Here's What Happens When You Take a $2 Million Bugatti Veyron to CarMax
How to break the CarMax appraisal system in one simple step.
The $1.5 million Bugatti Veyron has always been a car of superlatives. Sixteen cylinders. Up to 1,200 horsepower. The fastest car in the world at one point. But thirteen years since it stormed onto the scene, it's no longer the hottest ticket in town. So when you're ready to move on, what happens if you decide to sell your Veyron to CarMax?
To answer the question that no one has ever asked, owner Houston Crosta of Royalty Exotic Cars—a high-end rental business in Las Vegas—took his company's Mansory Edition Veyron to the used car mega-emporium for what has to be its most outlandish appraisal yet. Last we checked in, Crosta was lending it out for a very expensive burnout session, but this video proves to be a bit more educational.
CarMax is popular because it promises to streamline the buying and selling process. A person can show up and walk away with a check for their car in a few hours, or buy a new (used) one at a straightforward, haggle-free price. Trade-in values are determined by the company's internal algorithms, not an individual dealer. Even the magic of math has its limits, though.
(The video should be cued in to the right spot, but if not, skip to 3:54.)
Obviously, the number CarMax offers for any car is going to be below what you'd get in a private sale. They're out to make money, after all. But if you've ever felt insulted by a lowball appraisal on your ride, you'll know exactly what Crosta is thinking when he hears the tiny offer for his Veyron, which also has a $1 million carbon fiber body kit from Mansory.
After a thorough inspection and entering the Veyron into the computer as a Volkswagen Beetle with a V12 engine (the closest entry the salesman could find), CarMax ends up appraising it at a mere $200,000; in other words, around one-tenth of the car's real value. But it's not as insulting as it sounds—that's actually the most CarMax can offer, the salesman sheepishly explains. As you might guess, Crosta decides to hold on to the Veyron for now. Hey, there's always eBay.