CarMax Recap 2021: Is Selling Your Car to CarMax a Good Idea?

CarMax recently launched a new program that allows you to sell your vehicle to CarMax and receive a $5,000 credit. In exchange, you give up your car title and registration, but CarMax pays you to do so. If you are looking to make some extra money, this may be a good way to do so. That being said, this post is meant to be a guide for people who are interested in selling their car to CarMax. The post will discuss the pros and cons of selling to CarMax and the benefits, risks, and potentially many more questions you should ask yourself before moving forward.

CarMax is a company that has been around since the early 2000’s. They offer low prices but you are out of your car in 15 days. CarMax is a company that has been around since the early 2000’s. They offer low prices but you are out of your car in 15 days.

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CarMax is a car dealership that prides itself on offering you a stress-free way to buy or sell your car. Selling a car through CarMax is more convenient and simple than working with a traditional dealer or selling a car privately.

For

• A no-sales policy allows CarMax to pay you in advance.
• You can apply online without visiting the dealership.
• You don’t have to advertise or convince strangers to buy your car.
• CarMax offers a good price for your used car

Cons

• High processing fee, $100 to $400 at some CarMax locations.
• Although this process is stress-free, you will still need to visit a car dealer before you can sell your car, rather than having an appraiser pick it up from your home.

Top sites for selling used, damaged or unwanted cars across the country

Pedal

Get a free quote now – 1 minute (855) 925 4302

Choose a convenient date and time for your free pickup – the very next day.

You will be paid by cheque when you recover a vehicle (damaged, unwanted, defective)

Wheelzy

Using innovative artificial intelligence technology, Wheelzy can estimate the value and damage of any vehicle in a minimum of time, using only photos.

Each offer includes free lifting/towing

You will receive a check the same day your Wheelzy agent picks up your car.

CarBrain

Receive an offer within 2 minutes and sell your damaged vehicle within 24-48 hours of bid acceptance.

Free vehicle towing and no charge for removing the damaged vehicle.

The tow truck driver will come with your check…

What is CarMax?

CarMax is a car dealership that prides itself on offering you a stress-free way to buy or sell your car.

CarMax is headquartered in Richmond, VA, and the company employs more than 27,000 people. The company has been around for almost 30 years and has up to 200 physical locations in the United States.

Today, CarMax has become the ideal place to sell a car at a reasonable price, especially since it can be done online.

How does CarMax work?

CarMax offers 2 different services:

1. You can buy a car through CarMax
2. You can sell your car through CarMax

In this article, I will focus on the second option and give you information on how to sell your car through CarMax.

Selling a car through CarMax is more convenient and simple than working with a traditional dealer or selling a car privately.

The sales process begins with a visit to the CarMax website and submitting a quick request for a free evaluation.

With their no sale policy, you can get immediate payment for the car or wait 7 days to check the quote before finalizing the contract.

Even better: CarMax buys all types of cars, so you don’t have to worry about which car model you want to sell.

What kind of cars does CarMax buy?

When it comes to the types of cars you can sell, CarMax isn’t too picky. The company accepts vehicles of all makes and models in all conditions. This means that you can even sell your damaged car to CarMax.

So CarMax will also buy your car if he has one:

• Engine problems
• The engine check engine light comes on
• It’s a piece of junk.

Keep in mind, however, that CarMax will carefully inspect your vehicle and check its history, condition and preferences. That means CarMax will not buy a car with this:

• The story of redemption
• Damage to the frame
• Damage caused by flooding

CarMax Sales Documents – what documents do I need?

Let’s take a look at all the necessary documents you need to submit to CarMax to sell your car:

1. Car ownership – you must provide proof of ownership of your car. If you do not have a title, you must contact your local Department of Motor Vehicles (DMV) to obtain a duplicate vehicle title. Please note that all security holders must be present and the withdrawal details must be completed.
2. Vehicle Registration Certificate – You will also need a valid and recent vehicle registration certificate as proof of ownership.
3. Identification – You must be able to show a valid government issued photo ID. If the vehicle has other owners, each of them must show his identity card.
4. Keys and Remotes – Finally, you must surrender all keys and remotes to the car.

How much does CarMax pay for a used car?

After submitting your online application, CarMax will personally inspect your vehicle to give you an accurate estimate. Experienced assessors will rate your vehicle based on its performance:

• Status
• Mileage
• Accident history
• Condition of the interior (are there any holes, stains or burn marks?)
• Exterior condition (are there any dents, damage, or potholes?)

Is CarMax legal?

Yes, CarMax is a reputable company that does what it says – it buys your car directly from you.

Although CarMax has an A+ rating, it is not accredited by the Better Business Bureau and has an overall rating of 1.2 out of 5 stars. However, none of the negative rfeedbacks are about the company’s car sales; rather, buyers who have purchased a car from CarMax are unhappy because they say they had to pay a lot of money for credit.

CarMax’s rating on Trustpilot is also low (2 out of 5 stars), and customers of this platform also complain about the quality of the cars they bought from the company and its credit ratio.

Better Business Bureau	1.2/5 Stars
Trustpilot	2/5 Stars

CarMax taxes

CarMax offers a free estimate. However, some CarMax stores charge processing fees of $100 to $400 to cover the cost of all sales documents.

You must also pay all government fees associated with the sale of the vehicle, such as. B. :

• Registration fee
• Securities transfer charges
• Tax levy

Note that these fees vary from state to state.

How to sell your car with CarMax?

Selling your car with CarMax is easy – just follow these few steps.

Step 1: Registration with CarMax

The very first step to sell your car on CarMax is to go to the CarMax website and click on the Sell option on the home page.

Step 2: Fill in form

Once on the sales page, you will need to fill out a short form with information about your vehicle, such as B :

• Brand and model of your vehicle
• Year of production
• Current situation
• Vehicle location

This information helps the experts at CarMax to make the best offer for your car.

Step 3: Inspection

If your car is of interest to CarMax, you will receive an email asking you to make an appointment and bring your car in for the inspection.

This step is necessary for CarMax to verify that your vehicle meets the specifications you provided.

Step 4: Receiving an offer

After the inspection, you will immediately receive a quote for your vehicle. You can accept the offer immediately or give yourself a few days (up to 7 days) to make a decision.

Step 5: Handing over documents and car keys

Once you have accepted CarMax’s offer, all you have to do is hand over all the necessary documents and the keys to your vehicle.

Step 6: Getting paid

The best thing about CarMax is that they give you the money on the same day you sell your car. CarMax pays by bank draft, a type of check that guarantees the availability of the payment at the issuing bank.

Please note that the bank check must be deposited and cannot be cashed.

Advantages and disadvantages of CarMax

Professional

• A no-sales policy allows CarMax to pay you in advance.
• You can apply online without visiting the dealership.
• You don’t have to advertise or convince strangers to buy your car.
• CarMax offers a good price for your used car

Cons

• High processing fee, $100 to $400 at some CarMax locations.
• Although this process is stress-free, you will still need to visit a car dealer before you can sell your car, rather than having an appraiser pick it up from your home.

CarMax alternatives

CarMax vs Pedal

Peddle is one of the largest companies that buys back your used or even unwanted cars and operates across the country. Both CarMax and Paddle offer instant online quotes, but CarMax still requires you to go to the dealership for an inspection. Peddle, on the other hand, will pick up your car for free or tow it directly from the parking lot and give you a receipt.

Pedal summary

• Buys used, damaged or unwanted vehicles nationwide.
• Get an instant quote on (855) 925 4302
• Free towing within 48 hours after offer
• Receipt of payment on collection of the vehicle

CarMax vs. CarBrain

CarBrain, formerly DamagedCars, is a car dealership that specializes primarily in buying up damaged or defective cars for reuse. The big difference between CarMax and CarBrain is that CarBrain will take delivery of your damaged or even unwanted vehicle without you having to go anywhere.

Summary of CarBrain

• Get a quote in 2 minutes
• Sell your damaged vehicle within 24-48 hours
• Free towing
• Removal of damaged vehicle without commission

CarMax vs CarVio

The working principle of CarVio is very similar to that of CarMax. But the biggest drawback of CarVio is probably the fact that it only accepts certain car brands.

CarMax rating: Is CarMax a good deal?

Overall, I’d say it’s worth selling your car to CarMax, especially if you don’t want the stress of selling it yourself. The CarMax sale is especially convenient because the process is quick, meaning that you can receive a quote from the company immediately after submitting the online form.

But I recommend that you carefully weigh the pros and cons of selling your car through CarMax to make a rational decision.

CarMax FAQ

Does CarMax give a good rating?

CarMax offers you a better price for your vehicle than other regular dealers. However, you can get a higher amount if you sell your car privately.

Can I negotiate with CarMax when I sell my car?

Unfortunately, you can’t. The best thing you can do if you don’t like CarMax’s offer is to refuse it.

Does CarMax have hidden costs?

No, it isn’t. Except for processing and state fees, which are not charged at all CarMax locations, CarMax will not charge you any other fees for the sale of your car.{“@context”:”https://schema.org”,”@type”:”FAQPage”,”mainEntity”:[{“@type”:”Question”,”name”:”Is selling your car to CarMax a good deal?”,”acceptedAnswer”:{“@type”:”Answer”,”text”:” Selling your car to CarMax is a good deal if you: 1. Have a car that is worth more than the trade-in value they offer. 2. Want to buy a new car. If you have a car that is worth less than the trade-in value they offer, then you may be better off selling it to a private party.”}},{“@type”:”Question”,”name”:”Does CarMax give good appraisals?”,”acceptedAnswer”:{“@type”:”Answer”,”text”:” CarMax does not give appraisals.”}},{“@type”:”Question”,”name”:”Can you negotiate with CarMax when selling a car?”,”acceptedAnswer”:{“@type”:”Answer”,”text”:” CarMax will not negotiate with you when selling a car.”}}]}

Frequently Asked Questions

Is selling your car to CarMax a good deal?

Selling your car to CarMax is a good deal if you: 1. Have a car that is worth more than the trade-in value they offer. 2. Want to buy a new car. If you have a car that is worth less than the trade-in value they offer, then you may be better off selling it to a private party.

Does CarMax give good appraisals?

CarMax does not give appraisals.

Can you negotiate with CarMax when selling a car?

CarMax will not negotiate with you when selling a car.