Should I Sell My Car to CarMax?
CarMax is a used car retailer based in Virginia, United States. It offers an easy way to sell your used car. Considering that selling your car to CarMax is as easy as dropping it off at one of their offices, CarMax is an excellent company to sell your car to.
CarMax is among the largest in the country, with more than 220 stores across 41 states. Based on their website, CarMax has already sold more than nine million cars.
Besides selling cars, CarMax also buys and trades vehicles. With around nine million cars purchased, CarMax is definitely among the companies you should consider selling your car to.
Aside from its service coverage, another reason to sell your car to CarMax is the ease of the process.
Best for Older & Damaged Cars
Buys used, damaged or junk cars
Free tow and no hidden fees
Pays by ACH trasfer or check
Top Pick for Junk Cars
Free, no-obligation cash offers
Offers free paperwork service
Pays on the spot upon pick up
Highly Rated by Customers
Excellent customer service ratings
Honors guaranteed offer for 7 days
Can pick up a car within 48 hours
Great for Low-Mileage Cars
Gives a real offer in 2 minutes
100% hassle-free online process
Free car’s Value Tracker available
How to Sell Your Car to CarMax?
To start, visit the CarMax website and provide your car’s license plate number, state of registration, and zip code. You can also enter your car’s Vehicle Identification Number (VIN).
After submitting the information about your car, CarMax will direct you to the webpage where you’ll provide more details about your car.
There are drop-down options where you can select your car’s drive and transmission. You also need to confirm your car’s condition and mileage, as well as the following:
- Accident history
- Flood and frame damage
- Mechanical issues
- Prior odometer issues
- Number of keys
- Leasing details, if applicable
After providing this information, CarMax will show you the offered amount. You can accept it by clicking on the Continue button.
In some cases, though, CarMax might not have sufficient data to make an offer for your car. This can happen for cars that are not quite common in the market. In this case, CarMax will ask you to schedule an in-store appraisal instead.
Setting Up an Appointment
When you accept the online offer, you’ll need to set up an appointment at the closest CarMax store. Fortunately, the website automatically selects the closest store based on your provided zip code. From there, you only need to select the date and time.
Please provide your complete name and contact details so that the CarMax store can prepare the payment.
What To Do Before Your Appointment with CarMax
You need to prepare some things before your appointment at the CarMax store. Suppose your car is still on the lease. In that case, you need to ensure that the leasing company will accept any payoffs from CarMax.
Additionally, you’ll need to bring your account number and leasing company’s contact details to your appointment with CarMax. You can also check with the leasing company to see if CarMax can obtain payoff information during your appointment.
Then, make sure you have the following before you drive to the CarMax store:
- CarMax offer code
- Title or payoff information
- Valid registration
- State-issue ID
- Your car’s keys or remotes
How Much Does CarMax Pay?
CarMax pays depending on some determining factors, such as market trends and the details you provided. On top of these, CarMax looks at your car’s interior and exterior conditions and checks for major defects.
During your appointment, CarMax might take your car for a test drive to check the brakes and signal lights. If necessary repairs are needed, CarMax might adjust the offer.
For example, CarMax offers $3,200 for a 2003 Acura RL that’s in good condition. After inspection, this offer can either stay the same or change based on the CarMax inspection report.
What Types of Cars Does CarMax Buy?
CarMax buys different types of cars in varying conditions. You can even sell the car that has been sitting in your garage for the last decade.
However, there are some reasons when CarMax might not purchase a car. After all, it buys cars for store inventory. Some of these are frame damage, flood damage, or having a salvage history.
How Long Does the Sell to CarMax Offer Last?
Whether you received the offer online or in-store, it’s good for seven days. Considering how reasonably long this time frame is, you can check out offers from other buyers.
How Long Does it Take to Sell Your Car to CarMax?
The online process to get an offer from CarMax usually takes a couple of minutes. From there, you can accept the offer right away and schedule an appointment with a CarMax store.
Depending on how busy the store is, you can try to bring your car without an appointment. Just make sure to take the necessary documents to finalize the sale.
But to ensure that CarMax can assist you, it’s still best to set up an appointment beforehand.
When you arrive at the store, you’ll need to check in at the main desk. This allows them to confirm whether you came for an in-store appraisal or you’re redeeming an offer.
Since you’ll be redeeming an offer, CarMax will confirm your car’s details and condition. After that, CarMax will finalize the offer, and you can proceed with the sale. You’ll need to complete some paperwork, more if your car is still on the lease.
Once you complete the paperwork, CarMax will pay you using a bank draft. You’ll need to deposit it to your account, instead of cashing it. To ensure the posting date, check with your bank if they have a holding policy for bank drafts.
Your appointment can take 30 to 90 minutes, from checking in at the front desk to receiving the bank draft as payment.
Does CarMax Inspect Your Car?
The short answer here is yes. It’s because CarMax still has to confirm that the information provided online is accurate and reflective of the offer.
You don’t have to worry about the cleanliness of your car, though. For CarMax, long-term maintenance and care are more important. These directly impact your car’s interior, exterior, and mechanical conditions.
CarMax can finalize the offer after the inspection. If they found some issues undisclosed during the online process, they might need to adjust the offer accordingly.
Suppose CarMax found some issues you’re unaware of and these need repairs. In that case, CarMax might also adjust their offer depending on how much the repairs might cost.
