What if I owe more on my car than the amount of your offer?
If your payoff amount is more than the offer for your car, the difference is called negative equity. In some cases, the negative equity can be included in your financing if you buy a CarMax car. If not, we'll calculate the difference between your payoff and our offer to you and you can pay CarMax directly. If the amount you owe is less than $250, we will accept a personal check. CarMax stores accept cashier's checks, certified checks, certified funds, cash, and debit cards. CarMax Car Buying Centers (locations that only buy cars) can accept cashier's checks, certified checks, and certified funds. Our offers are valid for 7 days, giving you time to gather any necessary funds to complete your sale to us.