When it comes to buying a new car, there are many options you can head to, but how do you know the best one? Is buying a used car from a private party more profitable than heading to a certified used car dealership? Would you even go to a used car dealership or head directly to CarMax? The marketing experts from Edmunds have devised a ranking system that takes into consideration: selection, price, warranty, buying experience and quality of car. These will be ranked on a scale starting with 1 (as the lowest) and 5 (as best). These rankings are dead useful when you’re in doubt or missing a heading. Have a look and you may get the main idea of the best place for you, depending on what’s most important to you: price, warranty, quality etc.
Let’s start with the biggest. CarMax is an independent chain of dealerships that has over 100 stores throughout the country. They have established a foothold as one of the best option on the used car market. They have many rigorous tests done on each vehicle. If you look on the website you’ll find that not even 50% of the cars pass their standards and be sold at their dealerships. The rest are simply sold for parts or at auction houses.
Where To Buy A Used Car
The best thing about buying from CarMax is that there is no 3 hours hassle for every little feature of the car. They don’t pay their employees with commissions, they have salaries which imply that, no matter if you buy a Prius or a Lamborghini, they get paid the same. This allows the dealer to focus best on what the client needs, not on gathering sales.
If you bring a trade in car, you will also get a fixed price on that too (no more headaches). Every CarMax vehicles comes with a limited warranty of 30 days. Even more, they offer a five day refund in case you feel like getting another car. Since it’s such a wide business, there are many vehicles to select from and it can be done online as well. If you found the vehicle you want but it’s at another branched, they will ship it at your location for a small fee. All these options got them the highest marks receiving 4 out of 5 in selection, 3 in price, 4 in warranty, 4 in buying experience and 4 in quality of car. Which makes a total of 19.
The second best is the CPO (Certified Pre Owned) and for good reason. This is the best way to get rid of all doubts regarding the condition of the car. Since they specialize in a single brand, CPO vehicles receive a thorough inspection before they are placed on display and reconditioning is made with factory parts alone. But where they excel, is at the warranty department. A CPO will offer you a warranty of 1 year or 12.000 miles and 5 years or 100.000 miles powertrain warranty, no matter what you choose.
On the other side, this warranty and peace of mind comes at a high cost. The CPO is the most expensive used car option you have. The marketing research shows us that a customer will pay for a CPO car from 2006 nothing less than $1900 premium. If you decide to go for a luxury CPO vehicle than that price can increase dramatically. For that reason they get the lowest mark in price, but receive 3 out of 5 in selection, a maximum of 5 in warranty and quality of car, and 4 in buying experience
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