We will host a conference call for investors at 9:00 a.m. ET today, April 12, 2022. Domestic investors may access the call at 1-800-289-0720 (international callers dial 1-323-701-0160). The conference I.D. for both domestic and international callers is 3170513. A live webcast of the call will be available on our investor information home page at investors.carmax.com.
We currently plan to release results for the first quarter ending May 31, 2022, on Friday, June 24, 2022, before the opening of trading on the New York Stock Exchange. We plan to host a conference call for investors at 9:00 a.m. ET on that date. Information on this conference call will be available on our investor information home page at investors.carmax.com in early June 2022.
For more details on factors that could affect expectations, see our Annual Report on Form 10-K for the fiscal year ended February 28, 2021, and our quarterly or current reports as filed with or furnished to the U.S. Securities and Exchange Commission. Our filings are publicly available on our investor information home page at investors.carmax.com. Requests for information may also be made to the Investor Relations Department by email to firstname.lastname@example.org or by calling (804) 747-0422 x7865. We undertake no obligation to update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.
This is where Carmax would rather not be buying cars because auction prices are higher than the trade-in and cash offers they make to private sellers like you. At the auctions, Carmax is competing against thousands of other dealerships in an open bidding process.
Any vehicle Carmax purchases as a trade-in or CFYC that falls outside of their \"retail eligible\" criteria immediately gets flagged for wholesale auction. According to their website, approximately 60% of all cars they take in are rejected for their retail lots.
So, how do I beat Carmax's offer every time Simple, you become like them by elevating the sale of your car from below wholesale (their offer) to near retail (thousands of dollars higher). And no, that does not mean you have to give up convenience by taking on all the dreaded and dangerous things associated with selling your car yourself on Craigslist, Autotrader or other listing sites. Carmax and many others want you to believe there are only two options available - sell it to a dealer or sell it yourself. That is just not true. There is a third option that moves your car up to retail and puts way more money in your pocket without lifting a finger to sell it. Sound too good to be true
Ask yourself another question - where are vehicles typically sold for retail value Correct, at car dealerships. So, the way to beat Carmax's offer (and in many cases, private selling) is by finding retail used car dealerships that will sell your car for you right along side their cars. A place where you can literally turn over the entire retail selling process to a professional, licensed dealer who sells cars like yours for a living.
Because most of our customers visit us first online, every vehicle listing on carmax.com and on CarMax's mobile apps includes a link to the National Highway Traffic Safety Administration (NHTSA) recall lookup website, with the VIN pre-populated, allowing customers to obtain open recall information on any CarMax used vehicle. In addition, CarMax used vehicles have two stickers posted on their windows that provide information about how to obtain safety recall information.
I bought it for only $500 and sold it to CarMax for $1,500. No other car-buying outlet came close to that price, and selling it myself would have required dealing with flippers who make meager offers on used cars in the hope of making a quick profit.
The used car market is so strong that even 20-plus-year-old cars that would typically sell for only $2,000 a few years ago are now going for $3,500 and beyond. In many cases, you can get more money selling these cars on your own than you can from an online dealership.
I sold a 2001 Buick LeSabre with a peeling dashboard and tons of dents but only 101,000 original miles for $3,500 at my dealership near Atlanta in less than 24 hours. This is just one of many old cars that went for plenty of money due to inflation and the current car shortage.
Late-model vehicles with major mechanical issues can be challenging to sell on Facebook Marketplace and Craigslist without significantly adjusting the price. CarMax and other dealers might make you a competitive offer, but I find enthusiast forums to be incredibly helpful in these situations. Since enthusiasts who love their cars are already familiar with the issues, they are often willing to pay a reasonable price for a car they can fix and make right.
Simply put, in most cases the CarMax price is not cheaper than a dealer. Their cars are well inspected but tend to cost more and the prices are firm. For example, a 2017 Ford Escape with 41,000 miles costs around $25,998. Meanwhile, a 2019 Ford Escape with 24,000 miles costs around $23,000 from a local dealer.
Typically, CarMax will resell cars it purchases on its lots. However, they may not be able to resell cars that have serious damage, mechanical problems, or have otherwise broken down. In order to make a profit, they might offer you a trade in value or cash value lower than your vehicle is worth.
We can generate a quote for you completely online based on our easy price generator. Those offers come with a seven-day guarantee and FREE towing. We'll come to you and pick up the cars, keys and title, and hand you your payment right on the spot.
Private buyers are typically looking for project cars, cars to part out or cars they can use for a low price. If you're selling a damaged or nonrunning car, though, you're more likely to find car enthusiasts that know how to fix or part it out.
Yes, in general CarMax can buy old cars. They are typically willing to make an offer on any vehicle. However, they generally do not keep older vehicles on their lots, which means they may consider older vehicles much less valuable than newer vehicles that are easier to resell.
This is because CarMax does not offer pickup services, which means you will need to bring your vehicle to a CarMax location. There are some states with no CarMax stores, which means selling your car to CarMax may pose a logistical challenge. There are no CarMax stores in Montana, Wyoming, Arkansas, West Virginia, Vermont, North Dakota or South Dakota.
Will Buy Almost Any Car - CarMax specializes in buying and selling used vehicles that are in good shape. While CarMax will generally make repairs and improvements on all vehicles it purchases before placing them back on the lot for resale, it does not specialize in damaged cars. The majority of their business is in their used car sales, which means they specialize in vehicles that can easily be resold.
On the other hand, CarBrain specializes in buying less-than-perfect cars. We have over a decade of experience purchasing blown engine, salvage, scrap, accident-damaged, junk and non-running vehicles. We know how to determine a fair market value for a damaged vehicle in any condition.
Selling your non-running car to CarBrain is the fast, safe and easy way to get rid of a damaged vehicle. We offer fair market prices and a no-fuss sales process for cars, trucks, vans and SUVs. Why wait Get an offer and get started today.
CarMax does not have a stated limit for the age of vehicles they will make an offer on. Although an offer for a very old car will typically be much lower than an offer for a newer vehicle, CarMax may still generate a quote for an old car.
The short answer to this question is yes, they do. CarMax buys cars in all types of shape. They buy cars with transmission trouble, engine trouble, blown head gaskets, bad clutches and more. CarMax will buy almost any vehicle. They do have some rules and formulas to how they work though.
The third factor that CarMax takes into account in their appraisal process is market interest. More popular vehicles fetch more money. This means that a more popular vehicle is worth more and thus gets a higher appraisal. This can cause even a non running vehicle to have a higher value. CarMax also requires all cars to have a valid title and proper identification and other paperwork before they are sold. This can be an issue for some sellers.
CarMax is one of the options car owners have for selling their used cars. The resale market has become so large, that multiple companies have tapped into it in order to capitalize on the needs of buyers and sellers.
Moreover, CarMax focuses on selling used cars that are less than six years old. They inspect more than 125 points when examining vehicles to make sure they meet CarMax standards before reselling to other drivers.
Yes, CarMax can buy junk cars. However, for CarMax, damaged cars are typically more of an inconvenience than a valuable trade-in option. This is because they specialize in vehicles that they can easily put back on the lot.
Thanks to the presence of online car marketplaces, buying or selling used cars is not the hassle it used to be. Two platforms, namely CarMax and Carvana, stand out due to their ease of use and impeccable customer support.
CarMax works on a no-haggle policy, allowing people to buy and sell their cars without having to spend much time and effort. Not everyone is cut out to spend hours at a car dealership negotiating prices.
As for shopping, you can find a car by type, price or brand. CarMax boasts a wide selection of vehicles, ensuring that every buyer has an option that meets their needs. Even better, you can also find cars in person at a CarMax location local to you.
The significant difference between the two platforms is that CarMax has physical locations across the country. You can go to a local CarMax close to you and look for the perfect car in person. Likewise