What happens to your car after you sell it to CarMax?

A CarMax salesperson will greet you at the store. Tell them you are considering selling your car to them and want an appraisal. If you still owe money on the car, CarMax will handle the paperwork. You could also use the value of your car as a payment toward another vehicle on the CarMax lot.

Do CarMax cars have liens?

If you pay off the loan in full, you’ll get your title. Just pay off that loan, and then you will get the title (free of lien) in the mail from the bank who actually financed the carmax vehicle you bought.

How do CarMax appraisals work?

You simply bring your car to any Carmax location, they appraise it and then give you an offer right on the spot with a seven-day grace period. The process is so easy that many YouTubers have posted videos of their high-value cars getting appraised at Carmax just to see what the retailer would give them.

Can CarMax look up title?

They will accept salvage titles, but only in some cases. Otherwise, you cannot sell your car through CarMax without a valid title. This means that each person on the title will have to be present for the appraisal to present identification and any other necessary documents to prove they own the vehicle.

Will CarMax send me a title?

Please allow 7-10 days to receive your title after we have mailed it. If you live in a state that issues electronic titles, once we release our security interest in the vehicle, the DMV will send you the paper title directly or you will need to contact the DMV for instructions regarding your title.

Does CarMax service cars before selling them?

Repairing your car prior to selling to CarMax is not necessary. CarMax gives offers on various vehicles, including damaged cars. If your car has a bad transmission or other mechanical problems, CarMax will buy it.

Does CarMax set the rules of the auction?

While this did not have much of an impact on the prices that cars sold for, it did allow Carmax to set the rules of the auction. To be honest though, their rules for returns and arbitration were pretty standard, and the auctions I worked at were generally very well-attended by local used car dealers.

Why does CarMax sell personal cars for gains?

Personal vehicles sell for gains when they’ve increased in value. This happens with classic cars, which are special and in demand, or when someone restores and greatly improves a vehicle. They buyer pays the sales tax. And since Carmax is a dealer, they don’t pay the taxes when they buy the car from you.

Why is CarMax taking so long to process my title?

All the owner of the car gets is the registration and lienholder info, but not the actual title until the lender is paid in full. Some things that can slow any of the above: the previous owner had a lien and Carmax had to pay the loan off and is waiting on the title and/or lien release.

How do I transfer a car title from CarMax to someone else?

If you paid cash (no loan) for the car, Carmax will either mail you the title in their name, with some other paperwork; OR, in many states, Carmax is required to do the transfer from seller to buyer with the tag agent/tax commission etc and then the state will send you the new title and registration paperwork in your name.