You said the same thing last year and the year before and CarMax is still alive and still refusing to haggle or drop the price.

@ScrollTD

Ай бұрын

He never said it would fail or crash, he isn’t wrong about Carmax being underwater. However carmax is like a bank who is underwater on loans, they won’t sell until it’s too late and they lose TONS. He is right to sell now before prices continue to slide, but carmax will not heed such advice and will lose their ass when time comes. This will not be quick since they didn’t finance these purchases.

@despoe

Ай бұрын

Hahaha! Everybody loves to use Carmax for content. This is an old topic. I mean if Carvana is still around then I'm sure Carmax won't go anywhere.

@juggle

Ай бұрын

He said this about Carvana too, and since then Carvana stock is up like 500%

@justSTUMBLEDupon

Ай бұрын

@@juggleCarvana is a meme stock. Only reason why it’s up. Earning report was terrible.

@lot2196

Ай бұрын

Same for Carvana. It's still around.

it is 3 years since i started watching "carmax is in trouble" videos

@emiliosemporium3977

Ай бұрын

Right!!!

@DanaColeman08

Ай бұрын

He said the same about Carvana. Always doom and gloom.

I love selling cars to places like Carvanna and Carmax, but no way in hell I'd ever buy from them.

Not having to deal with the people at a dealership is worth a LOT.

I like the “no haggle” concept but buying a used car for $1,000 less than new is beyond crazy. I don’t understand how they sell a single car at their prices.

@cliftonixs

Ай бұрын

I got my last car from car max. Spent 2k under the sticker price of the car. Fair deal after all my calculations. They also had a very specific model/color/engine I wanted and the brand new 2023 models did away with that engine, so used was the only way to go. During the test drive, they handed me the keys and said be back in 30minutes. I drove it as I would drive it, rather than have a salesman in the car with me. I think what sold me was that you can return the car in 30 days or under 400 miles for any reason what so ever. Of course, no accidents. But that gave me a chance to take it to a mechanic, get it checked out, and it was all good. 1.5 years later, no problems at all and I love the car. I was in and out of there in about 2 hours. All paperwork done. Tags came in a week or so later. Car all registered and everything's 100%. I think after following lots of car channels and hearing what Lucky and other car guys say about dealers, I just don't want to deal with the haggling. Even when buying brand new. Bottom line, I liked the carmax experience. Would buy from them again, IF their prices are fair.

@justSTUMBLEDupon

Ай бұрын

I don’t get it either. But apparently people are buying it because they refuse to lower the prices. Whats the point of buying a used car at 25,000 when you can get the same model new for 28,000?

@jrgb9945

Ай бұрын

Because of stupid people, Ukrainians and such

@abrahammc2125

Ай бұрын

Its because peace of mind. And carmax was a very good proposition before 2020. The car market went screwy and sure carmax increased prices because they were paying more for cars.

@iceman9678

Ай бұрын

@TheRealCatof answer: there is a shortage of Men in the USA. There are plenty of betas that defer/rely on woman for direction. It's sad in the most pathetic of ways.

We've all been saying for a while now, what like a year or more? CarMax and Carvana are in trouble... They're done! Well slap me silly and call me Suzy! These businesses are still open. And the amount of cars I see on the road with CarMax and Carvana license plate frames is increasing. Which tells me something very important, never underestimate the power of the average American with a shitty credit score and $800 in their pocket.

@oleradiodudea.m.4735

Ай бұрын

Carvana's primary lenders read betwe3en the lines and saw how messed up things were. I think they stepped in at the right time and took control of the wheel to keep the thing from going over the cliff.

@JasbirSingh-zj1fg

Ай бұрын

I don't think that the reason why Carmax and Carvana are still doing good is because of "the power of the average American with a shitty credit score and $800 in their pocket." They're doing well because of the power of all those Americans who HAVE the money. Don't forget that there's a big chunk of Americans who've been saving their money and have not bought cars over the last 2-3 years. Well, they finally are buying cars!

@justacinnamonbun8658

Ай бұрын

@@JasbirSingh-zj1fg I don't know anyone in their right mind that would go to CarMax or Carvana and willingly pay $3000+ more for the same car you can get cheaper at an independent dealership, and then sign up to pay 11% APR on a 60 month loan for said overpriced car...... Unless they can't get financed anywhere else and I know Carvana at least, will finance anyone with a heartbeat. People that have money and good credit don't waste their time at CarMax and Carvana. Duh..... 🙄 What are you 🚬 bro.

@dennisd9554

Ай бұрын

@@justacinnamonbun8658 You really do have it wrong. People with money don't have TIME. At some point, for many people time is more valuable than money. CarMax saves you TIME.

@justacinnamonbun8658

Ай бұрын

@@dennisd9554 So go spend $40k on a $35k car at CarMax, it's your money not mine. 😆 People like you are the reason why prices for anything get out of control.

We just recently traded in a tacoma for what we paid for it in 2019 and got a larger truck. It was a lateral move. I looked around and it seemed like the price was between good and great. So it was generally positive. This is the 2nd time we have bought a car from carmax. Both times they had the best price (not by a lot). Their business model worked for me. Now, I am absolutely NOT a haggler so this is also a factor for me. We have bought 4 new cars from toyota dealerships and I always left feeling screwed over. In fact, I am a doctor and gave one of the salesman casual medical advice, which saved him 200-300$ a month and he still screwed me. Go figure.

@ronhall3686

Ай бұрын

Most new vehicle sales reps and finance managers get paid on straight commission or base pay plus commission. The incentives to back load deals is a typical business model.

I worked for Carmax for 13 years and I routinely watched the Head Buyers lower prices according to how long it was on the front lot and it wasn't 6 months it was more like 6 weeks. If a customer pressed for a better price the sales person went to the Head Buyer and asked it he could do anything. He would look at a printout and often quietly change the price.

Love selling my used cars to Carmax, they always beat the dealership tradein value and make it worth it to forgo the hassle of a private sale.

@worldhello1234

Ай бұрын

Yes, Carmax is better than the worst rates you could get - as dealer tradeins.

@TheWityful

Ай бұрын

Rather hassle a little than leave 20% on the table

@abrahammc2125

Ай бұрын

Private third party will always be higher than trade in. You have to list reasonably and wait for a buyer. If your car is in excellent condition you shouldnt have an issue selling it.

@dennisd9554

Ай бұрын

@@abrahammc2125 And have a ton of people calling you all the time. And worry about scammers. Not everyone wants to deal with that.

@abrahammc2125

Ай бұрын

@@dennisd9554 I only use text. But then again all the business is handled in person, texting is just to figure out a time and a place. But i get what you mean there is alot of scammers like eastern europeans, latinx, etc. Its still the best interest to sell private party because I would rather someone who needs a car get it. I cant offload at retail value because thats not how the market works, but if i am getting what the car is valued at and it goes to a person who will drive it rather than to someone who is going to put it up for sale for "quick money" I am all for it.

From my experience, I've found CarMax to be generally $2K-$3K more for a similar vehicle at a typical dealership; I'd rather haggle and do my due diligence to save money than to pay that much more for an identical vehicle that is being sold at a typical dealership.

@justSTUMBLEDupon

Ай бұрын

,Most people HATE haggling and the whole car buying experience in general. I rather pay the 3000 more and go there and get better guarantees than a dealership where I drive off the lot and the car needs 7000 in repairs.

@allamar9083

Ай бұрын

Then add Delivery fees ….. No!

Anybody who thinks Carmax 3:52 having their own finance arm is a conflict of interest doesn't know what a conflict of interest is

@joegresells2161

Ай бұрын

@kevinbarry71 I'm thinking you don't know what a conflict of interest means? It's a two part definition with this part, "a situation in which a person is in a position to derive personal benefit from actions or decisions made in their official capacity" is the obvious issue at hand. A lending institution should be more weighted to strength of borrower whereas the car dealership is interested in selling the vehicle for profit. If the "lending arm" gains by the sale of the vehicle then that would be in direct conflict of weighing strength of borrower vs profit vs risk. The lending institution would derive a personal benefit (profit for the lending institution) outside the criteria that would actually benefit the lending institution.

@kevinbarry71

Ай бұрын

@@joegresells2161 you are insane. They do not stop you from borrowing from a third-party.

@joegresells2161

Ай бұрын

@@kevinbarry71 So it's confirmed you don't know what a conflict of interest means. As lucky lopez pointed out a lending institution lowering points to secure a loan/or sale would be a conflict of interest for a lending institution since a lending institution is not in the business of selling cars. Where I thought lucky was going, and this is my interpretation, is that because they had their own lending institution they also felt invincible as lending for used cars dried up which caused them to overbuy vehicles (another conflict of interest as buyers not having access to capital to buy something is the first sign a business needs to slow down acquiring more inventory.)

@kevinbarry71

Ай бұрын

What he actually said was, some think it is a conflict of interest. It is not. They have no obligation, legal or otherwise, to price themselves the same as others. If they want to lose money, they can do it.

@memario5545

Ай бұрын

@@kevinbarry71 so what you're saying is dealerships have an 'interest' in scheming the prices. Might come into 'conflict' with making sure the customer gets the best deal. Probably not a conflict of interest though

Back in Feb 2021, I was trying to sell my 2002 Honda Civic. 205k miles, and the roof leaked badly. Carvana offered $220 for it, so I went to Carmax, just to see if I could get an extra $100, if possible. They gave me $2500! I couldn't sign the paperwork fast enough.

I love carmax dealer auctions, 1000 times better than Manheim.

@DanaColeman08

Ай бұрын

They are overpriced. I do better buying from Enterprise and Hertz direct. I don't buy old cars with high mileage.

Used Car Dealer in Northeast College Town: May is our busiest month of the year because students buy cars due to new jobs upon graduation. We sell mainly Hondas and Toyotas from $7,000 to $27,000. The 1st half wad busy, second half not so much. Local New Car dealers must have incentives so people have bought from them because they could finance (we don't finance, or take trades.) I had followed up with the customers on the phone to find out what the next steps were. Our repair shops are still bustling at capacity, including transmission repair and replacement engine installs. We had been buying 1/3 of the cars we typically buy at auction yearly. However as of late we have found deals too good to pass up. We bought 9 cars last month. We own our inventory, so we can sit on our cars, but we are filling up. People are also being careful with their money.

@ChuckFinlan

Ай бұрын

You ain't seen nothin' yet..... just wait until this fall. It's going to be nasty. John Q. Public is broke and the average credit card balance is just over $6200.

The thing I love about CarMax is I can take their quote into another dealer when I buy a new car and the dealer can’t low ball me on my trade. I’ve done this three times. Twice, the dealer stepped way up on their initial offers, once I walked and sold the car to CarMax. I then went back to the dealer the next day and got a much better deal than what they would do with my trade.

@LuckyLopez777

Ай бұрын

Lol

@dennisd9554

Ай бұрын

I had a dealer pull up a Carvana report on my car that was LOWER than the Carvana quote I had run previously (and had a printout of in my pocket). He likely typed in some stuff that would lower the estimate.

@jeffreycampbell5757

Ай бұрын

Agree 100%. Last year, I printed out a CarMax offer for my Explorer and showed it to the dealer. The dealer did not budge on his offer Friday evening. By Saturday morning, however, the dealer called and said he would accept the higher CarMax offer before I got a chance to even get to CarMax and have my car physically evaluated!

Compared to any other dealer in my area, carmax was a dream to work with and i literally just bought a car for $1000 less and with 15k less miles on it than the beat deal i could find at a traditional car lot. Carmax is great. I will buy there again soon.

I worked at KMX for a decade. They do lower prices. Often. Also, they lowered some prices by as much as 10k to offload inventory in 2008/2009. They will lead the market in the slaughter and recover first. Watch.

@Doggieman1111

Ай бұрын

LOL

@abrahammc2125

Ай бұрын

@@Doggieman1111 he isnt lying.. Carmax drops prices....

@sunnohh

Ай бұрын

If you know how to negotiate, carmax will deal. But you kind of have to be strategic, like be uninterested and show up in a new car. Stuff like that

@ashmatical23

Ай бұрын

@@sunnohh Carmax won't deal. Their prices drop randomly on the website (sometime rise) based on time on the lot and algorithms of what's going on in the market. They will not deal in person. That 90 day markdown he was referring to is "last chance" vehicles which are marked below what they have in it and if they don't sell they are sent to another market.

No way would I buy from carmax. Why should I buy a used car with miles that cost just as much as buying it brand new. The carmax customer is the idiot.

@commonsenseisntcommon1776

Ай бұрын

Because they finance people with SH!T credit

@abrahammc2125

Ай бұрын

Same as buying a preowned from a dealership. No different.

@beerwrenchgarage

Ай бұрын

@@abrahammc2125 No its not. CARMAX literally says "You will pay us our max profit." Any other dealer, you can go in and knock down the price to a fair market value. CARMAX customers are total idiots or complete wusses who 'dont like to negotiate, ewwwwww'.

@redtiger7268

Ай бұрын

@@abrahammc2125 I've been looking at a certain model car. That model used is asking $35k right now. I can order one from the manufacture, wait 2 months and have one new for $32k. Used car dealers work on the instant gratification crowd.

@romariosmith422

Ай бұрын

Atleast you can negotiate the price yah dunce ​@abrahammc2125

Their stuff is just way overpriced.

@maxdragon15

Ай бұрын

For you and I yes, but some people are just so lazy, or don't know how to find a good quality used car for much less.

@steak5599

Ай бұрын

For you and me, sure. But for some odd reason, people still manage to come up with money to drive them off the showroom flood. Don't believe me? Carmax still hasn't budge yet, and every automakers reported record earning last quarter with Increase in New Car sales. (with exception of 1 or 2 brand)

@alexpoker7725

Ай бұрын

So is uber eats and door dash.

@PatrickAllen-yi9us

Ай бұрын

​@@steak5599Most aren't coming up with the money. They're just going into debt making payments.

Carmax is good for something. If you want an unreliable fun car like a Range Rover or BMW etc and want to get a warranty so you can get it fixed without cost then CarMax is the place. They have very good warranties and actually do cover it.

I like to say I traded in my car for a house. Sold my 2019 Crosstrek to CarMax in 2022 and profited 10k. Took that money plus some savings as a down payment for my first home.

Carmax was paying a boat load for used cars in 2021 covid.. I remember I was offered $10K over for a used car that had paint damage.. (orange peal) but other dealers were not willing to take it

@jgg204

Ай бұрын

My neighbor made $7,800 profit selling flipping 2 Subarus to CarMax. I'm not even joking. First he did it with his 2020 model in 2021 and made $3,300 in profit. Then went right back to his local Subaru dealer and bought a 2021 with his eVIP program. Drove that for a bit and then went right back to CarMax and flipped that 2021 model and made $4,500 profit. He then took the $7,800 profit and used that as a downpayment on a brand new 2022 Outback he's still driving today. So for 2 years he drove Subarus not just at a net-zero cost but WITH $7,800 profit towards a brand new Outback. It was hilarious, carmax are such idiots

Lucky congrats on 500,000 subs! Would love to see video on banks you deal with when it comes to delinquent auto loans, and your ability to buy and sell cars. Can't speak to CarMax but I have noticed local used car dealers seriously discounting trucks such as 2012 Tacomas, especially if they have them for 100+ days. Really old cars that have 200k+ miles are also sitting.

"people enjoy haggling" - lol what? No. Haggling wouldn't be allowed at all these car dealers unless it gives the dealer the edge. Fake prices, fake haggling.

Carmax car prices always seemed inflated to me. With the market changing to lower prices all across the board their prices will look more inflated than ever. So as you stated Lucky, they'll get the opposite effect of what they got when car prices were going up. It will hurt them for sure. If they don't budge on prices, the price discrepancy will become more evident to the average consumer thereby hurting Carmax's reputation. They need to take the hit ,lower prices, move inventory and improve their reputation.

The no haggle policy is great for many people but is not a good deal when their cars are overpriced to start with. I will always believe that people who don't mind going a ' few rounds ' with the dealer will end up with an overall better deal.

@edhcb9359

Ай бұрын

Don’t go a few rounds with the dealer. Get internet quotes from about 20 dealers and at least one of them will give you a price that will knock your socks off every time.

@JamaicanMeCrazy

Ай бұрын

Yeah the small minority. If the customers mostly got good deals they'd get another system

@oleradiodudea.m.4735

Ай бұрын

I think most people will buy based on a monthly payment and that's how CarMax no negotiation deal is tolerated.

@iceman9678

Ай бұрын

@oleradiodudea.m.4735 This is very true. What people consider being able to afford is 100% based on the monthly payment. Absolute peak moonbat behavior.

@jgg204

Ай бұрын

only amateurs go 'round and 'round with a dealer. all of your shopping should be done online. the only dealer you should be stepping foot in, is the dealer you have already negotiated with to the lowest price and you are just there to sign papers and get keys

They can increase and decrease prices and still maintain a no haggle experience. They can do that daily.

@LuckyLopez777

Ай бұрын

I wish

Honestly, every car at a Florida car max is at least 5 grand overpriced. Offlease only didn’t lower prices and they’re bankrupt now. Same thing is going to happen to a lot of other car dealerships.

If I had a car to sell, I would contact CarMax. But no way I'm buying a car from them. I'd buy new first.

GREAT summary of the current situation. Here in the Mountain West, what you describe is EXACTLY what I see when I look around. And, the pressure builds as the economy weakens. And, like you, I'm waiting for the Magic Moment when the dam finally breaks, and CarMax (and some others!) bite the bullet and face reality!

Carmax no longer gives you good money for your car or truck like they used to. I had a very clean low miles Hemi Challenger & a Dodge dealer gave me $9000 more for my car than Carmax, so I wash my hands with them now.

@user-xk4vt9ye8j

Ай бұрын

CarMax sends me monthly offers on my 2015 Mustang GT and at 9 years old they still will give me $25k+ if I want to sell. My car is in very good shape but there’s no way I’d pay that for a used performance car.

@dennisd9554

Ай бұрын

Sold them my old car in February and they offered several $K over what any dealer offered on trade-in. Was even above KBB.

@rjm7166

Ай бұрын

Just 2 weeks from selling my leased vehicle to CarMax. I had made the final payment and my alternative was to turn it in at the dealership and get nothing…. but possibly a bill for end of lease charges. Very pleased with the simplicity and quickness of the CarMax sale experience.

I was about to buy a classic Cadillac, a 2007 DTS. Something I have always wanted. I found one, actually several, at Carvana. They were around $13-$16,000. I took the Vin and offered to sell it to Carmax. They offered me $800. Then I tried to sell a very similar car to Carvana. And they offered me $500. Meanwhile, they’re trying to sell me a near identical car for almost $16,000. This is when I realize, I want nothing to do with CarMax and Carvana.

I used to work at Carmax, and not only do they have a good business model, but they are also a good company to work for. Are they more expensive, yes a bit, but their cars are generally higher quality than the other non-franchise dealerships in our area. Lucky, you should dump the music, it's a huge distraction in the video. A big fan of your channel!

I'm a 5 time Carmax customer. In my opinion they can do no wrong. Love em.

They know what they're doing. Car inflation is about to return.

Carmax offers a lot less money, not a little. 😂 When I want a car, I tell the dealer what I want, what I’m willing to pay, and leave them contact info. This has never failed me.

A really well put together presentation. Thanks Lucky!

One month ago my son sold a 2017 Fiat 500 to Carmax. They gave him $7000. It was listed for $14900! It was a clean car needing nothing and is more money than new! Still on the lot.

@overk1llz

Ай бұрын

Fiat r junk never buy those.

Congrats on 500,000!!! Keep up the awesome work Lucky! 🙂

Great content here. I learned a lot and was fascinated. One of your best.

CarMax stays in business because of their financing for all credit types and are not restricted by financed amounts.

@bpb5541

Ай бұрын

Not when we go into a very nasty recession… which is certainly coming!

3 years later and dealers are still around peddling sky high prices with customers overflowing with money

Some people don't understand either you drive a car to work or you walk. At the end of the day it is your choice and I see alot of people driving cars that are around $400-$600 a month in payments

CARMAX only hires "Green Peas" who have no experience in selling or value building skills. The CARMAX model proved that anybody can sell a car when things are great. Many of these CARMAX dealerships pay now $20 per hour, so if a customer drags his feet or says that "I'm just looking around" the $20 Green Pea isn't going to hang onto that customer and "Gently push" to get them excited on the benefits of owning that vehicle. So many buyers get "Broomed" off the lot, because you are right the market has changed, customer's are skittish about the economy and are worried about their jobs, they have put on the brakes and they need a REAL SALESMAN to get them excited on the vehicle, it still comes down to who's going to sell who? The customer or the salesman. #carguy

Good. We need less companies selling used cars at inflated prices so us the customers can actually buy an affordable and reasonable used car

Negociating is always a bonus especially talking about cars!

They aren’t in trouble. They are doing great. I live right next to a carmax here in Dallas. They are booming.

@0:33 You don't necessarily need to haggle a lot. There are even agencies that buy on your behalf in American that are still cheaper. You must be a buyer that is willing to splurge for convenience sake for Carmax to make sense.☺ @3:46 It is not JUST business 101 if there is a conflict of interest, isn't it? 🤦‍♂🤦‍♂🤦‍♂ Many people - more than 1 - think of hitmen as outright criminal and unethical. Let's not address it! It is "just" business 101. 😂 @5:58 ... and they could afford to do that because of the convenience factor. @6:07 Not yet. They have still time to make more or less smart decisions before they possibly would have to file for bankruptcy.

Carmax aint in trouble. They did give me a sweet deal on a nice rubicon, like 1500 under lowest kbb... that was weird. Edit: should mention, this jeep was over 20k under what a new one costs, and also thousands cheaper than a bare bones one at any dealer ive found used... mines got ever single option available and was low mileage.

85% of last quarters profits were from their finance arm.

@robmacarthur3778

Ай бұрын

CAF is overstated because of the low provision for losses. Been a great short

@Skepticalcapital

Ай бұрын

@@robmacarthur3778 the other week was strange when it jumped up to $75+. My hypothesis was short covering to free up capital for GME / AMC. Also if they are going to be a finance company they should trade like one and not like a retailer. I remember the large losses target took back in the day from their, at the time, new credit portfolio.

economy is fine. dealers got greedy and increased prices by double in 4 years. MSRPs are up 50%. My 2021 Tacoma would now cost $12k more for a 4 cylinder engine with same gas mileage.

@bassandtrebleclef

Ай бұрын

😂😂😂😂😂

If they simply go to market based price and still “no haggle” the concept is still a winner.

Here in florida we had "Off Lease Only" No HAGGLE the price is what it is ,they had about 5 locations and they were always busy. Surprisingly they went out of business overnight.

Carmax gave me $2000 more for my 3 year old Colorado during Covid than I paid for it.

the founder of carmax used to bring his BMW M1 into our dealer in Richmond, VA. Brakes were always seized due to excessive sitting.

@LuckyLopez777

Ай бұрын

Love that car

Enterprise Rent-a-car Car Sales - good, well-maintained used cars.

It makes no sense, the prices for used cars are way higher than new!!! A fiat 500 abarth was 20k brand new in 2018 and with 30k miles car max is selling for 20k!! A honda type R FL5 new is 44k, and car max is selling them used for 49k. They are selling at covid prices!! Today !

Some people love to haggle because they believe they can negotiate a better deal at a traditional car dealership. Most of them are wrong. Carmax has more data than anyone else. They know what they can buy a car for and what they can sell it for. Nobody is selling cars right now and my money is on Carmax weathering the storm better than everyone else.

I took a Sunday morning visit to Carmax in Birmingham, Al. The lot was beyond full with excess cars.

In my area, the Miami, Florida, metro area, Carmax, lots are overflowing. I usually say no negotiations, no deal for me. However, I would be OK with no negotiations if the vehicle price was fair. Preferably slightly below market value. But when you have a lot full of cars, and they are all overpriced, I am not going to Carmax. I will not even stop at Carmax to use the restroom. I will not go to CarMax for a free hot dog and a balloon. I will go to other dealerships where I know they will negotiate. Carmax is good for one thing… price checking. Just like Carvana.

I’ve been looking to get a car, and when I see it’s a CarMax dealer listing the car, I immediately exit out. CarMax sucks

Off-topic question, lucky. On these huracans, both 610-4 and EVOs. Anything i need to worry about with higher miles (25k+) that tends to fail or break on these that will cost north of 10k to fix?

I’ve bought cars from Carmax Auctions. What I like is they OWN them and have titles. I arbitrated one and had a great experience!

That Carmax bubble gotta burst at some point. I'm a a dealership/buy Center next to Carmax. Try to advertise we'll pay $500 more. Doesn't work when Carmax pays $2k over KBB/MMR to buy junk. People come in with Carmax offers and I look at the vehicles. Carmax inspectors not good at picking up poor previous repairs, structural damage, and mechanical issues.

Auto Nation is paying more per vehicle in our area - St Peters, MO. Thanks Lucky!

There's a Carmax near me in East Meadow. There's also a Carvana. I'm not sure how either stay in business.

As long a Carvana keep running that horrible commercial with Kristen Bell screaming "HOLD!" then Carmax has a good chance.

Carmax on centennial has a v12 bmw on the lot rn. I didn't even know they still existed until I saw it last week

Lucky should have at least ONE million subs ... ! This channel and Scotty Kilmer make KZread a necessity.

@jerrylundegaard2592

Ай бұрын

Actually Kilmer used to be a good view. Now Scotty is a clown.

We had a 2019 subaru Ascent that we paid far to much for. I roll 5000 negative equity into price of the Ascent. When we had to move overseas and sell the Ascent in 2021, I sold it to Carmax. I also got check in the deal. 5000 negative equity wiped away because of the insane car prices spurred by covid

i just bought my mk7.5 GTI from Carmax. Every car i went to see private party was asking a delusional price. Carmax also had a high price. but i watched the price drop 2k over night. Must have sat on their lot for too long, and i got my gti for a realistic price. Low miles, all oem, and a 6spd. Happy as can be.

I bought my 2007 Dodge Ram in 2012 from carmax and it was a good experience. Very very low pressure. They can lower all their prices en masse without introducing haggling and stress. If they choose to.

Talks are Morgan group will likely buy them out. They have already bought out a plethora of dealers here in south Florida.

I like and WOW amazing TY so much ,,Keep up the great work

Always look forward to your videos !

Sold my low milage 2017 Prius to carmax for 2k over what the dealer wanted to give me. This was in 2020. I went on their website and a week later they sold it for a nice profit.

Hey Lucky, you mentioned a website where you purchase extra key fobs, what was it called? Thank you!

In 2018, Carmax saved me from staying in a 36 month lease on a Nissan LEAF that was impractical to drive. Otherwise, I would have no recourse for "buyer's remorse". I still lost $7,500 on the down payment, but I got rid of that terrible car.

When Carmax was a new car dealer for Jeep they got very aggressive with price reductions. This was the 2003 to 2010 era. Some vehicles were 50% off MSRP. They have just gotten too comfortable with the used market markup.

Does this also apply to Carvana?

I just bought BMW X5 M via Carvana. Best used car buy Ive ever had. They warrantied all work needed. Price was below market value. Car is ridiculous. Honestly surprised how simple and easy it was. Couple hiccups [I forgot to sign the check]. Know video is about Carmax but thought Id comment.

The subscriber explosion wouldn't have happened if you didn't put out great and timely content. Great channel... thanks man!

Thanks again for your update.

Everyone cannot buy off the street. Have to reach a different seller for dealers. The auctions are there for a reason. People are financing.

I like the concept of Carmax and I'd pay a premium to make the buying process easier but they've lost touch with the market. Case in point - I can get a used 2022 RAV 4 LE with 11k miles for $25k from my dealership (before negotiating) with a clean Carfax report. If I go to Carmax for the same make, year and mileage the car costs $30k. I'm willing to pay a bit of a premium at Carmax - maybe $500. But I'm not paying a $5k premium for the "privilege" of buying a used car from them. That's insane. Either they get back to the market prices or they'll continue to stack stock without sales.

I would pay more to buy from Carmax no-haggle IF they weren't trying to sell used cars for the price of new cars.

Sometimes Carmax screws up. I wanted a VW Arteon 1 to 2 years old, under 24k miles. (I needed a large perfomance hatcback - I detest SUVs), I looked within a 250mi. radius - for months. They would crop up but the color was wrong, the price was too high, or too many miles. And then... Surprise... It popped up at my local Carmax, right age, color, miles, no issues, one owner, still under warranty, and about $2K cheaper than any other dealer within 200 miles. It was a fluke - I know. Yeah, I bought it. These things crop up. I heard of a Honda S2000 80K miles at Carmax - sold in 3 hours - for $16K, that was last year in August. Look up what they cost currently... The alert and sawy buyer made about $7K net... Yup, Carmax screwed up.

Carmax lot here in Maine (we only have one location in our state) seems full but not overflowing - unlike the local Volvo dealer who has a huge field adjacent to their dealership FULL of sh*tty Chinese cars collecting dirt.

Lol i live in san antonio tx and we are sweating with you. The problem we have here is humidity which kill people every summer because we live near the gulf of Mexico

Yes! This is what im seeing. Too many investors. Everybody wants to buy for 50 to 60 percent of retail to maintain a margin. Problem is not enough consumers buying with intention of owning long-term.

Never been to Carmax, but I despise new car dealerships.

The only available they have is the 24 Hour test Drive you can take the car home put it in your driveway and have plenty of time for a pre-purchase inspection

The thing is, Carmax has ALWAYS been higher. I legitimately don't understand how they've been able to stay in business as long as they have. Apparently there are that many stupid people. I'm not a financial guru in the least, but I'm not stupid enough to overpay for a car.

One item you missed is CARMAX quality has gone downhill. I was on of the early buyers in Atlanta. CARMAX had "higher" quality low mile cars. I have test driven cars recently that broke down on the test drive. One car had two new tires install on the same side, not on the front or back.

@dennisd9554

Ай бұрын

I have taken all three cars I've bought from CarMax to the dealership within a week to make sure everything was up to snuff, and they offer the 30 day return/refund guarantee. The issue is that there are more and more cars with higher mileage on the roads now, and what is in each person's price range is now higher miles. I've seen this with rental cars. Used to be you never saw one with more than 35K miles. It is common now to see them with 50K, 60K. But I do have to say that when I sold my last car to CarMax, even though I maintained it by the book, they couldn't have known it. There was an 18-year-old that "inspected" my car in all of about 10 minutes. Never popped the hood. Just mostly a glance-over to see if the exterior/interior condition was what I had plugged in online. I could have sold them a lemon and they wouldn't have known it. They rely on people being honest in what they plug in for the condition of their car. Have to believe many are not as honest as myself.

Lucky, consider using your VAST knowledge and passion to start a brokerage business. Represent buyers for a fee so people don't need to go through the mind games, the paper shuffle and then the buyer's remorse. You get a team together and there will be lot's of people to help. Solving problems is what makes money. You already have a great base on your YT channel.

In my experience the CarMax cars were always more spensive than dealer used cars (w/o) haggling. The past 5 years auction cars have been ridiculously high + many of the cars were VERY problematic.

Carmax significantly under offered on my used car. 2018 Elantra sport. They came in at 7000. Auto nation came in at 9100. I sold it to auto nation. Then they listed for 13900 and it was gone in less than 5 days. What was weird was, no was interested on Craigslist or offer up when I had it for 10k. I think people don’t wanna buy commuter cars from private party as much anymore, or maybe it’s just me.

KMX has 17 billion of auto loans. They are not prepared for the next wave of defaults

carmax needs to edge on bankruptcy before they get a clue. Same thing happened to me with autonation when I bought my Wrangler 392. Bought a brand new 392 for 4k cheaper than a used one. Salesman was in denial that I could get one at a better price. His ignorance and his managers ignorance should have gotten them fired.

They must've been listening to your video; they just offered $1100 for my 1993 Lexus LS400.