I just purchased a newer vehicle and I was trying to sell my 2000 Hyundai Accent with only 68,500 miles online (autotrader, craigslist) but i became short on money.
I decided to take the car to CarMax because they buy cars, I figured I'd get between $1500 - $2000 considering the blue book value was $3600. The car had no mechanical problems and I thought I'd get a good deal on it.
After the "evaluation" my car received high marks on the inspection. The offer that I was given by CarMax was only $500. Being down to my last $40 I had no choice but to accept the offer.
CarMax is taking advantage of people. They can afford to pay better prices for people's cars. They claim to base their decision on "wholesale values" (What the car would bring in at auction) This is very deceitful since they don't have lists of cars sold at auction for inspection, you are forced to go on their word and they don't negotiate.
I am now researching to see if anyone has filed a class action lawsuit against the company. They need to start offering a fair market value for the cars they buy from individuals.
I'm not an auctioneer I shouldn't be stuck receiving an auction price.
0 comments