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Should I Sell My Car to CarMax?
CarMax Summary
Instant online offer in under 2 minutesOnline offer is valid for up to 7 days2 options for selling – online or in-storeGet paid within 30 minutes on the spot
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.
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. Another option is to enter your car’s Vehicle Identification Number or 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 come up with 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.
To let the CarMax store prepare the payment, you also need to provide your complete name and contact details.
What To Do Before Your Appointment with CarMax
Before your appointment at the CarMax store, there are some things you need to prepare. 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 for your appointment to CarMax. You can also check with the leasing company to know if CarMax can obtain payoffs 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. For any necessary repairs, 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 which, CarMax will finalize the offer and you can proceed with the sale. There’ll be some paperwork you need to complete, more if your car is still on the lease.
Once you complete the paperwork, CarMax will pay you in the form of 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.
From checking in at the front desk to receiving the bank draft as payment, your appointment can take around 30 to 90 minutes.
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.
Alternative Places to Sell Your Car
Considering how it’s easy to sell your car to CarMax, you might want to accept their offer straightaway. However, the wise seller wants to know if other buyers have better offers. Here are some alternatives to CarMax you can check out.
Peddle
Peddle Summary
Buys used, damaged or junk car nationwideGet instant quote on (855) 925 4302Free towing within 48 hours after offerReceive payment upon car collection
While both companies buy cars, what makes Peddle different from CarMax is that it exclusively does that. Peddle isn’t a used car retailer. What it does, though, is buy cars and resell those to car dealerships.
If you’re an individual buyer, CarMax can sell you your next car. Peddle, on the other hand, can only help you purchase cars if you’re running a dealership. Most of the time, it caters to individuals looking to sell their cars.
Another difference between the two is the process of redeeming an instant offer. With CarMax, you need to schedule an appointment and bring your car to their store. For that, your car needs to be in running condition, or you need to get a tow service.
In contrast, Peddle advertises the easiest way to sell your car. When you’re ready to sell your car to them, you’ll need to schedule a pickup day and time. It means that Peddle will come to your location to check the car, finalize the sale, and give your check.
Although there are differences, you’ll also find similarities in these companies. First, CarMax and Peddle offer their services nationwide. Also, the online process to get an offer is quite identical in the steps and information they require.
Once you receive an offer from either of the two, you can redeem it for up to seven days. Lastly, the offered amount might change after they inspect your car.
Recent Peddle Offers
ModelYearMileageOfferToyota (Camry)2011150,000$2,225Volvo (S40)200137000$430Mercedes-Benz (560)199192000$1,930BMW (528)2008126,000$1,140Kia (Forte)2010145,000$635Honda (CR-V)201167000$2,930Ford (Explorer Sport Trac)2004145,000$1,170Oldsmobile (Alero)2004162,000$400Audi (A6)2006106,000$530
Wheelzy
Wheelzy Summary
Wheelzy stores are open 7 days a weekGet offer in minutes – (855) 510-1108Free towing of your car from your locationInstant payment via cash or check
Besides Peddle, Wheelzy is a good alternative to CarMax. It buys cars in varying conditions, including those that are not running. Unlike CarMax that buys vehicles for their inventory, Wheelzy resells the cars to their partner dealerships.
Most of the time, Wheelzy buys cars, repairs them, and resells them through their partner businesses. In some cases, though, it purchases old cars that are beyond repair. In this case, Wheelzy takes it apart for parts reselling and recycling.
Either way, Wheelzy won’t let you worry about not being able to sell your car, no matter how old and dilapidated it is. However, it’s important that your car still has its engine and transmission when you sell it to them.
So, how do you sell a car to Wheelzy? Much like CarMax and Peddle, you can get an offer through an online application. Wheelzy offers another option for the non-techy and that’s through a phone call.
You can simply reach out to their support team through (855) 294-0940 and get an offer. If you’re happy with the offer, you can even schedule a pickup within the same day.
Another thing that Wheelzy sets apart from other buyers is its non-negotiable offers. While sellers can’t haggle for higher prices, Wheelzy ensures that offers won’t change when they pick up the car.
What happens is that when their partner tow service arrives, the driver will pay you the exact offer and take your car away. They won’t need to inspect the car first before finalizing the offer and paying you.
This process is quite contrary to CarMax that still conducts an inspection in its store before completing the sale.
Recent Wheelzy Offers
ModelYearMileageConditionOfferHyundai (Tucson)2006200,000Doesn’t start$400Mercury (Sable Sedan)2003150,000Doesn’t start$225Mercedes-Benz (C)2001150,000Starts$222Ford (Edge)2010200,000Doesn’t start$1,200Ford (Flex)2009150,000Starts$1,000Lexus (RX)2002300,000Doesn’t start$750Chevrolet (Cobalt Sedan)2007200,000Doesn’t start$200Toyota (Corolla)2003250,000Drives$555BMW (528)2008250,000Drives$1,487
CarBrain
CarBrain Summary
Get an online offer within 2 minutesGet cash for your car in under 48 hoursCarBrain buys cars in over 7 conditionsUp to 7 days to accept CarBrain’s offer
CarBrain offers a hassle-free way to get cash for your car fast. Like CarMax, CarBrain also offers an instant quote. However, unlike CarMax, CarBrain doesn’t require you to bring your car at its location to get it evaluated. CarBrain simply evaluates your car based on the details you put on your online application. The company then sends its representative to your driveway to double-check its condition and pick it up. CarBrain representative will also pay you on the spot. Meanwhile, CarMax doesn’t offer pick-ups and require you to drop your car off at its outlet.
CarBrain has an excellent reputation. It has an A+ rating on the Better Business Bureau, and a 4.8 rating on Trustpilot and Google Reviews, making it a reliable and trustworthy option for those looking to sell their cars.