Yes! CarMax will buy a car with a loan on it in most cases. Unless you’re way too far upside down on the loan, CarMax is likely to purchase the car from you. If you want to sell a vehicle to CarMax that still has a car loan on it, schedule a meeting or walk into a branch near you.
Why would CarMax not buy my car?
We dig deep into every car’s history to rule out any car with flood damage, frame damage, or salvage history. Any car that can’t meet our Clean Title Guarantee gets sold at auction — not to you. Cars must also pass a 125+ point inspection and undergo a detailed reconditioning to be sold at CarMax.
What kind of cars will CarMax buy?
Q: Will CarMax buy any car? A: We will buy pretty much any car. Whether you’ve got a luxury SUV you want to sell for an upgrade or a well-loved station wagon that’s on its last legs, we should be able to give you a quote. Start with our online tool or take your vehicle down to your local CarMax to get an offer.
Does Carvana buy cars that are not paid off?
The short answer is yes, they will buy your car, and Carvana has an exceptional program for these types of situations. They even offer solutions for negative equity. For those of you that don’t know what that is, it’s when your car’s value is less than the amount you still owe on the car.
Will CarMax buy a car that has a loan on it? – Related Questions
Can you sell a car to CarMax If you owe money on it?
Will CarMax buy my car if I owe on it? Yes. You’ll need to provide loan information so CarMax can pay off the lender. If you owe more than your offer, you will need to cover the difference.
Can I sell my car to Carvana if its financed?
Yes. Until the sale of your car to Carvana is final, continue to make your normal loan payments to avoid late payment penalties with your lender. Any overpayments will be reimbursed to you.
Can Carvana reject your car?
They can reject the vehicle entirely at no charge, opt to have Carvana fix the issues before delivery, or accept the car as-is and then use Carvana’s after-sale repair option at no extra cost. If for any reason the customer is unhappy with their purchase, we offer a 7-day money back guarantee.
Do I need to clean my car before selling to Carvana?
No need for detailing, oil changes, fixing dents, etc. If the car is more than three or four years old, it’s likely going to CarMax’s auction for used car dealers anyway, they’re not going to sell it on their own lot.
Whats the oldest car Carvana will buy?
Carvana will accept your vehicle if it is newer than 1992, the odometer is in working condition, and we are able to safely perform a test drive. We’ll also accept vehicles where registration is expired (except for California).
What kind of check does Carvana give you?
We have three different ways you can choose to get paid: Physical printed check handed to you at the time of your appointment. ACH direct deposit into your checking account and payment typically deposits within 1-2 days of Carvana receiving your car.
Which is better CarMax or Carvana?
Which Is Better: Carvana or CarMax? Carvana is a better option if you look for convenience and ease of use in your purchases and trades. On the other hand, CarMax is ideal for people who want to test drive the car beforehand and who do not mind going to their nearest CarMax location to do it.
How hard is it to sell car to Carvana?
Selling a car to Carvana takes less than an hour (and that includes the work you need to do online before you drop your car off, or they pick it up from you).
Where can I sell my car for the most money?
Where Can I Sell My Car For The Most Money?
- Dealerships.
- Online car dealers.
- Individual private parties.
How do I sell my financed car?
You’ll first need to write to the finance company to provide a settlement figure. You can then pay the outstanding amount and the car is yours to sell. Once you’ve asked for the settlement figure they’ll get it to you within a few days. After that, you’ll have a set period to pay it off.
Does cleaning your car increase trade in value?
Fix points out that a clean and well-maintained car is most likely to get the highest trade-in value. “Clean the vehicle inside and out,” she says. “Detailing the car is like staging a home for resale.”
Which is better carmax or vroom?
Key findings. Carmax offered the highest prices for used cars among its competitors, nearly $1,000 more than both Carvana and Vroom. Between Carmax, Vroom, and Carvana, Carmax offered the highest amount for used vehicles 63% of the time.
Will Vroom buy my financed car?
Will Vroom buy my car if I owe on it? Yes. You’ll need to provide loan information so Vroom can pay off the lender. If you owe more than the amount of your offer, you will need to cover any shortage.
Does CarMax buy beaten cars?
Yes — CarMax does buy damaged cars. In order to sell a vehicle to CarMax for cash, you typically have to bring the car in to get it appraised.