CarMax: 78% of Car Shoppers Wish for Return Option
September 26, 2006
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RICHMOND, Va. -- Polling more than 28,000 car shoppers, CarMax discovered that 78 percent of vehicle purchasers at one time or another wished they could have returned a car within the first few days of buying it. Only 22 percent of participants on the company's site said they never experienced buyer's remorse.
"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," explained Joe Kunkel, senior vice president of marketing and strategy for CarMax.
"CarMax offers a five-day, money-back guarantee," he pointed out. "This is just another aspect of the car-buying process when it pays to be fully informed before signing a contract."
If a retailer provides the return option, Kunkel suggested that consumers review the contract to see if there are any fees associated. He said CarMax has no fees associated with its policy.
"Consumers should also be wary of retailers offering an exchange policy rather than a return option," he said. "Even if they offer to exchange the vehicle later, you may not be able to find the exact vehicle that you want."
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