Will Carmax Buy An Upside Down Car [FAST]

Yes, , but you must reconcile the "negative equity"—the difference between what you owe on your loan and CarMax’s offer—before the sale can be finalized. How the Process Works

Cashier’s checks, certified checks, certified funds, or debit cards are accepted. will carmax buy an upside down car

CarMax does not allow you to use a credit card to pay off negative equity. Roll the Debt Into a New Loan: Yes, , but you must reconcile the "negative

Only accepted if the amount you owe is less than $250 . Roll the Debt Into a New Loan: Only

If you are trading in your car for another vehicle at CarMax, you may be able to "roll over" the negative equity into your new auto loan.

Experts from Chase and CarEdge warn that this immediately puts you "underwater" on your next car, potentially creating a cycle of debt. Recommended Preparation What if I owe more on my car than the amount of your offer?

If you are only selling your car (and not buying a new one), you must pay the negative equity to CarMax on the spot.