📋 Quick Facts
In 2026 CarMax typically pays 2-5% more than Carvana on mainstream vehicles 3-7 years old, but Carvana offers free home pickup nationwide while CarMax requires you to drive to a store. Both honor a 7-day offer lock, both pay by direct deposit or printed check, neither charges fees, and both will buy with a loan payoff. For convenience choose Carvana; for top dollar get offers from both and pick the higher.
📝 Step-by-Step
- Get an offer from bothCarMax.com and Carvana.com take 5-10 minutes each. Enter the VIN, mileage, condition, and a few photos. Both lock the price for 7 days.
- Compare the numbersMost cars come within $500. Sportier or rarer cars may swing $1,500-$3,000 between them.
- Check for loan payoff supportBoth will pay off a loan as part of the deal. Carvana wires the payoff to your lender; CarMax cuts the check on site.
- Pick pickup or drop-offCarvana picks up at home with a flatbed; CarMax requires you to drive to one of about 240 stores.
- Bring the paperworkTitle (or payoff letter), driver license, current registration, and both keys. Missing a key cuts $100-$300.
- Confirm the inspection matches the online offerCarvana inspects at pickup; CarMax inspects at the store. If condition matches the online description, the offer is honored.
- Take paymentCarvana ACH (1-3 business days) or printed check. CarMax check at the counter; deposit at any bank.
- Walk awayBoth file a release of liability with your state. Cancel insurance after the title transfers.
⚖ Legal and Regulatory References
49 CFR 580 odometer disclosure applies to both transactions. Carvana and CarMax are licensed dealers in every state they operate in; consumer protections under state dealer laws and the FTC Used Car Rule (16 CFR 455) apply to purchases from them, not sales to them. Always read the offer terms; both reserve the right to adjust on inspection.