When you sell a financed vehicle to CarMax, they appraise the car and compare that offer to your loan payoff amount:
: (You owe more than the offer) You must pay CarMax the difference at the time of the sale.
: If you are buying another car from CarMax , you may be able to roll that negative equity into your new financing, subject to approval. What You Need to Bring
: Name and contact details for your lienholder.
: A valid driver's license and proof of insurance. Important Considerations What if I owe more on my car than the amount of your offer?
: (Offer is higher than what you owe) CarMax pays off your loan and gives you a bank draft for the difference the same day.