Are you planning on getting rid of your car that is laying on your lawn for years? If yes, this is a great idea. Since you can make some money out of your old beater car and then you can spend this money on something more fulfilling. But does CarMax buy cars that don’t run? Well, that is a good question and, in this article, we will try to answer this question for you.
Selling a car that you don’t need is a clever idea. When I’m driving down the road, I see a ton of cars in people’s lawns just sitting there for years and rusting out. But for what? Why do you need a car if you don’t drive it? To keep it as a monument? It just doesn’t make sense.
Fortunately, there are a ton of companies out there that saw this opportunity and they are offering services just for them. And some of these services are buying cars that are old and don’t run. And that is the case with CarMax. They have hundreds of locations across the US and you can take your car to them for an appraisal at any given time of the day. But does CarMax buy cars that don’t run? We are going to answer that question and more.
In this article, we are going to cover what is CarMax and how do they work? Then, we will see what documents do you need to sell your car to CarMax. After that, we will discuss the question, does CarMax buy cars that don’t run? We will also offer you some alternatives that you can consider if you try to sell your car. So, let’s dive into the article.
What Is CarMax? – Does CarMax Buy Cars That Don’t Run
CarMax is a company that buys and sells vehicles. They have many locations across the US and they basically serve the whole country.
How they work is pretty simple. You take your car to one of their locations and they will inspect it in detail. Then they will give you an appraisal for your car.
It doesn’t matter the make and model. If your car is worth $500 or $250,000. They serve all the customers and they give an estimate. After you get the estimate, it’s up to you if you will make something out of your car or not.
Their prices are based on the market wholesale prices and they will not give you a full retail offer. That’s since they have to sell the car and make money.
Depending on your car’s worth, you can expect to get $500 to $2,000 below the retail value of your vehicle. Let’s say that your car is worth $5,000. In this case, they will give you an offer of $4,500.
This means that you lose money. So, if you are prepared for that, you can sell to them. But it’s not that bad. There are many people that just don’t want the hassle of selling cars online and make postings on online marketplaces. They just want to get rid of the car quickly. And CarMax is perfect for that, in my opinion.
They give you an estimate and you accept the offer. You hand your keys over and take your money. Also, there is some papyrology but everything is done quickly and effectively.
That’s why if you have an old car and you want to get rid of it, CarMax is the perfect place to do that. There are also some alternatives that we are going to cover later.
Documents You Need To Sell Your Car To CarMax
Io order to sell your car to CarMax, you got to have documents for the car to get it sold. Since everything has to be legal and meet the laws in your state. But what type of documents do you need to sell a car to CarMax? Let’s discuss them one by one and see what do you need to sell your car to CarMax.
A car title is necessary to sell your car to CarMax. But what is a car title? A car title is proof of ownership of the vehicle. If you don’t have a car title with your name for that specific vehicle, it means that this vehicle isn’t yours. Thus, you are not able to sell the vehicle to anyone. This is since you are not the legal owner that has purchased the vehicle.
The car title is just a piece of paper, but a valuable one. That’s why you should pay attention not to lose it. If you lose it, you will need to get another replacement title. And this procedure can last for a long time before you get your new title. That’s why always pay attention to where you put your documents if you don’t want to go through the trouble of replacing the title.
Also, not to forget to add that there are a couple of types of titles. There is a clean title vehicle. This means that the vehicle was never involved in an accident. These vehicles have the highest value on the market. If your car is a clean title vehicle, you can expect to get the most cash out of it. That’s since the vehicle was never hit or repaired.
There is also a salvage title. The salvage title means that the vehicle was in a collision and was totaled. After it was repaired and put back on the roads. This vehicle got a salvage title. These vehicles are valued 30% less than a vehicle with a clean title so you need to keep this in mind.
And the last type is a certificate of destruction title. This title means that the vehicle is deemed to be destroyed or sold for parts.
Bill Of Sale
If you don’t have a car title, then you need to have a bill of sale. You cannot sell a car with a bill of sale in every vehicle. Only in some states, would they allow this procedure.
But what is a bill of sale? Bill of sale is a legal document that proves that you legally purchased the vehicle from the previous owner and the vehicle is now in your possession.
This bill of sale must be approved by a notary office and has to have a stamp on it to prove that this document is genuine.
If you have this document to prove that you are the owner, you will be able to sell the vehicle. If not, you won’t be able to do so. But does CarMax buy cars that don’t run? Well, we are going to discuss that after we cover the documents needed to sell your car to CarMax.
Other Documents Needed
Since we discussed the important documents that you need. There is also other documentation that you need, to sell your car to CarMax.
Vehicle registration is also needed for the vehicle. This registration also proves that you are the owner of the vehicle.
Personal identification is also required. You need to offer your personal ID when you are selling your car to CarMax. This has to be checked for you to prove that you are the rightful owner of the vehicle and if the name on the title matches your name.
And the last thing that you need to have are the keys to the car. You need to hand over the keys after you accept the offer and sign the agreement that you sold the vehicle to CarMax.
After you gave the information and documents, then you will be able to sell the car to CarMax right away. Or, if you are still unsure, they will give you an offer that will last for seven days. And if you decide to sell your car during this timeframe, then you can do it as the offer still stands.
After the seven days pass, you will have to do another appraisal on your vehicle. But does CarMax buy cars that don’t run? We are going to answer that question in the next paragraph when we are going to learn all about the types of cars that CarMax buys.
Does CarMax Buy Cars That Don’t Run
Yes, CarMax buys cars that don’t run. In fact, they would buy any car that you take to them. But only if you are the legal owner of the vehicle and you have proof of ownership like we discussed in the previous chapter. Without these documents, you cannot expect to sell your car to CarMax.
But they have some business formula. For example, they are not reselling vehicles that have damage on them. So, let’s say your car has a bad gearbox, blown head gasket, or a bad engine. You cannot expect a lot of money out of this car since they will be less likely to offer this car in their lots.
The same thing is for cars that are beyond 100,000 miles. They just value these cars much less and they are more likely to go for a car that will have a good resale value than selling worn-out cars.
This might be a deal-breaker for you, but it is what it is. If your car is in bad condition, you cannot expect much from it if you are trying to sell the vehicle to CarMax.
And even if the car is in good condition, you can’t expect retail price. That’s since they also later expect to sell your car for a profit. So, based on your car value you might lose some percentage of the value if you sell it to CarMax instead of going to the alternative route. And this route is selling the car on a marketplace.
But if you want to get rid of your car quickly, CarMax is the perfect go-to place for you. They will give you an offer and if you take it then they will buy it from you instantly.
Do They Pay Good Money? – Does CarMax Buy Cars That Don’t Run
That depends on the car as we mentioned above. Some cars have a better market value and CarMax will be more likely that will resell them quicker. That’s why you will get a good offer from CarMax if you have one of these cars. But which are these cars?
This is a good question. The cars that CarMax values the most are cars that are between 1 and 10 years old and have below 100,000. Also, good service history and clean titles help, too. This will guarantee that you will get a good offer from CarMax.
But does CarMax buy cars that don’t run? Yes, as we mentioned CarMax also buys cars that don’t run. But you cannot expect much from this type of car. Since the car is not running you will not get a good deal out of it.
Their technicians will inspect the extent of the damage to the vehicle and the possible repairs that need to be done to the vehicle to bring the car to proper working order.
And they are going to deduct this money from the value of your car. For example, if your car needs a new clutch, they will deduct $1000 from the price. That’s since your car needs a new and very expensive clutch. Or, some other component needs a replacement.
And let’s say if you sell an old rusted-out vehicle that doesn’t run or runs poorly. They will not give you a lot of money, since this vehicle doesn’t have a market value.
Also, if you have a really expensive car that you value a lot, it is not very likely that they will meet your price demand. This is so as they give an estimate based on the year and the condition of the vehicle.
Alternatives To CarMax
When selling a used vehicle that is pretty old, instead of looking for does CarMax buy cars that don’t run online, you can also take a look at some of the alternatives to CarMax. And trust me, there are plenty of alternatives on the market that will give you good money for your used vehicle. These alternatives are what we’re going to discuss in this chapter.
Sell It To A Dealership
One of the first options that will come to your mind is selling your car to a dealership. This in fact is pretty similar to selling a car to CarMax, since they are also resellers.
It is unfortunate that not many dealerships buy cars that don’t run. That’s because there will be extensive repairs to return the vehicle back to the road.
But what if your vehicle doesn’t need some extensive work to be done? It is highly likely that some of the dealerships are going to give you an offer to purchase the car from you.
This offer, as we said, will not be something huge and you can’t expect a lot from it, to be honest. If the car is older than 10 years and in poor condition, you will likely get a grand or two out of it. That’s why checking the alternatives is also a good idea.
Peddle is another option to sell your car that doesn’t run. They are a business that buys your trash and they come to your door and pick it up and take it away. How they work is pretty simple.
You go to the Peddle website and you fill up the form. Once you fill up the form, they send you a price. It’s up to you if you accept the offer or not.
If you accept their offer, they will come to your door and pick the car from you in a few days. This is clearly the easiest way to sell a car online without any hassle.
But you also need to have documentation. Similar to CarMax, Peddle will require the title from you and also an identification to make sure that you are the rightful owner of the vehicle.
If you are not, they will not take the car from you. But how much can I expect to be paid by Peddle? To be honest, not much. Most of their business is buying junk cars from people that want to get rid of them. And you cannot expect more than $1,500 for a car that doesn’t run. But you can test your luck and fill up the form on their website. And maybe you would be the lucky one, who knows.
Facebook Marketplace is a good option if you want to sell your car online. You just need to have an account and make a posting.
But you don’t want any posting. You want to make a posting that sells. You need to take a bunch of good high-quality pictures and make your car look presentable as well.
The better the pictures and the description, the more that you will make from the sale. That’s why this is a good option if you want to get rid of a car and make a profit from it.
With this type of sale, you are basically selling for a retail price. There is no middle man and you are the seller, which is a good thing.
But the downside of this is that you can expect a ton of hagglers to call you on the phone. They will say “the best I can do is $500” and all that nonsense. But you should be persistent and look for a good deal.
I know that this type of selling can be exhausting for some people. And that’s why you are looking for does CarMax buy cars that don’t run. Some companies like CarMax or Peddle offer a good deal without the haggling and you just take it or leave it.
Another site similar to Facebook Marketplace is Craigslist. Similar to Facebook Marketplace, you make a posting and interested people will call you on the phone.
But let me tell you that there is another way and that is selling the car for parts.
Sell The Car For Parts – Does CarMax Buy Cars That Don’t Run
And for last if you are one of the guys that have the entrepreneurial mindset. You can also make some more money out of your car than you would if you sell the car as a whole unit.
Every car has some valuable components inside, imagine there are airbags that are worth a few hundred dollars each, stereo system, rims, engine components. All these parts, when sold separately, can bring you a lot of profit.
Selling parts can even be your secondary business. You have a daily job from 9 to 5 and from 5 you are shipping parts all over your state. Or even around the country if these are small pieces.
If you have this mindset and a vehicle that has some worth in parts, then go for it.
Sell It To A Junkyard
And the last way to get rid of a car is to sell the car to a junkyard. Almost every large town has a local junkyard that will take anything.
You just need to take your car to them and tell them that you don’t need the vehicle and you have all the documents. You sign the papers and hand them the title and you are good to go.
But like most places that buy junk, you cannot expect a lot of money out of this car. A $1,000 to $2,000 is the max that some places are going to offer you for your old vehicle. This doesn’t sound a lot, but that’s how things are and if you don’t want to sell the car for this price, you can always keep it. Then, you can look for a better deal.
Conclusion – Does CarMax Buy Cars That Don’t Run
In this article, we have covered a lot when it comes to selling your car to CarMax. We learned what CarMax is and how do they work.
Then we answered the question of does CarMax buy cars that don’t run. We also discussed the required documents that you need to sell your car to CarMax.
Lastly, we covered the alternatives and we gave you some ideas on where to sell your car to. If you don’t want to sell the car to CarMax, there are other options. The best thing to do is to sell the valuable components online and then sell the shell to a junkyard. In my opinion, this way you will get the most out of it.
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