I purchased a 2005 Acura TSX through Carmax in 2010 and I am in the process of selling the car now. I feel that I am knowledgeable with cars and I noticed the hood, quarter panel and bumper were not as glossy as the rest of the car about a month after my purchase but I just figured the previous owner didn't keep wax or maintain the car as well as they should have and I could wax and buff these areas back to glossy.
I took it to get its 75K service done by my local auto shop and I wanted them take a complete look at the car before I sold it to make sure everything was OK with the car. They let me know right away that the car had been in a wreck.
When I purchased through Carmax they said it did not have any accidents and the title was clean. Although the car has a clean title from what I can tell, I have already had numerous buyers walk away because of this and because they don't trust a wrecked car (I do not blame them). Another issue is that the paint is now starting to crack where it has been repainted making it even harder to sell. UGH!
Does anyone know what my options are since it has been a couple years now? About 6 months they offered me $10,000 for my trade in and I owe about $11,XXX on the rest of my loan. Do you think if I argue my point they will give me what I owe and call it a day or am I basically SOL? It has really hurt the chances of me selling it. I understand it is a tough lesson learned and if anyone can assist then I would really appreciate it!
Side note: I was given a rate of 12.45% when I first got approved with them. I have had 2 years of paying three weeks ahead of time (bill due on the 7th of every month but I pay on the 15th and yes three weeks ahead and not one week behind, haha) and before I purchased my new car (at 2.1%) I called to see what they could do about my %. They said nothing and even when I said "You would rather lose a customer who for two years has had a great record than just work with me on it" and the lady said "yes, there is nothing we can do." I signed the paperwork at the 12.45% and I am OK with that but I think they should look into this policy and work with customers who have longer terms and a great track record. This is just more me venting about my experience with Carmax vs really looking for advise.
Additional side note: I do not like the 3 options, I am not the "I am pissed" but I am also not "Neutral." I am right in the middle of just being upset about the whole situation. Any advise, feedback or help would be greatly appreciated.
Product or Service Mentioned: Carmax Loan.
Monetary Loss: $7500.