CarMax Live Oak - San Antonio, TX (2024)

FAQs

Does CarMax offer the highest price? ›

The company ranked as one of the best for pricing when buying a used car, offering the top overall selling prices. Customers agree with the value CarMax offers, according to many who praise the company's overall value when buying and selling vehicles.

The vehicles are generally 5 years old or newer though most of their cars are 3-year-old off-lease vehicles. CarMax also offers a 30-day return policy (up to 1,500 miles) and 90-day or 4,000-mile limited warranty on all vehicle purchases.

In some cases, the negative equity can be included in your financing when you buy a CarMax car. If not, we'll calculate the difference between your pay-off and our offer to you and you can pay CarMax directly. If the amount you owe is less than $250, we will accept a personal check.

RICHMOND, Virginia (October 26, 2016) – CarMax, Inc. (NYSE: KMX), the nation's largest retailer of used cars, selected the city of Murrieta as the location to build the company's largest multi-purpose facility to date.

How do you negotiate Carmax prices? You don't. That's the whole premise and business model of the company. They offer fair market prices, and no haggling.

Private Sale. You can likely get the most money for your car by selling it privately. This is because you're selling to the next owner directly instead of through a middleman like a dealership or car buying website.

Circuit City executives developed the concept for CarMax under then-CEO Richard L. Sharp. It was developed for nearly a year in 1991, using the code name "Project X". It was also known as "Honest Rick's Used Cars" to those intimately involved in the skunk works team.

Cars older than 8-10 years will be a riskier option, depending on the driving and maintenance history, while vehicles over 15-20 are usually nearing the end of their service lives.

CarMax accepts all kinds of vehicles. This also includes those that are damaged, have mechanical issues, and cosmetic defects.

You will leave with payment in hand the same day you sell us your car. We pay with a bank draft, which is a type of check where payment is guaranteed to be available by the issuing bank. A bank draft must be deposited and cannot be cashed.

How long should you keep a car before trading it in? ›

Trading in your car after two years and before three years might get you more than if you waited until after three years, because your new car warranties are likely still active at two years. But it should ultimately depend on your financial situation and your car's depreciation after the two years.

RICHMOND, Va. --(BUSINESS WIRE)-- The Nissan Altima was the No. 1 choice for used car shoppers at CarMax for the second year in a row, according to the company's 2015 Used Car Shopping Report published today.

CarMax is the leading online used-car retailer in the country, selling about 808,000 vehicles in 2022. That's nearly double the amount of Carvana, which sold about 412,000.