FAQs
CarMax has a no-haggle policy, which means you can't negotiate the price. This can be a benefit, though, because you know you're getting CarMax's best rate first instead of a lowball offer. You can still sell your car to CarMax after the seven-day period, but you'll need to get a new offer.
Does CarMax have to honor their online offers? ›
Yes, and our offer will be the same whether you're buying from us or not. Is the online offer a real offer or an estimate? We provide real offers, both online and in-store, and all of our offers are good for 7 days. If you have an online offer to redeem, bring it to any CarMax store.
How fast do you get paid from CarMax? ›
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 does CarMax determine your offer? ›
We analyze your car's specific year, make, model, mileage, and features. We consider its condition, history, and use from information you provide, our own assessments, and internal and third-party history information.
Should I wash my car before bringing it to CarMax? ›
It is recommended that you clean your car beforehand. While a professional detailing is not necessary, you should do your best to remove all stains and make your car as presentable as possible. When you take your vehicle in for an appraisal, the salesperson will bring your vehicle to the in-house team of appraisers.
Will CarMax buy my car if I still owe money on it? ›
CarMax buys vehicles that are not paid off. To sell a car you still owe money on to the retailer, you must provide loan information so CarMax can pay off the lender. If you owe more than your offer, you will need to cover the difference.
What leases will CarMax not buy? ›
Please note that CarMax cannot purchase a vehicle currently leased through the following companies: Nissan Motor Acceptance, Infiniti Financial Services, Honda Finance, Southeast Toyota Financial, GM Financial, Ford Credit, Mazda Credit, World Omni, Volvo Financial, Lincoln Credit, Acura Financial, BMW Financial ...
Where is the best place to buy a car online? ›
Cars.com, Carvana, Edmunds, CarMax and TrueCar are our top recommendations for used car websites. Whether you want to find your ideal pre-owned vehicle or find the right buyer for a car you're selling, these sites are easy to use and offer excellent customer support.
Does CarMax buy cars with mechanical problems? ›
The short answer to this question is yes, they do. CarMax buys cars in all types of shape. They buy cars with transmission trouble, engine trouble, blown head gaskets, bad clutches and more. CarMax will buy almost any vehicle.
Does CarMax give you a check on the spot? ›
Once we've made an offer on your vehicle and you've accepted it (and you've brought your paperwork, IDs, keys, and remote fobs with you), we can issue you a bank draft on the spot. If you're interested in selling your car to CarMax, click here.
Can I pay ahead? Yes, however, even if you are paid-ahead, finance charges will continue to accrue daily on your account. The next payment you make will be applied first to the finance charges that have accrued since the last payment you made.
Will CarMax let you skip a payment? ›
CarMax offers payment accommodations in the form of a due date change or payment extensions for those experiencing short-term hardships including a change in employment status, an unanticipated medical situation, adverse impacts from a natural disaster and more.
Can you negotiate offer with CarMax? ›
No, all of our offers are firm and valid for 7 days.
Does CarMax give you what they quote? ›
We provide real offers, both online and in-store, and they are valid for 7 days. If you have an online offer to redeem, bring it to any CarMax store.
What does CarMax pre-approval mean? ›
Generally, a pre-qualification is when a finance company or lender does a basic review of your information and credit history to determine if you're likely to qualify for financing a car. A pre-qualification usually results in a soft credit inquiry, which won't impact your credit score.
Can you negotiate with Carfax? ›
A car fax is an estimated value of a vehicle, it is not binding on either party. It's like a Zillow listing for a home. You can use a car fax to negotiate a price but you cannot force a sale, just like a dealer cannot force a purchase based upon a listing.
What does no-haggle price mean on CarMax? ›
A no-haggle price means the sticker price is the true price you pay for the car, not a starting point for negotiations. No-haggle car buying lets shoppers easily compare the price of vehicles from different dealerships. It saves time and effort, which many drivers deem invaluable, even if it may not always save money.
Is no-haggle price negotiable? ›
No-haggle dealerships offer a unique set of benefits for car buyers looking for a quick and straightforward process. The benefits of shopping at a no-haggle car dealership include: A simple, negotiation-free car buying experience. No guessing about the price you'll pay.
Can you negotiate the price on Carvana? ›
We don't negotiate on pricing; our vehicles are priced as competitively as possible and we never add on any dealer charges.