1. Do you accept trade-ins?
Yes. In fact, we'll buy your car even if you don't buy one from us.
2. Will you buy my car?
Once your car has been appraised, we'll give you a written offer that's good for 7 days. And you are under no obligation to buy one of CarMax's cars if you sell us yours.
3. How can I find out what my car is worth?
You can have your car professionally appraised at any location. This
process usually takes 30 to 40 minutes, and we'll give you a written
offer that's good for 7 days when we're done.
4. Can I get my car appraised online?
You must bring your car to a CarMax store to receive an appraisal. To determine your car's value, one of our appraisers will need to inspect and test drive your car. When we’re done, we'll give you a written offer good for 7 days. If you want an approximate online estimate of your car's value, click on the link below.
5. How do you determine the value of my car?
First, we test drive your car to determine its mechanical condition.
Then we check your car's interior, exterior, mileage, and age. Excessive
mileage and wear and tear may lower your car's value and decrease its
resale value. Lastly, we check the paint and body for signs of previous
body repair and frame or flood damage. At CarMax, we don't resell frame
or flood-damaged vehicles to our customers. These vehicles are sold at
auction.
6. What if I owe more on my car than the amount of your appraisal offer?
If your pay-off amount is more than the value of your car, the
difference is called "negative equity." 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. We'll accept a cashier's or certified check for the amount you
owe and then pay off your finance company for you.
7. What happens to the cars CarMax buys?
Even though we’ll buy any car, only about half of those we buy will ever
be sold at our stores to the public. Each car must pass our rigorous
inspection before we’ll consider it for our lot, and cars that don't
meet our high-quality standards are sold at major wholesale auctions.
8. Will you explain how you appraised my car?
If you have questions about the appraisal of your vehicle, speak with
the Buyer who conducted the appraisal. Our Buyers are trained to explain
the appraisal process, including what they looked for and what impacted
your car's value.
9. How can I save on taxes if I buy and sell at CarMax?
Lower the amount of taxes you pay when you buy a CarMax car when you sell us your old car at the same time. The following states may give you a break on your taxes when you buy a car and sell us your old one:
Alabama
Arizona
Colorado
Connecticut
Florida
Georgia
Illinois
Indiana
Kansas
Kentucky
Maryland
Missouri
Mississippi
Nebraska
North Carolina
New Mexico
Nevada
South Carolina
Tennessee
Texas
Wisconsin
Certain situations may disqualify you from receiving a tax break. For example, your name must be on both the paperwork to buy a car and the paperwork to sell a car in order for the tax break to apply. Check with your tax professional and your CarMax Sales Consultant for details.
10. Do I need an appointment for an appraisal?
No appraisal appointment is necessary. Just visit your nearest CarMax or
call for details.
11. Can I trade in my leased car?
You can trade in your leased vehicle in almost the same way as any other
financed vehicle. We'll appraise the car or truck first and then we'll
contact the leasing company for a payoff quote and process any equity
you might have. Please note that your leased vehicle might not be
eligible for the trade-in tax savings described above.