CarMax Car Dealership Review: Options, Features, & More!

CarMax at a Glance

Founded and established in 1993, CarMax is the largest used cars retailers in the United States. It allows users to explore its online inventory of more than 44,000 used vehicles through carmax.com. The company is available at 225 locations nationwide in the United States. CarMax is not accredited by the Better Business Bureau (BBB). However, it is given an A+ rating by the BBB. The company has a "no-haggle" policy that promises to make buying or selling a used car an easy and stress-free process.

Users can get an online offer for their used car in under 2 minutes using the free online tool on the company's website. In addition, the user's offer will be valid for up to 7 days, so they have plenty of time to search for other offers that are better. Moreover, users can also enjoy same-day payments when they sell their cars to CarMax.

How Does CarMax Work?

CarMax is located in more than 225 locations in the United States, and it commits to its approach to making buying and selling cars easy and stress-free according to its "no-haggle" policy. However, you can do almost every single step in buying or selling a car with CarMax online without leaving your home.

According to the company's website, you can choose from over 50,000 used vehicles in their inventory. This means that the chances of finding a vehicle that suits your needs and requirements are pretty high. CarMax also allows its customers a 7-day test drive of the car to make sure they like it. If you realize that you do not like it, you can return the vehicle to receive a full refund. Additionally, all of these cars go through a very careful inspection process, and they all come with a 30-day warranty (60 days in Connecticut,  90 days in Massachusetts, and again 90 days in New York).

If you would like to sell your car and it meets the specifications of CarMax, the company will buy it. You can either get your vehicle to a CarMax location to have it inspected or get a quote online if you are sure that your vehicle is eligible. Once it passes muster, you will get an instant cash offer. The offer will be valid for seven days from the time you receive it. However, if you do sell your car to CarMax, you're under no obligation to buy a car in return.

How Can You Buy a Car Through CarMax?

To start the buying process, you need to visit the company's website in order to be able to find and purchase the vehicle you want. You can search the vehicle that you want by many classifications, like the make, model, or a certain keyword. This means that you can search for a specific car that you are looking for or you can look for a more general category like "Small Bus." This process grants you access to CarMax's entire vehicle inventory. If the specific car that you want is not found in your area, CarMax will bring it to where you are. You might have to pay a transport fee that depends on the distance of the car from where you are.

If you're still not sure what you're looking for, you also have the option to browse available vehicles to have an idea of what you might like to purchase by clicking "Find Your Car." You can then filter your search further from there. Some of these filtering options include make, type, year, mileage, price, features, exterior or interior color, size, cylinders, transmission, fuel efficiency, and much more.

After you use these filters to narrow down the choices you will get, you can select a vehicle that you are interested in, and it will then take you to the profile page of that car. In there, you will be offered an impressive, interactive 360-degree view of the vehicle as well as multiple photos of the vehicle's interior. You'll also be able to get a look at the car's Vehicle Identification Number (VIN), which you can later use to see the vehicle's history. You are offered all of that without having to pay any fees.

If you decide you like a certain vehicle, you can schedule a test drive at the vehicle's location, purchase it, and then pick it up at the lot. Or you can purchase the car and ask for it to be shipped to the CarMax location that is closest to you. In some cases, CarMax may even offer delivery to your house. If that's available in your state, you'll see home delivery as an option. However, it is important for you to remember that if the vehicle you decide on is located some distance from you, you may have to pay transport fees. If that's the case, it will be clearly disclosed for you to see.

If you reach this step, you will be eligible for financing on the purchase. After purchasing the car from CarMax, you will have seven days from that day to change your mind. You also get a limited warranty for your car's major systems for 90 days of 4000 miles, whichever comes first.

While shopping and buying online is the most convenient option for many, some people might be more comfortable doing the whole process in person. If that's the case for you, you can always head to a CarMax store to go through a more traditional buying experience.

How Do You Sell a Car Through CarMax?

Selling your car to CarMax is typically a less automated process than buying the car. However, it is much simpler than selling your car to a traditional dealer or starting a private sale. If you think you want to sell your vehicle to CarMax, go to their website. On the website, you will find a short form where you can enter your car's make, model, model year, and mileage.

If CarMax appears interested in your vehicle, you will get a message that says, "Yes, bring us your (car make and model); we'll make a custom offer that's good for 7 days."

Once you receive this message, you can then schedule a date to have them take your vehicle for a thorough inspection. If CarMax decides to make you a purchase offer, you will be given seven days to decide whether or not you want to accept the offer. This week that you have to decide during is a great added feature because, in this way, you can compare prices with other car dealerships and choose the best offer for your needs.

If you think you might want to accept the CarMax offer immediately, you should prepare documents like:

• Your ID
• Your registration
• The car's keys, fobs, and remotes
• If there is any loan payoff information
• And your vehicle title

Some states may require you to provide extra documents; however, CarMax will let you know about them in advance if applicable. 

Financing with CarMax

CarMax provides auto loans to customers via its auto finance branch, which is CarMax Auto Finance. It also offers loans through other financing companies, including Capital One, Ally Auto, and Chase Bank.

Customers are also allowed to use their own lender, but they should provide their lender's info when they start the purchase process. If you think you want to finance through CarMax Auto Finance or one of their lending connections and then find yourself a better loan offer, you can use the three-day payment option. Within three business days of deciding on your auto loan offer, you can choose to replace it with another lender's financing without paying a penny.

CarMax does not require a minimum credit score or any credit history requirements. This includes buyers with bad credit as well.

The company claims that it approves approximately 95% of its users through CarMax Auto Finance or one of its lending connections and calls on buyers to apply no matter what credit score or profile they have. Auto loans for buyers with bad credit will usually come with a significantly higher APR, so it's good to shop and compare loan rates before deciding.
 

CarMax Customer Service

CarMax offers various customer support options, including phone, email, and in-person. Customers can reach out to their customer support team by phone at (833) 784-2719. Or they can visit the website and click on the "Message Us" option, which will take you to another page where you can fill in your information and send the customer support team a message regarding your questions or issues, and they will get back to you shortly.

The company's website also offers a wide range of informative Frequently Asked Questions (FAQs) in a categorized section where you can browse the answers based on your question's category.
 

Bottom Line on CarMax

CarMax is the largest used car retailer on the market in the United States. They have been operating since September 1993 and currently have approximately 225 locations nationwide. The company offers auto loans, car purchasing, and car selling services. They are not accredited by the Better Business Burea (BBB), but they are rated with an A+, which makes them a trustworthy company.

You can rest easy knowing that they follow a "no-haggle" policy which means you are not obligated to buy or sell a car at any point of the process. They offer you cash on the spot if you decide to sell your car to them and your car meets their specifications. Overall, we can confidently recommend that you buy or sell a car to CarMax as almost 90 percent of their customers' reviews are happy and positive.