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|Car Buyer Indicate they want Vehicle Return Option|
Poll Says Majority of Car Buyers Have Wanted Option to Return a Vehicle
RICHMOND, Va. (September 26, 2006)-A recent CarMax, Inc. (NYSE: KMX) poll of more than 28,000 car shoppers on carmax.com showed that 78 percent of car purchasers have, at one time or another, wished they could return a car within the first few days of buying it. Just 22 percent of respondents had never experienced buyer’s remorse.
When asked the question, "Have you ever wished you could return a car within the first few days of buying it?" visitors to www.carmax.com answered:
"An easy way to prevent buyer’s remorse is to check the seller’s policy on returns or exchanges before the purchase, much like you do when shopping for other merchandise," said Joe Kunkel, senior vice president of marketing and strategy for CarMax. "CarMax offers a five-day, money-back guarantee. This is just another aspect of the car-buying process when it pays to be fully informed before signing a contract."
"Consumers should also be wary of retailers offering an exchange policy rather than a return option," Kunkel said. "Even if they offer to exchange the vehicle later, you may not be able to find the exact vehicle that you want."
If the car retailer provides a vehicle return option, check the purchase agreement to determine whether there are any associated fees. CarMax’s five-day, money-back guarantee provides consumers a full refund with no related fees. Simply bring it back in the same condition in which it was purchased, and you'll get a full refund.
CarMax, a FORTUNE 500 company, and one of the FORTUNE 2006 "100 Best Companies to Work For," is the nation's largest retailer of used cars. Headquartered in Richmond, Va., CarMax currently operates 71 used car superstores in 34 markets. CarMax also operates seven new car franchises, all of which are integrated or co-located with its used car superstores. During the twelve month period ended August 31, 2006, the company sold 311,241 used cars, which is 94% of the total 330,296 vehicles the company retailed during that period. For more information, access the CarMax website at www.carmax.com.