CARMAX is SCREWED… People REFUSE to BUY OVERPRICED Used Vehicles!!

CARMAX continues to struggle in the current used vehicle market. Between awful interest rates, overpriced cars, record high inventory, record high repo rates and loan defaults, and record high negative equity... They are in a tight spot. A drastic change needs to take place into their business model/approach if they intend to make it through the terrible down-swing in the market. People are refusing to buy from Carmax right now... Anyone who takes just a few minutes to do their homework online will know the prices at Carmax need to come down in order to be competitive. Carmax needs to slash prices across the board and sell to their customers versus auctioning everything off. They'd rather lose more on a vehicle to wholesale instead of selling to a consumer and earning a possible customer for life. I don't get that? Feels like a near-sighted business model.
People certainly overpaid for their vehicles throughout COVID, much of that was due to greedy dealerships hiking up the prices well above MSRP. Putting ADMs or Markups on desirable vehicles put a lot of people in a sticky situation. The average negative equity across the US right now is $6K. That's the worst it's ever been. A change needs to happen in order for Carmax to succeed.
I think folks should wait another 90-120 days before they try to buy a vehicle. The wholesale market always foreshadows the retail market. I foresee an even larger dip in used vehicle prices come April 2024. What are your thoughts? Do you think we'll see a market correction in used vehicle prices? When would you suggest people buy their vehicles?
Thank you for watching as always, I sincerely appreciate the support. If you found ANY value in my video here, I ask that you consider Liking and Subscribing. Means a lot!
-Stay Untamed...
#carmax #usedvehicles #dealership
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@untamed_motors

[@Mark-qv4bn]

$49,000 for a 2019? Really? People like me are putting money into our 20 year old trucks.

[@agger838]

Pretty satifying rebuilding a old vehicle to be like new again. Forget how good they used to drive

[@SLP743]

Yep! I have a 2003 sequoia and I have fixed it up. Looks like it did new. Drives amazing as well and gives me no problems. I paid cash for it a year ago and don’t regret it one bit. A new one is 70-80k! Just ridiculous. I’ll enjoy having no car payment.

[@Rjisawake]

I could give you 40k for a new car or give you 400 and you fix my old car.. hmmm tough choice lol

[@aaronerickson3117]

Agree with this comment. I can afford pretty much any vehicle under $100,000. But I drive and have been fixing up my 2005 Toyota Tundra. I love my truck. It looks good, runs great, never breaks down and holds its value. Vehicles are a waste of money, especially right now. Don’t play the game. Find a good, solid, reliable older vehicle and save your money.

[@jamiewestphal6955]

My truck just turned 24 years old! I'm still waiting!

[@windsorglenn1187]

This is mind boggling, there are no more stimulus checks being handed out , no more low interest rates, yet Dealers are pricing cars like there is still an abundance of money flowing through the economy.

[@itr0863]

thats whats crazy, you listed lots of reasons that make you scratch your head on why dealerships are doign what they are doing. it makes no sense and they wonder why they can possibly go under

[@hitmanhart6275]

Because they overpay for their inventory.

[@leonk8113]

Carmax hoping for Trump 2024 and another round of checks maybe???

[@mida8261]

It's not like the stimulus was enough to afford me a $50,000 car anyways.

[@Randomvoice246]

Sadly it's not just the car market, its everything. I used to go to Moe's for lunch and eat for $11.00, now its $15.00 for same meal...so I quit going..

[@lalutte65]

Best thing that could happen to consumers is for carmax to go under once their hold on used car prices is broken we would expect a 30-40% drop

[@lalutte65]

So you logic is we continue to pay 30-40% more in perpetuity because people who over paid don’t take a one time? hit@@chrisg5101

[@khanhcao3123]

​@chrisg5101 oh please, you make it sound carmax is paying a premium for your car.

[@UntamedMotors]

Yeah this lot here was clearly overpriced by 15-20%… something has got to give.

[@sirgriffinman]

well if you were dumb enought to buy and exhorbitant inflated prices that's your problem.@@chrisg5101

[@Gopinathk17]

Why the hell anybody buy these used cars if they are priced almost same as new cars.

[@jonathantaylor6926]

It makes no sense and you can get a lower rate on a new car.

[@Anomize23]

@@jonathantaylor6926lower rate on a newer car? suuuree prepandemic i can believe that yes

[@rhojo2867]

Yup. I was told by a brand name dealer 12.9% for a 2022 used car with excellent credit. The new car interest was 4.9%. Don't have bad credit it would be 27% for a 2022 and 22% for new car. I went with a brand name dealer

[@scottferris6309]

$49,000 for a 2019 with 36,000 miles on it? No thanks. At the Audi dealer by me, 2024 Audi A3’s have an MSRP of less than $39,000.

[@dwcola]

My thoughts are that I wish people would boycott car purchases unless absolutely necessary... It wouldn't take more than 6 months to break the stubborn back of many companies like these. They would be forced into submission... Unfortunately, people just have to get their hands on that supposedly shiny used new car. 2018,2019,2020 vehicles 40 to 60 thousands miles??? Out of warranty... Halfway used up at crazy interest rates... Don't forget about car insurance on that beast. What a losing proposition... Boycott is the word of the day. Boycott McDonalds, Boycott clothes purchase, Boycott unnecessary food expenditure. Just stop spending already and it will bring prices down to reality...

[@Jahida360]

💯💯💯💯💥✊🏽 yessss

[@sptrader6316]

Discounting their used cars, rather than selling them at auction, would be a far wiser decision. A lesson they will soon learn.

[@joesmith3590]

When you are running a ponzi you can’t. It won’t collapse by them choosing.

[@UntamedMotors]

Agreed. They’re disregarding public opinion of the company for the sake of choosing the easier way out. =\ They’re focusing too much on the quantitative figures and not at all on the qualitative figures.

[@DaveCM]

And they will loose way more money at auction than they would discounting their inventory.

[@nwsvndr]

Not so sure. Say they are overpriced by $10k relative to market price, and say the auction price is $2k below market price. They make $10 over market price for every car they actually sell, and only lose $2k per car taken to auction rather than selling to you at market price. So they can take 5 cars to auction for every one they sell, and still be just as goood off as if they discount all the cars to the "market price." If there are just a few suckers paying over market price, their business model works!

[@joernone]

Want stupidly high car prices to disappear?...stop buying for 6-9 months. Keep what you have. The power lies with the American consumer, not the greedy seller.

[@Davidm3782]

I have a 2014 Hyundai Elantra. 120k miles, bald tires, dents, check engine light on, transmission slipping. But it's paid for. Not buying at these ridiculous prices. Let's see who blinks first.

[@Randomvoice246]

Lol, I'm guessing you would blink..$5000 for a new transmission, $1000 for tires, $5000 for new engine and continuously nickel and diming you to the point of total bankruptcy

[@Randomvoice246]

Transmission is only going to slip for so long until total failure

[@jamessouthworth1699]

At least put some tires on. Not just for your safety but for the people sharing the road with you.

[@juanthompson8016]

Put tires on cheap ass 😂😂

[@ZacTexC]

I told ya to stay away from those stealerships

[@bdtaylor1979]

CarMax two biggest problems are they are overpriced and they refuse to negotiate on the price of the car. I don’t know how they have stayed in business for so long.

[@Randomvoice246]

Because 30 years ago people got irritated when buying a car with the price being negotiated.. wondering if they paid too much.. CarMax sells cars with a set price, no haggle.. what you see is the price just like everything else you buy..

[@waltchan]

Carmax works hard to make $10,000 profit per vehicle daily after trade-in.

[@scottferris6309]

CarMax quite correctly figured out that the process of buying a car was broken, saw the need for a change, and introduced no haggle pricing. The problem, however, is that no haggle pricing doesn’t help the customer if the customer is getting overcharged. Those lots are packed for a reason.

[@fjcruising7121]

@waltchan that is correct just got appraised to see what they would give me for my 2015 Tundra and it’s $22,500. Gives them room to make $10K no thank you CarMax.

[@Randomvoice246]

@@fjcruising7121 you didn't state how many miles you had on it and what condition its in, but 22500 for almost a 10 year old truck thats probably going to need paint work and mechanical repairs, seems like a good offer to me.also being that old its probably going to need a water pump and other things that deteriorate over time.. I've sold a couple of cars to CarMax because they were starting to fall apart and I didn't want to spend the money to fix them up, I'm sure most people that sell their cars to carmax do the same thing.. CarMax is like the dumping ground for people that don't want to spend hard earned money to fix their drivers but opt to replace them.. CarMax must decide to spend the money to repair these cars or wholesale them is my guess.. people don't get rid of good cars

[@firetrain3]

Carmax has never had a good reputation. they have always been overpriced, and their customer service and support after the sale is terrible. The best thing that could happen is for this company to go under as a lesson for the rest of the used car dealers to be fair with their customers.

[@UntamedMotors]

Yeah they have an opportunity to do good by their customers right now… instead they’re choosing to just wholesale their inventory to auction. 🤷‍♂️

[@Loui3626]

THIS! After returning my car bc it was ruined by them, I was told it would take 15 days for me to receive my down payment. Waited 3 weeks and didn’t get a call NOR my money back. Called them up to see what the deal was and the person on the phone kept going in circles with me bc she thought I traded a car in(first she said I wouldn’t get my money back and then said she didn’t understand the situation). I had to say “I bought a car from you guys and returned it, I wanna know when I’ll receive my down payment” over n over again. Long story short, the DAY I called them was the day they decided to actually do something about my paperwork and I got my money a week later. Will NEVER buy from them ever again!

[@chaddrumm6809]

Carmax going under would be great for the consumer!

[@AKHKCZplus]

Nobody will even notice Carmax’s death.

[@neonnoir9692]

Don't have to get creative, just lower the prices. Period. Not buying until then.

[@KA9DSL]

You forgot about, bad gas in the tank, UV damage to the top dashboard, internal engine rust, vermin's chewing on exposed wiring, battery degradation, cabin mold, frame rust, the list goes on.

[@UntamedMotors]

Those are great examples to add! Thank you.

[@joshuaweston9338]

Those interest rates 😂😂😂😂😂

[@copaloadofthis]

credit card interest rates.. even if you have a fair credit score.

[@grumpynomad3551]

I love it. I’m driving a paid off 2011 f150. 6 years without payments is great and the truck still runs beautifully.

[@cenewton3221]

One of the biggest reasons they keep their prices high is because they're taking on significantly riskier buyers. It's effectively the largest "buy-here-pay-here" car business in the country. People that bought new cars in the past 3 years who often paid over MSRP are now stuck in the car they bought given they're upside-down on them and it would prove too costly to trade them in on anything anywhere.

[@UntamedMotors]

Yeah that’s certainly a factor but often times they benefit even more when someone defaults on their loan and they’re able to repo the vehicle -just to resell.

[@marilynfrett-id8qe]

They keepntheir prices high because people continue to buy. Stop buying overpriced vehicles, people.

[@jax1079]

Predatory loans and consumer ignorance has driven up prices post supply chain issues, and the worst part of it is that it massively affects the percentage of the population who can least afford such a terrible financial mistake. We’re heading for an ugly market correction as more and more people end up underwater. It’s a shame.

[@UntamedMotors]

That’s the sad truth of it all… people often don’t realize the gravity of having such high interest rates until they’re neck deep with $10-20K of negative equity. =\

[@markmansel9899]

Carmax still generates income with their own wholesale auction. They have no need to lower their prices.

[@Griswold20]

You are exactly right, I don’t think he understands that. That’s the reason they were able to make it 2008 when there stock dropped to an all time low. There auction is the cash cow.

[@joshuajanduke]

Although I like Carmax using the no haggle Way, I think the CarMax Corporate office is taking advantage of the used car market thinking we are all to stupid and will buy anyways

[@UntamedMotors]

Yeah something has got to give. I think you’re right, they’ve just gotten used to charging whatever they wanted and got it during the pandemic.

[@Humester12]

The no haggle policy actually works for Carmax not for the consumers.

[@torqueguy1]

I bought 7 cars happily through Carmax. My last experience was bad, so much so that I bought a demo from a dealer. I’m a 60+, sr level exec and hooking me up with a young lady, with wrist to wrist tattoo including her neck and metal piercings along the ridge of their ear. Not a good look. I was looking at an RX350 for $40k cash. I asked if rebuffing the hood would be done. She didn’t understand the word buffing. You guys killed a perfectly good company fellas

[@nuckleheadzgarage8360]

who is paying 18% interest on anything. that is crazy. what a bunch of crooks

[@itr0863]

absolutely insane. my wife and i have above good credit, not excellent by any means but we were able to get 2.5% at a toyota dealership for her highlander 3 years ago. no way we could buy the same car in todays climate. crazy. untamed showingi the stiker price APR for average credit was almost as much as my mortgage lol . jesus.

[@davidlam5122]

Our brand new car costs less than a Carmax used one.

[@stevedeleon8775]

Thank God my wife & I decided to keep & maintain our very reliable old vehicles..my wife's is a 2011 Chevy HHR 2.2 with 120,000 original miles with every undercarriage suspension part replaced..my vehicle is a 2002 Chevy S10 2.2 with 115,000 original miles & runs like brand new because I'm a Maintenance Fanatic

[@chrisds302]

That 2.2 is pretty reliable actually Especially the 2002 year

[@dmcnamara9859]

CARMAX has a formula they lived by from its inception;highest individual transaction prices of any new/used dealership in the USA, guarantee by slick sales force. If a used car sits on lot for a very long time, a sucker is quaranteed to come along and pay $50,000+ for a 2017 KIA Optima with 63.000 miles with a smile on their face thinking they got a great deal. Meanwhile,the stockholders are pleased since the vehicle was purchased at auction for say $ 10,000 tops even during RONA period.

[@Humester12]

Exactly right. Carmax depends on suckers and there are plenty of them in this country. Not just suckers but dumb as hell suckers.

[@Spaethon]

You probably won't see the numbers drop that much within 90 days because tax time is coming up, which means there's going to be another Spike in vehicle costs, historically speaking anyway.

[@UntamedMotors]

Yeah that’s a solid note to make… good call.

[@user-xk4vt9ye8j]

I’m guessing that people who have to wait for a tax refund to buy a car are the ones paying 24% interest.

[@pc73]

Quite likely. Which is why I don’t think tax refunds will make much of a noticeable ripple in the pond.

[@mauricenunez73]

All those cars are really worth at least 15-20k less. Shame on Carmax!!!

[@UntamedMotors]

That’s a fact. Agreed!

[@djfrankib45]

These dealers & manufactures have more money than you think.

[@huemann7637]

I think all these dealerships know that eventually people will be forced to buy their overpriced cars when the pieces of junk they already sold us stop working.

[@Jquintan3]

Hell no. I would WALK before I did that.

[@scottferris6309]

People can out wait the dealers. The exceptions are people whose cars are total losses from accidents or people whose cars are ready for the junkyard.

[@cadehuff7936]

Carmax have cut their own throat. I will get mine from a reputable dealer...and brand new. New prices for a used car is stupid. smh.

[@duanecarr6712]

It’s important peanut is with you. Heard what you say and how to speak and think. Children should always be with their dads. If they wanna live love and thrive in this world.

[@allamar9083]

2012 Hyundai Sonata ,bought new ,well cared for,oil on time ,tires etc ,priced new one same exact options,they can keep it on their lot until it rots. Stupid prices. New rule for us ,if the warranty is not longer than the payments ,forget it! We can buy used if absolutely nessisary.

[@robertrio632]

I've bought 4 cars in a row from Carmax the most recent was a one year old 2018 Camry LE with 10,000 miles for $19,000, their current pricing has driven me out of their market.

[@Mr-Clark]

You're right dealers need to cut 10-15%. Dealers made a killing during the pandemic. They went from a full lot to some having only a couple of cars on the lot despite ultra high prices. Now they're drowning in inventory and want to continue with their sky high prices. Let them crumble.

[@KylerBorn]

ScamMax is worse than stealerships 😅

[@MikePianoMan85]

$44k at 18% is about $78k at the end of a 72 month loan

[@drinkingpoolwater]

JESUS

[@TruthOverLies]

Car max is a loan shark company doing business as a car dealership.

[@richardf6932]

Carmax is not in the car business but in the credit business, that happens to have cars as collateral. Realistically, this is a better business model as there is little barriers to entry for user car dealer but credit is another business.... You need capital and large line of credit..... Will see how this works out for them...

[@lynskyrd]

if you can do your own car repairs and your transmission is still shifting smooth- KEEP your old car. Wait this out. Get caught up with your bills and give the new car industry time to 'recalibrate'. I JUST bought a 2006 Volvo S60 with 178,000 miles; paid $3500 cash. I also own a 2003 Volvo S60 with 346,000 miles- the engines in both cars are are solid, leak free, no codes. The transmissions in both cars shift smooth and shift on time with no 'help'. ZERO rust on the vehicles and the interiors are very clean. All the electrics work including the AC. I haven't had a car payment since 2008. I'll use the 2006 as my daily and the 2003 will be my 'backup'. I'm hoping I can get another 100,000 miles between the two vehicles before I go all in on a new 202? - we'll see. Good luck everybody- BE PATIENT. Take care of what you got- do those fluid changes and don't drive your current car too hard. Drive safe always.

[@markjones5860]

I priced some Nissan Frontiers on Carmax's site and they were as much as MSRP on a 2024. They can keep them.

[@patmclaughlin107]

I went to a Honda dealership here in Central Texas to see an Accord Hybrid. They are selling at MSRP (~$35K) + some $1,000 protection package. No incentives for financing, per se, but the interest rate is 4% for 36 months. The used car prices are not much lower than the new car prices. The sales guy said there is still shortage of cars, but I don't know what to make of it.

[@Chief_5]

They want there still to be a shortage. 😆

[@jonathantaylor6926]

@@Chief_5 There is a shortage for sure. The Covid lockdowns reduced output by 3 to 4 million units per year for 3+ years. Something like 12-15 million cars that would have ordinarily been manufactured and sold were not because of supply chain chaos. Many of these 15M cars would be off lease or coming off lease or would be getting traded in. The impact of covid lockdowns will last years.. these aren't 15 million POS cars either.. these would be late model cars with under 50k miles but they simply do not exist.

[@andrewleonard938]

Honda and Toyota have a self imposed shortage. Buy another brand. Don't let them abuse you.

[@Jquintan3]

He’s Lying. When do Car Salesmen tell the truth?

[@clint4951]

He's 100% lying about a "shortage." Tons of completely full lots everywhere, and tons of KZbin videos showing the same.

[@tireflipper8000]

Carmax and all other "no haggle" type dealerships can enjoy their inventory.

[@Mikek-ny9rw]

Your daughter is a absolute adorable sweetheart

[@kirkdunn1379]

Carmax and carvana have always been there worst place to buy a used car....good to sell too but never buy from......sold 3 to Carvana Would never attempt to purchase from them, They paid me more than I purchased from dealership 6 months prior to sale and sold them for ridiculous prices Was absolutley shocked when I followed them all the way thru the sale to new owner..... Hard to believe people would actually buy from them vs new for far less and better financing....made no sense.....they kept cutting me checks so wasn't complaining One neighbor bought a new 23 4 runner for 52k And another bought from carmax after I mentioned they were the highest price.....people are set in their ways...doesn't matter if they have information right in front of them they will just do what everyone else does.....makes em feel warm and fuzzy to lose money I guess Or they just plain Lazy

[@Will_b83]

Great video man…and what a little angel! As for CarMax the only people I feel bad for are the people who will lose their jobs over all this garbage.

[@Tactical_Pterodactyl_Knives]

Carmax has ALWAYS been this way and I've never understood it. Back in 2007 I tried to see what they would give me for a 2003 jeep wrangler we had that was mint with only 35k miles or so. After like 2 hours of waiting they offered me $8k...i literally laughed out loud and went and sold it private party for $13k a few days later. It pains me to think about how cheap vehicles used to be.

[@UntamedMotors]

Haha yikes. $8K yeesh 😆 Glad you didn’t settle for the nonsense back then! Agreed. Vehicle prices have gotten out of hand. =\

[@Heybrother69]

Man I missed out on getting a new vehicle, don’t think prices will ever be affordable again.

[@penntuckeybackwoods8201]

I just offered CarMax 48000 on a 52000 dollar f350 they said he'll no with the mileage that was on the truck it was a more than fair deal f them let them take their loses at the auction

[@itr0863]

ive only sold my wifes old CRV at carmax 3 years ago but thats all my knowledge is of carmax. so they also take their vehicles on the lot and put them in auctions? i always assumed it was just a used car place that also obviouslly buys used cars. i didnt know they did auctions.

[@dannyhuckabee9695]

Not me movement is workig..dealerships are overflowing..in my town...not me movement..is not buying for a whole year..jjst fix what you have..in one year they will be brought to their knees...we can do it united we stand..merica..

[@aboutface102]

We went to carmax once. We took a look at the prices and laughed

[@DarthNero]

Carmax is hoping the unsuspecting customers who don’t follow the market conditions and that believe cars are in short supply to come over and naively pay their prices.

[@jdub_vdub]

I’ve watched a few videos showcasing how many repos they are sending to auction. They’re repoing left and right

[@hoppysport2872]

Great video! Those CarMax interest rate made my jaw drop. I have a 2008 SAAB 9-5, bought new in 2012 as a leftover after GM cut SAAB loose. Ibapid $17,000 for a $38,000 MSRP vehicle. Since new I've used a great, independent SAAB master tech and change my oil/filter every 4,000 miles. For my entire ownership I've spent a total of $5,300 on all parts, labor, preventative maintenance, tires, suspension and exhaust. Even better, it's a car that can be worked on by any mechanic, not just at the stealership. I'm going to keep my 9-5 for at least another 7 years. Great car, comfortable, safe, looks great and has never left me stranded. Watching you video actually scared me.

[@itr0863]

holy crap. the sticker on the black 4runner regarding the APR. and here i was only back in 2021 going back and forth with a toyota dealership on 2.9 or 2.5% APR on a used 18' highlander for my wife lololol. makes me appreciate even more, when i purchased my 18' 4runner and highlander for my wife. no way i could afford todays pricing/APR. fyi, before i purchased the highlander for my wife, we had to sell my wifes 09' CRV. it was urgent since the highlander was 4 hrs away and we scheduled to look at it in 2 days. went to carmax. i would've been happy with $2k, but they offered $3k and we took that check to our credit to get a banks check/pre approval and the rest is history (purchased the highlander for $30k at 2.5%). i cant imagine having to do all that over again in todays climate

[@bitemenow609]

I walked around a CarMax last week. Not one car was priced to sale to a smart person. I just spent 30 min. Shaking my head.

[@000distructzero]

Every customer looking to buy a vehicle should write an offer to purchase with a minus 10K adjustment on the price.. List it as customer market adjustment. What's good for the goose.

[@ItsLinoLino]

i just totaled my car. i got payed out but shoot, with these prices i can’t afford anything. i guess i’ll be w/o one for a lil bit but it will be worth it when these prices drop. stay strong and vote with your dollar. if you know ppl that are trying to buy a used car you should recommend that they hold off for a lil while.

[@giovannidomenech4321]

Great video I learned a lot! Awesome and beautiful family thanks for sharing! I appreciate your projections.

[@radzer0966]

For the pricing they are trying to get and refusal to lower prices even to what franchise dealers ask. They should include the extended warranty.

[@remzomehinovic4571]

24 % no thank you would rather take the bus before I'd pay that

[@cloudoftime]

People have been saying this for a year and vehicles are still being sold for the same price.

[@jvolstad]

I don't buy unless I can pay cash in full.

[@FreedomAtRisk]

same thing with housing, RVs and motorsports, prices are staying high and transactions are plummeting

[@sthr2110]

The $37K price on the '21 Lexus RX350 isn't bad at all, actually. It was about a mid-50's vehicle, when new, assuming it is AWD. If it's a FWD, the price is too high.

[@BeStrong-nf5nc]

Says fwd on sticker and 35k miles lol

[@nt5898]

and minimum 8% APR@@BeStrong-nf5nc

[@eleanormassaro5195]

Yeah, I was thinking the same thing!

[@cyrusthegreat3081]

47k

[@amgineco]

Love the Peanut Corner.. precious cargo! Cannot believe they park those Hybrids & EVs so close with the fire risk hazard so high !! Good info Thanks!!

[@asalas639]

Folks, don't buy until they break. Remember we the consumers make or break a business. All these cars are over priced !!! Stand strong and keep your old vehicle

[@uzifelner6147]

I don’t see CarMax coming out of their pickle that they got themselves into Due to GREED. What I see is one BIG chapter 11 on the horizon.

[@plastruk]

I can’t believe people can pay 18-24% won’t last. Once car prices crash these people will walk away

[@SiXiam]

Keep in mind if the cars really do crash the government will do some incentive like the other times. Cash for clunkers or whatever. Same as they won't let the banks fail, or GM. Best you can hope for is the three 2024 rate cuts. Then some more 0% financing and $3000 cash back for buyers with excellent credit. Meaning that 2024 Tacoma that costs 36k, you will get for the low, low price of 33k. Maybe a little better if we go full recession.

[@wantsanewvehicle]

I have a 2023 santa fe, just for fun I thought I'd see what carmax would offer me for it over the past couple months. I don't actually want to sell it. About 4 months ago they offered $37k, about 3 months ago it was 36k, a month ago it was 32k. Today... $25k. It's in mint condition without a single scratch and has 18k miles on it. Looking at an almost identical one they have for sale, they want $36k for it. I was lucky enough to buy this a year ago new for invoice, and zero percent financing.

[@tomc.2808]

They should close that store...

[@amigomason]

if your credit is in the water and have the audacity to get anything at that price point sitting on 24% you deserve every point

[@miscprojects9662]

Cops, firefighters and contractors have no issues buying these vehicles. The market has changed and most of us are just priced out of it.

[@caryralls7488]

Hi Peanut! Great video…. You have sniffed out exactly what CM is up to….basically praying on the poor and uneducated. I agree 100% with you on what the NEED to do however this is corporate America (public company) we are dealing with and they make decisions waaaay too slow to right the ship. I’d have CM on a watchlist for companies which could go bankrupt in 2024. Sounds like best place to get a car is at the auction.

[@kirkdunn1379]

Nobody is preying on anyone l, they are presenting an offer....if your stupid enough to bite than it's a you problem.....everyday you can too much for any product if you choose too....

[@marcellino1956]

I redid my 2002 Jeep grand Cherrokee for about 15000$ running like a champ now..Who needs that malarky.

[@Smalex1991]

It blows my mind how high those interest rates are right now. I’m glad my truck was purchased before the craziness and I have like 3.7% on a used truck

[@CptInsano835]

Its the consumer's fault. They created this nonsense by taking on long term debt just to have a cool car.

[@UntamedMotors]

Yeah I agree... Much of this was self-inflicted unfortunately.

[@CptInsano835]

@@UntamedMotors I know these businesses are ruthless but I always blame myself for these things because that is the only avenue which forces me to learn something new.

[@laceylh]

In 2018 i bought a 2015 Toyota camry from them for just under 15000. There is no way i can afford a 3 year old car from them now.

[@garyhirtz4392]

Americans this is our chance to fix this economy which was given to us by the party that's in place .houses and cars need to drop drastically. Do your Part and say no.

[@terrellscaife2411]

It’s no shame in my game. I just bought a 2008 edge all wheel drive. with 125,000 miles for $4000 and the car with a couple surprises I do need to put a driveshaft in it and it does have a torque converter leak but I’m going to take care of that stuff myself but the lessons is you gotta look at your situation long-term and say to yourself can I afford to make these payments no matter what my situation is and by the way, I bought my car with cash, so I left with the title in hand, not a payment book

[@antoniocognato5023]

Yeah but......toyota dealers , some still have 55 new 2023 tacomas! 20 tundras. 30 bz4x, and 25 4runners!! WE NEED 3.5 , 3.8 %INTEREST. AND 5K OFF! WTF

[@F_JoeBiden-tu6cl]

So when is Carmax dropping prices on cars?

[@anthonysalvi4404]

If you’re driving a car and it says Carmax on the back of it, everybody knows you paid too much for that car

[@toddbrown7331]

They are going to keep prices high and put people with subprime credit in the seats.

[@UntamedMotors]

That is the unfortunate truth… =\

[@juniordiaz3223]

I sense a bankruptcy around the corner 😂

[@dannyhuckabee9695]

Remember hashtag not me movement...send it out..talk about pass tje word...no buying for a year...its their fault...that brought this on themselves..

[@A-37Bdragonfly]

Awesome vid 😎 bro

[@patrickchubey3127]

For some odd reason, car dealerships seem to have the idea that we've all just won the lottery and we're all rich. It's just not true. Penticton Toyota wants TWENTY EIGHT THOUSAND DOLLARS for a FOUR YEAR OLD TOYOTA COROLLA. There's no way in hell I'm going to pay 28 grand for a 16 grand car. Nope, I'll just keep and maintain my current car, it's way cheaper.

[@diy-mitch-vlogs]

I think it's hilarious how these KZbinrs who talk down about carmax think they're screwed. Carmax is not screwed, the sellers who gave their cars away to carmax got screwed and are still being screwed.

[@political7675]

43k car with 25 percent. That loan is, $95k on a 6 year loan $80k on a 18 percent loan and $62k on a 9 percent loan

[@MegaRetr]

Awesome video)

[@agaan1897]

where is the best place to buy a car? everything is so expensive!

[@waltchan]

Carvana, private party, or a new 2024 Chevrolet Trax LS for less than $19K sale deal.

[@joeyk19801]

They are asking original MSRP on a 2019 4Runner TRD Pro in 2024.... That truck is 5 years old, and they think it's worth the same as it was new... That's not 15% overpriced. That's 30-40% over-priced... That truck should be $30k, not $50k... That price is insulting. I hope they go bankrupt.

[@waltchan]

Wrong vehicle. This vehicle has the highest resale value. Look at 2019 Chevrolet Blazer instead.

[@joeyk19801]

@@waltchan nope.... right vehicle... anyone who pays MSRP on any 5 year used vehicle is insane... I own a 2020 sr5 premium 4Runner... They ARENT WORTH IT.... They just don't break on purpose like the pos ford and gm's...

[@dannyhuckabee9695]

Not me movement..is simple its the power of the purse...we have the power not them...its up to us...we can do it not me movement...

[@drinkingpoolwater]

this is what happens when you franchise the car sale business. those inflated prices are so they can subsidize the entire corporation. so sad. buy local! these corporations dont care.

[@DarthWaffle.]

Year ago Mitsubishi approved everyone to buy their cars, didn’t work out so well

[@abeyoungworth2046]

I hope carmax enjoys their high floor plan monthly. Carmax, enjoy!

[@Polemic-2525]

I don’t see 1 Oldsmobile on that lot.