CarMax Auctions - Faq (2024)

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    • Honest, open and dealer-friendly auctions.

Auctions FAQ

  1. Announcements
  2. Arbitration
  3. Bidding
  4. Simulcast
  5. Contact Information
  6. General Information
  7. Payment
  8. Registration
  9. Runlists
  10. Titles
  • Do you have a light system?
  • What types of announcements do you make about your vehicles?

Arbitration

  • What if I find a problem you didn't disclose in your announcement?
  • What are your auction policies? Can I have a copy of them?
  • Do you have age/mileage limits on your arbitration policies?
  • What are your arbitration fees?

Bidding

  • How is bidding conducted at your auctions?
  • Do you offer simulcast or online auctions?

Simulcast

  • Is there a document with this simulcast information on it?
  • Have questions about payment for a virtual auctions?
  • What are the terms and conditions for using CarMax’s simulcast service?

Contact Information

  • Who should I call if I have any questions?

General Information

  • What’s new with CarMaxAuctions.com?
  • Can anyone buy a vehicle at a CarMax auction? Is it open to the public?
  • Can I test drive your vehicles before I bid on them?
  • How can I get information on my purchase history and status?
  • Do you sell cars on an 'if' or a 'call'?
  • Can I preview the vehicles before the auction?
  • What type of background checks do you do on your vehicles?
  • What is the frequency of your auctions?
  • Can I make an offer to buy one of your wholesale units before an auction?
  • Can I sell my vehicles at a CarMax auction?
  • How do you get your vehicles? Are they all trades?
  • Who can I bring to the sale with me?
  • How do I find out if auctions are cancelled due to inclement weather?
  • What is a "modified as-is" auction?
  • Do you offer post sale inspections?
  • Does CarMax auctions offer vehicle transportation services?

Payment

  • Can I pay for my vehicles with a company check?
  • Can I pay for my vehicles with a wire transfer?
  • Can I use my floorplan at your auctions?
  • How long do I have to pick-up and pay for my vehicles?
  • Can I pay for my vehicles with a credit/debit card?

Registration

  • How do I register for CarMax Auctions?
  • How long does it take to register?
  • How do I add a representative to my dealership?
  • How do I remove a representative from my dealership?
  • Do I have to register prior to auction day?
  • Can I buy at any CarMax Auctions throughout the country?
  • Can I use my Auction Access card to register?
  • What do I need to register for your auctions?
  • What does it cost to register?
  • How do I get set up with AFC?

Runlists

  • Can I view the AutoCheck for vehicles offered for sale?
  • Can I get a runlist for an upcoming sale?

Titles

  • Will you cash my check if the title is not present?
  • Do all of your vehicles have titles on site?
  • Do you guarantee titles?
Do you have a light system?
No. We are a modified as-is auction. CarMax Auctions discloses any known major mechanical issues, title brands, and structural or flood damage as outlined by the National Auto Auction Association (NAAA). Mechanical condition should be verified on our lot. See our Auction Policies for details.
What types of announcements do you make about your vehicles?
CarMax Auctions is open and upfront with our wholesale customers. We make major mechanical announcements on vehicles that we know to have evidence of a bad motor, transmission, 4x4, front and rear differential, etc. CarMax Auctions also discloses any known title brands. Other announcements include structural damage and flood damage as outlined by the NAAA. See our Auction Policies for details.

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What if I find a problem you didn't disclose in your announcement?
Assuming that the issue is addressed within our Auction Policies, CarMax Auctions will take return of the vehicle or provide a price adjustment.
What are your auction policies? Can I have a copy of them?
Our Auction Policies are posted at each auction or you can click here to download a copy. Auction Policies can also be obtained by calling our Auction Information Line at (888)804-6604.
Do you have age/mileage limits on your arbitration policies?
No, our Auction Policies cover every vehicle we sell.
What are your arbitration fees?
Generally, there are no arbitration fees. For vehicles announced as “Title Absent,” CarMax will deduct $0.50 per mile driven over 300 miles as indicated on the wholesale purchase agreement if the vehicle is arbitrated.

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How is bidding conducted at your auctions?
CarMax Auctions is a live open-bidding format. We do not accept sealed or silent bidding.
Do you offer simulcast or online auctions?
Currently, we are testing simulcast or online auctions in select markets.

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Is there a document with this simulcast information on it?
For commonly asked questions about our virtual auctions Click here.
Have questions about payment for a virtual auctions?
Click here for answers.
What are the terms and conditions for using CarMax’s simulcast service?

The Simulcast terms and conditions can be found here

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Who should I call if I have any questions?
Please call our Auction Information Line at (888)804-6604 with any questions.

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What’s new with CarMaxAuctions.com?
Check out our new features and best practices for navigating the new experience.
Can anyone buy a vehicle at a CarMax auction? Is it open to the public?
CarMax auctions are DEALER ONLY auctions. All individuals attending a CarMax auction must be signed up as a representative of a licensed dealership.
Can I test drive your vehicles before I bid on them?
Unfortunately, our facilities do not have the space to test drive the vehicles. CarMax announces known major mechanical conditions on its vehicles and recommends that a dealer verify mechanical condition before removing a vehicle from our lot.
How can I get information on my purchase history and status?
You can access purchase history, member profile, registration status, etc. from the "Member Dashboard" page. Call the Auction Information line at (888)804-6604 for additional information.
Do you sell cars on an 'if' or a 'call'?
No, CarMax and its affiliates own all of the vehicles and we sell an amazing 97%-100% of our vehicles the first time.
Can I preview the vehicles before the auction?
Yes. We open our gates two hours prior to the auction for pre-inspection.
What type of background checks do you do on your vehicles?
We run an AutoCheck on every vehicle we purchase. AutoChecks are available to registered dealers by clicking on the VIN of a chosen vehicle in the runlist. Also, we briefly drive the vehicles to determine any major mechanical issues. We do not perform any kind of in-depth diagnostic evaluation.
What is the frequency of your auctions?
Our auctions range from biweekly, weekly, and monthly. Please refer to the current auction schedule on the home page for auction locations and times.
Can I make an offer to buy one of your wholesale units before an auction?
No, all units are sold through the auction.
Can I sell my vehicles at a CarMax auction?
No, all of the vehicles sold at CarMax auctions are owned by CarMax and its affiliates.
How do you get your vehicles? Are they all trades?
Through CarMax's unique appraisal process, we acquire thousands of units each week that do not meet our strict retail parameters. These vehicles are sold through our auction. Other vehicles may be CarMax Auto Finance repossessions.
Who can I bring to the sale with me?
Anyone attending the auctions must be signed up as an authorized agent of the dealership they represent. Our auctions are for DEALERS ONLY!!
How do I find out if auctions are cancelled due to inclement weather?
As soon as a determination has been made, the Auction Information Line (888)804-6604 and our website will be updated to reflect the most recent schedule. You can also receive text message alerts for auction cancellations and schedule changes. Messaging and data rates may apply. To opt in to receive text messages please: Text DEALERALERTS to 58523.
What is a "modified as-is" auction?
CarMax Auctions discloses any known major mechanical issues with our vehicles. We also disclose known structural and flood damage in accordance with the NAAA policies as well as known title brands. See our Auction Policies for details.
Do you offer post sale inspections?
No, CarMax Auctions does not offer this type of service.
Does CarMax auctions offer vehicle transportation services?
CarMax Auctions is currently testing vehicle transportation services at select auction locations. Terms and conditions applicable to vehicle transportation services are available here. For more information click here, or contact a CarMax Associate for details and available routes

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Can I pay for my vehicles with a company check?
To be eligible to write company checks, please fill out the registration application from our home page or call our Auction Information Line at (888)804-6604. Once the appropriate registration documents have been submitted, your check-writing ability will be evaluated. We will contact you directly to discuss your check-writing status.
Can I pay for my vehicles with a wire transfer?
Yes, you can. You might also want to talk to your bank about sending ACH credits, which can save you money on bank fees. You will be able to pick up your vehicles once the wire is received by our Home Office in Richmond, VA. Wire Transfer notifications are received by the Home Office Mondays through Fridays from 8:00am until 6:00pm EST. Please allow at least 1 hour for the banks to process the transfer before contacting us to confirm receipt.
Can I use my floorplan at your auctions?
AFC (Automotive Finance Corporation) and NextGear are floorplan providers for CarMax Auctions. To get information on AFC, visit their website at: https://www.autofinance.com. To get information on NextGear, visit their website at: nextgearcapital.com.
How long do I have to pick-up and pay for my vehicles?
Vehicles must be picked up and paid for by close of business on the day after sale.
Can I pay for my vehicles with a credit/debit card?
No, at this time, we do not accept credit/debit cards.

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How do I register for CarMax Auctions?
Registering online is your easiest and most efficient option. If you prefer paper registration, click here. You can also call our Auction Information Line at (888) 804-6604 to have the registration application sent to you. Onsite registration is available at each CarMax Auctions location on auction day, but we recommend that you register in advance to avoid any delays prior to the sale.
How long does it take to register?
Registration can be completed in one business day, as long as all required forms and documents are submitted. Check writing authorization may take additional time. Registering in advance is recommended to avoid delays on auction day.
How do I add a representative to my dealership?
Go to My Profile on your Member Dashboard and find your Invitation Code. Share this code with the person you want to add and direct them to Register for Auctions on carmaxauctions.com. Please note: the Owner/Authorized Officer(s) will be asked to approve every Buyer who requests to buy on behalf of their dealership. Buyers who have not been approved by an Owner/Officer will not be authorized to buy for that dealership.
How do I remove a representative from my dealership?
Visit "My Profile" section on the Member Dashboard, then go to “Account Options” and select "Paper Registration Activities”. Complete the form and fax it to (866) 360-0398 or email it to dealer_registration@carmax.com.
Do I have to register prior to auction day?
While you are welcome to register at a CarMax Auctions location on auction day, it is preferred that you register in advance to avoid any delays prior to the sale. Once your online application is submitted, we will review your application and will be in touch with you as soon as possible (usually within 30 minutes during normal business hours).
Can I buy at any CarMax Auctions throughout the country?
Your one-time registration gives you access to all CarMax Auctions locations nationwide. To buy, your dealership needs to submit any tax/resale documents required by the states where you will attend auctions. Once registered, your dealership’s Owner can add states at any time through their Member Dashboard.
Can I use my Auction Access card to register?
Currently, CarMax Auctions does not accept the "Auction Access" card for registration purposes. You can register online or call our Auction Information Line at (888) 804-6604 to have the registration application sent to you.
What do I need to register for your auctions?
You’ll need to submit any tax/resale documents required by the states where you will attend auctions as well as provide necessary documentation related to the payment options you select.
What does it cost to register?
There is no cost to register.
How do I get set up with AFC?
Please visit https://www.autofinance.com to find the branch closest to you.

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Can I view the AutoCheck for vehicles offered for sale?
Yes, AutoChecks are available by clicking on a specific VIN of a vehicle in a runlist or by clicking on the AutoCheck logo.
Can I get a runlist for an upcoming sale?
If you are registered, you can access runlists on the "Member Dashboard" page.

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Will you cash my check if the title is not present?
Assuming that your dealership is registered to pay by check, CarMax Auctions will hold your payment until the title is received.
Do all of your vehicles have titles on site?
No, however if the title is not onsite it will be announced.
Do you guarantee titles?
Yes, receipt of title is guaranteed within 30 days (or the maximum allowable under applicable state law, if any) for those vehicle purchased "Title Absent".

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If you don’t see your question here or still have additional questions, please contact Auction Services at 888-804-6604.

Auctions held every week!

Our auctions are conducted by professional auctioneers and are held in numerous CarMax locations across the country.

CarMax Auctions - Faq (2024)
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