carmax va beach in Virginia Beach, VA (2024)

FAQs

Can you negotiate a CarMax offer? ›

No, all of our offers are firm and valid for 7 days.

We analyze your car's specific year, make, model, mileage, and features. We consider its condition, history, and use from information you provide, our own assessments, and internal and third-party history information. We especially look out for major issues, like frame or flood damage or odometer rollbacks.

You can apply for financing with CarMax, your own preferred bank or credit union, or pay cash. Credit cards cannot be used to purchase a car at CarMax, and we don't accept credit cards for down payments.

CarMax Auto Finance (CAF) income of $147.0 million, grew 7.0% from the prior year first quarter due to growth in CAF's average managed receivables and net interest margin percentage. In June 2024, CAF launched its inaugural non-prime public asset-backed securitization deal.

In general, CarMax pays more for cars than other companies that purchase used cars.

It is recommended that you clean your car beforehand. While a professional detailing is not necessary, you should do your best to remove all stains and make your car as presentable as possible. When you take your vehicle in for an appraisal, the salesperson will bring your vehicle to the in-house team of appraisers.

You will leave with payment in hand the same day you sell us your car. We pay with a bank draft, which is a type of check where payment is guaranteed to be available by the issuing bank. A bank draft must be deposited and cannot be cashed.

Generally, a pre-qualification is when a finance company or lender does a basic review of your information and credit history to determine if you're likely to qualify for financing a car. A pre-qualification usually results in a soft credit inquiry, which won't impact your credit score.

If you decide to purchase a vehicle through CarMax, you can complete an application for final offer terms. The application requires a hard credit inquiry, which can impact your credit score. Borrowers can apply for a CarMax Auto Finance auto loan 100% online, including document upload.

Can I pay CarMax with a debit card? ›

All you need is your account number and routing number. For payments made at a CarMax store, we accept cash, debit card, or personal checks that reflect your correct name and address.

CarMax offers payment accommodations in the form of a due date change or payment extensions for those experiencing short-term hardships including a change in employment status, an unanticipated medical situation, adverse impacts from a natural disaster and more.

The short answer is no, you cannot negotiate with CarMax. However, discover other ways you can bring down the costs and learn about the benefits of buying a car with CarMax — even if you can't negotiate the price in a traditional sense.

A major advantage of buying from CarMax is that it only sells cars that meet its high standards. To give customers peace of mind when purchasing used cars, CarMax inspects and reconditions all of their cars, and the company offers warranties and protection plans.

Retail gross profit per used unit was $2,277, an increase of $82 per unit over last year's fourth quarter. Wholesale vehicle gross profit decreased 19.5% versus the prior year's quarter, reflecting lower wholesale unit volume. Gross profit per unit was in line with the prior year and remained strong at $1,187.