Rafael: Since they focus on used cars; how do they obtain the inventory, how does "buying your car even if you don't but from us" strategy support the customer experience and thus the strategic positioning of selling quality used cars?
CarMax is America’s #1 used car retailer because they promise a hassle free, haggle free customer experience whether you are buying or selling your used car.
CarMax promises to buy any car they appraise, regardless of make, mileage, or condition. The best part of this guarantee is that the offer will remain is valid for 7 days after the appraisal, regardless if you purchase a used vehicle from them or not.
Selling to CarMax vs. another dealer – CarMax is honest, transparent, and offers to buy your car at fair market value.
A huge part of CarMax’s success in purchasing used cars is the outstanding customer experience and hassle free process. The appraisal process lasts only about 30 minutes, largely in part to their certified appraisers who – undergo special training, average 5 years on the job, and average 5,000 vehicles appraised.
Customer’s walk away from the experience with a 100% written offer that is good for 7 days at any CarMax location. If the customer decides to sell their car to CarMax, the sales transactions takes only 20 minutes and CarMax buyers complete all of the necessary paperwork and the customer leaves with a check in their hand.
I also have a personal story which perhaps can be integrated into the paper as it is a strategy that CarMax also encourages you to consider when selling your car. I had a lease that was soon to be due, however, I was about 12,000 miles over the allowed mileage on my contract. This would have cost me about $3,000 at the dealer (12,000 x $0.25 per mile over). I took my car to CarMax to get appraised and the process was truly as hassle free as they promote. After 30 minutes I was presented with an offer that was $1,000 over my payoff on the lease. So not only did I not have...