elsewhere, but in TN with the dealer doc fee it may be a wash. You may be able to get a better price for your car selling it privately, but you lose the sales tax credit.
Not sure if my salesman just forgot to mention that the $525. credit was a sales tax credit or if this is their normal business practice, a bit deceptive.
Even though we paid cash you still have to go back and see the financial officer, but it's just to sign a few more papers, no pressure from him to buy anything.
Carmax does not charge any dealer doc fee for used vehicles. In states , i.e., MD, WI, where they sell new vehicles they charge $99.
We decided to trade our 2008 Nissan Versa SL HB in for a SUV. One good thing about Carmax is that you can check their inventory on-line and then go and try out multiple brands, i.e, Honda CR-V, Nissan Rogue, Toyota Rav4, Ford Escape. We (my wife) liked the Ford Escape SE with the 2.0l turbo. With its options the Edmunds, NADA, KBB, dealer price for the Escape averaged $21,700. Yeah, I know this price is just ballpark. The car was in excellent shape, had 9K on, it, and they wanted $21,000., an ok price.
The Edmunds, NADA, KBB average clean trade in for our Nissan was $6630., $7750. private party. They offered us $7500. and a $525 credit if we purchased a vehicle from them. It has 58K on it and besides mats, only standard options, a few parking lot dinks, and stone chips on the front bumper and hood.
Here's the part where I think Carmax tries to fool customers into thinking they are getting more for their trade in. They never mentioned that the $525. credit is the TN 7% sales tax reduction credit for your trade-in. So I was lead to believe that they were going to give me $8025. for my trade-in. I thought wow that's a great trade-in amount let's do it. TN is one of those states that allow you a trade-in tax credit. http://www.realcartips.com/selling/010-states-that-allow-trade-in-tax-credit.shtml When the saleman started filling out the invoice I then realized that I was getting $7500. not $8025. for the Nissan. Still not a bad trade-in price but very deceptive. The salesman swore that he told us, which he did not, that the $525 was the sales tax credit. Of course they try to sell you an extended warranty which starts at $1399. and up dependent on the deductible. I choose not to take it. Other than the TN state sales tax, and title and transfer fee there were no other fees. Except for the bit of trickery over the trade-in price it was a pleasant buying experience.
Pros: The trade-in amount and price of the new vehicle were fair. Of course this should be judged on a case to case basis. Could I have gotten more than $7500. on Craig's list for my car, maybe, but I would have not gotten the tax credit. My car will probably be on their lot for sale this week for ~$10.5K, but that's capitalism.
There is very little pressure from the salesman. Since everything is no haggle there is no negotiating, I kind of miss that though, no running back and forth to check with the manager. You work with one salesman through the whole process. No TN dealer doc fee.
I purchased my vehicle at the Knoxville Carmax. They will transfer vehicles to Knoxville from their TN Carmax stores, and their Norcross (Atlanta), GA store for free. They charge a fee to transfer a vehicle from their other stores. If you decide you do not want the vehicle the transfer fee is non-refundable.
Cons: I found some of their vehicle prices to be high. You may be able to get a better deal elsewhere, but in TN with the dealer doc fee it may be a wash. You may be able to get a better price for your car selling it privately, but you lose the sales tax credit.
Not sure if my salesman just forgot to mention that the $525. credit was a sales tax credit or if this is their normal business practice, a bit deceptive.
Even though we paid cash you still have to go back and see the financial officer, but it's just to sign a few more papers, no pressure from him to buy anything.
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