Can you return a financed car back to CarMax?

In addition, CarMax has extended its 7-Day Money Back Guarantee to a 30-Day Money Back Guarantee. Now, customers have 30 days to decide if a vehicle is the right fit, allowing them to return the car for any reason for a full refund up to 1,500 miles.

What happens when you return a car that’s being financed?

If you return the car to the lender, the lender will likely sell it. It will apply the proceeds of the sale to your car loan balance, after reimbursing itself for the costs of sale and certain fees. The car loan lender can then demand payment of the deficiency.

What is CarMax 5 day return policy?

t CarMax, we know that not every car is perfect for every person, so all used CarMax cars come with our 5-Day Money-Back Guarantee*. You can return any car for any reason within a 5-day period. Simply bring it back in the condition in which it was purchased, and you’ll get a full refund.

Does a voluntary repossession affect credit?

When you voluntarily surrender the vehicle, your credit report will indicate that fact in the status of the account. That will be reflected on your credit report, as well. Both are very negative, but a voluntary repossession may hurt your credit scores slightly less than a repossession.

How long does it take to return car to CarMax?

You have five days following the purchase of your used car to take it back to CarMax for a full refund. In addition, CarMax advises that the company’s salespeople won’t attempt to convince you to purchase another car when you make the return.

How soon can you return a car after purchase?

There is no federal law dictating that buyers may return a new vehicle. A car purchase is final as soon as the buyer signs the contract and takes possession of the car. Additionally, you have no state-mandated right to rescind your contract or return a car to the seller due to buyer’s remorse.

How long does it take for CarMax to refund money?

As long as the condition is consistent with when you purchased it and you’ve driven fewer than 1500 miles since your purchase, you can bring it back within 30 days and we’ll help you complete your return. Any refunds due back are typically mailed within 2 weeks of your return date.