Carmax’s Shady Financing Exposed (2024)
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- Опубликовано: 23 апр 2024
- CARMAX IS FINISHED | UNFAIR FINANCING DO NOT BUY A CAR | WARNING!!!
In this eye-opening video, we delve into the shocking truth about Carmax's unfair financing practices and why you should think twice before buying a car from them. From personal experiences to consumer rights, this warning is a must-watch for anyone considering a purchase from Carmax. Don't fall victim to their schemes - educate yourself and stay informed!
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Markets gonna crash, can't wait
Ikr
Meanwhile save save then buy with cash
It has been “about to crash” for months.
@@DevashishGulatiits been about to trash for more then months 😂😂
These car “experts” been sayin that for months now. Maybe it will but only by 1-3 percent not like how people think it’s gonna be
Eventually they must lower the prices, or shut down shop. This silliness cannot continue.
I’m surprised big corporations aren’t trying to take down RUclips with all the videos showing the truth just like TicTok.
Free country
@@HemiMusclenot on private property 😂
Do. Not. Finance. With. Them.
These dealers are so predatory it’s not even funny. Nowadays I like to just save up for a car and pay a large amount up front if not paying for the whole car in one go. Not only does it save you thousands on interest but you won’t get it repossessed ever, and it gives you bargaining power when you come in ready to pay. I just got a Corolla cross a few days ago and was able to knock off a few grand just because I was ready to pay and willing to walk away if the price wasn’t right.
Other than that, my advice would be to get a loan from your bank first. Dont let the dealership dictate your loan because they will look for every way to screw you that they can. Get your loan from your bank and that way you know where your budget is, likely at a lower rate, and that becomes a bargaining chip for you just like paying cash does when you come into the dealership. They do NOT want to lose a sale, and they will work with you to bring the price down a few thousand to where your loan is as long as it’s within like a $4k difference.
So many cars so few buyers. Those interest rates are a killer. 💀💀💀💀
I think some people are forgetting worrying about the markups.
I bought my 2018 Scat Pack charger from CarMax up in Laurel Maryland had no issues with that car ever since got one more year left with it and it's paid for
2014 300S, 36.9K, from same Carmax in Laurel off rt 1-and same, done within a year. Difference I did not finance through them-it was through my credit union-2.2% interest rate.
@@kw7807 2.2% interest rate, WHEN? I have an 822 credit score and can't get a rate under 6% nowhere here in 2024. I can get under 7 tho anywhere.
@@icecold6400 so two years ago-thru my credit union.. that’s for 48-if I had taken the 60 month option would have been 1.74%
I bought a Ford Expedition from Car Max over 20 years ago, and I financed it also through my credit union. Payed a little too much for it but it only had 3 thousand miles on it and had all the features I wanted.
The interest rates are too high for the working class
Not only interest rate car prices are 40 % higher thats why car dealers are pushing for you to buy GAP insurance cause they know you walking out with negative equity
I used to work for Carmax. Selling cars. I don’t know what happened but something with their bank definitely changed. Also when I worked there the lowest apr they would go to was 4%.
I don’t think they even that low anymore. When I worked there it was almost 10 years ago, so I know covid definitely took a hit for them around that time. It’s sad what’s coming to that company. I don’t see how they can still be around in the future
The problem is so many people are so fixated on driving a really nice vehicle. They don’t really care that their payments are so high. Image is everything to them, and then it gets repossessed.
Car Max is a bunch of predators. I know fools they let get their cars, they can’t afford them, they get repossessed and they give them cars again.
I liked how you showed the data. People out here gotta' get that credit together and down payment money up if trying to buy in this market.
I used to sell cars at Carmax and basically my job was getting the customer to agree to a vehicle the bank was willing to finance. They all wanted to buy a car, they all just couldn't buy a car.
For people with poor credit it is a good alternative to get a decent vehicle with a warranty. Refinancing is always an option. But their APR and prices are definitely high. Sometimes you can find good priced vehicles though.
True, when I had challenged credit, carmax approved me. I made my payments on time, and I refinanced one year later, been 750 plus ever since.
What the less informed people need is an Automotive broker to help them navigate the car buying process. Too many people think they’re getting deals when they’re really not
Don’t get financed through them. I got financed through my credit union. 2.2% interest rate. A 2014 300S, 36,960 miles, less than 26K-excellent condition.
This is my 1st time buying car!! How do your apply through credit union?
@@huychvo1318go online fill it out. Go to the bank in person talk to a rep
The interest rates today are just not good no matter where you go .
Eye opening and informative video. Thank you for posting.
they want $750,000 for that C8
Good content bro, don’t know who needed to hear that but you have just helped somebody from mortgaging the farm for a car 💪🏾
Appreciate it bro they trippin 😂💯
Why would anyone buy from carmax with those prices? Thats nutz
My uncle was about to buy a Lexus from there 29k with a 29% interest rate. 72 months. $1,000 a month. You gotta be crazy to sign that
Right on point, bruh!!!
Bro I can wait. All it takes is one company to fall for overpricing cars others will slash the prices n half.
Man that finance rate is ridiculous for good credit the challenge credit dam thats too much. Drivers way is the same way
Those car payments are higher than my mortgage 🤣🤣! No thank you!
Thank god I can go to Navy Federal get and pre approved for a car loan if I want to purchase a vehicle with a way lower interest rate.
What they could do is get pre-qualified with a bank, credit union, capital one then head back to carmax with your own financing
Unless a large down payment
Those prices are similar to Canadian prices in Canadian dollars. Maybe even higher.
Don't blame dealers, blame the idiots that agreed to these insane prices and interest rates
Education about money management is a must have in order to survive in this world. It's something you can teach yourself about. Having great credit numbers is cash in your pocket each month. It took me four years to go from a 580 to a 815 but it can be done. I did it and so can you.
Carmax tripping for real
Carmax rep the sticker percentage is just a general rule a thumb great credit can get like 5.5-6 percent. But I haven’t seen lower than that in my couple of months working part time
8.95% is more like 9% bro, lol that’s crazy with good credit 😂😂😂😂
Lol yep!
OIt's 8.95 if your credit is good. Pay your bills.
Them rates is disrespectful. 😂😂
What would be the credit rating of an individual to get a 23% interest rate?
Brand new Charger Rts are only 38k in my area right now.
Wow 72 month financing wow
What's the blue box on the window?
That's where they store the keys
carmax prices are is stuck with the prices that were 4 years ago when covid was here, carmax is just shady
Shit is robbery, 8% is high really high. May have to save up for a while and buy cash..
Wow.
doesn't matter how many cars, CarMax sell at least 50% of them going to be repos.
Get your own finances
They are thriving because most people have fair or challenging credit, cars have become a necessity just like food. Lots of businesses become billionaires off of the fair and challenge credit demographic, there's way more of those consumers than the good credit consumers.
If America starts living below their means, strict budgeting, saving money instead of spending. Lots of business will be going bankrupt.. but the reality is people want to enjoy the money that they make and live it up and so that's where you get the fair and challenged credit.
Go to a different dealer and check the interest rates because this isn’t a carmax issue like you make it seem . It’s the same across the board no matter where you go , no matter which credit union you use .
Not 23%, 23.95%
Don't say 8% it's 8.95% that's 9% they can't keep that raggedy azzz car for 9%
I figured most people would round it up 😂🤷🏾♂️
@@HemiMuscle got to spell it out for some folk lol ijs
That's .95 not in my favor lol
They should be paying us to buy that crap
There gonna try and cash in on. All thouse over priced cars they bought. Buy charging high finance rates.
Buy new cars . Big corporations can work on the rates .
Cars & trucks aren’t fun anymore. We can all thank today’s culture and voting trends. 🤔 Enjoy! 😃
They wanna charge you Dolton Township interest rates for those used cars! 😂
Rounding rules-998 rounds up to the next number (e.g., $33,998 is $34,000, not $33,000) 😂
It's not my job. I'm reading what's on the sticker 😂 and people get the point but you're correct 👍🏾
@@HemiMuscle Great video. I think the biggest reason people buy from CarMax is because CarMax finances the cars themselves, and because of that, people with not-so-good credit can get financing. Looking forward to the next video!
That’s the laurel carmax?
I can get that Scat for 42 cash Hem.
Carmax been overpricing cars for yrs. 😂 Payback is bitch ain't it 😂😂😂😂. Now their lots are full of cars not selling.
If you had it to do all over again would you still get your 300C? There still seems to be decent inventory of these Nationwide. No where near as many as the Challengers or Chargers but definitely have a choice of any colors of the 300C that you got. 😁
I wanted a 392 300 before a hellcat, but they didn't exist brand new before now. I buy what I like, not what's trending, and I wanted blk I have zero buyers remorse 👍🏾
@@HemiMuscleQuestion, so the 300C only has a top speed of I think 155 but the same powerplant in the Charger can go up to i think 180. Is it due to a speed limiter in the 300 or is it the tires that limit the top speed?
Both and it sucks but that can be changed
@@HemiMusclethe 300C only goes to 155? WOW
Yea they smoking crack
lol bankruptcy next!
Everybody know fb marketplace the way anyways… markets bout to crash😴
Who can buy anything in this depressionary Obiden economy?
Carmax is over paying for cars I sold my 23 Type R to them to get from under it luckily. everywhere else I would have had to come out of pocket a few thousand.
I work for carmax in the business office. they want to buy cars since they hold auctions every week. which supplies the local buy here pay here places. mom and pop dealerships. but yes that civic is gonna get cleaned up put on the front lot for someone else to get into the situation u just got out of. (ugly truth) mean while I bought 2 cars for under 4 k total from being traded in perfectly fine cars
You made smart decision by selling your type R civic I've seen the price tags on the 23 civic type R and can only imagine the stress level of the $600 car payment that comes monthly with them plus high car insurance it's not worth it in this inflated economy
carmax prices are is stuck with the prices that were 4 years ago when covid was here, carmax is just shady