I can answer both of your concerns. Carmax pays top dollar for trades, especially in recent times. They are working to take over the used car market completely (similar to what Amazon did with brick and mortar shops). When factoring in sales tax and trade in pricing they often put up a very appealing deal.

How do I know this? I may very well trade off my low mileage 997.2 manual to them.

I kind of hate to tell everyone this because, like Doug Demuro, I've been Carmax warranty hacking for years. You get the ability to choose from thousands of cars, find the the one rare car that I prefer to buy, have them shipped around the country and present themselves to you, and then incur zero risk after purchase.

There is practically no other way to to buy the kind of cars that I buy at less risk, not even certified pre-owned.

 

I have had not good offers from CarMax on a 2017 M3 and 2 997s. In fact, they offered right at MMR which is the same any dealer would do if you drove up to them and I shopped all 3 cars through dealer friends here and in South Florida. CarMax was the same or less.

The market is a bit different right now, but I personally would not be interested in any 997 that ends up at Carmax. The market is too strong for 997s, especially 997.2s, and there is not reason for them to end up there unless they have issues or need sorting.

Premium cars just do not end up at places like Carmax. End of story.

 

This 100% without a doubt. Carmax would be a dumping ground for a car like a 997 for someone needing to get out quick and without much scrutiny.

 

My car is quite nice and it very much might end up there. It certainly isn't the end of story....

Long ago, I was in the car business. I can tell you, there is no general rule as to why a particular car shows up in any particular place. There are so many crazy stories behind all of them that it becomes a question that is no longer asked.

I have personally bought several very, very nice high end cars from Carmax. Recently an Audi S7 that was one of the nicest used cars I have ever seen. Ultra rich guy from Chicago traded it to get his daughter an SUV. He took the L to work so it was rarely used. It was stored indoors...a 2013 prestige, 12k miles, not a single scratch or mark on it. Anywhere!

 

I agree. It's just a car. If a rich dude decides to sell his car he can go to KBB.com and get a quote then take the car to one of the listed dealers to complete the transaction. That dealer can be real nice or from appearance...not so nice. I bought my wife's Tesla Model X performance from Carmax and it was 100% perfect, and hardly driven. A guy from Malibu with more money than most dropped it off and got a check 'cause he didn't use it. Ferraris and Lambos? Maybe not. BMW's, Porsches, and Mercedes? Absolutely. I would treat a Carmax car with the same skepticism as I would from a branded Porsche dealer. Especially after my own experience with Porsche Lehi when they "colored" the condition of a car.

 

How did you guys find so much info on the background of your cars? I didn't get any maintenance history or any info about the past owners. In any case, that's what the warranty is for.. and if you read the warranty there are very few omitted items.

 

A few years ago I bought a 991.1S from Carmax with a ridiculously great build, it was basically a GTS before they existed. PCCB, powerkit, Aerokit, etc. The car had 9k miles on it. I paid $76k and sold it for $100k. Condition was perfect aside from needing a paint correction, probably from sitting outside.

When I picked it, up the salesperson told me they’re not supposed to tell us what Carmax paid for it but he showed me a sheet that said $67k. Why would someone trade a custom ordered nearly new 991 for $67k? I have no idea.

I test drove a 997.2 base model with 20k miles on it at Carmax last week. It looked brand new.

 

Lots of people just don't want to deal with the hassle. Of selling a car. You have to clean it up, get it ready, photograph it, list it, deal with no-show buyers, test drives, etc. Carmax probably doesn't give you a different number if you take it in clean or dirty. For someone that could afford that car when new, he has enough money to not care about the $10k to not deal with the hassle.

 

This thread really surprises me with so many people liking Carmax, particularly when buying a car like a 911. I've never bought from them but comments in the past have not been very favorable. They also have a reputation on many car forums as the place to dump a car with mechanical issues before it becomes totally obvious.

Have they changed recently? They'll make an offer on any piece of junk that is brought in, have they raised their standards as to what is kept for resale? Or is just that with the 7 day return and reasonably-priced warranty a savvy buyer can protect themselves against a dud?

 

It is has not changed. They are the worst. I have a dealer's license and close friends owning new car dealerships ranging from Porsche, Rolls, Bentley, Aston, Ferrari, Maserati to used highline and exotic dealerships that buy and sell Porsches.

CarMax offers MMR, THE SAME AS EVERYONE ELSE.

The only reason CarMax might offer more on a case by case basis is if someone had a POS car with issues that a legitimate dealer is low balling on trade and will DUMP wholesale (because its awful) or the car cannot be sold privately (Bad PPI issues). CarMax may be willing to take it and sell it cheaply because they look to make most of their money on the back and will apparently sell it without a PPI.

CarMax apparently does not allow PPIs, but has their 7 day return policy (minus restoking and shipping fees) apparently knowing that most will NOT go get an inspection after they purchase, especially Carmax has some cheap aftermarket short term coverage so Carmax customer never gets an inspection pre or post purchase and Carmax is able to sell a car that would never pass a PPI or get sold privately or by a legitimate dealer.

Most guys with high end cars and in the high end sports car game DO NOT mess with or even step foot onto a CarMax lot. There is no reason to dump a car with a strong market like a 997.2 that is well sorted. Most in this market will trade in at high end lots to get the tax break in most states or sell outright if really penny pinching. CarMax is a distress sell site for a car like a 997.2.

A Porsche dealership will not let a good, well sorted 997.2 trade off their lot. They will offer MMR the same as CarMax if they car is even halfway decent.
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That is not say a great car will never end up at Carmax, but I personally would never set foot on their lot. The may look great but have a serious underlying issue like scoring or a wreck history that just has not shown up yet as there is a lag there.

Why do not they not allow PPIs? Because they are playing the odds and know with their 7 day return policy human nature is for the consumer to suck it up and keep it without an inspection after the purchase especially if they have some roll out small, temp warranty where they pass on costs of repairs to a third-party or the consumer.

Then they also charge restocking fees, shipping charges and say it could take a couple of months to get your money back so if you need a car and your funds are tied up . . . they got you.
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The car was probably worth $90k on trade at a Porsche dealer at the time. There must have been a story of some sort because I can't fathom someone that knows enough to have custom ordered this build taking an $80k hit after driving it for two years and 9k miles, the MSRP was $146k. There is no way a dealer would've ordered this build to put on the lot. Either way, it worked out great for me and the Rennlister that bought it from me.

 

Have to disagree. Carmax offered more on two of my cars and my dad's Panamera than the Porsche dealer did. The dealer only wanted to give the ridiculously low KBB "instant offer" and wouldn't budge. Many of the Porsche's I've seen at Carmax have been in great condition, and where else can you get a 5-year exclusionary warranty on a 10 year old German car for $3k?

Are there scummy people out there who dump cars knowing they might have problems? Yeah, there are. Are the majority of people trading in a car in this boat? No, they just don't want to deal with the hassle of selling themselves for the extra few thousand bucks. When you factor in the tax credit on trade that's allowed in most states, there may be little to no difference between selling privately and trading it in.

I have also never heard of a restocking fee for the Carmax 7-day return policy. Where did you see that? The only money you lose if returning the car is the shipping cost which is clearly stated up front, and most of the shipping fees are pretty reasonable if you aren't shipping it all the way across the country. .

 

You can have a PPI done during your 7 day "grace' period. If they won't fix it, just return the car.

 

Agree with you. And they don't have a restocking charge. I went to look at the Tesla but didn't know if I would even enjoy owning an electric car. The salesman said try it for 7 days and if you don't want it simply bring it back. I said "Really?" I was shocked. It was the simplest, fastest, easiest transaction ever. I wrote a check and drove off. No closing office....no bullsh*t. And you know why they do it? It WORKS and MOST people don't return their purchase.

It's one of the reasons that at my business Upscale Audio we got rid of our 15-day refund 15% restocking charge policy. Now it's a 60-day 100% money-back guarantee. For any reason, or no reason. Guess what happened. Our returns went up only slightly but our business has exploded.

As to problematic cars being dumped at Carmax with bore scoring problems, branded Porsche dealers would most likely get stuck too and resell them the same. I've seen it on this forum. The problem is if you buy it from a Porsche dealer you can't refund it. And usually zero warranty. Carmax has a 90 day 4,000 mile warranty on EVERY car. I would not trust a Porsche dealer's car any more than a Carmax car, or even the sleaziest dealers in Los Angeles. I would use the same rules about being very skeptical....especially with a older, higher mileage car.

Dealers are dealers. They buy cars where ever they can. The salesman RARELY knows much about the true story, because it just shows up. They know little more than you do. They didn't live with it for the last 10 years and three owners.

Judge the car. I don't give any dealer a pass or assume they will do my due diligence for me.