'CarMax Has To Be Stopped:' Man Goes to CarMax. Then He Sees How Much a 2015 Nissan Altima Is Selling For

• Nissan

Used cars aren't the budget-friendly option they once were, and the sticker prices at dealership lots continue to leave shoppers stunned.

With the average used vehicle transaction price hovering around record highs, even decade-old cars with six-figure mileage can carry price tags that would have seemed outrageous just a few years ago. 

For many buyers, particularly those with limited car knowledge, it's become increasingly difficult to distinguish between a reasonable deal and highway robbery.

This pricing reality has created a perfect storm where desperate buyers find themselves paying premium prices for vehicles that may need significant repairs shortly after purchase.

Man Calls Out CarMax Price on High-Mileage Altima

In a viral video with 184,000 views, car enthusiast @probably_jaaj accuses CarMax of overcharging for a used car.

The content creator was in disbelief when he found a 2015 Nissan Altima S priced at $12,000 on a CarMax lot. He pointed out that it was a base model sedan, without a backup camera and with cloth seats. To make matters worse, it already had 126,000 miles on the odometer.

"CarMax has to be stopped," @probably_jaaj says. "This is a 2015 Nissan Altima S, meaning that it doesn't have a backup camera, base model, no frills, no features, and they want $12,000 for this?"

The TikToker breaks down the financing terms displayed on the vehicle's window sticker, showing monthly payments of up to $308 for 72 months without a down payment for those with poor credit. That ends up being about $22,000 for the life of the loan, a whole $10,000 more.

Beyond the price concerns, @probably_jaaj points out cosmetic issues with the vehicle, including poorly executed headlight restoration work. 

"They tried to polish the lights, but they didn't do a very good job," he says, showing swirl marks on the headlights.

The creator guesses that CarMax acquired the vehicle at auction for a couple of thousand bucks, yet after taxes, title, and licensing fees, the customer would pay close to $14,000.

Plus, he noted the car (based on his assessment) is likely going to need a new transmission “the moment you drive this thing off the lot."

Despite all this, @probably_jaaj believes they’ll probably find a buyer. 

"Some idiot is gonna come out and buy this car because it has push-to-start and Bluetooth," he says. "It's actually insane."

Is CarMax overcharging?

Gallery: 2016 Nissan Altima priced from $22,500

According to Kelley Blue Book, similar 2015 Nissan Altimas with 60,000-70,000 miles are valued at around $12,000.

But remember, the CarMax vehicle has 126,000 miles, nearly double that mileage.

Cars with similarly high mileage are actually valued around $7,000 on KBB, meaning CarMax is asking $5,000 more than what the vehicle should be worth based on its standard market valuations.

Why Do Used Cars Cost So Much?

The sticker shock isn't just happening at CarMax, used car prices are high everywhere. 

The average price for a three-year-old vehicle hit $31,156 in August, which is close to the all-time record of $31,628 set in 2022. That's a 5.5% jump from just a year ago, and these prices have basically stayed at pandemic-era levels, NerdWallet reports.

It’s because there simply aren't enough used cars to go around. People are holding onto their cars longer, and fewer lease returns are hitting the market.

Meanwhile, NerdWallet says new car prices have climbed 22% since 2019, with the average new vehicle now costing around $49,000. When new cars are that expensive, more buyers flood the used market, which drives up demand and prices even higher.

The financing situation makes everything worse. The average monthly payment for a used car is now $565, and interest rates are still elevated from pandemic levels.

Nearly 20% of new car buyers are committing to monthly payments of $1,000 or more, which shows just how stretched people are getting to afford vehicles in today's market.

Is the Price Right—or Wrong?

A common adage applied to sales is that an item is worth whatever someone is willing to pay for it. This may be particularly true in the used car market. Even with high mileage, if it’s well kept or has upgrades or added features, even a 2015 with 126,000 miles might be worth more than the industry standard.

CarMax declined to comment.

People in the comments disagreed that the price of this 2015 Altima is right, however.

“That’s a $5k car at most!” a top comment read.

“It isn’t just CarMax. It’s the market. It’s used dealers, Carvana and CarMax,” a person noted.

“The thing is someone who doesn't know any better who just needs a cheap car will see this and think it's a good deal just because it's shiny and priced under $15k,” another wrote.

Motor1 reached out to @probably_jaaj for comment via TikTok direct message. We’ll update this if he responds.